Hey Mortgage Fans!
Giving Quote of the Day: “We make a living by what we get, but we make a life by what we give.” – Winston Churchill
Today in Economic History: It was on this date in 1867 when Secretary of State William Seward agreed to purchase Alaska from Russia for seven-million dollars. He was ruthlessly mocked for purchasing what people called ‘a big block of ice’ but in the 1890s, gold was discovered there, and Seward told the press, “I knew there was gold there the whole time, you morons!” Maybe I made that quote up but I’d like to imagine he was telling people that. Here are 50 fun facts about Alaska to start your day.
Wuss’up This Week: Lots of stuff going on that can sway interest rates in either direction. Today we’ve got the Pending Home Sales report, as well as Fed Governor Barr testifying to the House on banks, tomorrow the Jobless Claims Report being released, as well as the Boston Fed President Collins speaking, and on Friday a handful of inflation reports as well as the NY Fed President Williams speaking. These Fed peeps – they can cause rates to go up or down, usually up, based on what they say. They are annoying to me.
Interest Rate Update: We saw some relief last week when more banks failed which is a good thing for rates. Why? When there is instability, investors will pull their money out of the market and invest it in the safe haven known as bonds. (the 10yr, not James). When that happens rates tend to rally, and this week we find conforming 30yr fixed rates (*that’s for any loan at $726k or less) ranging anywhere from the high-5s to the mid-6s, and Jumbo 30yr fixed rates (*over $726) in the mid-to-upper 6s. As usual, rates will vary based on the type of home, equity in the home, your credit score, and if you like Albert Einstein facts
Don’t Forget to Remember: Any purchase or refinance loan that closes with me, I will waive $450 in lender fees! Grab yourself a cup of instant karma and pass my info along to any friends, family, coworkers, or people that like random facts
Possible Game Show Answer: A “contronym” is a word that’s its own opposite. For example: if you seed the lawn, you add seeds, but if you seed a tomato, you remove them. (*I still don’t know what this means, Mortgage Fans).
Giving Quote of the Day 2: “Every time I tie my shoe, I feel like I’m giving a faraway sniper the go signal.” – @thesulk
Timeout for Trivia: Congrats to those who guessed Jordan Peele last week.
Want to be entered into a drawing to win a Mini Rolling Stones Action Figure Set? Simply email me the answer to this week’s Who Am I? question.
Good luck: “Not to start the trivia off on a sad note but it was on this day in 2017 when my funeral took place. Helluva life though, I hit it big with my first group whose name was a verb that means, well, hitting it big – or hitting something.. My last name can be a first name, and my first name is the same name of a boy rocker in the 80s. I was big in the 80s and 90s, selling over 100-million albums worldwide. Millennials may not know who I am but they’ve heard the Christmas song I was a part of. It was sung by a super-group named after something you put on a wound, and it was recorded to help with the famine in Ethiopia.”
