I’ve really been liking music by Olivia Rodrigo; she’s coming to Chicago in April and I’m hoping my daughter will ask me to go with her, because I don’t want to be that creepy middle-aged guy by himself at a concert where the average age is 17. (*I think without me there the average age would be 12). Okay, that’s enough self-deprecation for the day, let’s lead off with some music quotes.
Music Quote of the Day: “One good thing about music, when it hits you, you feel no pain.” – Bob Marley
Today in Economic History: It was on this day in 1743, Mayer Amschel Rothschild was born in Frankfurt, Germany. Mayer and his five sons living around Europe started building the family reputation in banking. The family used things like the French Revolution and other problems in Europe for financial gain. (*this made me think – thank God no one in this country would ever use problems here for financial gain.)
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. Not much going on today but tomorrow we’ve got Initial Jobless Claims, Gross Domestic Income, and New Home Sales, and on Friday the U of Michigan Consumer Sentiment Report along with three inflation reports. Out of all of these it’s the inflation that will impact the rates the most; we’ve seen what they’ve done in a short period of time, right? I remember the good old days of 2021 when a 30-year fixed rate was in the 2s. And now?
Interest Rate Update: Today we find a 30-year conforming fixed rate (*that’s for any loan at $647k or less) at 4.20% and jumbo 30-year fixed rates (*over $647k) around the same give or take. Don’t like those rates, Mortgage Fans? Then you should get an ARM – a conforming or jumbo 10yr ARM can be found in the low-3s. As usual, rates will vary based on if it’s a purchase or refinance, your credit score, type of home, equity in the home, and if there are things about your home that bug you.
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 that like cool photos that can use this gift.
Music Quote of the Day 2: “When I was a little boy I told my dad, ‘When I grow up I want to be a musician.’ My dad said, ‘You can’t do both, Son.’” – Chet Atkins
Timeout for Trivia: Congrats to those who last week guessed Chadwick Boseman. Want to be entered into a drawing to win a Cereal Box Jigsaw Puzzle? Simply email me the answer to this week’s Who Am I? question. Good luck: “It’s my birthday today – woohoo! (I said that in my British accent). I’ve been married to a guy for 12 years that I met at the office… well, I didn’t work there but he did. Professionally I would say my breakthrough came in 2006 when I starred in a movie with a title that could be renamed ‘The Guy Down Below Likes to Put on an Italian Luxury Brand.’ Actually the four-word title of the movie is better than that. Another four-word titled movie I starred in came out in 2012 – it was about a long period of time before getting married and my costar was a guy who never met my mother. Okay, what else can I tell you? Oh, an anagram for my name is ‘In my bullet’, and let the record show I never killed anyone with a bullet but I did kill a guy with a corkscrew in my 2016 movie whose title had a word that means a form of transportation.”
