Wuss’up Last Week: Last week the Fed announced they would try to keep rates low through 2014. “Try” being the key word (i.e. I’ve tried to quit my habit of eating Apple Jacks for dinner without much success), as there are so many factors into what moves the rates up and down. Factors like…

Wuss’up This Week: All eyes will be on the three employment reports that come out this week. The biggie will be the government’s report that is released on Friday morning which is expected to show the unemployment rate to remain at 8.5% with 125k new jobs created. Anything worse than this will rally rates to drop, and of course, anything better will make rates go up.

Interest Rate Update: Still beautiful, Mortgage Fans. A 30yr fixed is in the high 3s/ low 4s with ARMs about a point lower. Don’t forget to tell your friends, family, coworkers, and coslackers that for any loan over $240k I will waive all lender fees on purchases and refinances – this is over $1,000 savings!

Feet Quote of the Day: “Flip-flops are fun because every time you take a step it’s like a high-five to your feet.” – @CandyWarhole

Timeout for Trivia: Congrats to those who guessed Gene Hackman as last week’s answer. Want to be entered into a drawing to win Pledge furniture spray? Simply email me the answer to this week’s Who Am I? question. Good luck: “I turn 58 tomorrow. The lyrics I bet she’s never had a backstreet guy is untrue. I was married to that guy, and he was backstreet in his youth and in the video. I’ve been married 3 times, although never to Chevy Chase who might say I projected a ‘my way or the highway’ attitude with him.”

I want my MTV.

Wuss’up This Week: Last week we saw rates creep the wrong direction as inflation fears kicked in (again) and the weekly job data wasn’t as bad as expected. This week? We’ve got a ton of reports coming out that can sway rates in either direction. The biggies are today’s 5-Year Treasury Note Auction, tomorrow’s Weekly Jobless Claims, and Friday’s Q3 Advance GDP, which is a report that measures US economic production (which, if measuring my production, will come out low as I spent the morning doing the puzzle on the back of my Lucky Charms cereal box).

Interest Rate Update: While they are not at the all-time low, they are only a shade above it. The 30yr fixed remains around 4.0% with ARM rates about a point lower. Don’t forget: any refinance or purchase loans over $240k I will waive all lender fees – a $1,200 savings! Also, if I get my weight down from 176 to 172 I will waive all appraisal fees too (although as hinted above the Lucky Charms diet may have people paying for their own appraisals for the rest of the year).

Privacy Quote of the Day 2: “The Kardashian family asks that you respect Kim’s privacy during this difficult time and wait until they finish editing the divorce special.”  – Wade (@WadetoBlack)

Timeout for Trivia: Congrats to those who guessed Lisa Marie Presley as last week’s answer. Want to be entered into a drawing to win a 16oz container of Philadelphia cream cheese? Simply email me the answer to this week’s Who Am I? question. Good luck: “On Monday this Hoosier turns 82. Why didn’t NBC call me to star in The Firm, who cares if I died in it? I don’t need the work though, and as long as Grisham keeps writing books I’ll keep starring in the movie versions (like the one with Cusack).”

Happy Birthday shout out to the 4^th greatest guy in the history of this planet – my brother Billy (ranking only behind only my dad, Abraham Lincoln, and Spiderman).

Rest in Peace Hostess brand cupcakes and Twinkies.

Wuss’Up This Week: The Euro debt crisis continues to help rates improve. Last week, S&P credit-rating downgrade rumors for France helped rates, as investors continued to find homes for their money in US bonds (Side note: By ‘US bonds” I mean our financial notes, not the rhythm and blues singer Gary U.S. Bonds). Besides France, we will also most likely see downgrades to Spain, Portugal, and Italy. Meanwhile, here in the states we have two report biggies this week that can sway interest rates in either direction. Tomorrow’s Consumer Price Index (a measure of inflation) and 10-year Treasury TIPS Auction can drive rates up or down.

