Lemonade, Hot Chocolate, and Rising Rates
Lemonade Quote of the Day: “We are living in a world where lemonade is made from artificial flavors and furniture polish is made from real lemons.” – Alfred Newman
This Week in Economic History: On this week in 1942 rationing caused the government to ask the American people to forgo coffee to help the war effort. I wasn’t born then but I imagine had Swiss Miss been around their sales would’ve spiked.
Wuss’up This Week: Reports about the economy are released every day that can sway interest rates in either direction. This week is all about jobs as we’ve got the ADP Employment Report today, Jobless Claims tomorrow, and Friday’s biggie the Employment Numbers for November (expected 170k new jobs). Anything positive for the economy will lift rates higher, bad numbers will help rates come down. And where are rates?
Here’s a cheesy 70s song to describe where interest rates have gone since the election ended. A 30yr fixed remains around 4.0% with ARM rates about a half a point lower. As usual rates will vary based on credit score, type of home, equity in the home, and if you have a funny pet in your home.
Don’t forget to remember: Any purchase or refinance loan over $240k I will waive ALL lender fees – a $1,050 savings! Grab yourself a cup of instant karma and pass this info onto any friends, family, co-workers or fans of the Far Side comic strip that can use this gift.
Lemonade Quote of the Day 2: “I bet if Amy Winehouse had changed her name to Amy Lemonadehouse she’d still be alive today.” – @robdelaney
Timeout for Trivia: Congrats to those who guessed Elton John in the last blog. Want to be entered into a drawing to win a Glow in the Dark Toothbrush? Simply email me the answer to this week’s Who Am I? question. Good luck: “I turn 51 today. My dad acts too – he was a dad on a sitcom from ’89-‘98 as well as a dad in a sitcom from ’98-’07. In both of those he wasn’t really a nice guy. Me? I’m nice, with the exception of winning the MTV award for Best Villain in a movie about a game you’d play in grade school. I do a great Tom Cruise impersonation which is funny because in a movie once I got jealous of my girlfriend calling her ex-boyfriend Maverick.”