Playing Quote of the Day: “We don’t stop playing because we grow old; we grow old because we stop playing.” – George Bernard Shaw
Possible Game Show Answer: The term ‘lawn mullet’ means having a neatly manicured front yard and an unmowed mess in the back. And with that, Mortgage Fans, here are the greatest mullets in pop culture history
Today in Economic History: It was on this date in 1792 when twenty-four traders meet under a buttonwood tree in lower Manhattan to work out the rules and regulations for the speculative market. The modest two-sentence agreement gave birth to the New York Stock Exchange (*and of course a lot of greed, corruption, and a ton of bad stocks. I like to brag that in the 90s I bought a hundred shares of Natural Health Trend (NHTC) which gave a return of negative 98.81%. And that, Mortgage Fans, is just one of a bunch of reasons why I won’t be retiring any time soon. Anyway… here’s some fun reading on the worst investments ever
Wuss’up This Week: Well…. here we go again – a slew of inflation reports coming out that can sway interest rates in either direction. The last time these were released it caused rates to climb about a half a percent. How many of you think these reports will show inflation has come down, let me see a show of hands…. (counting…..) Only 16 of you?? We shall see as today we have four inflation reports along with U.S. Retail Sales, tomorrow Housing Starts and Fed Presidents speaking, and then on Friday the Leading Economic Indicators.
Interest Rate Update: Today we find a conforming 30yr fixed loan (*at $250k or less) at around 6.99%-7.25%, a touch higher for loans at $251k-$766k, and for jumbo mortgages (*over $766k) we have 7yr ARMs in the mid-7s. As usual rates will vary based on if you’re a first-time homeowner, type of home, equity in the home, your credit score, and if you have excellent office supplies
Don’t Forget to Remember: Any purchase or refinance loan closing with me I will waive $450 in lender fees! Grab yourself some instant karma and pass my info along to any friends, family, coworkers, or people that like funny animal pics that can use this gift.
Playing Quote of the Day 2: “The great thing about playing the trombone is no one knows if you’re good at it or not.” – @sofarrsogud
Timeout for Trivia: Congrats to those who last week guessed Billy Joel!
Want to be entered into a drawing to win a Meditating Bigfoot? Simply email me the answer to this week’s Who Am I? question. Good luck: “It was on this date in 2014 I starred in a movie that was written/produced/directed and acted in by a man who created three TV shows that – when mashed together – could be titled The American Family Show. The movie wasn’t the best – a 33% rating on Rotten Tomatoes. My 2004 movie (this blog’s author’s favorite comedy) more than doubled that rating; and if it’s females rating that movie then I can say they were nice to me. Before both of those movies you might have seen me in some soap operas in the late 90s/early 2000s, and then from there it was a UPN mystery series (2004-2006) which could be retitled Planet Candy Bar. In 2020 I was nominated for an Oscar and Golden Globe for my acting in a 2020 biopic, mank you very much! While I didn’t win those awards, I did take home the Golden Globe in 2022 portraying a woman who scammed a lot of investors for her company whose name sounds an awful lot like an Avengers villain.”
The Adieu Mortgage Haiku:
Just like bad mullets
Interest rates can be saved
By shaving some off
