Tricks Are For Kids
Trick Quote of the Day: “Some people are so busy learning the tricks of the trade that they never learn the trade.” – Vernon Law
Anyone who can Etch-a-Sketch their life is always a hero of mine.
Here are some cool facts about ATMs: In Brazil some ATMs use palm and wrist vein biometrics to identify users. In India you can make devotional contributions or religious donations through ATMs that large banks have installed in many temples. (I don’t see how this works better than passing a plate around. Those ATMs are too heavy to pass around!)
You want to know what ignited the rates rising so rapidly? It was the minutes released by the Fed last month from their meeting. In those minutes it basically said, “Y’all better prepare for us to stop buying mortgage-backed securities because the economy is getting better.” (I made up the ‘Y’all’ part – not sure if Bernanke spoke in a southern drawl). Well guess what we’ve got today, Mortgage Fans. That’s right – minutes from the Fed meeting being released at 1:15 CST. Those minutes will be analyzed to death, and what is said in those minutes can drastically sway interest rates in either direction.
Interest rates are still fantastic-crappy. That’s about the best description I can give to rates that are historically low but not in the 3s. A 30-yr fixed remains in the low 4s with ARM rates about a point lower. Don’t forget that for any loan over $240k I will waive all lender fees – a $1,295 savings – nothing crappy about that!
Trick Quote of the Day 2:“The greatest trick the devil ever pulled was convincing the world that Subway is healthy.” – Cliff Bleszinski (@therealcliffyb)
Timeout for Trivia: Congrats to those who correctly guessed Ally Sheedy last week. Want to be entered into a drawing to win a 64-pack of Play-Doh? Simply email me the answer to this week’s “Who Am I?” question. Good luck: “Tomorrow I turn 64. One of the best compliments I ever received was being called the ‘black Barry Manilow’ (or is that an insult…?) You might know me from Eddie Murphy (as Buckwheat) singing my counting song, or maybe from my own song about dancing anywhere but on the floor, or perhaps from my adopted daughter – who, despite what tabloids say about her – leads a simple life.”