Stable Rates, Best Quotes, and Sour Patch in Space
Best Quote of the Day: “My life motto is ‘Do my best, so that I can’t blame myself for anything.’” – Magdalena Neuner
Today in Economic History: It was on this day back in 1893 the Philadelphia and Reading Railroad Company goes into receivership with debts of more than $125 million. A total of seventy-four railroad companies would go bankrupt in 1893, and it was a taste of what was to come financially for our nation in the future. (interesting side note: in the game of Monopoly Reading Railroad is the 4th most landed on property)
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 Housing Starts, tomorrow Weekly Jobless Claims, and on Friday nothing. Nothing, you say?! That’s right, Mortgage Fans, a rare day off to spend your free time learning how to fold a shirt in under two-seconds.
Interest rates remain fairly stable the last couple of weeks. A 30-year fixed conforming loan (that’s any loan at $484k or less) can be found in the mid-to-upper 4s, and Jumbo 30-year fixed rates (over $484k) are in the low-4s. You’ll find adjustable rate mortgages 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’ve ever wondered how much space a quadrillion sour patch kids would take up.
Don’t Forget to Remember: Any purchase or refinance loan that closes with me between now and March 31st will get a free appraisal credit ($450 value). Grab yourself a cup of instant karma and pass my info along to any friends, family, coworkers, co-slackers, and anyone curious about state population growth since 1900 that can use this gift.
Best Quote of the Day 2: “The best person to get thrown in jail with would have to be the Kool-Aid Man.” – @iSubsisting
Timeout for Trivia: Congrats to those who last week guessed Ice-T. Want to be entered into a drawing to win a Reese’s Candy Bouquet? Simply email me the answer to this week’s Who Am I? question. Good luck: “What’s a girl like me going to do on her birthday? Maybe celebrate by singing some of my favorite hits. I like the one released in 2006 – but don’t get it confused with an Abba song of the same name, and don’t think it’s about tainted love because it’s not. In 2007 one of my other favorite songs – one that makes you think of a rainy day – topped the charts in a number of different countries. Controversy surrounded my 2019 hit about a certain type of fetish, but in no way does that good pain condone the bad pain inflicted on me by my 2009 boyfriend.”