Egg nog, vacations, and gold – oh my!
Holiday Quote of the Week: “Eggnog, who thought that one up? ‘I want to get a little drunk but I also want some pancakes.’” – Dave Attell (comedian)
Did’ja Know: Even though gold is worth its all-time high I still don’t think it’s too late to hop on the bandwagon. Inflation fears and the US dollar losing value keep the gold rising and make it a great investment. But did you know that in 1933 FDR enacted the Gold Confiscation Act in response to the national banking crisis… Say what?? Yep, I’m not making that up. So if you do invest in gold make sure to hide it in a good place just in case history repeats itself. (my grandfather hides his in his teeth).
I’ll Still Be Working but Barry’s Blog is taking a vacation. I’ll be back on January 5th with more market updates, interesting facts, etc. In the meantime, feel free to call me anytime for mortgage questions, rate updates and trivia questions (773.413.6242).
Wait, What Just Happened? Rates have climbed over the past three weeks almost a full point. People have been asking me why and I don’t have a great explanation (flashbacks to Miss Lopez asking me why I couldn’t pay attention in her class). My best guess is that it’s a combination of increased inflation fears tied with the Fed’s quantitative easing and stronger than expected data on the weekly economic reports. Rates are near or above 5% for 30yr fixed and about a point lower on ARMs. Where rates will go from here is anyone’s guess. My guess, you ask? Absolutely no clue (which I believe was my answer to Miss Lopez).
Holiday Quote of the Week 2: “A severed foot is the ultimate stocking stuffer.” – Mitch Hedberg (comedian)
Timeout for Trivia: Congrats to those who correctly guessed Kim Bassinger as the answer to the 12.8 trivia. Want to be entered into a drawing to win a mystery gift valued at over $4.00? Simply email me the answer to this week’s Who Am I? question. Good luck: “It was on this date in 1984 that my song hit # 1 on the Billboard Hot 100 and stayed there for six weeks. It attracted the attention of family organizations who complained that the song and video promoted premarital sex, and maybe that led to Rosie nicknaming me “all the way”. Well… yeah, I’ve had my share but I’m not going to hop into bed with every guy that wants me. I dissed Warren Beatty – not in my first movie with him – but in my other film when he came backstage to see me. I’ve actually made a lot of movies, most of them bad ones – which includes one that if it were remade today would involve the CraigsList classifieds and not the personal section of a NY newspaper.”