Cheese, Hockey, Rates Climbing
Cheese Quote of the Day: “Fettuccini alfredo is macaroni and cheese for adults.” – Mitch Hedberg
This Week in Economic History: It was on April 22nd, 1889 that cannons sounded at exactly 12:00 noon. This was the signal to let thousands of settlers rush into what is now Oklahoma to claim cheap land previously set aside as Indian territory. (*probably a very similar scene to how Walmart looks on Black Friday).
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. Today we’ve got the 5-Year Treasury Note Auction (these make a great birthday gift), tomorrow Weekly Jobless Claims (expected: 190k), and tomorrow the Durable Goods Orders Report (expected: up 0.2%). If these reports come in good for the economy you can expect rates to go up, and vice-versa if the numbers fall short.
Interest rates continue their slow spring climb as you’ll find a 30yr fixed jumbo rate (*any loan over $484k) in the low-4s and conforming rates (under $484k) in the low-to-mid 4s. Adjustable rate mortgages remain a sliver less and not a great loan product unless you are 99% sure you’ll be selling before the rate adjusts.
Don’t Forget to Remember my Cinco ‘all month of Mayo’ Special: (I know that makes no sense, failed Spanish, I’m sorry) Any purchase or refinance loan closing with me between now and May 31st I will eat the appraisal fee. Want a cup of instant karma? Pass this info along to any friends, family, coworkers, or anyone on the Gopher hockey team that can use this gift.
Cheese Quote of the Day 2: “If you swap the fried cheese for cheese, the beer for wine, and the cheese art for actual art, Wisconsin is just like France.” – @RexHuppke
Timeout for Trivia: Congrats to those who guessed Jennifer Garner last week. Want to be entered into a drawing to win a Dachshund Ice Cube Tray ? Simply email me the answer to this week’s Who Am I? question. Good luck: “It was on this day in 1992 I married my wife whose name sounds like it could be an Apple phone marketed to the male population. I died in 2016 and heaven isn’t that odd, y’know. Here is what’s odd: My ‘85 music video won a Grammy called ‘Best Video, Short Form’ because I guess at 21 minutes long they didn’t want to call it a film or a song. Two years earlier I reached the peak of my success with an album that contained three Top-10 songs – all of them had two word titles and one of the songs containing the lyrics I catch a paper boy/But things don’t really change/I’m standing in the wind.”