Hamilton, Rates, and Frosted Flakes!
Despite how divided we are as a country today is a day to leave the politics behind and remember why we live in the greatest country in the world. Here are 10 reasons to be proud.
Greatness Quote of the Day: “The greatness of a man is not how much wealth he acquires, but in his integrity and his ability to affect those around him positively.” – Bob Marley
Today in Economic History: It was on this day in 1789 that President George Washington named Alexander Hamilton as the nation’s first Secretary of the Treasury. Hamilton’s first task was stabilizing the nation’s economy, paying back the huge debt from the Revolutionary War, and making sure he did enough stuff so there would be a future musical about his life.”
Wuss’up This Week: As Jim Morrison once said, “Mortgage bonds and 10-year Treasury yields are breaking on through to the other side.” Or something like that, right? This always helps rates, as well as talk of a recession. Will we have one? This blogger thinks we will – albeit not a major one. (*first time in my life I’ve ever written the word ‘albeit’ – I’m not sure what’s gotten into me this morning). When talks of recession start mortgage rates seem to go down. We’ll see… Today we’ve got a 10-yr Note Auction (these make great birthday gifts), tomorrow the Employment Report, and on Friday the Retail Sales Report. Anything less than good with drive rates down and vice-versa if they meet or beat expectations.
Interest Rates on the Rise? Well… sort of, Mortgage Fans. You’ll read about how low they are now – and they are – but the last few business days they’ve gone up. Still beautiful though – a 30yr fixed rate you’ll find anywhere from 3.625% – 3.99% with adjustable rate mortgages a teeny sliver lower. As usual rates will vary based on your credit score, type of home, equity in the home, and if you own one of the biggest homes on the planet.
Don’t Forget to Remember: Any purchase or refinance loan that closes with me between now and Thanksgiving I will waive $500 in closing costs! Grab yourself a cup of instant karma and pass my info along to any friends, family, coworkers, or people thinking of keeping a loved one’s skull that can use this gift.
Greatness Quote of the Day 2: Some men are born to greatness. Some have greatness thrust upon them. Me? I like waffles.” – @Brain_wash
Timeout for Trivia: Congrats to those who last week guessed Madonna. Want to be entered into a drawing to win a Frosted Flakes T-shirt? Simply email me the answer to this week’s Who Am I? question. Good luck: “It’s my birthday tomorrow and I’m not going to ask you to sing me Happy Birthday as I’m sure I probably offended you at some point. Maybe I’ll ask Matt LeBlanc to sing to me – we both graduated from the same high school in 1985. That would be cool but no way Aniston or Cox would sing to me – that would set back the #MeToo movement quite a bit. Life was tough before I got caught up in that because I thought I was pretty lucky to have a sitcom on HBO even though they canceled it after a year. I did get a part on a sitcom (2009-2012) with a very funny SNL star that took place in Indiana but left it to concentrate on my sitcom that FX picked up. However, my career has never been the same – I’m divorced and lonely. Maybe I’ll hire a clown for my party.”