Rates and the Chicago Cubs
“To me there are three things everyone should do every day. Number one is laugh. Number two – spend time in thought. Number three, you should have your emotions move you to tears. If you laugh, think, and cry, that’s a heck of a day.” – Jim Valvano
Came down quite a bit last week. As if this writing, a 30-yr fixed is at 5.125%, and a 5-yr arm is at 4.25%. These rates can fluctuate everyday and are also influenced by equity in the home, type of home, credit scores, and Cubs scores.
Inspirational Quote 2
“Bring the dog, I love animals… I’m a great cook.” – Alex Forrest (Glenn Close), Fatal Attraction, 1987
Did’Ja Know 1
The Fed Minutes are released today at 1:00. What are these? Notes from the last meeting from the Federal Open Market Committee three weeks ago; and the minutes from this meeting have the ability to cause mortgage rates to fluctuate because they provide more policy details than the standard post meeting release. Also, for your information – here are the minutes from the Schwartz Family Meeting last night: 1. Wife Swap is a stupid show; let’s stop watching it. 2. Low on Hostess Cupcakes, need to buy more. 3. Listerine is a painful mouthwash. Meeting adjourned!
Did’ja know 1
There isn’t a website that shows if rates are up or down, but you can take educated guesses by following the 10-year treasury. Historically, mortgage interest rates move in step with the yield of the 10-year treasury. If the yield on the 10-year treasury goes up, the price of the treasury goes down – therefore the yield goes down and rates (and my blood pressure) go up. Confused? Me too, but here’s a good website to look at: http://finance.yahoo.com. If the 10yr bond (on the left hand side) is in red, that is good for rates. If it’s green, it’s not good for rates.
Congrats to all who guessed Kevin Bacon correctly last week. Want to win a Starbucks $5.00 gift card this week? Simply be one of the first ten people to email me the correct answer to this week’s Who Am I? question: “I turn 36 today. Even though my middle name is a Texas town, I was born and raised in North Hollywood . Got my first big break in TV when Donna Mills played my mom for 3 seasons on Knots Landing, but then I moved zip codes to a drama that watched me graduate high school and college. It’s true what they say about art imitating life, as I dabbled with being a rapper on that drama, and I also released a rap album in 1996 titled One Stop Carnival which got ripped by music critics. You can rip my musical abilities, but not my taste in women. I am currently dating a girl that is ranked # 2 on the Maxim Magazine Hot 100 list. We got engaged, broke it off in February 2009, but are still dating – so you can say our relationship has transformed.”
Did’ja Know 2
No animals were harmed in the making of this blog.