Interest Rate Update: The 30-yr fixed rates have been fluctuating in the high 3s/low 4s with ARM rates about a point lower. Don’t forget that rates vary based on credit score, type of home, equity in the home, and the Packers being eliminated from the playoffs – yeeehaaa! Also a reminder: for any loan over $240k I will waive all lender fees, which is a $1,295 savings. Yeeehaaa again.

Swimming Quote of the Day 2: “My mom said she learned how to swim when someone took her out in the lake and threw her off the boat. I said, ‘Mom, they weren’t trying to teach you how to swim.’” – Paula Poundstone (comedian)

Timeout for Trivia: Congrats to those who guessed Kirstie Alley as last week’s answer. Want to be entered into a drawing to win a Slinky? Simply email me the answer to this week’s “Who Am I?” question. Good luck: “It was on this date in 1996 that I filed for divorce from my singer husband. Would my father (a king) have approved of this marriage (to another king)? The marriage didn’t last too long, but it was a helluva lot longer than my 108-day marriage to a guy who once lost his fiancé in a Vegas card game.”

Wuss’Up This Week: Lots of important data being released this week, which can influence interest rates. Today we have the 10-year Treasury Note Auction, which will provide an indication of foreign appetite for US debt. My prediction, you ask? Our debt is the lesser of two evils compared to debt overseas, so hopefully there will be strong demand that will drive rates down. Tomorrow’s biggest report is Retail Sales which is expected to be up 0.2% (Note: I just bought 20 pairs of new Fruit of the Loom boxers so I predict it will be up 0.3%). For this report, an increase of more than 0.2% will likely make rates tick higher. And where are rates?

Interest Rate Update: Interest rates are still really strong, Mortgage Fans. A 30-yr fixed hovers around 4% (give or take on a good or bad day) with ARM rates about a point lower. As usual, don’t forget to tell your friends, family, and coworkers (even the annoying ones) that for any purchase or refinance loan over $240k I will waive all lender fees! This is a $1,295 savings, which would buy a TON of Fruit of the Loom stuff.

Superman Quote of the Day 2: “I’m normally not a praying man, but if you’re up there, please save me, Superman.” – Homer Simpson

Timeout for Trivia: Congrats to those who guessed Bradley Cooper as last week’s answer. Want to be entered into a drawing to win a Saved by the Bell coffee mug? Simply email me the answer to this week’s “Who Am I?” question. Good luck: “I turn 61 tomorrow. In 1989 I gave birth to Bruce Willis, and some say I never lost my pregnancy weight. Two years before that you would’ve raised your glass to me when I replaced an actress who left a successful sitcom for a (non-existent) movie career.”

Enjoy the best two minutes of your day.

Wuss’Up This Week: Three reports about employment are released this week with tomorrow’s Weekly Jobless Claims and ADP’s Employment Report, and Friday’s Employment Report. Friday’s is the most important as it can sway rates the most of the three reports. Payrolls are expected to be up by 115k and unemployment is predicted at 8.8%. In completely unrelated news I won the Nintendo Tecmo Bowl Super Bowl using the 1991 Bears on New Year’s Eve. No one in my house seems to care so I’m using this forum to brag about it.

Wuss’Up This Year: In her 1976 hit “Mahogany” Diana Ross sang, “Do you know where rates are going to?” It’s still a great question today. Nobody knows what will happen in 2012 but here is what we do know: Interest rates will remain volatile until the economy gains some stability. It is possible for rates to go down more as the Fed still wants to keep rates relatively low, but the Fed is like Oz – all-powerful in appearance and, uh, pay no attention to that man behind the curtain. He only has so much power, Mortgage Fans. 90% of the rates we see are determined by the supply and demand of mortgage-backed securities. So…I’m not going out on a limb here but I think at its lowest we’ll see 3.75% on a 30-yr fixed and maybe 5.25% on the high end.

Dates to Remember: March 15th – the day most banks will (supposedly) hop onto the HARP 2.0 bandwagon. This is a program that will let people refinance even though their homes are underwater (I’m one of them!). Be sure to contact me that week if you are interested. Also, May 24th – my birthday. You’ve got 142 shopping days left; don’t wait until the last minute.

