Economic Recap: Historical Insights, Trivia, and Market Outlook
Happy Quote of the Day: “Most folks are about as happy as they make up their minds to be.” – Abraham Lincoln
Today in Economic History: It was on this date back in 1812 when on the eve of war with Britain, President James Madison – in efforts to raise some capital for the war – convinced Congress to approve the very first war bond, for some $11-million dollars.
Possible Game Show Answer: Blood makes up about 8% of your total body weight. (*this just in: Lucky Charms make up close to 50% of mine.)
Wuss’up This Week: Before we look at this week, let’s reminisce back to last week when Fed Prez Jerome Powell said, “Inflation is not far from where it needs to be for the central bank to start cutting interest rates. I think we’re in the right place.” Mmmhmmm… yup! I wholeheartedly agree, sir! Hey, speaking of inflation we’ve got four inflation reports coming out tomorrow, along with U.S. Retail Sales report, and then on Friday the Consumer Sentiment Report. 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 Snapshot: Current Rates for Various Loan Types
Interest Rate Update: Today we find conforming 30yr fixed rates in the mid-6s for loans at $250k or less, and mid-6s to lower-7s on loans $250k-$766k. For jumbo loans (*over $766k) in the upper 7s for 30yr fixed and lower 7s for ARMs. As usual rates will vary based on type of home, equity in the home, your credit score, and if you know an animal that looks like food
Special Offer Reminder: $450 Lender Fee Waiver on Purchase or Refinance Loans!
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 90s bands’ names that can use this gift
Happy Quote of the Day 2: “I just want to be as happy as a character in the first half of a horror movie.” – @meganamram
Timeout for Trivia: Congrats to those who last week guessed Dave Franco!
Guess the Celebrity Trivia Contest: Win an “I Love the 2000s” Poster
Want to be entered into a drawing to win an I Love the 2000s Poster? Simply email me the answer to this week’s Who Am I? question. Good luck: It’s my birthday today and I’m kind of old, it’s been years since I graduated from Goddard College. I know what you’re thinking, ‘He would never let his kids go to a college no one has ever heard of.’ Listen, you’ll have to talk to my wife about that, and that’s all I’m going to say. I like starring in movies, do you remember my 1996 film that earned me an Oscar nomination for best actor, eh? More recent films include my 2007 film with three other guys as costars (a home repair guy, a disco dancer, and a bad boy) and my 2011 movie with a handsome man as the lead that can be retitled The Car Legal Advisor. Last hint: an anagram for my name is All Way Mimic.”
The Adieu Mortgage Haiku:
What makes you happy?
For me it’s always low rates
Oh, and Lucky Charms!
