Seeing Flat Rates, Pennies, and Mighty Mouse!
Seeing Quote of the Day: “My spirit has ways of seeing that my eyes cannot comprehend.” – Philippe Benichou
Did’ja Know: Benjamin Franklin designed the first US penny in 1787, and instead of E Pluribus Unum it was emblazoned with the motto: MIND YOUR BUSINESS. (*sounds like he consulted with my grandmother on that one).
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 Consumer Price Index Numbers (expected: 0.1%), tomorrow Weekly Jobless Claims (expected: 227k), and on Friday Retail Sales (*this report should show higher numbers because I just bought a 3-pack of Rogaine and new socks). If these reports come in strong for the economy you can expect rates to tick up, and vice-versa if the numbers disappoint.
What do interest rates have in common with chocolate chip pancakes? Absolutely nothing, but I needed an interesting hook for this paragraph. (*actually, maybe both remain relatively flat?) Today you’ll find a 30-year fixed jumbo rate (that’s for any loan over $484k) in the low-4s, and for conforming loans (under $484k) in the mid-to-upper 4s. Adjustable rate mortgages on both ends remain anywhere from .25-.50% lower. As usual rates will vary based on type of home, equity in the home, your credit score, and how much you know about the Beatles’ Ed Sullivan debut.
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 onto any friends, family, coworkers, or people that like funny wildlife photos that can use this gift.
Seeing Quote of the Day 2: “There’s no way witnessing the birth of your child is better than seeing your luggage come out first on the baggage carousel.” – @DamienFahey
Timeout for Trivia: Congrats to those who last week guessed Kevin James. Want to be entered into a drawing to win a Mighty Mouse T-shirt? Simply email me the answer to this week’s Who Am I? question. Good luck: “It’s my birthday on Saturday but when you think of me you’ll think drinks instead of cake. Just don’t think of me as something in your freezer – that’s a different dude. Hey, do you remember me in the movie Breakin’ (1984) and its sequel Breakin’ 2: Electric Boogaloo (1985)? No? Me neither because I was on a lot of drugs back then. I starred in better movies after that, and have had a long-running gig on an TV legal/crime drama. And speaking of drama, who can ever forget my feud with LL Cool J back in the late 80s/early 90s. It all started when he claimed to be the ’baddest rapper in the history of rap itself.’”