Rates, Rushmore, and the RFC
Hiding Quote of the Day: “When you start hiding things away, that’s when the darkness creeps up. Sunlight is the best disinfectant.” – Steve Kazee
This Week in Economic History: It was on February 2nd, 1932 that FDR created the RFC (Reconstruction Finance Corporation) which would give loans to banks and other financial institutions in an effort to help the economy out of the Depression. (*if fast food was around back then a cool headline would’ve been “FDR’s RFC Helps KFC”)
Wuss’up This Week: Reports about our economy are released daily that can sway interest rates in either direction. Being the beginning of the month it’s all about jobs this week – ADP Employment report today, Jobless Claims tomorrow, and Employment Numbers for January on Friday. Any one of these (but especially Friday’s) can move rates – the better the numbers the higher the rates will go, and vice-versa. Speaking of rates…
You’ll find a 30-year fixed in the high-3s/low-4s, with ARM rates about a half a point lower. As usual, rates will vary on type of home, equity in the home, credit score, and if you can afford one of the most 25 expensive things in the world
Don’t Forget to Remember: Any purchase or refinance loan over $240k I will waive ALL lender fees – a $995 savings! Grab yourself a cup of instant karma and pass this info onto any friends, family, coworkers, or Mt. Rushmore enthusiasts that can use this gift.
Hiding Quote of the Day 2: “You can run but you can’t hide. Unless you’re a chameleon with broken legs. Then you can hide, but you can’t run…” – @BethandiMello
Timeout for Trivia: Congrats to those who last week guessed Gwen Stefani. Want to be entered into a drawing to win a Chuck Norris Action Figure? Simply email me the answer to this week’s Who Am I? question. Good luck: “It was on this day in 1992 my duet with a guy who had released the same song in 1974 (that went to # 2) hit # 1 on the Billboard charts (*side note: both of us have last names that are common first names). In the late 80’s I released an album that spawned six Top 5 singles which included a song that Casey Kasem refused to say the title of on his countdown show. In the mid-80s my group had their first hit which had an all-girl band’s name in the title.”