Salad Days, Low Rates, and Expensive Homes!
Salad Quote of the Day: “You don’t win friends with a salad.” – Homer Simpson
Wuss’up This Week: Every day reports about our economy are released into the wild, and it’s these reports that can sway interest rates in either direction. Today we’ve got the FOMC Decision, tomorrow Weekly Jobless Claims (expected: 220k), and on Friday Existing Home Sales. If these reports are good for the economy you can expect interest rates to tick up, and vice-versa if the numbers disappoint.
Interest rates have remained surprisingly low this summer. Yes, I mention summer because it’s over 60 degrees today! Today you’ll find a 30yr fixed in the upper-3s/lower-4s, and adjustable rate loans about .125-.25% lower. As usual rates will vary based on your credit score, type of home, equity in the home, or if you own one of the world’s most expensive homes.
Don’t Forget to Remember: Any purchase or refinance loan closing with me between now and end of August will get a $500 credit towards closing costs. Grab yourself a cup of instant karma and pass this info along to any friends, family, coworkers, or underwater restaurant enthusiasts who can use this gift!
Salad Quote of the Day 2: “When I’m eating a salad and some leaf stems are sticking out of my mouth I feel like a brontosaurus.” – @midtownrat
Timeout for Trivia: Congrats to those who last week guessed Pink Floyd. Want to be entered into a drawing to win a Cap’n Crunch T-shirt. ? Simply email me the answer to this week’s Who Am I? question. Good luck: “Hey everyone, I won’t judge you if you don’t wish me a happy birthday but you should. It’s been a wild life so let me tell you about my highlights and lowlights. In the 1980s there was a group of actors called the Brat Pack and I married one of them. You want to know why? Because we had absolutely nothing in common – which is what one of my hit songs refers to. You’ve heard my songs and a handful of them shot straight up the charts, but that was back when I was more popular in the 80s and 90s. These days I shift the focus away from me and use my fame to help others. I have a fundraiser that helps blind people get matched up with guide dogs. You shouldn’t get that confused with another dawg I used to work with.”