Pillow Quote of the Day: “There is no pillow as soft as a clear conscience.” – John Wooden
This Week in Economic History: It was on July 11th, 1985 Coca-Cola unveiled plans to put Coca-Cola Classic on the market. Earlier in the year, the company decided to change recipes for its flagship beverage after a series of positive tests conducted for the new recipe. The tests did not effectively gauge how the public would accept the New Coke, and after harsh reviews and declining sales, they brought the old Coke back and called it ‘Classic’ while renaming the new Coke, get ready for this…. Coke. Lesson learned: don’t create competition within the same company. (*BTW – as a kid, I was floored that the same public backlash didn’t happen when Sesame Street brought on Elmo as a new Muppet who basically hogged all of the attention away from Grover. When Elmo started appearing in every four sketches to Grover’s one is when I officially stopped watching. Yes, I was 14 at the time but I just thought Grover deserved better). Anyway, here are some fun Coca-Cola facts for ya.
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. Today we’ve got Consumer Credit, tomorrow Jobless Claims, and on Friday the PPI (Producer Price Index). If these reports come out good for the economy you can expect rates to tweak up, and vice-versa if the numbers disappoint.
By the end of the year, it’s possible 30yr fixed rates will hit my high school GPA! Yes, we’re talking low-to-mid 2s. As for now a conforming 30yr fixed-rate (*that’s for any loan at $510k or less) can be found anywhere from the high-2s to the mid-3s. 15yr conforming fixed in the mid-2s. Jumbo rates (*that’s any loan over $510k) can be found anywhere from low-3s to the high-3s. Banks are giving better rates on purchases than refinances so to be sure – if you’re looking for a quote – to reach out to me anytime. And as usual, rates will vary based on the type of home, equity in the home, your credit score, and if you live in the most stressed-out state (or least stressed).
Don’t Forget to Remember: Any purchase or refinance loan that closes with me I will give a $575 closing cost credit (and more for essential workers). Grab yourself a cup of instant karma and pass this info along to any friends, family, coworkers, or underrated 1990s movies fans that can use this gift!.
Pillow Quote of the Day 2: “Proof that we don’t understand death is that we give dead people a pillow.” – Jerry Seinfeld
Timeout for Trivia: Congrats to those who last week guessed Ed Sheeran. Want to be entered into a drawing to win a Keyboard Shaped Waffle Maker? Simply email me the answer to this week’s Who Am I? question. Good luck: “Who wants to dance with me on my birthday? Better question: Who else in this world has a last name like mine that makes so many people happy? You still don’t know who I am? You probably know a lot of people that have acted with me! There was a 1990 film I starred in (the title makes you think it’s an earthquake movie where it wasn’t safe to walk on the ground. It wasn’t safe for me in space either in my ’95 movie. Yes, you’ve seen me in a lot of movies but maybe the one released in 2000 you didn’t see me in, but you did see a Melrose Place sibling.”
