Tightening The Belt
Diet Quote of the Day:“You know it’s time to diet when you push away from the table and the table moves.” – Author Unknown
Last week’s Employment Report pushed interest rates higher, as the unemployment report fell to 7.8% (it was expected to be 8.2%) and shocked the financial markets. Does this mean the economy is getting better or are less people just looking for work? Hard to say, and maybe a little bit of both. This week a few reports coming out may push rates in either direction. Today at 1:00 we have the Fed’s “50 Shades of” Beige Book, which is a report detailing current economic conditions across the country. Also today we have a 10-year Treasury Note Auction, and tomorrow we have a 30-year Treasury Bond Auction. It’s never too soon to think about your Christmas shopping and pick up some bonds. If there is a strong demand for bonds, rates will drop. I know what you’re thinking: “How does Barry plan on losing weight eating Lucky Charms for lunch, and where are interest rates headed?” I can answer one of those now…
Interest rates are hovering in the low to mid-3s for a 30-year fixed with ARM rates about a point lower. Don’t forget that rates are based on type of home, equity in the home, credit score, and who you call. If you’re calling yours truly don’t forget that I will waive all lender fees (a $1,295 savings!) for any purchase or refinance loan over $240k. Be somebody’s hero and pass this info on.
Diet Quote of the Day 2: “I donate blood for the most important reason; to lose some weight.” – Nicole Betz (comedian)
Timeout for Trivia: Congrats to those who guessed Susan Sarandon last week. Want to be entered into a drawing to win a DVD copy of The Karate Kid 3? Simply email me the answer to this week’s “Who Am I?” question. Good luck: “It was on this day in 1994 that the movie I was a supporting actor in was #1 at the box office (somebody should have bought me a gold watch to celebrate). I’m the 9th-highest grossing actor of all-time…with all this success I’ll just keep making more (but not “Moore”). Some of my favorite movies had me: heading to LA for Christmas (1988), playing a baby (1989), and heading to DC for Christmas in a sequel (1990). But the all-time best was helping Forrest Gump’s son see things differently (or did he help me?).”
I gave her my heart, she gave me a pen: Some fantastic pop-culture has come full circle.