Politics and voting has always been a sore spot for me. In 8th grade I ran for Treasurer and lost by one vote. One. Stinking. Vote. Many years later I ran into my Math teacher at a restaurant and reminisced about the good ol’ days when the subject turned to that election. He told me, “Barry, you were horrible at math! Even if you would’ve won that election we would’ve fixed it so you didn’t win.” He went on to tell me about the laughs they would have in the Teacher’s Lounge about me running for Treasurer. It was true – I was horrible at math. (BTW – many people ask me how I became a mortgage broker when math was always my worst subject. To those people I quote the great Peter Brady in the Found Wallet episode. He was counting the money and when his mother asked him how he got to be so good at math, Peter replied, “This isn’t math, it’s money.”). Anyway… with just a couple weeks until the election I hope everyone is planning on voting if you haven’t done so already. As crazy as things get here we still are blessed to live in a country where we can actually vote. I’m Barry Schwartz, and I approved this message. Onto the blog…
Idea Quote of the Day: “A half-baked idea is okay as long as it’s in the oven.” – Author Unknown (*this was from my fortune cookie last night)
This Week in Economic History: It was on October 19th, 1960 the U.S. Government decided to stop exports to Cuba, signaling a surge in efforts to weaken Fidel Castro’s communist government. Truth be told, I don’t know much about Cuba but I do know that Cuban cigars are hard to get, expensive, and that the U.S. tried to get Castro to smoke a poisonous one in efforts to assassinate him. (*side note to parents of young kids: with Halloween right around the corner make sure you inspect any cigars your children bring home in their bag of goodies before letting your kids smoke them.) Here’s ten fun facts about Cuban cigars.
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’ve got the release of the Beige Book, and tomorrow Jobless Claims and Existing Home Sales. I know you’re thinking, “Barry, what would you do for a Klondike bar?” I don’t know, but I do know you’re also thinking, “What’s the Beige Book?” This is a report published eight times a year by each Federal Reserve Bank on current economical conditions around the country. Doesn’t sound like a fun read, I’m gonna wait for the movie on this one.
Interest rates remain fairly stable just two weeks ahead of the election. Today we find 30-year conforming loans (*that’s any loan at $510k or less) anywhere from 2.625% – 2.99%, and jumbo loans (*over $510k) anywhere from 2.875% – 3.375%. As usual rates will vary based on purchase or refinance, type of home, equity in the home, your credit score, and if you like seeing things that get worn down over time.
Don’t Forget to Remember: Any purchase or refinance loan that closes with me I will waive $575 in closing costs (and more for essential workers!). Grab yourself a cup of instant karma and pass my info along to any friends, family, coworkers, or teachers that disappear from 2nd grade Zoom meetings that can use this gift!
Idea Quote of the Day 2: “Dumbo sounds like a good idea until you think about how much poop a flying elephant would drop.” – @suecorvette
Timeout for Trivia: Congrats to those who last week guessed Usher. Want to be entered into a drawing to win a Pancake Flipper? Simply email me the answer to this week’s Who Am I? question. Good luck: “It was on this day in 2018 that I was presented with the Mark Twain Prize, comedy’s top honor. What can I say? I’m funny. I’m one of the only people to win Emmy Awards for three different sitcoms. My career started a long time ago when I dropped out of college my junior year to join SNL. After that it was on to the big screen where I appeared in National Lampoon’s Christmas Vacation and Deconstructing Harry. I know, I know – I don’t make the best movies so let’s concentrate on my TV career. Remember my series that ran mostly in the 90s? I was queen of the castle in that one, and one of my favorite things to do would be to shove people and shout this two-word phrase that is also the title of a 2017 horror movie that was up for an Academy Award. My cable sitcom ran just as long, and if you were dyslexic you might think the title of the show referred to being annoyed or irritated. You know who could learn nothing from me by watching that show? A certain someone who was the District Attorney of San Francisco from 2004-2011.”
