Drinking Quote of the Day: “Worthless people live only to eat and drink; people of worth eat and drink only to live.” – Socrates
Wuss’up This Week: In my opinion, the most important economic report comes out on the first Friday of each month. Nope, it’s not my bank emailing me that my balance is below zero…it’s the Employment Report, which this month is expected to show a dip in the unemployment rate to 8.7%. Today’s ADP Employment Report will give us a glimpse into Friday’s data. The ADP is predicted to show a rise of 125,000 new jobs from the prior month. Anything negative in either of these reports will most likely drive rates down a bit.
Interest Rate Update: Despite Big Ben’s announcement that he will stop buying bonds in June, rates have still been cooperating. A 30-year fixed remains in the mid to high 4s with ARMs about a point lower. Please let your friends, family, coworkers, and pets know that I am running my Cuatro De Mayo specials today: For all purchases and refinances over 240k I will waive all lender fees. This is so exciting that I will end this sentence with four exclamation points!!!!
Drinking Quote of the Day 2: “I think every bar is a mitzvah.” – Sara Benincasa (comedian)
Timeout for Trivia: Congrats to all who guessed Tony Danza as the answer to the 4.20 question. Want to be entered into a drawing to win a pack of Fruit Stripe gum? Simply email me the answer to this week’s “Who Am I?” question. Good luck: “In two days I turn 66. Many people don’t know that I co-wrote the Eagles’ #1 hit ‘Heartache Tonight’ or that one of my own tunes was named one of the Songs of the Century in 2001 thanks to Joel’s underwear dance. However, a lot of my fans know me as the dude who sold out to Chevrolet. Sold out? They’re from Detroit too, man!”