A Rush of Adrenaline
Excitement Quote of the Day:“Money was never a big motivation for me, except as a way to keep score. The real excitement is playing the game.” – Donald Trump
Interest rates have finally settled down. Somewhat. Over the last six weeks they exploded up from 3.25% to almost 5.0% before settling in the mid-4s. I think the market is comfortable with this number for now. The rise in interest rates was expected, but many thought it would be a slow climb over a period of months. The biggest impact on rates moving forward will be inflation – if it starts to climb, rates will climb with it.
Did’ja know…? Speaking of inflation, from 1940-1946 the average income in America doubled, which was probably a good thing because years later – between 1968-1978 – the cost of a new car doubled.
Today’s rates find 30-yr fixed at around 4.50% with ARM rates about a point lower. It’s interesting to note that lately jumbo rates (those are rates for any loan over $417k) have fluctuated between 4.50% and 5.50% depending on the bank and how aggressive they want to be.
Don’t forget to let everyone in your world know that for any purchase or refinance loan over $240k I will waive all lender fees – this is a $1,295 savings, Mortgage Fans! Please forward this email to anyone you think may benefit from this.
Excitement Quote of the Day 2: “One hard thing to explain to people under 20 is how legitimately exciting it used to be when someone would wheel in an overhead projector.” – Julius Sharpe (@juliussharpe)
Timeout for Trivia: Congrats to those who last week guessed Helen Hunt. Want to be entered into a drawing to win a Frosted Flakes poster? Simply email me the answer to this week’s “Who Am I?” question. Good luck: “In two days I turn 49. Is it hot in here or does that refer to the title of my movie in theaters now? And a better question might be – why am I still acting? According to the Guinness Book I am the highest paid actress in Hollywood. With all that money you’ll never see me take public transportation (that’s a nod to my 1994 movie in which I costarred with an actor who traveled by phone booth in his 1991 movie).”