New Year Quote of the Day 2: “Now there are more overweight people in America than average-weight people. So overweight people are now average…which means, you have met your New Year’s resolution.” – Jay Leno

Timeout for Trivia: Congrats to all who guessed Jennifer Beals as last week’s answer. Want to be entered into a drawing to win a box of strawberry-flavored Pop Rocks? Simply email me the answer to this week’s “Who Am I?” question. Good luck: “Tomorrow I turn 37. Stay away from my girl, Owen Wilson – if that’s really who you say you are! Just kidding – I’m not mean in real life like I was in that movie. In real life I like people and People likes me. But Vegas and Mike Tyson do not like me.”

Wuss’Up This Week: A busy few days of economic reports that can sway interest rates in either direction. Tomorrow we have Weekly Jobless Claims, U of Michigan Consumer Sentiment (this is a report that gives an indication of consumers’ willingness to spend; a weakness will lead to lower rates), and Leading Economic Indicators (this is an indication of future economic activity; my Visa has hit its limit so no future for me!). Tomorrow we have Durable Goods Orders (this is an indication of the demand for “big ticket” items that last more than three years, such as cars, refrigerators, and the Melrose Place Seasons 1-7 box sets).

Interest Rate Update: I just looked up my first blog of the year to see where interest rates started for 2011. On Jan 5th the 30-yr fixed was in the low 5s. Today they remain a full point lower! ARM rates are still about a point lower than the 30-yr fixed. It’s a glamorous time to be both buying and refinancing as rates have never been this low…where they will go in 2012 is anyone’s guess. Don’t forget to let your peeps know that for any purchase or refinance loan over $240k I will eat all lender fees – a $1,200 savings!

HARP – a bad instrument? It is when it comes to refinancing. There have been a lot of things written about HARP (Home Affordable Refinance Program), which is the government’s program designed to let people refinance their homes without having to pay PMI if there is less than 20% value in the home (or if the home is “underwater”). Many of those things written are false or misleading. The bottom line is this: If you are looking to refinance under this program, in 99% of cases you will have to wait until the middle of March when all of the details have been ironed out and most of the banks have hopped onto the HARP bandwagon. I will keep you posted.

Holiday Quote of the Day 2: “A severed foot is the ultimate stocking stuffer.” – Mitch Hedberg (comedian)

Timeout for Trivia: Congrats to all who correctly guessed John Malkovich as the December 7th answer. Want to be entered into a drawing to win Kathie Lee Gifford’s It’s Christmas Time album? Me neither, but it might be a good gag-gift. To be entered into the raffle simply email me the answer to this week’s “Who Am I?” question. Good luck: “I turned 48 on Monday. Born and raised in Chicago, I was asked to star in St. Elmo’s Fire but turned it down because I was going to school at Yale at the time. Maybe it was Yale that shaped my Showtime series’ character (an Ivy League-educated lesbian). I was recently asked to appear on Dancing with the Stars but I am not a dancer…or a welder…or a stripper.”

I will be working… but I’m giving the blog a vacation. See you all in 2012 with more fun-filled mortgage facts and trivia questions. Happy Holidays to all, and thank you for your business, Mortgage Fans. It is truly appreciated.

1. I cheated my way through high school Spanish. Now, I believe that it’s not a coincidence that the voices in my head speak Spanish and I can’t understand a word they are trying to tell me.

2. I believe that “I before E except after C” was invented by a really powerful person who was bad at spelling.

3. I believe that if everyone receiving this email today does a random act of kindness the earth’s karma will shift in the right direction. (*suggested random act: mail me $20 cash to the address below).

4. I believe that musicals can happen in real life.

5. I believe the Kama Sutra would be a bestseller if it was made into a pop-up book.

6. Whitney Houston sang, “I believe the children are our future,” but that is just so wrong! I believe our future is flying cars and squirrels that will communicate thoughts to us telepathically.

7. I believe that my college major of Persuasive Speaking gave me the ability to convince my wife to marry me. I also believe that had I stuck with my first major – biochemical engineering – I would be married to someone I know nothing about.

