Santa, Candy Canes, and Juggling Rising Rates

Christmas Quote of the Day: Christmas isn’t just a day, it’s a frame of mind.” – Kris Kringle, Miracle on 34th Street

This Week in Economic History: It was on this day in 1913 Congress passed the Federal Reserve Act which eventually leads to the creation of the Federal Reserve Banking System. (*not to be confused with the 1980s adult film The Federal Spanking System. The two are totally unrelated)

Wuss’up This Week: Everyday reports about or economy are released into the wild, and how those reports are interpreted can sway interest rates in either direction. Today we’ve got Existing Home Sales, tomorrow Durable Goods, and Jobless Claims, and on Friday New Home Sales. Usually, anything positive will raise (the already rising) interest rates, and anything negative will help keep them low. And where are rates, you ask?

Today’s rates are around 4.125% for a 30-year fixed, with ARM rates about a half a point lower. As usual, rates will vary based on type of home, equity in the home, credit score, and if you can make juggling trick shots

Don’t Forget to Remember: Any purchase or refinance loan over $240k I will waive ALL lender fees – a $1,050 savings! Grab yourself a cup of instant karma and tell any friends, family, coworkers, or fans of candy canes 

Christmas Quote of the Day 2: My Secret Santa at work just gave me a pregnancy test, so clearly my antics at the office Christmas party didn’t go unnoticed.” – @SaraThomas84

Timeout for Trivia: Congrats to those who last week guessed James Cameron last week. Want to be entered into a drawing to win a Tom Hanks T.Hanks Thank You Card? Simply email me the answer to this week’s Who Am I? question. Good luck: “Yesterday I turned 33 but had my party earlier this year which started at the grocery store. You would think from the title of my breakout movie in 2007 that it was horrible but it grossed $170 million! Since then I’ve been in a lot of movies, and I’m a pretty high-paid actor –  but took the minimum salary ($60k) to get a role in the Scorsese film that ironically was about a lot of money.

Barry will be here – but I’m giving the blog a vacation. Wishing everyone Happy Holidays, and a Happy Healthy New Year. See y’all back here January 4th. (*don’t know why I said ‘y’all’, I’m not southern. That was so weird…)

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