Photo-Bombers, Raising Rates, and the Importance of Home Inspections!
Stress Quote of the Day: “Much of the stress that people feel doesn’t come from having too much to do. It comes from not finishing what they’ve started.” – David Allen
This Week in Economic History: It was on March 20th, 1933 that President Roosevelt signed the Economy Act into law. Another move to combat the Depression, the Economy Act slashed the salaries of federal employees, as well as cutting the budget by a third in the name of preserving the nation’s fiscal resources. In 1979 the exact opposite happened. To combat my depression of getting dumped in 7th grade I took all the money I had saved and bought a box of Bubble Yum to drown my sorrows in.
Note to my realtor friends: Let your clients know why it’s super-duper important to get home inspections.
Wuss’up This Week: Every day reports about our economy are released into the wild that can sway interest rates in either direction. Today our new Fed Chief Jerome Powell will lose friends as he raises the rates by a predicted .25%. This is the first of 3-4 rate hikes this year. Tomorrow we’ve got Jobless Claims and on Friday the New Home Sales report.
Interest rates remain the mid-4s for a 30-year fixed loan, with adjustable rate mortgages 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 were one of the most famous photo-bombers ever.
Don’t Forget to Remember: Any purchase or refinance loan closing this spring (yes, spring started yesterday!), between now and the end of August, I will eat the appraisal fee – a $400 savings! Grab yourself a cup of instant karma and pass my info onto any friends, family, coworkers, or tiny landscape painters that can use this gift.
Stress Quote of the Day 2: “Few things stress me out as much as a waiter who doesn’t write the order down.” – @capricecrane
Timeout for Trivia: Congrats to those of you who guessed Albert Einstein last week. Want to be entered into a drawing to win Cat Jenga? Simply email me the answer to this week’s Who Am I? question. Good luck: “It’s my birthday today and I want to know – who is old enough to remember Star Search? That’s where I got my start in 1984. Let’s fast forward eight years – maybe you’ll remember me from the first movie I ever starred in A League of Their Own. In ’93 I played Meg Ryan’s best friend in a movie whose title would make you think it was about insomniacs. From ’96 to 2002 I had a stint on TV, and I guess I’m a little jealous that Mr. Mission Impossible never jumped on my furniture.”