Steps, Rates, and Cereal!
Step Quote of the Day: “You don’t have to see the whole staircase, just take the first step.” – Dr. Martin Luther King
Today in Economic History: It was on this day back in 1964 that the Ford Motor Company unveiled its newest model – a sports car called the Mustang. Many years later the Mustang Shelby GT500 Super Snake sold for $2.2 million dollars. (*side note: that’s $2,190,000 more than I sold my first car for – an ‘81 Toyota Corolla).
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 Beige Book coming out which is a summary of economic activity & conditions issued by the central bank of the Federal Reserve (*side note: I think there would be more interest in this if they titled it 50 Shades of Beige), tomorrow Weekly Jobless Claims, and on Friday Housing Starts. If these numbers come in better than expected you’ll see interest rates tick up, and vice-versa if the numbers disappoint.
Interest rates remain low with a jumbo 30-yr fixed (*that’s any loan over $484k) in the low-4s, and conforming 30yr fixed (*any loan under $484k) in the low-to-mid 4s. Adjustable rate mortgages can be found anywhere from .125-.375% less than the 30yr fixed. As usual rates will vary based on type of home, equity in the home, your credit score, and if you start your day with a bowl of Bob Ross cereal.
Don’t Forget to Remember: Any purchase or refinance loan closing with me between now and May 31st I will waive the appraisal fee (a $450 savings)! Grab yourself a cup of instant karma and pass this blog onto any friends, family, coworkers, or anyone who is afraid of technology.
Step Quote of the Day 2: “Ironically it’s exactly 12 steps from my car to the liquor store.” – @swtpmkn68
Timeout for Trivia: Congrats to those who guessed Emma Stone last week. Want to be entered into a drawing to win Grass Sandals? Simply email me the answer to this week’s Who Am I? question. Good luck: “It’s my birthday today so please note I was born in April, not June, oh – you knew that, right? The goal of this question is to guess my name, but you’d have a hard time doing that if you watched my action series that ran on ABC from 2001-2006. Maybe you’ll know me from my 12-year marriage to an accountant. Just kidding – an actor! Speaking of actors, if you’re playing the Kevin Bacon game with commercials you’d see I’m zero steps away from a Pulp Fiction actor.”