Panic, Bowling, and Nice Rates!
Nice Quote of the Day: “You’re never too important to be nice to people.” – Jon Batiste
Today in Economic History: It was on this day that the Panic Of 1837 started. This was a result of President Andrew Jackson’s actions to end the Second Bank of the United States (SBUS) which held federal funds for smaller banks. With the lack of liquidity riots started in New York City, and the panic continued for seven long years. (*note: this is not to be confused with the Panic of 2017 when I lost my iPhone for over four minutes).
Wuss’up This Week: Every day reports about our economy are released into the wild which can impact interest rates to move in either direction. Today we’ve got a 10-Year Note Auction (*these make a great birthday gift), tomorrow Jobless Claims, and on Friday two biggies – Retail Sales (*these should be up, I just bought a six-pack of Rogaine from Wal-Mart), and Consumer Sentiment (*this is a report about how willing consumers are to spend money. I think this will be down since that six-pack of Rogaine set me back over $100).
Interest rates stabilizing? Maybe, Mortgage Fans. They’ve been floating around 4% for a 30yr fixed for the last couple weeks (ARM rates running about a half a point lower). As usual, rates will vary based on type of home, equity in the home, your credit score, and if you are good at carving food.
Don’t Forget to Remember: Any purchase or refinance loan over $240k I will waive HALF of the lender fees – an $895 savings! Grab yourself a cup of instant karma and pass this info onto any friends, family, coworkers, or record-setting perfect-game bowlers that can use this gift!
Nice Quote of the Day 2: “That really wasn’t nice of Dorothy to say “I’ll miss you most of all” to Scarecrow with Lion & Tin Man standing right there.” – @friedmanion
Timeout for Trivia: Congrats to those of you who guessed the Beach Boys last week. Want to be entered into a drawing to win Glow in the Dark Sand? Simply email me the answer to this week’s Who Am I? question. Good luck: “My birthday today – what a beautiful day! I have a Beatle’s wife’s name in my name, but that’s about as close as our musical a careers get. The author of this blog calls me part of the most overrated band of all-time but I disagree. Plenty of Top 40 hits including a song we released on January 1st, 1983 (yeah, we are a literal band) – that song came from our album that also had a song title that could be the theme song of the Bears’ 2006 Super Bowl.”