Hearts, Rates, & Gorillas
Heart Quote of the Day: “A good heart is better than all the heads in the world.” – Edward G. Bulwer-Lytton
Did’ja Know: The first Valentine’s Day was in the year 496. It’s rumored that back then Hallmark carved their cards out of stone and petrified manure.
Today in Economic History: It was on this day back in 1903 that President Theodore Roosevelt and Congress approved the creation of the Department of Commerce and Labor. The main task of the department was to regulate the operations of large companies and monitor their trade practices.
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 Retail Sales (expected up 0.7%), tomorrow the Producer Price Index (this report measures inflation), and on Friday Housing Starts. These are all big-time reports that can move rates. And speaking of rates…
…they tend to be mellowing out after a quick rise although the damage has been done from our record lows. Today’s 30yr fixed can be found in the low-4s with adjustable rate mortgages a little bit lower. As usual rates will vary based on your credit score, type of home, equity in the home, and if your home has secret rooms.
Don’t Forget to Remember: Any purchase or refinance loan over $240k I will waive HALF the lender fees – an $895 savings! Grab yourself a cup of instant karma and pass this info onto any friends, family, coworkers, or people that can defrost windshields quickly that can use this gift!
Heart Quote of the Day 2: “Breaks my heart that pirates spend their whole lives following a map when the real treasure is the friendships they build along the way.” – @JasonLastname
Timeout for Trivia: Congrats to those who guessed Bruno Mars last week. Want to be entered into a drawing to win Gorilla Arms Salad Tongs? Simply email me the answer to this week’s Who Am I? question. Good luck: “It was this week in 2001 that my movie sequel was # 1 at the box office – a movie whose moral could be you are what you eat. You might remember the co-star of the movie from her other hits like Boogie Nights and The Big Lebowski. She took the place of my costar in the original movie who you might’ve also remembered from her earlier work which almost got a President assassinated.”