Hey, Mortgage Fans!
Kid Quote of the Day: “As a kid, I used to think $5,000 was a lot of money. But now that I’m an adult, I think it’s a tremendous amount of money.” – @tylerschmall
Today in Economic History: It was on this date in 1824 when ground was broken to build a residential area on Fifth Avenue in New York. Today its known for a mile of high-end shopping stores including Saks Fifth Ave. (side note: Sak’s shoe floor has its own zip code)
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 the job market starting with the ADP Employment Report, tomorrow Jobless Claims, and Friday’s biggie the New Jobs Numbers from July/ the U.S. Unemployment Rate. If these numbers come in good for the economy you’ll see rates tick up, and vice versa if the numbers disappoint.
Interest Rate Update: Today we find a conforming 30yr fixed loan (*that’s for any loan at $726k or less) in the low-to-mid 6s for any loan at $250k or less, upper-6s/lower-7s over $250k, and for jumbo loans (*over $726k) in the low-to-mid 7s for a fixed rate and jumbo ARMs are about a quarter less. As usual rates will vary based on type of home, equity in the home, your credit score, and if you like funny signs.
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 fans of creative bus stops that can use this gift.
Possible Game Show Answer: Froot Loops are all the same flavor despite their different colors. (*I know, this shocked and disappointed me too when I read it. The majority of time with my shrink this week will be spent discussing this.)
Possible Game Show Answer: Alaska is simultaneously the westernmost and easternmost state.
Kid Quote of the Day 2: “When I was a kid I used to pray every night for a new bicycle. Then I realized that the Lord doesn’t work that way, so I stole one and asked Him to forgive me.” – Emo Philips
Timeout for Trivia: Congrats to those who last week guessed Kevin Spacey.
Want to be entered into a drawing to win a Donald Duck T-shirt . Simply email me the answer to this week’s Who Am I? question. Good luck: “It’s my birthday today, and I made my own cake. I can make more than that – an anagram for my name is ‘wet tarter mash’ and while that certainly doesn’t sound appetizing, I can make it taste good. Did you know I’m a Sports Illustrated swimsuit model?! It’s true, but I’m known for so much more than my body. And did you know I spent time in prison? Yup! I’d tell you more about me but really, I don’t like when people snoop into my life.”
