May 29, 2024 By Barry Schwartz

Feet Quote of the Day: “You have brains in your head. You have feet in your shoes. You can steer yourself in any direction you choose. You’re on your own, and you know what you know. And you are the one who’ll decide where to go.” – Dr. Seuss

This Week in Economic History: It was on May 31st, 1977 when after three years of construction, the trans-Alaska oil pipeline was finally completed. The length of this pipeline is 800 miles, and the minimum volume of oil barrels needed to give the pipeline its most efficient flow is 9,059,057 barrels. Ya want know how many gallons are in a barrel? That would be 42, Mortgage Fans. And uh, that’s about all I can tell you about the Alaskan Pipeline. But as long as we’re talking about barrels, did you know there’s a number of people who have gone over Niagara Falls in a barrel?

Possible Game Show Answer: Spiders recycle webs by eating them. (*Note about spiders: I like to think I play the role of “man” well. I’m a decent athlete, I can change the oil in my car, and my entire autumn Sundays are spent watching football. However, any appearance by a spider in my house and I run/scream like a 5-year-old schoolgirl. Nothing like a tiny insect to drain any and all of the masculinity I have in me in less than a second.)

Wuss’up This Week: Every day reports about our economy are released into the wild, and it’s these reports that can sway interest rates in either direction. Today we have two Fed Presidents speaking along with the Fed Beige Book Report, tomorrow Pending Home Sales, and two more Fed Presidents speaking, and on Friday a whole slew of our favorite reports: inflation! As usual if these reports come out good for the economy you’ll see rates tick up and vice-versa if the numbers disappoint.

Interest Rate Update: Today we find a conforming 30yr fixed rate at around 6.625% for loans at $250k or less, and upper-6s/low-7s for loans at $251k-$766k, and for jumbo loans (*over $766k) around mid-7s for both ARMs and fixed rates. As usual rates will vary based on your credit score, if you’re a first-time homebuyer, type of home, equity in the home, and if you live in a 3-D printed home

Don’t Forget to Remember: Any purchase or refinance loan that closes with me I’ll waive $450 in lender fees! Grab yourself a cup of instant karma and pass my info along to any friend, family, coworkers, or people that like street art that can use this gift

Feet Quote of the Day 2: “My son said if a baby comes out feet first technically it wears its mom as a hat and I can’t unsee this.” – @itssherifield

Timeout for Trivia: Congrats to those who last week guessed Drew Carey.

Want to be entered into a drawing to win an Alice Cooper 8” Action figure? Simply email me the answer to this week’s Who Am I? question. Good luck: It’s my birthday today, and man, how cool would it be to have my dead grandpa sing Happy Birthday to me. Speaking of singing and music, I made my feature film debut in a 2010 musical biopic whose title is something a lot of kids threaten to do when their parents are bugging them. In 2011 I starred in a medical thriller with my costar whose first name makes you think of Disney World, and last name of flowers. I had a minor role in a 2012 film whose 2-word title both started with the letter M, and I had my first big-budget release in a 2015 action film where the first two words of the movie’s title also started with M. I earned a Golden Globe nomination for my work as an escort on a cable series that ran from 2016-2019. Circling back to my birthday, I’d like to say that my grandpa was dead before I was born, so let me switch that to my late mother who could sing too – and so could her 2nd husband (also deceased) who had the almost identical nickname as my grandpa!”

The Adieu Mortgage Haiku:

Feet – like rates – get cuts

Sometimes big and sometimes small

And some not at all

About The Author


Barry Schwartz

Originally from Wilmette, Illinois, Barry graduated from the University of Kansas in the late 80s and started working for Perl Mortgage in 1998. Barry's drive and motivation came from his first home buying experience. His dedication to clients has helped Barry win industry recognition and rankings in the Top 40 Under 40 and Scotsman Guide Top 200.

Learn More
This entry was posted in Barry Schwartz. Bookmark the permalink.

Comments are closed.