I have the weakest bladder in the mortgage industry. That’s just a known fact. My wife hates road trips with me because we have to pull over so many times on the way to our destination. And some nights I wake up her up screaming from a recurring nightmare I have where I’m a toll booth collector and I’m panicked because there’s no bathroom in the booth. So yeah, I want a new bladder. I also want the Bears to win the Super Bowl again in my lifetime, I want to win the lottery, I want another batch of my sister’s homemade brownies, I want to retire before I’m old (*my financial advisor told me recently I’m on pace to retire by the age of 108), I want to be on a beach with a drink with a mini-umbrella in it, and I want interest rates to come back down. I have a lot of wants! What are yours?
Want Quote of the Day: “You will never stop wanting more until you allow yourself to have what you already have. To take it in. Savor it. Now is a good time to do that…”_ – Geneen Roth
This Week in Economic History: It was on June 2nd, 1912 when Universal Studios was started. It was the first major studio in Hollywood, raking in billions of dollars and producing blockbusters like Jaws and Jurassic Park. (*Before you go crowning Universal the greatest movie studio of all-time, it should be noted they also produced Paul Blart: Mall Cop 2)
Wuss’up This Week: Everyday 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 (*work, not Steve). Today we’ve got the ADP Jobs Report, tomorrow Jobless Claims, and then two biggies on Friday: The Non-Farm Payroll Report for May (*expected: 325k) and the Unemployment Report (*expected 3.5%, previously 3.6%). If the numbers come back good for the economy you’ll see rates bounce up, and vice-versa if the numbers disappoint.
Interest Rate Update: Today we find the 30yr fixed give or take in the mid-5s (*that’s for any loan at $647k or less), and jumbo fixed rates (*over $647k) anywhere from the mid-4s to the low-5s. Jumbo & conforming ARMs are still a good product as they are anywhere from .25-.50 less than the fixed rates. As usual rates will vary based on type of home, equity in the home, your credit score, and if you like interesting facts.
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 like one-in-a-million stories that can use this gift.
Want Quote of the Day 2: “It’s not that I don’t want kids, it’s just that I don’t want a minivan.” – @capricecrane
Timeout For Trivia: Congrats on those who last week guessed Will Smith. Want to be entered into a drawing to win a Scooby Doo Coffee Mug? Simply email me the answer to this week’s Who Am I? question. Good luck: “I was in a movie that came out on this date in 2007 – a bit part but knock on wood those will keep coming (did I just give away almost half the title of that movie?). A few months later I had another bit part in a movie that was really bad (did I just give away half the title again??). An anagram for my name is ‘Rabid Hell’ but truth be told my acting career is far from rabid or hell, and hey – I’m not just about movies – like a lot of comedy actors I got my break on TV – I was on SNL from 2005-2013 and received an Emmy for a Supporting Actor in a Comedy Series – the first for a male SNL actor since Eddie Murphy. I won an Emmy for Outstanding Lead Actor in another series whose title is liked by this blog’s author.”
