Rising Rates, Unusual Homes, and… Pancakes!
Pancake Quote of the Day: “Everything can have drama if it’s done right. Even a pancake.” – Julia Child
Did’ja Know: Gold can be found beneath the earth on all seven continents, and it’s believed that around 80% of the earth’s gold is still buried. With that said, here’s a list of the 10 Most Unbelievable Gold Diggers.
Wuss’up This Week: Every day reports about our economy are released into wild, and it’s these reports that can sway interest rates in either direction. Today we’ve got New Home Sales (expected: 628k), and also today the Fed meeting will adjourn and it’s expected that they will hike up rates .25% (here’s a clip of how I think things would go down if Squidward was The Fed). Tomorrow we’ve got the Durable Goods Orders Report (expected: up 0.2%), and on Friday the U of Michigan Consumer Sentiment Report (expected 100.6). If these reports come in strong for the economy rates will go up, and vice-versa if the numbers disappoint.
What goes up must…go higher? Interest rates had a bad week last week and the Fed raising rates won’t help them. A 30yr fixed rate stands in the high-4s to low-5s with adjustable rates anywhere from .25-50% lower. As usual rates will vary based on credit score, type of home, equity in the home, and if you live in one of the five most unusual homes in the world.
Don’t Forget to Remember: Any purchase or refinance loan closing with me between now and October 31st I will waive $500 in closing costs. Grab yourself a cup of instant karma and pass my info along to any friends, family, coworkers, or people who are good at finding hidden album covers.
Pancake Quote of the Day 2: “Eggnog, who thought that one up? ‘I wanna get a little drunk, but I also want some pancakes.’” – Dave Attell
Timeout for Trivia: Congrats to those of you who guessed Spike Lee last week. Want to be entered into a drawing to win a Dog Eating Coins Piggy Bank? Simply email me the answer to this week’s Who Am I? question. Good luck: “It was on this date in 2010 my song about what a high-schooler would do at night hit # 1 on the Billboard Charts. This was my second consecutive # 1 hit – the title of that song sounded just like a Beach Boys title, right? Some of my songs do that – like the one I wrote and recorded (and hit # 1 in May 2008) about same-sex smooching had the same title but different spelling as a one-hit wonder in 1995. Music has been great for me, marriage has not. To say I’m currently looking for a brand new husband is the truth as well as a play on words.”