Refis are free, but you’ll have to earn the Apple Jacks.
Food Quote of the day: “Fat gives things flavor.” – Julia Child.
Wuss’up This Week: Anyone out there in a relationship feeling that 7 year itch? Me too! The cure is today’s 7-year Treasury Note Auction. $29 billion of notes will be auctioned; a strong demand will lead to lower rates. Some other biggies that can sway rates this week are PCE Core Inflation, ISM Index, and U of Michigan Consumer Sentiment. These all come out on Friday morning. The U of M report gives an indication of consumers’ willingness to spend. While I don’t have proof, I know people in Michigan spend more when the U of M football team is having a good season. I just bought a couch and I think it’s because the Bears beat the Packers (and because the neighbor’s dog peed on it).
Refinance Tip: Don’t forget that besides the trusty 30-year fixed, you can also get a 25-year and 20-year (and 15-year) fixed. In a lot of cases people call me and go from a 30-year to a 25-year and still lower their monthly payment. Call me for a mortgage checkup (773.413.6242) to see what we can do to save you some money.
Interest Rate Update: 30-year fixed rates incredibly are still in the low to mid 4s. ARM rates are about a point less. Please pass this email onto anyone you think might benefit from my free refinance. For any loan over 240k I will waive all fees involved.
Food Quote of the day 2: “Oh man! How’d you get the beans above the frank?” – Mary’s step-father (Keith David), There’s Something About Mary (1998)
Timeout for Trivia: Congrats to all of you who correctly guessed Heather “we’re not worthy” Locklear as the answer to last week’s trivia. Want to be entered into a drawing to win a box of Apple Jacks? Simply email me the answer to this week’s Who Am I? question. Good luck: “It was on this date back in 1986 that my song about dancing (or Spiderman dancing?) hit number one in the United States. In the 70s I was part of a rock group that had many hits. One of the bigger hits was sung by Eddie Murphy in his Alfalfa character on SNL. That’s the kind of pop-culture that’s fun to look back on. What’s pop-culture that isn’t fun? How about Justin Bieber singing my part in the We are the World remix. It’s all good though; it’s been a fun life. My daughter might call it a Simple Life.”
I just killed a fly that’s been taunting me for the entire half hour I’ve been writing this blog. I’m going to leave him on my desk to send a message to his friends not to mess with me.