Lawn Quote of the Day: “If the grass is greener somewhere else… start watering your own lawn!: – Michael Beckwith (*Had my first sort of ‘Get off my lawn!’ moment the other day. I was in my robe and went outside to get the mail and a teenage kid came zooming by in his car and I yelled, “Slow down!”. As I stood there I came to the sad realization I had become ‘that guy’.)
Today in Economic History: It was on this day in 1998 Compaq and their keyboard subsidiary Digital Equipment Corp (DEC) came out the victors when a jury threw out a lawsuit filed against them. The case was filed on behalf of nine people who claimed they developed repetitive stress injuries from using DEC’s keyboards. And that, Mortgage Fans, is just another in a long list of ridiculous lawsuits that get filed every day. Here are seven that made history
Wuss’up This Week: This is a busy week for economic reports that can sway interest ratesin either direction, but the three biggest ones (Retail Sales, Producer Price Index, and New Construction Housing Data) will take a backseat to the Fed’s announcement today on when they will start to taper their purchases of bonds. The Fed buys 120 billion of bonds every month – this is called quantitative easing (*this sounds like a term that would be used in a Pepto Bismol commercial) and it helps keep rates low. We’ll see, Mortgage Fans. In the meantime let’s talk about rates…
Interest Rate Update: Today we find 30yr fixed conforming rates (*that’s for any loan at $548k or less) ranging from 2.99%-3.25%, and jumbo 30yr fixed (*over $548k) at around 3.125% give or take. 15yr fixed rates can be found in the low-to-mid 2s as well as conforming ARMs. As usual rates will vary based on if it’s a purchase or refinance, type of home, your credit score, or if your pet takes weird pics.
Don’t Forget to Remember: Any purchase or refinance loan that closes with me I will waive $575 in lender fees. Grab yourself a cup of instant karma and pass my info along to any friends, family, coworkers, or people who have saved a dog from a bear that can use this gift!
Lawn Quote of the Day 2: “My wife lost a bet and is now mowing the lawn. Well, not so much lost a bet as married the wrong guy.” – @LaytesAgain
Timeout for Trivia: Congrats to those who guessed Rod Stewart last week. Want to be entered into a drawing to win a Fried Chicken Necklace ? Simply email me the answer to this week’s Who Am I? question. Good luck: “It was on this date a long time ago that my movie opened with the one word title that may make you think of bacon. That movie produced a bunch of songs played on the radio, as well as my movie the previous summer. In the late 80s I teamed up with a former Cheers star to make a trilogy of movies where the main character was voiced by a guy who swears his action flick was not a Christmas movie. Wish I could’ve used him as a voiceover to help me with my screw up at 2014 Academy Awards.”
