Safe and Sound
Listening Quote of the Day: “If you’re listening to a rock star in order to get your information on who to vote for, you’re a bigger moron than they are.” – Alice Cooper
If Tom Skilling was a mortgage broker he’d be telling you we have a 70% chance of rates continuing to rise, and that while 30-year fixed rates are in the low 4s the heat index makes it feel like the 5s! And why not? We lived with rates in the low 3s for so long I think we just got spoiled. Some experts think they will settle somewhere in the mid-4s (we’re almost there now). Here is what I do know: rates are still beautifully low, Mortgage Fans, and it’s still a great time to buy or refinance your home.
Wuss’up This Week: You want rates to go down? Just buy a bunch of 10-year Treasury Notes at today’s auction. A strong demand will lead to lower rates. Tomorrow we’ve got two important reports – Weekly Jobless Claims (expected at 348k) and Retail Sales (expected up 0.6%). Any weakness in these reports can lead to lower rates. Three big reports that come out on Friday that can help/hurt rates too – Producer Price Index, Industrial Production, and Capacity Utilization.
Don’t forget to remember: Let your friends, family, coworkers, and anyone else whose good side you want to get on know that for any purchase or refinance loan over $240k I will waive all lender fees – a $1,295 savings!!
I remember reading an Onion headline that said “Starbucks opens inside Starbucks restroom”. Yeah, maybe there are too many but some of these look pretty cool.
Listening Quote of the Day 2: “I asked my wife what women really want and she said attentive lovers. Or maybe it was ‘a tent of lovers.’ I wasn’t really listening.” – Ken Jennings (@KenJennings)
Timeout for Trivia: Congrats to those who guessed Michael Cera last week. Want to be entered into a drawing to win an autographed picture of Lindsay Lohan? Simply email me the answer to this week’s “Who Am I?” question. Good luck: “Tomorrow I turn 51. I’m an actress that hit my prime in the 80s: In 1983 I starred in a nuke movie with a guy is famous for taking a day off. In 1984 I starred with a brat packer in a remake of the 1938 film A Yank at Oxford, and in 1985 I starred with a bunch of brat-packers in a movie where I had a lot of dandruff.”