Oscars, Gold, and Almost Perfect Rates
Move Quote of the Day: “I can choose to let it define me, confine me, refine me, outshine me – or I can choose to move on and leave them behind me.” – Author Unknown
This Week in Economic History: In February 1932 there was a shortage of gold due to people stockpiling it to get thru the Depression. (side note: ironically I have no gold to help me get over my credit card bill depression). As a result Congress passed the Glass-Steagall Act which gave more power to the Federal Reserve Board, allowing them to extend credit, and let them release some of the government’s gold to businesses.
Wuss’up This Week: Every day reports are released about the economy that can sway interest rates in either direction. Today we have New Home Sales (consensus: 520k), tomorrow Jobless Claims, and on Friday Consumer Sentiment. I wish these reports were as humorous as police reports.
Interest rates remain low, Mortgage Fans! Today a 30-year fixed is in the mid-to-upper-3s with ARM rates about .50% lower. As usual rates will vary based on type of home, equity in the home, credit score, and if you like pictures of things that are…kind of perfect.
Don’t forget to remember: Any purchase or refinance loan over $240k I will waive all lender fees – a $1,050 savings! Grab yourself a cup of instant karma and tell any friends, family, coworkers, or people interested in Academy Award Firsts that can use this gift.
Your moment of Zen.
Move Quote of the Day 2: “Every time someone clears their browser history there should be a little voice that says, ‘Good Move.’” – @yoyoha
Timeout for Trivia: Congrats to those who last week guessed James Taylor. Want to be entered into a drawing to win a retro Mr. Bubble T-shirt? Simply email me the answer to this week’s Who am I? question. Good luck: “It was this week back in 1997 that my movie was still making money (what is it about that word?) at the box office even though it was released in Dec ’96. Me and the couch jumper starred in another movie together where he made the old guy go cuckoo in the end.”