Another Turn Around The Sun
Year Quote of the Day:“In the end, it’s not the years in your life that count. It’s the life in your years.” – Abraham Lincoln
Thought this was a great Lincoln bit by Louis CK on SNL.
What goes down must go… So, last week was not the best way to start the New Year with rates going up over 0.25%. First, the news on the fiscal cliff “agreement” started the rates rising (I want you to picture Chris Farley doing his Bennett Brauer bit when reading that last phrase because really, the whole “agreement” was just “smoke and mirrors” by our “friends” in “Congress”), which was followed by the Fed minutes that addressed the divide on when they should stop buying bonds (this helps keep rates down). Just talk of it was enough to spook everyone.
Still…rates are beautiful and should stay beautiful for at least six months? Only the Rate Gods know how long they will last but for now the 30-year fixed remains in the low 3s with ARM rates about a point lower. I don’t expect them to move much this week as it’s a quiet few days for economic news. Today and tomorrow the government will auction off 10-year and 30-year bonds – a strong demand for these will lead to lower rates.
In honor of the 50th anniversary of the cassette tape here is a cool app for you.
Want to be a hero this year? Let your coworkers, family, friends, and fake Facebook friends know that for any purchase or refinance loan over $240k I will waive all lender fees – a $1,295 savings!
Year Quote of the Day 2: “So are we all just going to pretend that we didn’t spend 2001 yelling, ‘Whassup?’ at each other?” – Jen Brewer (@shockmonster)
Timeout for Trivia: Congrats to those who guessed Katie Holmes on my last, pre-holidays blog. Want to be entered into a drawing to win an unopened box of Twinkies? Simply email me the answer to this week’s “Who Am I?” question. Good luck: It was on this day in 1987 that I was inducted into the Rock and Roll Hall of Fame, which, in my opinion, got me the respect I finally deserved. I’m a big fan of Otis Redding, who wrote my biggest single (although I did ad-lib the spelling part). Sometimes I get credit for writing and singing Springsteen’s 1984 hit “Pink Cadillac” because I reference it in my song about driving that Clarence Clemons played on.”