Baseball, Rates, and Floating Homes!
Hello, Mortgage Fans! With our Cubbies underachieving I thought I’d cheer you up by throwing in some fun baseball quotes today along with the movies they came from. Here we go…
Baseball Quote of the Day: “There’s no crying in baseball!” – Tom Hanks, A League of Their Own
This Week in Economic History: It was on September 27th, 1995 The Treasury Department unveiled a new version of the $100 bill, complete with an off-center enlarged picture of Ben Franklin. Ben has been on the Note since 1914, and I’m not saying to take him off but maybe it’s time to share the wealth. Here’s a good argument for five women that should be pictured on dollar bills.
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. Busy week this week as we’ve got New Home Sales and a 5-Year Note Auction today, GDP, Jobless Claims, and Pending Home Sales tomorrow, and PCE (a report that measures inflation) and Durable Goods on Friday.
After interest rates exploded up almost two weeks ago the market is slowly bringing rates back down. ‘Slowly’ is the key word here! Today you’ll find 30-year fixed rates anywhere from 3.625% – 3.99% with adjustable rate mortgages a teeny sliver lower. As usual rates will vary based on credit score, type of home, equity in the home, and if the home is floating.
Don’t Forget to Remember: Any purchase or refinance loan that closes with me between now and Thanksgiving I will waive $500 in closing costs! Grab yourself a cup of instant karma and pass my info along to any friends, family, coworkers, or artificial intelligence revolution enthusiasts who can use this gift.
Baseball Quote of the Day 2: “Strikeouts are boring. Besides that, they’re fascist.” – Kevin Costner, Bull Durham
Timeout for Trivia: Congrats to those who last week guessed Neil Patrick Harris. Want to be entered into a drawing to win a human eyeball earring? Simply email me the answer to this week’s Who Am I? question. Good luck: “Hello all people of earth, I’m talking to you from heaven as I died on this date back in 2008. In what may be my most famous film you didn’t see me die in the end, but I most likely did. I had quite a career – nominated for 8 Oscars (all Best Actor) and winning once back in ’86 where the four word title of that movie could be renamed The Hue of Cash. When you come up to heaven I’ll have you over for dinner, but please don’t bring any dressing, pasta sauce, popcorn, or salsa – I’ve got that stuff here.”