More Powerful than a Locomotive!
Superman Quote of the Day: “You don’t tug on Superman’s cape, you don’t spit into the wind…” – Jim Croce, “Don’t Mess Around With Jim,” (1972)
Wuss’Up This Week: Lots of important data being released this week, which can influence interest rates. Today we have the 10-year Treasury Note Auction, which will provide an indication of foreign appetite for US debt. My prediction, you ask? Our debt is the lesser of two evils compared to debt overseas, so hopefully there will be strong demand that will drive rates down. Tomorrow’s biggest report is Retail Sales which is expected to be up 0.2% (Note: I just bought 20 pairs of new Fruit of the Loom boxers so I predict it will be up 0.3%). For this report, an increase of more than 0.2% will likely make rates tick higher. And where are rates?
Interest Rate Update: Interest rates are still really strong, Mortgage Fans. A 30-yr fixed hovers around 4% (give or take on a good or bad day) with ARM rates about a point lower. As usual, don’t forget to tell your friends, family, and coworkers (even the annoying ones) that for any purchase or refinance loan over $240k I will waive all lender fees! This is a $1,295 savings, which would buy a TON of Fruit of the Loom stuff.
Superman Quote of the Day 2: “I’m normally not a praying man, but if you’re up there, please save me, Superman.” – Homer Simpson
Timeout for Trivia: Congrats to those who guessed Bradley Cooper as last week’s answer. Want to be entered into a drawing to win a Saved by the Bell coffee mug? Simply email me the answer to this week’s “Who Am I?” question. Good luck: “I turn 61 tomorrow. In 1989 I gave birth to Bruce Willis, and some say I never lost my pregnancy weight. Two years before that you would’ve raised your glass to me when I replaced an actress who left a successful sitcom for a (non-existent) movie career.”
Enjoy the best two minutes of your day.