Family Quote of the Day: “My family is temperamental. Half temper, half mental.” – Author Unknown
This Week in Economic History: It was on this day in 1995 when it was announced America was in debt the U.N. in the neighborhood of $1.25 billion; this threatened its membership and respect in the world community. (*I was going to crack a joke here about how we lost our respect when the ______ song cracked the Billboard Top 100 for this date in ’95 but I have to say, out of the top 25 songs only the Friends theme song at # 17 is the only one that could really lose the world’s respect).
Wuss’up This Week: It is a slow week for news that can impact interest rates. Today we’ve got the Fed’s Beige Book Report (*this is a summary and analysis of economic activity and conditions), tomorrow Jobless Claims, and on Friday the Market Manufacturing Report. Sometimes overshadowing these reports are the global rates which are on the rise due to big-time inflation numbers from Asia. Let me quiz you now ACT/SAT style: “Kryptonite is to Superman as _________ is to interest rates.” If you guessed ‘inflation’ you are today’s winner! We don’t like inflation – even whispers of it causes rates to go up.
Interest Rate Update: First, I’m happy to announce that we are the ONLY mortgage company using the 2022 conforming loan limits of $625k. Makes me feel special. Reminds me of 5th grade when I was the only one in my class who had Bubble Yum because my grandparents brought it back from California as it wasn’t nationwide yet. Anyway – back to rates – 30yr conforming AND jumbo rates can be found in the low-3s, 15yr fixed conforming in the mid-2s, and jumbo (*over $548k until Dec 31st, and over $625k after Jan 1st) ARMs in the 2s. As usual, rates will vary based on if it’s a purchase or refinance, credit score, equity in the home, type of home, or if the home is burned to a crisp and still listed for $400k.
Don’t Forget to Remember: Any purchase or refinance that closes with me I will waive $575 in lender fees! Grab yourself a cup of instant karma and pass my info along to any friends, family, coworkers, or people that like old stuff that can use this gift.
Family Quote of the Day 2: “I’m unmarried and childless, but sometimes I make up a fictional family for my Twitter jokes. My wife hates it but my kids think it’s hilarious.” – @ianpauldukes
Timeout For Trivia: Congrats to those of you who last week guessed Maroon 5. Want to be entered into a drawing to win a ‘Do One Thing Every Day That Scares Your Family’ Dish Towel? Simply email me the answer to this week’s Who Am I? question. Good luck: “It breaks my heart to tell you today would’ve been my birthday, but I guess a lot of rock n rollers die young. You don’t know how it feels to be dead but as an angel, it’s pretty cool learning to fly up here. Speaking of dead, my ’93 song whose title may make you think of a bad Halloween candy at the prom starred an actress who was a natural at playing dead, and the filming of the video didn’t take 9-10 weeks to shoot with her. Also, interesting side note about that song – a lot of people think the song by the Red Hot Chili Peppers titled Dani California was a rip-off of my song. Okay, that’s it for now. Oh, maybe one day Bob Dylan and Jeff Lynne will travel up to heaven to join us up here again.”
