The Moon, The Rates, and Being Naked
Naked Quote of the Day: “My wife was afraid of the dark… then she saw me naked and now she’s afraid of the light.” – Rodney Dangerfield.
Today in Economic History: It was on this date in 1933 that the gold standard which directly linked the American dollar to its worth in gold, was abandoned during the Great Depression. Today, no currency in the world is redeemable for its worth in gold, as was once the standard. (*Note: as a kid our family handyman offered to leave me his front tooth in his will which was made of gold. This scared the hell out of me because it was then, as a ten-year-old boy, I realized my fear of germs outweighed my love of money.)
Wuss’up This Week: Every day reports about our economy are released which can sway interest rates in either direction. Pretty quiet week though – nothing today. Tomorrow Jobless Claims, and on Friday the Existing Home Sales report. I expect rates to stay at the level they are at for the next 1-2 weeks.
Interest rates remain fairly stable. A 30-year fixed is around 4% with ARM rates about a half a point lower. As usual, rates will vary based on type of home, equity in the home, credit score, and if you wonder who took the photo of the first man on the moon.
Don’t Forget to Remember: Any purchase or refinance loan over $240k I will waive HALF of the lender fees (an $895 savings!). Grab yourself a cup of instant karma and pass this info onto any friends, family, coworkers, co-slackers, and people who love mysteries that can use this break.
Naked Quote of the Day 2: “As I sit here naked in Hugh Jackman’s hotel room, it occurs to me that I might have mixed up my bucket list with my wife’s.” – @TheChrisAngel
Timeout for Trivia: Congrats to those who last week guessed Ed O’Neill. Want to be entered into a drawing to win a Bat-Signal Heat Activated Mug? Simply email me the answer to this week’s Who Am I? question. Good luck: “It’s my birthday today and you might remember my rise to prominence in 2000 for playing a character in the 70s (my character name will remind you of the Beatles). In that movie I was nominated for an Academy Award which would’ve been cool to win because my mom won one. And yeah, my dad is famous too – he’s been on Gilligan’s Island, and in the movies has played a hockey coach (2004), a fireman (1991), and in a horrible buddy cop film with Stallone.”