Generations, Stable Rates, and Oreos!
Generation Quote of the Day: “We have the power to make this the best generation of mankind in the history of the world or to make it the last.” – John F. Kennedy
This Week in Economic History: It was on March 14th, 1812 we were on the eve of war with Britain and President James “my wife Dolly makes great snacks” Madison was struggling to round up the necessary resources for a war. So Congress, at the urging of Madison, approved the very first war bond totaling $11-million dollars.
Wuss’up This Week: Every day reports about our economy are released into the wild, and it’s these reports that can sway interest rates in either direction. Today we’ve got the Durable Goods Orders Report (*this is for items that last more than three years like cars, planes, and the Kraft Honey Mustard salad dressing that’s been untouched since I bought it years ago. I’m testing my wife to see if she’ll ever throw it out), tomorrow Weekly Jobless Claims, and on Friday Capacity Utilization (*no clue what that is, sorry, Mortgage Fans). If these numbers come in better than expected you’ll see interest rates tick up, and vice-versa if the numbers disappoint.
Interest rates remain low with a jumbo 30-yr fixed (*that’s any loan over $484k) in the low-4s, and conforming 30yr fixed (*any loan under $484k) in the mid-to-upper 4s. Adjustable rate mortgages can be found anywhere from .25-.50% less than the 30yr fixed. As usual rates will vary based on type of home, equity in the home, your credit score, and if you’ve ever wondered what the crème filling is made of inside of an Oreo.
Don’t Forget to Remember: Any purchase or refinance loan closing with me between now and April 30th I will waive the appraisal fee (a $450 savings)! Grab yourself a cup of instant karma and pass this blog onto any friends, family, coworkers, or anyone in the Guinness Book of Records for wearing the most T-shirts at one time.
Generation Quote of the Day 2: “I’m proud to be part of a generation that was once mesmerized by Lite-Brites but now complains if we can’t stream HD video on our phones.” – @hipstermermaid
Timeout for Trivia: Congrats to those who last week guessed the most overrated singer of the 1990s Celine Dion. Want to be entered into a drawing to win an Arm Wrestling Battle Game? Simply email me the answer to this week’s Who Am I? question. Good luck: “It’s my birthday today and I’m getting old. I think what I should be celebrating more is my marriage to the same person for over 20 years – how often do Hollywood marriages last that long?! Maybe she was desperate to get married. Regardless, she’s a lot more loyal than my wife in my 1997 movie about the adult entertainment industry. You might also remember me from my Academy Award nomination from my 1996 movie, ay? Lately you’ll see me on my cable series whose one-word title means flagrant/blatant/audacious.”