The Big Bucks

Money Quote of the Day: “The mint makes it first, it is up to you to make it last.” – Evan Esar

A BIG happy birthday shout out to the king of marshmallow cereals – Lucky Charms turned 50 last week. In my opinion there is no cereal that can compete with Lucky…however, they also lead the league in horrible prizes. Click on the middle commercial (1972).

Wuss’up This Week: The lesson of the day is always this: The better the economy the worse the interest rates will be, and vice-versa (regarding vice-versa; here is a clip of the worst movie from the ’80s. Interesting side note – this came out three months before Big, which was one of the best movies from the ’80s). Reports come out daily on the economy that sometimes drive interest rates, and this week we have one of the biggest – January Employment, which will be released on Friday (expected at +128k, jobless rate at 6.7%). Before that we have two more employment reports starting with ADP Employment today and Weekly Jobless Claims tomorrow. Yesterday we had Barry’s Rogaine Report which showed some hair loss.

Interest rates took a little dip over the past few days. 30-year fixed rates remain in the low-to-mid 4s with ARM rates about a point lower. As usual rates vary on type of home, equity in the home, credit score, and your score on Seinfeld quizzes.

February is National Forward This Email to Someone Who Can Use It Month. Why would you want to forward it? To be a hero and let your friends know that for any purchase or refinance loan that is over $240k I will waive all lender fees (a $1,295 savings)!

On Sunday, a Pennsylvania groundhog told us we’d be getting six more weeks of winter. We may not have wanted to hear it, but it was honest feedback. Speaking of which, if I’ve ever worked with you on a mortgage loan and you’d like to give me your honest feedback in this five-minute survey you’ll be entered into a regular drawing to win a $100 Visa gift card!

Money Quote of the Day 2: “Twenty-seven dollars is probably the most money that’s ever been in a wallet with a chain attached to it.” – Guy Endore-Kaiser (@GuyEndoreKaiser)

Timeout for Trivia: Congrats to those who last week guessed the ’80s actor with the ’70s porn mustache, Tom Selleck. Want to be entered into a drawing to win a Princess Bride figurine?. Simply email me the answer to this week’s “Who Am I?” question. Good luck: “In two days I turn 49. In the early 1990s I was a cast member and one of the “Bad Boys” of SNL, but that gig got stale so in 1993 I quit and joined the cast of In Living Color…which was canceled a few months after I joined. In 2005 I was hired to host the Academy Awards, in hopes it would make it more edgy and lure younger viewers. During that gig I made fun of Jude Law, saying he was a “low-rent Tom Cruise,” to which Sean Penn and others took offense. I can laugh at myself because I am funny but you wouldn’t know it from the horrible, horrible comedy movies I’ve starred in. Maybe with my name I should’ve starred in The Flintstones.”

Extra-special shout-out to Amy Pritchard for linking to my blog from the new Hey Mortgage Fans Facebook page! Amy called me “the most down to earth lender in the game.” Thanks, Amy! To see what else I’m sharing on Facebook, just click Like.

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