Table Quote of the Day: “It isn’t so much what’s on the table that matters, as what’s on the chairs.” – W.S. Gilbert
Today in Economic History: It was on this date in 1896 at the Democratic Convention when William Jennings Bryan was nominated by his party to be the next President of the United States. His platform? Using silver as part of the national currency which opposed Republicans who wanted to keep using the gold standard that was already in place. I’m not sure who I would’ve voted for but I can tell you my financial net-worth is lacking in both silver and gold (*got a participation trophy for Little League years ago, but I’m thinking it’s fake gold). Here are some precious metals fun facts to start your day
Wuss’up This Week: You want to know what’s up? Not a heck of a lot. Today we’ve got the FOMC Minutes, tomorrow Jobless Claims, and on Friday the Wholesale Inventories Report. The FOMC stands for the Federal Open Market Committee (*not to be confused with BMOC – big man on campus) and the minutes are a detailed record of the committee’s policy-setting meeting held two weeks earlier. The minutes offer detailed insights regarding the FOMC’s stance on monetary policy, the future of interest rates, and what they brought in for lunch (*probably egg rolls, sesame chicken, and wonton soup). The minutes are really the only report that I can see that will sway interest rates in either direction this week. And where are rates, you ask?
Interest Rate Update: Today we find a conforming 30yr fixed loan (*that’s any loan at $548k or less) ranging from 2.99% – 3.25%, while jumbo 30yr rates (*over $548k) can be found slightly higher. Conforming fixed 15yr fixed as well as conforming ARMs can be found in the low-to-mid 2s. As usual, rates will vary based on if it’s a purchase or refinance, type of home, equity in the home, your credit score, and if you like interesting finds.
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 weird history facts that can use this gift.
Table Quote of the Day 2: “What idiot called it “King Arthur and the knights of the round table” instead of a “circumference sir conference.”” – @jonnysun
Timeout for Trivia: Congrats to those who last week guessed Mike Tyson. Want to be entered into a drawing to win a Peanut Butter Sampler? Simply email me the answer to this week’s Who Am I? question. Good luck: “It’s my birthday today and I’m, well, old I guess. When I became famous I changed my name but I’m not an astronomer – haha. An anagram for my name is ‘string roar’ and that would make sense if I was a guitarist. But I’m not. In my most famous group, I was the best at what I did, which yes – is a pretty creative sentence I just wrote. In my solo career, I had a handful of successful hits, including a couple number # 1 hits. The first one has the one-word title of something you can do on your phone, and the other one which wouldn’t be a big hit in the #MeToo era with the lyrics You’re my baby/ You’re my pet, but I think the bigger problem with that song would be the statutory rape implications from the two-word title.”
