Bob Seger and Jumbo Loans
Inspirational Quote of the Day
“To be yourself in a world that is constantly trying to make you something else is the greatest accomplishment.” – Ralph “where is” Waldo Emerson.
Remain low. In fact, the past few years we’ve seen them spike in the summer and dip back down in the winter (on a graph this will look very similar to the relation of mousse I use on my hair in the summer versus the winter). Will that trend continue? Only time will tell. 30yr fixed remains at 5.125% and a 5yr ARM is floating around 4.125%. And it looks like Jumbo (and loan over 417k) rates are making a comeback. We’ve seen them as low as 6.0% in the last few weeks.
Bob Seger’s Night Moves 1976-2009
After 33 years I have finally grown tired of this song; I switched stations when it came on this morning and it kind of made me sad to break up with him after more than three decades. I guess this just goes to show that all good things must come to and end. Same goes for The Fed and his purchases of mortgage bonds. He is nearing the end of his shopping spree – which has helped keep rates low. To date, the Fed has purchased $800 billion of mortgage bonds with the goal to finish his shopping by the end of the year (and spend a total of $1.25 trillion). This won’t even be a good thing coming to an end – it will be a great thing coming to an end. Not sure how high rates will go after he runs out of money, but let’s hope they stay reasonably low. (also being put on notice: Devil Went Down to Georgia and Little Red Corvette).
Inspirational Quote of the Day 2
” [out of breath] We’re… We’re going streaking! We’re going up the quad and to the gymnasium.” – Frank (Will Ferrell) Old School, 2003.
Time out for Trivia
Congrats to all of you who correctly guessed Macaulay Culkin from last week’s trivia question. Want to be a winner of a Starbucks $5.00 gift card this week? Simply be one of the first ten people to correctly guess the answer in this week’s Who Am I question. Good luck. “It was on this date in 1989 that I married one of the world’s top super models! It definitely wasn’t my looks that got her – because people think I’m a bit odd looking. So I guess I’d have to credit my personality and the fact that I am a rock star. In 1978 our band released our self-titled album where 6 of the 9 tracks became Top 40 hits. Other big albums were Candy-O (1979) and Heartbreak City (1984). In fact, I met my future super model wife while filming a video for a single (Drive) released from Heartbreak City.
The $ symbol was derived from a handwritten ‘ps’, an abbreviation for ‘peso’ in old Spanish-American books, and first appeared in print in the early 1800s. What’s that? You want to know more? Okay, here’s one more fact for ya: the name ‘dollar’ derives from the Dutch word ‘daler’ – originally called ‘Joachimstaler’, referring to a coin from the silver mines of Joachimstal, in Bohemia. Here’s hoping the rest of your year is filled with mucho joachimstalers!