Opinion Quote of the Day: “I never make the mistake of arguing with people for whose opinions I have no respect.” – Edward Gibbon (English historian, 1737-1794)
Greece is the Word: In 6th grade there were signs that my girlfriend Rhonda was going to leave me (signs like her making out with my friend Jordan). In a last-ditch effort to save the relationship I threatened her by saying that if she left I would never take her back. Greece is pulling a Rhonda right now, as there are increased concerns that it is going to leave the Euro and go to its own currency. Foolish? Perhaps. Do we care? Well, people looking to refinance will care because it could, in theory, drive rates down. We’ve seen an increase in the appetite for bonds by foreign investors hedging their bets that Greece will leave. And just what does this do for rates?
Interest Rate Update: They are still beautifully low, Mortgage Fans. While 30-yr fixed rates remain in the high 3s/low 4s (ARM rates about a point lower) the rates have come down a lot on the 15-yr fixed (3-ish) and 20-yr fixed (around 3.50%). All rates can fluctuate depending on credit score, type of home, and equity in the home.
Opinion Quote of the Day 2: “I find a duck’s opinion of me is very much influenced by whether or not I have bread.” – Mitch Hedberg (comedian)
Timeout for Trivia: Congrats to those who guessed Billy Joel as last week’s answer. Want to be entered into a drawing to win University of Kansas deck of cards? Simply email me the answer to this week’s “Who Am I?” question. Good luck: “I turn 26 today. In a GQ Magazine article I said I am bisexual because I fell in love with a stripper. That article was taken out of context (although there’s this girl Jennifer I know who has the hottest body!). Despite what Spielberg says I am not a racist. I am a good girl; I try to save the world (ask Shia) and save the environment by going green (ask my husband).”
Thinking Quote of the Day: “At the age of 20 we don’t care what the world thinks of us; at 30, we worry about what it is thinking of us; at 40, we discover that it wasn’t thinking of us at all.” – Author Unknown
Interest Rate Update: A reminder to let you guys know that rates on 10-yr and 15-yr fixed are really low (high 2s/ low 3s)… and if they drop to zero percent I’ve started to wonder if I would still have a job. 30-yr fixed remains a gift in the high 3s/low 4s with ARM rates about a point lower. Don’t forget to tell your friends and coworkers about my blue-light special: For any loan over $240k (purchase or refinance) I will waive all fees – this is a $1,295 savings!
Wuss’Up This Week: Oil prices have fallen following signs of the slowing US economic growth, reports that US inventory supplies are high, and weakness in China’s demand. What does this mean? For one, falling energy prices are good for mortgage interest rates. Secondly…well, that’s all we really care about in this blog. However, rates won’t stay low forever and reports due out this week can sway rates in either direction. Thursday’s Jobless Claims report and 30-yr Treasury Bond Auction are two of the biggies. Hey, speaking of bond auctions just a reminder that you’ve got 15 shopping days left until my birthday and bonds are the top of my list. Just sayin’.
Thinking Quote of the Day 2: “I think I am, therefore, I am. I think.” – George Carlin
Timeout for Trivia: Congrats to those of you who guessed George Clooney as last week’s answer. Want to be entered into a drawing to win a box of Ortega taco shells (ten pack)? Simply email me the answer to this week’s “Who Am I?” question. Good luck: “Today I turn 63. I’ve written and performed top 40 hits in the 70s, 80s, and 90s. Tom Hanks is a big fan of mine (at least you’d think so if you saw his sitcom) and so is my ex-wife, who in my 1985 video appeared as the redheaded girl in a Chevrolet. If you listen to my song from 1989 you’d think we were being blamed for arson.”
Heaven Quote of the Day: “Go to heaven for the climate, hell for the company.” – Mark Twain
Don’t forget about my Dos de Mayo Special today: For any loan over $240k I will waive all lender fees! This is a $1,295 savings and is can be used on any purchase or refinance deal. Why would you want to buy or refinance a home now…?
…Because rates are so low! A 30-yr fixed remains in the high 3s/low 4s with ARM rates about a point lower. Don’t forget that rates can change daily and are always based on type of home, equity in the home, credit scores, and if you think “Hip to be Square” was the worst song of the 80s.
Wuss’Up This Week: The first week of any given month is always crucial to how rates fluctuate, as three reports are released regarding the employment status of our nation (today’s ADP Employment, Thursday’s Weekly Jobless Claims, and Friday’s Employment report for April). If you are thinking of floating a rate or locking it in my advice would be to lock! Rates, like my high school report cards, have nowhere to go but up.
