Falling ARM’s!

BarrysBlog_FB3-Second Rule
As a germ freak, I’d like to announce that I’m not a believer in the 5 second rule. Once the food hits the ground the party is over. I’ve got plenty more fun tidbits and facts for you today, so read on, my friends…

Rates
Hard to believe but the ARM rates are still low – in the mid-4s. The 30-yr fixed remains in the low 5s. Rates can sway either direction based on what type of home you own (condo, single family, etc), credit scores, equity in the home, and recent celebrity deaths.

Inspirational Quote
And in the end, it’s not the years in your life that count. It’s the life in your years. – Abraham Lincoln

This day in Prime Rate History
July 8th, 1981 the Prime rate was raised to 20.50%. Today it’s at 3.25%. Let’s all remember not to complain when the Fed starts raising this next year.

Did’ja know 1
There isn’t a website that shows if rates are up or down, but you can take educated guesses by following the 10-year treasury. Historically, mortgage interest rates move in step with the yield of the 10-year treasury. If the yield on the 10-year treasury goes up, the price of the treasury goes down – therefore the yield goes down and rates (and my blood pressure) go up. Confused? Me too, but here’s a good website to look at: http://finance.yahoo.com. If the 10yr bond (on the left hand side) is in red, that is good for rates. If it’s green, it’s not good for rates.

Trivia
Congratulations to those of you who correctly guessed Pamela Anderson for last week’s trivia answer. Want to win a $5.00 Starbucks gift card this week? Simply be one of the first 10 to email me the answer to this week’s Who am I? question: I turn 51 today. At 17 I left my Philadelphia home to pursue an acting career in New York , and three years later starred in the hit comedy Animal House. I was offered a role in the sitcom of the same name but turned it down because I did not want to live in Los Angeles . I’ve never lived in LA which is crazy since I’ve done over 60 movies to date (which is probably why my name gets linked to a lot of actors). Also, there is no truth to the rumor that I am starring in a remake with Zac Efron about a kid that defies authority so he can dance.

Did’ja Know 2
No animals were harmed in the making of this blog.

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