Trap Quote of the Day: “We have to learn to be our own best friends because we fall too easily into the trap of being our own worst enemies.” – Roderick Thorp (*this guy was a novelist according to Wikipedia, but more important than that – he’s got the coolest name ever. If I ever get famous my stage name was going to be Hunter Cannon, but now I’m replacing those with Roderick Thorp)
Today in Economic History: It was on this date in 1933 Nellie Taylor Ross was named head of the U.S. Mint, the first female ever to hold that position. What’s that, not impressed? How about the fact that before that she was the first (and only) female Governor of Wyoming! Her only failure in life was not marrying Roderick Thorp.
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 – today we’ve got the ADP Employment Numbers, tomorrow Jobless Claims, and the biggest report on Friday: Nonfarm Payrolls for April (last month 431k new jobs, expected this month – 400k). If the numbers come out good for the economy you’ll see rates tick up, and vice versa if the numbers disappoint.
Interest Rate Update: Writing this section last year was the equivalent of eating chocolate cake, this year it’s like eating a two-day old Dunkin donut – so let’s just get it over with: Today’s 30yr fixed conforming rate (*that’s for any loan at $647k or less) can be found around 5.79%, with ARMs just slightly lower. For jumbo (*over $647k) a 30yr fixed is in the low-to-mid 5s, with ARMs in the high-4s. As usual rates will vary based on type of home, equity in the home, your credit score, and if you wonder why we have to wear bowling shoes that can use this gift.
Barry’s Mother’s Day Special: For any purchase or refinance loan I will waive $575 in lender fees if you know a mother or was born from a mother! Please pass my info along to any friends, family, coworkers, or people that like weird history that can use this gift!
Trap Quote of the Day 2: “My mom’s house is like the one in Home Alone except all the booby traps are emotional.” – @IamEnidColeslaw
Timeout for Trivia: Congrats to those who guessed Aerosmith last week! Want to be entered into a drawing to win a Bazooka Joe T-shirt ? Simply email me the answer to this week’s Who Am I? question. Good luck: “It was on this date in 2010 I received my star on the Hollywood Walk of Fame, and they spelled my name wrong! Sounds like that could’ve been a storyline from my most popular show: I hit the big-time, invite all my family & friends to see the star and blah, blah, blah (or something like that) it’s spelled wrong. This is the part of the question when Barry gives an anagram of my name but it’s too many letters – three names, I’ve been hyphenated since birth. Speaking of this blog’s author – I see his title is Vice President of Lending, that’s something we halfway shared in common. What else can I tell you? Oh yes, I was at one point the youngest female cast member of SNL which really vaulted my TV career. And movies? Enhh… I’ve made some but it’s been considered downhill compared to my TV career.”
