Teaching you about Higher Rates and Required Hours of Sleep
Teaching Quote of the Day: Teaching is the one profession that creates all other professions.” – Author Unknown
This Day in Economic History: On this day back in 1960 the U.S Government decided to stop exports to Cuba, signaling a surge in efforts to weaken Fidel Castro’s communist government. And uh, speaking of communists would you ever date 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 Housing Starts (expected: 1,285k) as well as the minutes from the last Fed meeting that will be released at 1:00pm and analyzed to death. Tomorrow we’ve got Weekly Jobless Claims (expected: 212k), and on Friday Existing Home Sales. Any numbers that are good for the economy will drive rates up, and vice-versa if the numbers disappoint. (like my high school ACT scores, although I don’t think they impacted rates).
Interest rates are at their high-point for the year – you’re looking at around 5.0% for a 30-year fixed with adjustable rate mortgages anywhere from .25-.625% lower. As usual rates will vary based on type of home, equity in the home, your credit score, and how much sleep you require.
Don’t Forget to Remember: Any purchase or refinance loan that closes with me between now and Thanksgiving I will waive $500 in lender fees. Grab yourself a cup of instant karma and pass my info along to any friends, family, coworkers, or people that like dictionary facts that can use this gift!
Teaching Quote of the Day 2: “Play-Doh is a wonderful way to teach your children that colorful things will lie to you about their taste.” – @homeskooledkid
Timeout for Trivia: Congrats to those who last week guessed Sting. Want to be entered into a drawing to win a Maestro Baton Toothpick Dispenser? Simply email me the answer to this week’s Who Am I? question. Good luck: “Tomorrow is my birthday. How old am I? Well, when I was 18 I graduated high school, and then I was back in high school from the ages 19-21. I’m a handsome guy and I get that way from using gel, not the other thing that women use which is also the name of a movie I was in (2007). Ten years later you saw me on the beach with a rock by my side.”