Hey Mortgage Fans!
Travel Quote of the Day: “Travel is the only thing you buy that makes you richer.” – Anonymous
Today in Economic History: It was on this date in 1824 when the Supreme Court decided to overrule New York’s authorization of a steamboat monopoly, protecting the federal government’s power to regular interstate trade. Pretty boring, right? Okay, I’ll make it up to you with a People versus Nature video
Possible Game Show Answer: There are only two escalators in the entire state of Wyoming. Wuss’up This Week: Before I tell you what’s happening this week, let’s all take a collective moment to complain about last week’s inflation reports. They not only came in higher than expected, but they also sent rates skyrocketing in a knee-jerk reaction. They say after a bad week like that, things should settle back down (*by “they” I mean “me”) – let’s hope so, Mortgage Fans. On tap this week will be a few Fed Presidents speaking (Kashkari from Minneapolis and Logan from Dallas) as well as Construction Spending, Jobless Claims, and on Friday, Fed Gov. Michelle Bowman will speak. If any of these speakers talk about more doom and gloom, you’ll see rates go up, and vice-versa if they make it sound like the Fed doesn’t have to go crazy with big interest rate bumps this year.
Interest Rate Update: This week, we find a conforming 30yr fixed (*that’s for any loan at $726k or less) in the high-6s/ low-7s and jumbo 30yr fixed (*over $726k) anywhere from the high-6s all the way to the mid-7s. As usual, rates will vary based on the type of home, equity in the home, your credit score, and if you like these 11 Jimmy Carter facts.
Don’t Forget to Remember: For any purchase or refinance loan that closes with me, I will waive $450 in fees. Grab yourself a cup of instant karma and pass my info along to any friends, family, coworkers, or people that like trash that can use this gift!
Travel Quote of the Day 2: “traveling with a four-year-old boy is like transferring a serial killer between prisons.” – Jim Gaffigan
Timeout for Trivia: Congrats to those who guessed Drew Barrymore last week.
Want to be entered into a drawing to win Therapy Dough? Simply email me the answer to this week’s Who Am I? question.
Good luck: “Tomorrow is my birthday, and I’d like to sing Happy Birthday with a group of people and no instruments. Yeah, that’s a clue to my string of movies (2012-2017) I made, although if it were made today – with all the political correctness going on – I don’t know if my nickname in those movies would’ve stayed. Prior to those movies, I made my movie debut in a Judd Apatow flick (think frozen peas). An anagram for my name is Elbow Liners, and speaking of my name, you may think I starred in a movie with James Dean.”
