Charles “Chucky” Dow and his Market Report
“There can be no keener revelation of a society’s soul than the way in which it treats its children.” – Nelson Mandela.
Don’t forget that Perl is part of a program called TaxSmart! That is offered by the city of Chicago that gives borrowers a federal income tax credit equal to 20% of the interest they pay on their mortgage each year. There are income restrictions, etc. We’ll talk more about it in future meetings, but anyone wanting info on it can call or email me.
The Dow is named after Charles “Chucky” Dow who started it back in 1896 using 9 railroads and two industrial companies. Today’s Dow is basically the average value of 30 large companies like McDonalds, IBM, Home Depot, etc – and combined they are used to measure what’s happening in the economy. Charles Dow (along with Edward Jones) created the Wall Street Journal too! Without Mr. Dow this blog would be three sentences less today.
Motivational Quote 2
“When it comes down to making out, whenever possible, put on side 1 of Led Zeppelin IV.” – Mike Damone, Fast Times at Ridgemont High, 1982.
A better than expected unemployment report came out last week that pushed rates higher, but they still remain at historic lows. A 30 year fixed rate remains in the low 5s. A 5 year ARM is in the low to mid 4s. As always, rates can vary based on credit scores, amount of down payment/equity, type of property, and high school GPAs.
Congratulations to all of you who guessed Maureen “Marcia, Marcia, Marcia” McCormick. Want to win a $5.00 Starbucks gift card? Be one of the first ten to answer this week’s Who Am I question: “It was this date in 1984 that my movie-themed song hit number one on the charts and stayed there for three weeks. Dr. Venkman liked the song but Huey Lewis did not. He sued me for plagiarizing the melody from his hit ‘I Want a New Drug.” The 1984 hit was the highlight of my career – you can’t change that – but I did have other hits and I also penned songs for Aretha, Stevie Wonder, Chaka Khan, The Spinners, and a whole lot of other people.