Hostages, Low Rates, and Avocados!
Hostage Quote of the Day: “You can’t let your past hold your future hostage.” – LL Cool J
Did’ja Know: The most counterfeited denomination of money is the $20 bill. In foreign countries it’s our $100 bill. And while we are on the topic of counterfeiting you might find the Coinage Act of 1972 interesting as it states that any counterfeiting by Mint employees is punishable by death.
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 the FOMC Minutes are released, tomorrow we’ve got Weekly Jobless Claims and New Home Sales, and on Friday Durable Goods Orders and the Faking Like I’m Working But Really Gearing Up For The 3-Day Weekend Report. If these come in good for the economy you can expect rates to tick up, and vice-versa if the reports disappoint.
Interest rates remain pretty stable ahead of the long weekend. A jumbo 30yr fixed (that’s any loan over $484k) remains in the very low 4s, and conforming 30yr fixed (under $484k) a sliver above. Adjustable rate mortgages are not far behind – maybe .125-.25% lower than the fixed rates. As usual rates will vary based on type of home, equity in the home, your credit score, and if you are curious to know facts about bees.
Don’t Forget to Remember: Any purchase or refinance loan that closes with me between now and the end of July I will waive $500 in closing costs! Grab yourself a cup of instant karma and pass this info along to any friends, family, coworkers, or people that eat the best breakfast cereals of all-time. (*I hesitated putting this link on the blog, Mortgage Fans, because it didn’t rank Lucky Charms # 1, and there’s no mention of Boo Berry or Franken Berry. That’s the problem with the internet – anyone can post anything, but still a decent read).
Hostage Quote of the Day 2: “Basically anything you buy at a hardware store looks like you’re getting ready to take hostages.” – @juliussharpe
Timeout for Trivia: Congrats to those who guessed Joan Rivers last week. Want to be entered into a drawing to win an Avocado Pool Float? Simply email me the answer to this week’s Who Am I? question. Good luck: “It was on this day in 2003 – for better or worse – I married my wife Torrei. The worse came in 2011 when we divorced. But let’s talk about the good stuff that has happened in my career because it’s been a wild ride along my journey in movies and comedy. You might remember me from my 2015 prison movie with a former SNL cast member that had a title that could double for an adult movie. Or you might remember me from movies even worse than that one (Little Fockers, Jumanji: Welcome to the Jungle, etc.). Okay, make your jokes about how I’ll never give a speech for any of my movies at the Academy Awards.”