Don’t Fear The Reaper
Dead Quote of the Day: “Every time a child says ‘I don’t believe in fairies,’ there’s a little fairy somewhere that falls down dead.” – Peter Pan
Wuss’up This Week: Last week’s financial reports pushed rates up .125%. What can sway rates this week? The biggies are the 10-year Treasury Note Auction today (these make great Christmas presents), and the 30-year Treasury Bond Auction tomorrow (these make great Hanukkah gifts). A strong or weak demand for these can push rates lower/higher. Also tomorrow we have the Trade Data Report, which affects the value of the dollar. A falling deficit may strengthen the dollar, which can lead to lower rates.
Interest Rates continue to stay low with 30-year fixed in the mid-3s and ARM rates about a point lower. It’s a glorious time to buy or refinance a home, Mortgage Fans! And don’t forget to let your friends, family, coworkers, and Cubs fans (not Sox fans) know that for any loan over $240k I will waive all lender fees – this is a $1,250 savings!! (okay, I guess you can tell Sox fans too – but only Red Sox, not White Sox).
Dead Quote of the Day 2: “I’d rather be dead than singing Satisfaction when I’m 45.” – Mick Jagger (1975)
Timeout for Trivia: Congrats to those who guessed Daniel Stern last week. Want to be entered into a drawing to win a sculpture of my neighbor’s cat I made out of a box of Q-tips (estimated value while I am alive: $14; estimated value after I am dead: $14.50)? Simply email me the answer to this week’s “Who Am I?” question. Good luck: “Yesterday I turned 52. In my Showtime series I play a character with a sex addiction, and in real life I’ve admitted to having the same addiction. Girls fall for me, what can I say? In 1998 Bree Sharp even wrote a song about me. So…I do love girls, not Larry Sanders. And I get a kick out of the Mars Rover looking for life on other planets…all they had to do was ask me…”
Property values are down all over. I thought for sure Park Place and Boardwalk would cost more than a million.
Barry’s Blog is taking next week off as I will be on my favorite oxymoron: a working vacation! Feel free to continue emailing and calling me for rate quotes, mortgage questions, and love life advice.