Shot Quote of the Day: “Life is like a camera. Focus on what’s important. Capture the good times. And if things don’t work out, just take another shot.” – Ziad K. Abdelnour (*side note: When I was 8 years old my parents took our family to Disney World, and while walking around I asked my Dad if I could take pictures using his new camera. After a lot of begging he reluctantly gave in which I have since told him was his biggest parenting mistake ever. I lost it somewhere in between It’s a Small World and Space Mountain. Long story short – when you’re a kid and you lose your dad’s camera, Disney magically transforms into the Crappiest Place on Earth).
Today in Economic History: It was on this day in 1929 when President Herbert Hoover went before Congress to tell them that the nation was recovering nicely from the stock market crash and didn’t see it as a problem.
Wuss’up This Week: This is always a big week with news that can sway interest rates in either direction as it all centers around jobs. Today we’ve got the ADP Employment Report, tomorrow Jobless Claims, and Friday’s biggie the Employment Numbers for November (expected: 571k new jobs). If these numbers come in better than expected you’ll see rates tick up, and vice versa if the numbers disappoint.
Interest Rate Update: Well, shortly before Thanksgiving Corona Beer Co. and Delta Airlines both wrote thank-you notes to Omicron for taking any negative attention away from them. Mortgage Fans should write thank you letters as well because the new variant is spooking investors enough to take money out of the market and invest it in bonds. When this happens interest rates get better as they are now .125% lower than they were last week. Today you’ll find a 30yr conforming fixed rate (*that’s for any loan at $625k or less) at 3.125% and jumbo 30yr fixed (*over $625k) about the same. 15yr fixed conforming rates remain in the mid-2s, and jumbo ARMs can still be found in the low-to-mid-to-upper 2s (how’s that for a non-committal rate). As usual, rates will vary based on if it’s a purchased or refinance, type of home, equity in the home, your credit score, and if you like adding illustrations to people’s Instagram photos.
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 facts that can use this gift.
Shot Quote of the Day 2: “In England ‘booster shot’ is spelled ‘borchestershire shot.’” – @SarahSurgey1
Timeout for Trivia: Congrats to those who guessed my future wife Rachel McAdams from the last blog. Want to be entered into a drawing to win a Muppet Show T-shirt? Simply email me the answer to this week’s Who Am I? question. Good luck: “It was on this date in 2018 I released my hit single – the biggest ever launch on YouTube Premiere – whose title might make you think of a checkout person in a busy store. I’ve come a long way since my first concert. Well, not a concert – I sang The Star Spangled Banner at the age of 8 prior to the Panthers vs. Blackhawks game in 2002. Pretty ironic since my most controversial moment of my career in 2015 had people thinking I hated this country! I first hit it big on a kid’s show that made me a teen idol but music was always my first love and that’s where I’ve become one of the biggest-selling artists of all time. Hey, speaking of first loves – I don’t know if this SNL cast member was mine or not – but sadly I can tell you we’ve both been victims of terrorism.”
