Coke, Complaints, and Rising Rates
Complaining Quote of the Day: “If you have time to whine and complain about something then you have the time to do something about it.” – Anthony J. D’Angelo
This Week in Economic History: It was on April 23rd, 1985 that the Coca-Cola Company announced it was changing the formula for Coke and would rename their drink New Coke. That great big marketing campaign that took years in the making didn’t last long. The New Coke was such a flop that three months later Coke returned to its original recipe. Wanna steal that secret Coke recipe? Ehh, probably not the best idea.
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 nothing coming out, so technically my first sentence was a lie. Tomorrow though we’ve got Weekly Jobless Claims (235k expected), and on Friday two biggies – Q1 Preliminary GDP ( this is the aggregate measure of US economic production), and the Q1 Employment Cost Index (this is a measure of wage inflation). Inflation – or fear of it – is one of the reasons rates have been going up. Speaking of rates…
…Interest rates are all over the place. A 30yr fixed will range anywhere from 4.375-5.0%*, with adjustable rate mortgages a little lower. As usual, rates will vary based on type of home, equity in the home, your credit score, and if you’re the only person left on this planet still getting a Civil War pension.
Don’t Forget to Remember: Any purchase or refinance loan between now and July 31st will get a $500 closing cost credit from me. Grab yourself a cup of instant karma and pass my info along to any friends, family, coworkers, or co-slackers because there is nothing better than a random act of kindness.
Complaining Quote of the Day 2: “The next time somebody complains about millennials, maybe remind them which generation linoleumed over all those beautiful hardwood floors.” – @BoobsRadley
Timeout for Trivia: Congrats to those who guessed Roseanne Barr. Want to be entered into a drawing to win a Bowing Medieval Knight Pen Holder? Simply email me the answer to this week’s Who Am I? question. Good luck: “It’s my birthday today which I guess means it’s also a famous bartender’s birthday and a bunch of other people too – that’s okay, every dog has it’s day (that’s a reference to my role in Mad About You). So you’ve seen me on sitcoms and not seen me on sitcoms, and you’ve seen me in Smash Mouth’s music video All-Star – but I don’t consider myself a star or leading man – maybe just a bunch of leading men in a small town.”
*Interest rates are subject to change and are not a guaranteed rate.