Rates, Reds, and Fences
Red Quote of the Day: “Nyquil comes in two colors, red and green, and it’s the only thing on the planet that tastes like red and green.” – Lewis Black
Today in Economic History: Here’s some more red for you. It was on this date in 1994 that Orange County, California racked up debts of almost $2 billion before it decided to declare bankruptcy.
Wuss’up This Week: Every day reports about our economy are released into the wild that can sway interest rates in either direction. This week it’s all about employment as today we’ve got the ADP Employment Report, tomorrow Jobless Claims, and on Friday the November Employment Numbers which is the biggest of the three. If numbers come in strong expect rates to trend the wrong direction, and vice-versa if the numbers come in lower than expected.
Interest rates remain content where they are now and have been for the last four months. A 30-year fixed remains in the high-3s/low-4s, 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 has a 40-foot fence around it.
Don’t Forget to Remember: Any purchase or refinance loan over $240k I will waive HALF of the lender fees – a $895 savings! Grab yourself a cup of instant karma and pass this info onto any friends, family, coworkers, or flying volleyball players that can use this gift.
Red Quote of the Day 2: “I’d like to put a big red bow on the coffin of the guy who came up with those Lexus ads.” – @thesulk
Timeout for Trivia: Congrats to those who last week guessed my favorite germaphobe Howie Mandel. Want to be entered into a drawing to win a Jar of Brain Erasures? Simply email me the answer to this week’s Who Am I? question. Good luck: “In two days it’s my birthday which is a good segue for this next sentence: I am the only actress to pose in my birthday suit in Playboy as well as win an Academy Award. That award came from my ’97 movie but I won’t tell you the name of it. Shhhh, it’s confidential. Here’s something that’s not a secret: I’ve never had good luck with men. At one point I dated Prince (suffering a miscarriage with his baby), had an affair with Richard Gere (we made a movie together in ’86), and divorced my ex-husband who has said publicly he doesn’t support Trump even though Trump seems to support him!”