The Big Tease
Flirting Quote of the Day:“One of the best parts of growing older? You can flirt all you like since you’ve become harmless.” – Liz Smith.
Last week I gained 3 pounds, but through the magical power of food poisoning I lost it over the weekend. Sounds just like interest rates last week. They pushed higher as the euro zone moved to solidify bailout measures (side note: I think it would be cool if Kenny Loggins changed his song from “Danger Zone” to “Euro Zone” when he performs overseas). Luckily, the markets reacted positively to the Fed’s announcement of QE3 which helped erase the earlier spike in rates.
This week is a quiet week for economic reports. Tomorrow we have Weekly Jobless Claims (expected at 384k) and Leading Economic Indicators (this is an indication of future economic activity). A reminder: reports that are good for the economy are bad for rates, and vice-versa. And where the heck are interest rates…?
Interest Rate Update: 30-yr fixed rates remain in the mid-3s with ARM rates about a point lower. Don’t forget that for any loan over $240k I will waive all lender fees – a $1,295 savings!!
Flirting Quote of the Day 2: “It is very hard to flirt with a girl at the drugstore who is buying a pregnancy test. I see that now.” – Rob Huebel (actor/comedian)
Timeout for Trivia: Congrats to those of you who guessed Amy Winehouse as last week’s answer. Want to be entered into a drawing to win a Beatles belt buckle? Simply email me the answer to this week’s “Who Am I?” question. Good luck: “I turn 65 in two days. I have a daughter I named Naomi (not Carrie, Christine, or Dolores as some have joked). Other people made these lines famous, but I’m ultimately responsible for ‘Heeere’s Johnny!’; ‘Get busy livin’ or get busy dyin’; and ‘I’m your number one fan.'”