Heaven Quote of the Day 2: “When you die, if you get a choice of going to regular heaven or pie heaven, choose pie heaven. It might be a trick, but if not, mmmmm, boy.” – Deep Thoughts by Jack Handey (SNL)
Timeout for Trivia: Congrats to those of you who correctly guessed Renee Zellweger as last week’s answer. Want to be entered into a drawing to win a Police Academy 4 poster? Simply email me the answer to this week’s “Who Am I?” question. Good luck: “Hey, Mr. Handsome here to let you know that on Sunday I turn 51. You might have seen me playing a handyman on The Facts of Life or as Roseanne Barr’s supervisor on Roseanne, but what put me on the map was starring in a TV drama with Goose (from ’94-’99). Still don’t know who I am? Think about it. And until then, good night and good luck.”
Emotion Quote of the Day: “They may forget what you said, but they will never forget how you made them feel.” – Carl W. Buechner (author)
Wuss’Up This Week: A whole lotta stuff coming out that can impact interest rates. Most important this week will be today’s Durable Goods Orders (this is a report of demand for big items that last more than 3 years – i.e. cars, refrigerators, the jug of ketchup I just bought at Costco, etc.) which is expected to be up 2.4%. If this comes in lower rates may go down. Also today, we have the ‘Fed Meeting Adjourns’ in which few people expect the Fed to change rates…but what Fed Chief Ben Bernanke says after the meeting will be analyzed to death and can impact rates.
Interest Rate Update: Rates for a 30-yr fixed remain in the high 3s/low 4s with ARM rates about a point lower. Don’t forget that rates vary based on credit score, type of home, equity in the home, and if you watch any reality show about housewives in a different city. Also, don’t forget that for any loan over $240k I will waive all lender fees (this can be for a purchase or refinance) – a $1,200 savings! Please be sure to let your friends, family, coworkers, Sox AND Cubs fans know this.
Emotion Quote of the Day 2: “Women complain men don’t have any emotions. We have the same emotions as you, we just don’t go through every one of them every single day.” – Robert Duchane (comedian)
Timeout for Trivia: Congrats to those who guessed Carmen Electra as last week’s answer. Want to be entered into a drawing to win a bag of fortune cookies? Simply email me the answer to this week’s “Who Am I?” question. Good luck: “Today I turn 43. What could you read in my diary that would interest you? Maybe the fact that I starred in a Texas Chainsaw Massacre film with Matthew McConaughey, or how I had a small role in Reality Bites. Or maybe it’s my love life: I like to date singers (see Kenny Chesney or White Stripes’ frontman Jack White, who had me with his song “Hello Operator”).”
Drug Quote of the Day: “I don’t need drugs to make my life tragic.” – Eddie Vedder (Pearl Jam vocalist/songwriter)
Didja Know…? The largest bill ever printed was the $100,000 bill back in 1934. Woodrow Wilson was depicted on the bill and these notes were not circulated among the general public. Instead, they were used for transactions between Federal Reserve banks. It was rumored that the Fed Chief at the time would make his coworkers pay the lunch delivery guy saying that, “All I have in my wallet is the $100,000 bill that he won’t be able to make change for.”
Interest Rate Update: Come and get ‘em while they’re hot! I’ve still got 30-yr fixed rates in the high 3s/low 4s with ARM rates about a point lower. For any purchase or refinance loan over $240k I will pay for all lender fees (a $1,295 savings!). And don’t forget that rates vary based on type of home, equity in the home, credit score, and how my haircut goes today.
Drug Quote of the Day 2: “The term ‘sex addict’ makes it sound like sex is a drug. And I guess after 23 years of marriage, in my house it is called a controlled substance.” – Bobby Slayton (comedian)
Timeout for Trivia: Congrats to those who correctly guessed Shannon Doherty as last week’s answer. Want to be entered into a drawing to win a jar of Vicks vapo-rub? Simply email me the correct answer to this week’s “Who Am I?” question. Good luck: “In two days I turn 40. In the late 90s I married a guy with rainbow hair but predictably that didn’t last. After that I made a few appearances in Playboy Magazine and starred in Baywatch. Nope, I’m not Pam Anderson. I’m just a girl you would single out as once being a fan of Jane’s Addiction.”
PERL Mortgage is an Illinois residential mortgage licensee (MB0004358) and equal housing lender.
