Love, Budgets, UFOs, and Rates Creeping Up?

Love Quote of the Day: “And in the end/the love you take/is equal to the love you make.” – The Beatles

Today in Economic History: It was on this day back in 1778 that the Committee on Finance of the Continental Congress presented the nation’s first budget. I wonder what that committee would think if they could see the current US debt at $22-trillion

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. This week we’ve got the Fed supposedly cutting rates today by .25%, and late this week Housing Starts, Jobless Claims, and Existing Home Sales. In regards to the rate cut most people think rates will drop the minute it happens but that’s not really the case. Banks have expected this for months so they have already baked this info into the rates they quote you and I. You’ll want to look at the overall big picture which is: how is the economy doing, and what did the Fed say during the announcement. Don’t forget in the early 2000s Fed Chairman Alan ‘it’s not easy being’ Greenspan raised the ‘Fed Rate’ 5 times in a two-month span, but during that time 30yr fixed rates fell because the economy was doing so poorly.

Interest Rate Update: At the beginning of my sophomore year in high school I went from a crew-cut to a full blown afro. This was because I was told for basketball tryouts the coaches wouldn’t look at anyone under 6 feet. While I was 5’9 my afro brought me to 6’1 and it only took me three weeks to grow it out – I was like a Chia Pet on steroids. Last week’s rates had the same parallel as rates exploded upwards at afro speed. A 30yr fixed can now be found anywhere from 3.75% – 4.125% with adjustable rate mortgages less than a sliver lower. As usual rates will vary based on type of home, equity in the home, your credit score, and if you’re curious how the Shawshank Redemption became a hit.

Don’t Forget to Remember: any purchase or refinance loan that closes with me between now and Thanksgiving I will waive $500 in closing costs. Grab yourself a cup of instant karma and pass my info along to any friends, family, coworkers, or UFO enthusiasts that can use this gift!

Love Quote of the Day 2: “I love when football players put their T-shirts over their shoulder pads because they look like business women from the 80s.” – @JennyJohnsonHi5

Timeout for Trivia: Congrats to those who guessed Louis CK last week. Want to be entered into a drawing to win an MTV retro T-shirt? Simply email me the answer to this week’s Who Am I? question. Good luck: “It was on this day in 1989 that my drama debuted on ABC. My first name in the show is Douglas but the title of the show had a different name. In real life you know me by my first, ,middle, and last names – and an anagram for my first and last name is ‘hair liners’. Beside those hints let me just say I’m an all-American guy you’d want to bring home for your mom to meet, and In 2015 you might’ve seen me as the main focus at an AA gathering (no, not Alcoholics Anonymous).”

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