Remember Quote of the Day: “When everything seems to be going against you, remember that the airplane takes off against the wind, not with it.” – Henry Ford
Today in Economic History: It was on this date in 1988 that the Enron Corporation made a deal to acquire British-based Wessex Water for $2.2 billion-dollars. Let’s thank the Stock-Market Gods that I knew nothing about stocks in 1988 or I for sure would’ve bought this up. Luckily for me I chose to lose my money in real estate instead (see: 2008).
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. Today we’ve got Mortgage Applications and New Home Sales, tomorrow Durable Goods and Jobless Claims, and on Friday the GDP Report. As usual if these reports come in good for the economy the rates will tick up and vice-versa if these numbers show a sputtering economy.
Rates continue their up and down patter this summer as you’ll find a 30-yr fixed rate in the upper-3s/low-4s, and adjustable rate mortgages a sliver less. As usual rates will vary based on type of home, equity in the home, your credit scores, and if you find funny fake products on store shelves.
Don’t Forget to Remember: I am extending my Cinco de Mayo Special thru 30 de septiembre. (*I think that’s right? Give me credit, Mortgage Fans – I still have trouble with English!) – any purchase or refinance loan closing with me during that time will get a $500 closing cost credit. Grab yourself a cup of instant karma and pass my info along to your friends, family, coworkers, and co-slackers that can use this gift!
Remember Quote of the Day 2: “Remember those girls in college who neatly highlighted all of their textbooks in pink? They work at the cosmetic counter at Macy’s now.” – @hormonella
Timeout for Trivia: Congrats to those who last week guessed Kristen Bell. Want to be entered into a drawing to win Lil’ Nitro – the World’s Hottest Gummy Bear? Simply email me the answer to this week’s Who Am I? question. Good luck: “It’s my birthday today and I am not black or white – although you might remember seeing me in color early in my career. I’m one of the only people to have a number one record and movie in the same week. Movies though…. Yeah, I’ve made some bad ones (or ‘maid some bad ones’ hehe…), and in fact in 2003 I starred in one that many consider the worst movie ever made! (*my co-star in that movie I think is the only person ever to play two different superheroes). I married a guy with two first names in 2004 and divorced him 2012. A few months ago I announced my engagement to a guy I started dating a few years ago. We’ve taken it slow, I joke it took him a while to get past first base with me.”
