This Week in Economic History: It was on Sept 27th, 1995 the Treasury Department unveiled a new version of the $100 bill, enlarging the picture of Ben Franklin and moving him off center. In real life Franklin was a bit off-center in the fact he tried to create his own alphabet – that’s one of 11 cool facts I never knew about him
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. This week it’s all about jobs as today we have the ADP Employment Report, tomorrow Jobless Claims, and Friday’s biggie the Employment Numbers for September combined with the Unemployment Rate (which last month was at 8.4%). If these reports come in better than expected you will see interest rates tick up, and vice-versa if the numbers disappoint. And while we’re on the subject of jobs here’s a list of 14 unusual jobs.
Today is your LAST DAY to lock a loan before interest rates go up on conforming loans! As I have reported on in previous blogs the Fannie Mae refinance tax kicks in tomorrow. This means that conforming rates will be .125%-.25% tomorrow on all refinances. Lock your loans now or forever hold your interest. A 30yr fixed loan (*at $510k or less) can be found anywhere from 2.75% – 3.375% with jumbo loans in the same range give or take. 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 to watch Seinfeld hang out with Superman.
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 who like to drive in different cities without leaving their homes that can use this gift.
Talking Quote of the Day 2: “I recommend you chickens learn to talk. Nobody ever said let’s go get a bucket of parrot.” – @crankfetter\
Timeout for Trivia: Congrats to those who guessed Tim Robbins last week. Want to be entered into a drawing to win Golden Girls crew socks? Simply email me the answer to this week’s Who Am I? question. Good luck: “Hey, Mortgage Fans – it’s my birthday tomorrow and did you know I’ve appeared in music videos for Fiona Apple and Kanye West? I’m not singer though – perhaps you saw me in a trilogy of movies – the second two were dramas and the first one a comedy. (*that’s the author of this blog saying how un-funny the second and third movies were. I still call them comedies but do wish I could forget them). Speaking of forgetting, the main cast forgot a lot in the first one that came out in 2009 and the premise of the movie was trying to remember. Here’s something you’ll want to remember: my show that appeared online but not on TV – it’s title could’ve been renamed In the Middle of a Pair of Flowerless Plants.”
