Tricks and Treats

Halloween Quote of the Day: “This Halloween the most popular mask is the Arnold Schwarzenegger mask. And the best part? With a mouth full of candy you will sound just like him.” – Conan O’Brien.

Two weeks ago interest rates started going up. Last week they started to move back down at a turtle’s pace. Why? Moody’s downgraded five Spanish regions and the entire nation’s gross domestic product. (Coincidentally in high school Moody’s downgraded my Spanish final grade three years in row). Remember: rates move down on bad news.

This week will be crucial for interest rates as a number of economic indicators are released. The biggies: Today we’ve got Q3 Employment Cost Index (this is a measure of wage inflation). Tomorrow, Weekly Jobless Claims (expected at 367k) and Friday’s Employment Report for October (expected payrolls + 108k, unemployment rate at 7.8%). Many say this single report can swing the whole election. Personally, I lost interest in politics when I was elected Treasurer in 8th grade over Allie Liu, who was so good with numbers she was probably working for NASA back then.

…And rates are still beautiful, Mortgage Fans. A 30-yr fixed remains in the mid-3s with ARM rates about a point lower. Don’t forget to tell everyone you like that for any purchase or refinance loan over $240k I will waive all lender fees (a $1,295 savings!).

Halloween Quote of the Day 2:“Hold on, man! We don’t go anywhere with ‘scary’, ‘spooky’, ‘haunted’, or ‘forbidden’ in the title.” – Shaggy to Scooby-Doo (episode: “Which Witch is Which,” 1969)

Timeout for Trivia: Congrats to those who last week answered Ryan Reynolds. Want to be entered into a drawing to win 1/2 the candy my kids come home with tonight? Simply email me the answer to this week’s “Who Am I?” question. Good luck: “Yesterday I turned 67. You’d think being born a day before Halloween would make Halloween my favorite scary movie. But if you were to call me on the phone and ask, “What’s your favorite scary movie?” you’d already know the answer to that question. Yeah, I died in that 1996 fright-fest, which means I couldn’t star in or make money on any sequels. That’s okay, because Roger Ebert gave those sequels the thumbs-down…which is something you’ve never seen me do! Unlike other successful Hollywood actors my marriage has been intact since 1978, and my wife – my biggest fan – will tell you I’ve never jumped the shark.”

Thinking of our friends on the East Coast. Hang in there guys.

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