8. I believe that when my friends tell me I am paranoid they are wrong (well, they don’t tell me that but I know they are thinking it).

9. I believe that when Prince changed his name to a symbol it was a genius move, and that I’m going to do the same. From now on, I would like to be known as “The Broker Formerly Known As Barry,” or by my symbol: a series of question marks.

10. I believe I am a huge fan of everyone reading this and I thank you for your business, support, and friendship over the years. Wishing you a beautiful holiday season filled with peace, prosperity, and happiness!

Warm regards,

???
(The Broker Formerly Known As Barry)

It’s not easy or popular to be Banky, but somehow he manages to get by.

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Episode 5

Wuss’Up This Week: Pretty quiet week for economic reports. Tomorrow’s Weekly Jobless Claims estimates 397k. A large increase in jobless claims will help push rates down. On Friday the Trade Data report is released, which is a report that affects the value of the dollar. A falling deficit may strengthen the dollar and lead to lower rates.

Interest Rate Update: Give or take the 30-yr fixed is at 4.0% with ARM rates about a point lower. As usual, rates vary based on credit score, type of home, equity in the home, and if you are sick of hearing “Grandma Got Run Over By a Reindeer” yet.

Never thought a math problem could be interesting but this one caught my eye.

Did’ja Know… The expression should be “$1.23 for your thoughts,” because that’s what it costs the US Mint to make a single penny. What’s that? You want more penny facts? Okay…a mile of pennies laid out is $844.80. And that, my friends, wraps up this year’s edition of Penny Facts so please stop asking for more.

Travel Quote of the Day 2: “If you are in a spaceship that is traveling the speed of light, and you turn on the headlights, does anything happen?” – Steven Wright (comedian)

Timeout for Trivia: Congrats to those who guessed Billy Idol last week. Want to be entered into a drawing to win a box of Froot Loops? (BTW – years from now scientists will link all of my mental problems and hair loss to the dyes used in this cereal.) Simply email me the answer to this week’s “Who Am I?” question. Good luck: “In two days I turn 58. In an interview earlier this year I stated that, ‘I haven’t voted since 1972 and I’m not a political person,’ so in real life I don’t want to kill any politician, let alone a President. I also once claimed, in a movie about an airplane, to have killed more people than cancer…but that’s not true either. What’s going on in my head? One of my co-stars from that airplane movie probably has a pretty good idea.”

Wuss’Up This Week: This is one of those rare weeks when three reports come out about jobs. Today’s ADP Employment, Thursday’s Weekly Jobless Claims, and Friday’s Monthly Employment will all factor in how rates react this week. Friday’s report is the biggest with unemployment expected to drop to 9% and payrolls increased by 101k. Any numbers better than this and rates will most surely go up, but if numbers come in below expectations rates may drop. Also being released today is the Q3 Productivity Report which is a measure of output per hour (which, if measuring my output, is not a good thing. Before I wrote this I spent a big chunk of time finding the hidden pictures on the back of the Cap’n Crunch box).

Interest Rate Update: Post-Thanksgiving blues have rates up a little bit, but like Thursday’s leftovers they are still looking good. A 30-yr fixed remains in the low 4s with ARMs about a point lower. As usual, for any loan over $240k I will waive all lender fees – this is a $1,200 savings! Do you know anyone looking to buy or refinance a home? Give them my info and be rewarded with a Starbucks gift card (yes, it is officially Hot Chocolate Season)!

Living Quote of the Day 2: “I intend to live forever. So far, so good.” – Steven Wright (comedian)

Timeout for Trivia: Congrats to those who guessed Jamie Lee Curtis as last week’s answer. Want to be entered into a drawing to win a Vanilla Ice action figure? Simply email me the answer to this week’s “Who Am I?” question. Good luck: “I turn 56 today. I was big on the MTV circuit in the 80s and my music made me a lot of money money. One of my biggest hits was inspired by my displeasure with my sister’s fiancé who got her pregnant before marrying her. And me? I’ve never been married. Why would I settle? So many women want me, I’ll never end up dancing with myself.”