Public service announcement to my wife: This marriage will now take a break while the NFL season officially opens tomorrow – yeeehaaa! (*for those of you who say I’m being a typical guy, I’d like to point out that the ‘Housewives of’ series has no offseason – I’m tortured with it daily).
Television Quote of the Day: “Kids don’t remember their best day of television.” – Author Unknown (*I do – it was watching football – yeeeehaaaa!!)
Today in Economic History: It was on this date in 1997 when The Millionaire Next Door, a guide on how to become rich in the American economic system continued its run on the New York Times Best Seller list. (*I have yet to find a publisher for my book ‘The Thousandaire Next Door)
Wuss’up This Week: Every single 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 the Beige Book Report, tomorrow Fed Chair Jerome Powell will speak (*don’t worry, Mortgage Fans – he’s not going to raise rates until Sept 20-21st), and tomorrow a few more Fed chiefs will speak about how they don’t agree with what Powell said yesterday. Sometimes all this Fed talk can spook the market, so look for rates to tick up this week.
Interest Rate Update: Today we find conforming 30yr fixed rates (*$647k or less) in the very high-5s/ low 6s, and jumbo 30yr fixed (*over $647k) in the high-4s all the way to the high-5s. ARMS are still just a sliver less than fixed rates – not worth the gamble unless you’re 100% positive you’re not going to have the loan long-term. As usual rates will vary based on type of home, equity in the home, your credit score, and if you like non-advertisement advertisements.
Don’t Forget to Remember: Any purchase or refinance loan that closes with me I will waive a BIG chunk of lender fees! Grab yourself a cup of instant karma and pass my info along to any friends, family, coworkers, or people that like horror movie bloopers that can use this gift.
Television Quote of the Day 2: “On cable television they have the Weather Channel – 24 hours of weather. We had something like that where I grew up. We called it a window.” – Dan Spencer
Timeout for Trivia: Congrats to those who last week guessed Bryan Cranston. Want to be entered into a drawing to win a Windex T-shirt? Simply email me the answer to this week’s Who Am I? question. Good luck: “In two days it will be my birthday and I guess you can say I’m a grown up. I’ve got two daughters which makes me a happy daddy. Wait, did I just combine movie titles? Anagram for my name is ‘Sad Alderman’ but I don’t think I’ve ever played a politician – although I have been in plenty of sad movies – critics would call these comedies that were horrible. My 37 Golden Raspberry Awards rank 2nd only to Sylvester Stallone. I don’t care – I’m laughing all the way to the bank – my estimated net worth is $400-million, so maybe I’ll take a chunk of that and buy me some nice jewelry that you may have seen in my critically acclaimed 2019 movie (whose title could double as a European adult flick).”
Disclaimer: The views and opinions expressed herein are those of the author, Barry Schwartz and do not necessarily reflect the views or positions of any entities they represent.
