Never Give Up, Never Surrender
Hard to believe it’s early May and already my Cubbies have been mathematically eliminated from the playoffs! Speaking of giving up, let’s start today’s blog…
Giving Up Quote of the Day: “Our greatest weakness lies in giving up. The most certain way to succeed is always to try just one more time.” – Thomas A Edison
Review me positively and get $25 worth of gratitude! If you’ve enjoyed working with me, write up a testimonial on Zillow and then email me to let me know you did. I’ll send you a $25 gift card!
The Six Degrees of Kevin Bacon music version is here! I’ve been obsessed with The Six Degrees of Black Sabbath that can connect any two groups or singers in minimal steps. Can’t believe it’s only five steps to connect the Beastie Boys to the Partridge Family.
Did’ja Know…? Since the Prime Rate was created in 1947 this is the longest stretch it has gone without changing (it’s been at 3.25% for 5½ years). In 1980 it changed the most – 38 times in one year. Looking back though, it’s easy to see why there was so much chaos – in my opinion mostly due to Kenny Rogers’ horrific song “Lady” which was # 1 in the country for two of those months.
Interest rates seem to be following that Kenny Rogers timeline as in the last two months they simply haven’t moved that much. Today a 30-year fixed rate is in the low-to-mid 4s and ARM rates are about a point lower. As usual, rates vary based on type of home, equity in the home, credit score, or if you’ve had run-ins with Chuck Norris.
Wuss’up This Week: What’s up, you want to know? Not a whole lot that can shake interest rates. Today and Friday we have some auctions (10-year Treasury Notes, 30-year Treasury Bond. James Bond). If there is big interest in these auctions rates can move lower, but the opposite can always come into play.
Don’t forget to remember that for any purchase or refinance loan over $240k I will waive all lender fees – a $995 savings! Be the hero your shrink has been telling you you’re capable of being and forward this blog to anyone you know who can use the break.
Giving Up Quote of the Day 2: ““The guy in charge of naming bagpipes definitely just took one look at it and gave up.” – @Jonnysun
Timeout for Trivia: Congrats to those who guessed Bob Seger last week. Want to be entered into a drawing to win a color-changing shower head? Simply email me the answer to this week’s “Who Am I?” question. Good luck: “In two days I turn 65. Did Tom Hanks and I go drinking together? Maybe, but there are many things I can’t remember because I’ve had my problems with alcohol – which is the main reason my second marriage fell apart. At least my only kid – a daughter (who sadly got my looks and not her mom’s) – came out of that marriage. I gave her the middle name in honor of a blind musical genius friend of mine. My ex-wife and I are still friends, and if you’re a fan of 1980s videos you can see her strutting her stuff in my garage in a song that went to #3 on the Billboard Top 40.”
If you haven’t given up on social media, you can like the Hey Mortgage Fans Facebook page! More links than one blog can handle!