Nothing But a Number
Old Quote of the Day: “How old would you be if you didn’t know how old you were?” – Satchel Paige
Wuss’up This Week: A quiet week because of Labor Day, but still some financial reports will be released that can influence rates in either direction. Today we have the Fed “Beige Book” report. This report details current economic conditions across the country. Signs of weakness may lead to lower rates. Tomorrow we have two biggies: First, the Weekly Jobless Claims report – which follows in the footsteps of last Friday’s horrendous report. Higher claims can lead to lower rates. Also on Thursday the Saints play the Packers in the NFL season opener. A Packer loss will result in better rates and all-around happiness.
Interest Rate Update: A 30-year fixed remains in the low 4s with ARM rates about a point lower. Are you only going to own your home for five years or less? This is a great moment to save big-time money by refinancing your current ARM or fixed rate to an ARM. As usual, for any loan over $240k I will waive all lender fees (a $1,200 savings!). Please pass this along to any friends, family, coworkers, and pets that are thinking of buying or refinancing their homes.
Old Quote of the Day 2: “Blue was old, that is what old people do, they die…” – Beanie (Vince Vaughn), Old School (2003)
Timeout for Trivia: Congrats to those of you who guessed Richard Gere as last week’s answer. Want to be entered into a drawing to win a Melrose Place DVD (season 3)? Simply email me the answer to this week’s “Who Am I?” question. Good luck: “In two days I turn 51. I spent many years getting bit parts and almost quit the acting industry but a funeral made me an overnight star. Renee Zellweger wrote about me a lot but I never dated her. I did date an international supermodel for several years and then became very famous for screwing up that relationship. Yeah, I’ve made mistakes…but you know the old saying: To err is human, to forgive Divine Brown.”
Greatest pop-culture dance video of all-time! See how many movies you can name.