There’s No Place Like Home, Low Rates, and 70’s Condos

Home Quote of the Day: “When you finally go back to your old home, you find it wasn’t the home you missed but your childhood.” –Sam Ewing

Did’ja Know: Last year the 3.5 billion people that made up the bottom 50% of the world held the same amount of wealth as the richest 62 people in the world. (*FYI – until I become one of those 62 people I’ll continue writing this blog.)

Wuss’up This Week: Reports about the economy are released daily, and these reports can sway interest rates in either direction. Today at 9:00 we have Fed Chief Janet Yellen speaking about the Super Bowl and the Bears’ chances of getting there next year. Also she’ll talk about rates and stuff. Tomorrow there will be a 30-year bond auction (these make great Valentine’s Day gifts – very romantic), and on Friday Consumer Sentiment.

Interest rates have rallied since the Fed raised them. Go figure! 30yr fixed rates remain in the high-3s with ARM rates about .50% lower. As usual rates will vary on credit score, type of home, equity in the home, and if the home has been untouched since the 1970’s.

Don’t forget to remember: Any purchase or refinance loan over $240k I will waive all lender fees – a $1,050 savings! Grab yourself a cup of instant karma and pass this info onto any friends, family, coworkers, or mothers with triplets that can use this gift.

Home Quote of the Day 2: “The French name for I Can’t Believe It’s Not Butter translates literally to False Butter Has Entered Our Home.” – @Fauzgyptian

Timeout for Trivia: Congrats to those who last week guessed Christie Brinkley. Want to be entered into a drawing to win Weiner Dog Salt & Pepper Shakers? Simply email me the answer to this week’s Who Am I? question. Good luck: “Tomorrow I turn 54. Before hitting it big I sang backup for the Stones and Michael Jackson. When did I hit it big? It was on a Tuesday night back in 1994. Yeah, plenty of hits, a great career, and not even sickness could stop me or my old boyfriend (who people say cheated on me, but no – he just cheated).”

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