Interest Rates and Craftmatic Beds
The unemployment report comes out the first Friday of every new month. Although economists expect it to get worse before better, we aren’t at the all-time worst. Here are some stats: Lowest unemployment ever was in June of 1953 when it was at 2.50%. That year the Korean War ended, From Here to Eternity won the Best Picture, and Marilyn Monroe graced the cover of Playboy’s first issue. Was this the best year in our country’s history? Fast forward almost 30 years to 1982 when unemployment was at its highest – 10.80%. Also that year — Time Magazine’s Man of the Year is given for the first time to a non-human, the computer, Silver Spoons premiers on NBC, and I hit a parked car during my Driver’s Ed test. Could this be the worst year in our country’s history? I submit the answer is yes!
Inspirational Quote 1
“Twenty years from now you will be more disappointed by the things that you didn’t do than by the ones you did do. So throw off the bowlines. Sail away from the safe harbor. Catch the trade winds in your sails. Explore. Dream. Discover.” – Mark Twain
“Nothing great was ever achieved without enthusiasm.” – Ralph Waldo Emerson.
What do rates and my grandfather lying in his Craftmatic bed watching the Cubs have in common? Neither one looks like they are going to move. After a crazy 7 months, rates on the 30yr fixed have settled in the low 5s and I predict they will remain there for the rest of the year. As of this writing, they are at 5.125%. As always, rates move based on equity in the home, credit scores, and type of property.
Inspirational Quote 2
“Get off your lazy butt and pass this final. Otherwise I’ll be teaching you in summer school. I know you don’t want to see me this summer, and I sure as hell don’t want to see you.” – Mrs. Bina (my 7th grade math teacher), 1979.
Congratulations to those of you last week who correctly guessed Hilary Swank. Want to win a $5.00 Starbucks gift card? Simply be one of the first ten to answer the Who Am I question correctly: “I turn 53 today. As a child I appeared in the sitcoms I Dream of Jeannie, Bewitched, and My Three Sons. My big break came when I starred in a sitcom that ran from 1969-1974 – with my most memorable episode being when I broke my nose. Typecast for the rest of my career I was only able to get bit parts on Happy Days, Love Boat, and Fantasy Island . Oh, and like most child stars I found comfort in cocaine and Quaaludes.