Makes the World Go Round
World Quote of the Day: “The world is a playground, and life is pushing my swing.” – Natalie Kocsis
Wuss’Up This Week: It’s a pretty quiet week for reports coming out that can influence interest rates. Today we have the Fed Beige Book – a report that details current economic conditions across the U.S. Any signs of weakness can lead to lower rates. Tomorrow we have Weekly Jobless Claims (expected number: 385k) where anything higher than expected will lead to lower rates. Friday’s Trade Data report is the most important, as it affects the value of the dollar (stronger dollar = lower rates). Interesting side note: An anagram for “Trade Data” is “Dad Ate Rat” which was also the name of my high school band.
Interest Rate Update: 30-year fixed rates remain in the upper 3s with ARM rates about a point lower. Is there a reason you haven’t refinanced yet? Yeah, I’m talking to you. With a loan over $240k we will eat all lender fees – this is a $1,200 savings. So not only are you saving over $1,200 in fees but you’ll also be saving money monthly.
World Quote of the Day 2: “There are two types of people in this world: those who like Neil Diamond and those who don’t.” Bill Murray, What About Bob (1991)
Timeout for Trivia: Congrats to those who guessed Brooke Shields as last week’s answer. Want to be entered into a drawing to win a box of Charms Blow-Pops? Simply email me the answer to this week’s “Who Am I?” question. Good luck: “I turn 54 tomorrow. I’m past my midlife crisis, which means I won’t go out and buy a sports car or even sing about one. So I’ll leave the singing to you: Sing me ‘Happy Birthday’ but don’t use my name, because I got rid of it in 1993. And yes, we will have a party as if it were the late ’90s.”
Survey says we will miss you, Richard.