People Quote of the Day: “I’ve learned that people will forget what you said, people will forget what you did, but people will never forget how you made them feel.” – Maya Angelou
This Week in Economic History: It was on July 26th, 1908 when the FBI was created. Attorney General Charles Bonaparte ordered a group of newly hired federal investigators to report to Chief Examiner Stanley Finch of the Department of Justice. A year later the Office of the Chief Examiner was renamed the Bureau of Investigation, and then in 1935 it became the Federal Bureau of Investigation. Okay, I know what you’re thinking: Did Barry try to pick up women in college by telling them he was in the FBI? The answer of course is no. And as an agent of the FBI I couldn’t tell you even if it was true. I know what else you’re thinking: Can we get nine interesting facts about the FBI? Yes, here you go.
Wuss’up This Week: Lots and lots of economic data coming out as we speak! Today we’ve got the Durable Goods Orders Report which will take a backseat to Fed Chair Jerome Powell speaking about rates. He’s going to raise them… three quarters? Half a point? A quarter a point? Smart money says .75% and that’s probably what’s going to happen. Tomorrow the Jobless Claims Report, and then a whole slew or reports being released on Friday that can sway rates in either direction: Four reports on inflation, Consumer Spending, and the U of Michigan Consumer Sentiment Report.
Interest Rate Update: Today we find a conforming 30yr fixed (*that’s for any loan at $647k or less) in the high-5s/low-6s, and jumbo 30yr fixed (*over $647k) anywhere from high-4s to high-5s. As usual rates will vary based on type of home, equity in the home, your credit score, and if you like finding interesting things on the beach.
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 if you like to see what celebrities would look like as the opposite gender.
People Quote of the Day 2: “Laundry baskets are just closets for lazy people.” – @immelaniegibson
Timeout for Trivia: Congrats to those who last week guessed Chris Cornell. Want to be entered into a drawing to win an Art T-shirt? Simply email me the answer to this week’s Who Am I? question. Good luck: “It was on this day in 2001 when the movie I directed came out. A remake of a 1968 movie which will make you think twice about going to the zoo. You heard me right, I’m a famous director, and you know who likes to be in my movies? A dude you might’ve seen in court recently. Two of my earlier movies includes one whose title is something you might call a little boy, and the other had a main character you wouldn’t want to get a massage from. One more hint: an anagram for my name is ‘turbo mint’, which sounds like something the cast could’ve gotten in my 2005 movie that was a remake of a Gene Wilder movie.”
