Hey, Mortgage Fans!
I know it’s happened to all of us, but there should be a support group for people who have run into dogs that sniff their crotch. My next-door neighbor has a bulldog named Moose, and every time I run into them, Moose beelines right at me like Taste of Chicago is happening in my pants. So yeah, I hope it won’t happen, but it happens every time. Hope is a meaningless word – it’s crapshoot. I hope the Bears win the Super Bowl again in my lifetime. I hope they find a cure for male pattern baldness. I hope Moose runs away. But if I say ‘I hope interest rates drop soon that is a negative because it’s not a crapshoot`. The one thing I learned from my high school physics class (before I failed it) is that what goes up must come down. Bold prediction but I think rates will be at least a half a point lower come December…. I hope.
Hope Quote of the Day: “May your choices reflect your hopes, not your fears.” – Nelson Mandela
This Week in Economic History: It was on July 7th, 1896 when at the Democratic Convention, William Jennings Bryan was nominated by his party to be the next president of the United States. WJB’s main issue during the election was using silver as part of the national currency when the Republicans wanted to keep using the gold standard that was already in place. He might’ve been onto something – did you know silver is good for your health?
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. This week it’s all about employment as we have the ADP Jobs report today, Initial Jobless Claims tomorrow, and the biggie on Friday: Employment Numbers for June. Should these numbers come out better than expected you’ll see rates tick up, and vice versa if the numbers disappoint.
Interest Rate Update: Today we find a 30yr conforming (*under $726k) fixed rate ranging from the high-6s to low 7s. Jumbo (*over $726k) 30yr fixed right around the low-7s. As usual rates will vary based on type of home, equity in the home, your credit score, and if you like helpful websites
Don’t forget to Remember: Any purchase or refinance loan that closes with me, I will waive $450 of the lender fees! Grab yourself a cup of instant karma and pass my info along to any friends, family, coworkers, or people that like unique artifacts that can use this gift!
Possible Game Show Answer: The brand name Spam is a combination of ‘spice’ and ‘ham’. (and what would this blog be if I didn’t leave you with at least 10 fun facts about spam
Hope Quote of the Day 2: “I hope when I inevitably choke to death on gummy bears people just say I was killed by bears and leave it at that.” – @markydodo
Timeout for Trivia: Congrats to those who guessed Kathy Bates last week.
Want to be entered into a drawing to win a Bob Ross Bobblehead. Simply email me the answer to this week’s Who Am I? question. Good luck:“It was on this date in ’94 when my movie was released – it was made on a $55M budget and made $678M at the box office! Y’know, with the box office you never know what you’re going to get. Anyway, I’ve had a long movie (and TV) career – I’ve been in space and on the sea, and I was in an HBO series whose title would make you think it was about the Jackson Five, or Allmans, or Jonas’, etc. but nothing like that at all. In 2019 I played a guy who loves donning sweaters and being nice. Yeah, I usually play the nice guy, the good guy. Did you know I played a sheriff in a movie and its 3 sequels – my name in those would make you think of a Cheers bartender. Speaking of names, an anagram for mine is Ham Knots?”
