All Walks of Life
Walking Quote of the Day: “Sometimes…when you hold out for everything, you walk away with nothing.” – Ally McBeal (Calista Flockhart), 1998.
Didja Know…? The word “mortgage” means “death contract.” The word was originally taken from Old Norman and Anglo-Norman languages (and later influenced by Parisian French) to mean the contract “dies” when the obligation is fulfilled or the property is taken through foreclosure (which means my 30-year fixed must translate to a slow and painful death).
And for the record I have no idea what “Old Norman and Anglo-Norman languages” is even referring to. The only Old Norman I know is my uncle in Florida.
I was only 14 when Larry Hagman took over the TV world. Rest in Peace to the man who made me believe genies were real.
This week’s economic reports make up for last week’s lack of reports. Over the next three days we have a 5-yr and 7-yr Treasury Note Auction (strong demand will lead to lower rates), the Fed Beige Book Report (signs of weakness leads to lower rates), Weekly Jobless Claims (expected number: 408k), and PCE Core Inflation (expected up 0.1%). This one is a biggie as it measures price increases for all domestic personal consumption. Anything bigger than 0.1% will hurt rates.
Interest Rate Update: Still beautiful, Mortgage Fans. A 30-yr fixed remains in the low-to-mid 3s with ARM rates about a point lower. What’s a gift you can get your loved ones this holiday season? Just let them know that for any purchase or refinance loan over $240k I will waive all lender fees – a $1,295 savings!
Walking Quote of the Day 2: “Crabs always look like they’re walking themselves out of an awkward situation.” – @GreenishDuck
Timeout for Trivia: Congrats to those who guessed Goldie Hawn last week. Want to be entered into a drawing to win a container of Shea Butter Foot Cream? Simply email me the answer to this week’s “Who Am I?” question. Good luck: “Tomorrow I turn 57. In July of 1984 I starred with Phoebe Cates (well, not me – a furry version of me) in a kids movie that frightened a lot of kids. In 2009 I got my star on Canada’s Walk of Fame (my peers Monty Hall and Alex Trebek in beat me to it in 2002 and 2006, respectively). Before my current gig I did another show with a bunch of models…which I thought would make my wife jealous, but she knows I won’t touch any of them.”