Screaming for Lower Rates and better Credit Cards

Screaming Quote of the Day: “When I die, I want to die like my grandfather who died peacefully in his sleep. Not screaming like all the passengers in his car.” – Will Rogers

This Week in Economic History: It was on this date in 1922 that Congress negotiated with England, France, and Italy to  pay back the $11.5 billion they owed us after WWI. The billions were to be paid back over sixty-two years at 2% interest! That’s a reminder for me to get those countries to re-negotiate my Visa card interest rate. Speaking of credit cards the current debt held by US households increased to a record of $13.51 trillion in the 3rd quarter of last year. According to the Federal Reserve Bank of NY that amount is 21% higher than the total in the 3rd quarter of 2008 which was the heart of the financial crisis. Maybe it’s time to learn 25 interesting facts about credit cards.

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. For those that don’t like rate-drama it’s a pretty mild week. Today we’ve got a 10-year Note Auction, tomorrow a 30-year Bond Auction, and on Friday the Wholesale Inventories Report (expected up 0.5%). If the bonds do well you may see rates trickle down so feel free to join that auction!

Interest rates continue this year where they left off. You’ll find a conforming 30yr fixed (that’s any loan at $484k or less) in the mid-to-upper 4s, and a Jumbo 30yr fixed (anything over $484k) in the low-4s. Adjustable rate mortgages are anywhere from .25-.50% less. As usual rates will vary based on type of home, equity in the home, your credit score, and if you know interesting facts about Rosa Parks.

Don’t Forget to Remember: Any purchase or refinance loan that closes with me between now and March 31st I will waive the $450 appraisal fee. Grab yourself a cup of instant karma and pass my info along to any friends, family, coworkers, or 30-year old guys that can use this gift.

Screaming Quote of the Day 2: “How exactly is carrying a screaming two year old different from playing the bagpipes?” – Jim Gaffigan

Timeout for Trivia: Congrats to those who last week guessed Phil Collins. Want to be entered into a drawing to win KFC Fried Chicken Scented Fire Logs? Simply email me the answer to this week’s Who Am I? question. Good luck: “It was this week back in 2009 my movie fell to  # 2 at the box office after being number # 1 for a couple weeks. I made a sequel to that movie and a sequel to one whose title is what a little kid might call an adult. Both of those movies were so bad it won me some Golden Rasberry Awards, so maybe we should segue (not Segway) to my TV career where I’ve had more success. Can I yell from a cruise ship, “I’m the King of the World!” No, but I was a king for almost ten years. You might remember my costar in that show – she’s a smart woman but I wouldn’t call her a scientist (bad joke, bad choice of words – I’m sorry).”

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