Continuing Education, Hangovers, and 8th Grade Teachers
Back to School:
Wish I could say I am fired up for the first blog posting of 2010, but it’s going to be a tough year for the kid. New regulations for mortgage brokers require 40 hours of continuing education and a final test before the end of the year. I’m debating whether to move into my old dorm or join a fraternity. Here’s the crazy part: if I worked at a bank, I would not have to do any of this, but that is the number one reason why it’s better to work with a mortgage broker as opposed to going directly to a bank! A bank can hire anyone off the street and not have to check his/her background, or have them do any testing for regulations that are constantly changing.
Informational Quote of the Day:
“Information is the seed for an idea, and only grows when it’s watered.” (source unknown).
Interest Rate Update:
Miss Peters, my 8th grade French teacher, once told my parents that I look absolutely lost and lacked direction. That’s how I feel when people ask me about rates lately. We have no idea when they will go up, if they will come back down, or how high they will go this year. The Fed still has a little money left (roughly 250 billion) that he will continue to use to buy bonds to keep rates artificially low. My guess is that rates, which have started to creep up, will probably go up a full point by April. If you haven’t already, be sure to call me about a refinance or new home purchase while rates are still fantastic. It will be sad to kiss the low rates goodbye, but as they say: c’est la vie. (take that, Miss Peters!)
Informational Quote of the Day 2:
“Remember, what happens in Vegas stays in Vegas. Except for herpes. That will come back with you.” – Sid Garner (Jeffrey Tambor), The Hangover (2009).
Timeout for Trivia:
Email me the correct answer to this week’s Who Am I? question and be entered into a quarterly drawing to win something really cool. Good luck: “Tomorrow I turn 46. I’ve appeared in over 60 films, but I’m not a very lucky guy. I lost out on the roles for Spicoli (Fast Times at Ridgemont High to Sean Penn), Dallas Winston (The Outsiders to Matt Dillon), and Randy (The Wrestler to Mickey Rourke). However, I have hit it big as a guy looking for treasure that was hidden by the founding fathers of the United States. Lord knows I could use that money in real life!”