The King, Rates, and What Was Honest Abe Holding?
Elvis Quote of the Day: “Nothing really affected me until I heard Elvis. If there hadn’t been an Elvis, there wouldn’t have been a Beatles.” – John Lennon
Today in Economic History: It was on this day in 1862 the US printed and distributed paper money (calling it ‘greenbacks’) which created a lot of controversy. The greenbacks were not, as had been the standard, directly backed by gold, causing many conservatives to question its legitimacy.
Wuss’up This Week: Every day reports are released about the economy that can sway interest rates in either direction. Today we’ve got Existing Home Sales, tomorrow Jobless Claims, and on Friday Durable Goods Orders (this is a report on items that last more than three years – cars, refrigerators, and the world’s biggest bottle of Heinz ketchup that I bought at Costco last year).
Interest rates for a 30-year fixed remain in the low-4s with ARM rates about a half a point lower. As usual, rates will vary based on type of home, equity in the home, your credit score, and if you are fascinated by the items in Lincoln’s pocket the day he was shot. (*note: if you’re curious what’s in my pockets today I just cleaned out my coat: $3.23, an unused Kleenex, an unpaid parking ticket, and 3 Skittles).
Don’t Forget to Remember: Any purchase or refinance loan over $240k I will waive HALF of the lender fees – a $795 savings! Grab yourself a cup of instant karma and pass this info onto any friends, family, coworkers, or people wanting to know 23 strange movie facts
Elvis Quote of the Day 2: “In the year 1973 there were 2,000 Elvis impersonators. By 1993, over 30,000. At this rate by 2050 – 1 out of every 3 people will be Elvis.” – @dakami
Timeout for Trivia: Congrats to those who guessed Bob Segar last week. Want to be entered into a drawing to win Astronaut Ice Cream? Simply email me the answer to this week’s Who Am I? question. Good luck: “Yes, it’s my birthday today, and no – I was not named after a candy bar. You might’ve seen me on TV – I played the sister to one of the Friends – but mostly you remember me from the movies. I had a black & white & color one in ’98 – and speaking of color – I had a couple (2001 and 2003) that I didn’t have to dye my hair for. And I’ve had a couple walking movies – one with that word in the title, and the other without that word in the title but where I covered a lot of ground.”
My favorite oxymoron: Hey Mortgage Fans, next week I’ll be in Florida on a ‘working vacation’, which means you’ll still be able to reach me but the blog will be off next week, returning to your in-boxes on April 5th.