Hey Mortgage Fans!
About a year ago, I started faking like I was losing my hearing when my wife would call me from a different room. This is because 9 times out of 10, it was to do her a favor when all I wanted to do was be lazy and stay on the couch. Fast forward a year, now she’s told my mom, who is concerned I’m too young to have hearing loss, and EVERY SINGLE TIME I talk to her on the phone, she brings it up. It gets worse, Mortgage Fans – a few days ago, my wife made an appointment for me to see her friend’s husband, who is a well-known otolaryngologist (in English: a hearing doctor). At this point, I’m not sure if I should keep this lie going and purposely fail any hearing test he gives me or just come clean. (*BTW – to the 7,448 people this blog goes out to, please do not tell my wife if you know her, we’ll keep this just between us). To wrap up today’s lecture, I’d like to say that sometimes it’s not good to lie. Moving forward, I wish I was lying about this week’s interest rates (more about that below).
Lying Quote of the Day: “A lie gets halfway around the world before the truth has a chance to get its pants on.” – Winston Churchill
Today in Economic History: It was on this date in 1938 when the campaign called ‘Know Your Money’ was created. While this sounds like the name of a bad game show, the campaign was created to raise awareness about legal currency and warn of the increasing problems of counterfeit money spurred by the depression.
Possible Game Show Answer: Fredric Bauer invented the Pringles can. When he passed away in 2008, his ashes were buried in one.
Wuss’up This Week: Lots of economic reports are being released in the next three days, which can have an impact on interest rates. Today we’ve got Retail Sales, PPI, and Core PPI (inflation reports!), tomorrow Initial Jobless Claims, and on Friday, the Consumer Sentiment Report (*a report that measures how people are feeling about the economy). If these reports come in good for the economy, you’ll see rates tick up, and vice versa if the numbers come up short.
Interest Rate Update: Gotta love banks getting shut down! (*as long as you have no money in them). The recent closures are bad for the economy, which always means a rate rally! A little dip from last week as today we find both 30yr conforming (*$726k or less) and jumbo (*over $726k) in the mid-to-upper 6s. As usual, rates will vary based on the type of home, equity in the home, your credit score, and if you like blessed images.
Don’t Forget to Remember: For any purchase or refinance 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 people with amazing aesthetic houses that can use this gift!
Lying Quote of the Day 2: “Just once in my life I’d actually like to see a liar’s pants catch on fire.” – Author Unknown
Timeout for Trivia: Congrats to those who guessed Jude Law last week.
Want to be entered into a drawing to win a Kermit Mug Shot T-shirt? Simply email me the answer to this week’s Who Am I? question.
Good luck: “It was on this date in 2013 my thriller movie was released, and if you didn’t like it, you can call me to complain, not emergency services. An anagram for my name is Really Herb or Hell by Rear. I won my Best Actress Oscar in 2001 for a movie whose title sounds like it can also be an adult movie. And they say after hitting the top, you have nowhere to go but down, and how true that was when I graciously accepted my Razzie Award for my lead performance in my 2004 superhero film that critics say was one of the worst movies ever made. Listen, every dog has his day, and that movie wasn’t one of them. You know what would be cool? If the author of this blog married me and took my last name, he’d be squared.”
#RockChalkJayhawk
