Opportunities, Stable Rates, and One Big Cereal Box
Opportunity Quote of the Day: “If opportunity doesn’t knock, build a door.” – Milton Berle
Today in Economic History: It was on this day in 1995 that University of Chicago professor Robert Lucas was awarded the Nobel Prize in Economic Science for his ‘rational expectations’ hypothesis regarding the link between human tendencies and macroeconomics. (*note: to show you the IQ difference between Mr. Lucas and myself my ‘rational expectation’ paper would’ve been titled, ‘Hiring a Tutor Will Help You Pass Math 101 in College After Failing it the First Two Times’)
Wuss’up This Week: Every day reports about our economy are released into the wild that can sway interest rates in either direction. Today we’ve got the Fed Meeting Minutes, tomorrow Jobless Claims, and on Friday the Retail Sales Report (this should be good – just bought some huge boxes of cereal at Costco. But not Guinness World Record big.
Interest rates remain in the high-3s/low-4s for a 30yr fixed, with ARM rates about a half a point lower. As usual rates will vary based on your credit score, type of home, equity in the home, and if your home is the Beverly Hillbillies mansion.
Don’t Forget to Remember: Any purchase or refinance loan over $240k I will waive HALF the lender fees – an $895 savings! Grab yourself a cup of instant karma and pass this info onto any friends, family, coworkers, or people that like reading famous letters that can use this gift.
Opportunity Quote of the Day 2: “If someone starts a speech, “I’d like to take this opportunity –.” I interrupt by shouting, “He’s trying to take our opportunity! Grab him!””- @rolldiggity
Timeout for Trivia: Congrats to those who guessed Alicia Silverstone last week. Want to be entered into a drawing to win a ‘I was personally victimized by Regina George’ T-shirt? Simply email me the answer to this week’s Who Am I? question. Good luck: “I’m an old rocker and it’s my birthday today. My writing partner has a last name that is similar to corn, grain, buckwheat, etc. Together we had a bunch of number one hits that started somewhere in the mid-70s and spanned thru the late 80s. Our hit from ’82 was about New York and how it can eat you and spit you out, but most people think it’s about a girl. Speaking of girls – our first number one hit in ’76 was about a girl with lots of money.”