Minute Quote of the Day: “For every minute you remain angry, you give up sixty seconds of peace of mind.” – Ralph “where’s” Waldo Emerson
Today in Economic History: It was on this day in 1966 the first batch of new $100 was printed. This new bill featured the now-familiar motto “In God We Trust.” Did you know this is the largest bill in circulation (*unlike the trillion-dollar bill Mr. Burns had in his possession)? Here are some other cool facts about a bill that has two more zeroes than the bills in my wallet.
Wuss’up This Week: I usually report what’s happening currently and how it can impact rates, but it’s time to look at the big picture as well. Many economists think rates will bump up in September as the job market picks up steam. That, along with the Fed most likely announcing their tapering of purchasing mortgage bonds in early 2022 is not a good recipe for rates staying as low as they are now. On the fence about buying a home or refinancing your current home? Don’t think too long… As far as this week we’ve got Housing Starts Report released today as well as a 20-year Bond Auction (*these make great Christmas gifts!) – if these do better than expected you’ll see rates bounce up, and vice-versa if the numbers disappoint.
Interest Rate Update: Today we’ve got conforming 30-year fixed rates (*that’s for any loan at $548k or less) in the high-2s/low-3s,15 yr. fixed in the low-to-mid 2s, and jumbo 30 yr. fixed (*$548k or more) around 3.0%. Also, don’t forget about conforming and jumbo ARMs which are also in the low-to-mid 2s – this is a fantastic product to get if you don’t plan on owning your home long term. As usual, rates will vary based on if it’s a purchase or refinance, your credit score, type of home, equity in the home, or if it’s a skinny home in Boston.
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 love creative homemade food that can use this gift.
Minute Quote of the Day 2: “It took Bruce Willis 130 minutes to realize he was a ghost, and you expect men to notice a haircut??” – @riotGrlErin
Timeout for Trivia: Congrats to those who guessed Miley Cyrus last week. Want to be entered to win a Shave and Play Barbie Doll? Simply email me the answer to this week’s Who Am I? question. Good luck: “Happy birthday to me! Happy birthday to me! Yeah, I like singing. An anagram for my name is ‘My Band Rages’ but maybe rage is the wrong word – my three albums are filled with comedy rap songs. You don’t have to buy one of my albums to hear me sing – I won a Creative Arts Emmy for Outstanding Original Music & Lyrics for my duet with a former boy band member on SNL that aired in 2009. I’m not a one-hit-wonder though, I’ve lent my voice to a bunch of kid movies (hint: where would Dracula stay on vacation?), and I’ve got a TV show about being a detective that premiered in 2013 and still running strong.”
