Heart Quote of the Day: “The most beautiful things in the world cannot be seen or even touched, they must be felt with the heart.” – Helen Keller
This Week in Economic History: It was on August 6th, 1997 when Microsoft bought a minority stake in the struggling computer company Apple. Until this $150 million dollar purchase Microsoft and Apple were considered enemies. Apple CEO Steve Jobs caught a lot of flack for this, but Apple made a huge comeback through the years. With the sales of the popular iPod, iPhones, and the four wireless earbuds I’ve purchased because I keep losing them, Apple is once again the most profitable computer company in the world.
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. Not a whole lot going on today but tomorrow we have Jobless Claims, and on Friday the July Jobs Report (expected: 250k new jobs, 3.6% unemployment rate). If these numbers come in better than expected you’ll see rates tick up and vice versa if the numbers disappoint.
Interest Rate Update: Last week the Fed raised the prime rate .75% and mortgage rates…fell. That happens, Mortgage Fans, albeit my guess is a briefly until they continue their ruthless climb. As of today a 30yr fixed conforming loan (*over $647k) can be found in the high-5s give or take a little, and jumbo 30yr fixed (*over $647k) anywhere from the high-4s all the way to the high-5s. As usual rates will vary based on type of home, equity in the home, your credit score, and if you like products with cool surprises.
Don’t Forget to Remember: Any purchase or refinance loan that closes with me I will waive a big chunk of lender fees! Grab yourself a cup of instant karma and pass my info along to any friends, family, coworkers, or people that like Where’s Waldo pics.
Heart Quote of the Day 2: “The worst time to have a heart attack is during a game of charades.” – Demetri Martin
Timeout for Trivia: Congrats to those who last week guessed Tim Burton. Want to be entered into a drawing to win a Log Cabin Syrup Painting? Simply email me the answer to this week’s Who Am I? question. Good luck: “It was on this date in 2008 my song hit # 1 on the UK charts but never higher than #23 here in America despite having most of the summer to get there. Not totally an original song, it’s a mashup of werewolves and another song from a band that never should’ve flown. My stage name is what most people know me by – the first name is something you’d call a young person, and the last name is something you would find on the ground. In the 90s I had a handful of alcohol-related arrests, my agent told me I was drowning in alcohol. So in 2006 I married an actress who could save me from drowning (if you believe she’s a believable actress), but, uh- that marriage only lasted four months.”
