Ice Cream Quote of the Day:“Never trust a skinny ice cream man.” – Ben Cohen
January was not the best month for interest rates. The last eight business days saw rates rise .25-.50% Huh? How does that happen? Very simply, the better the economy gets the higher the rates go. We’ve seen some excellent numbers in the real estate market that we haven’t seen in years. So while I am excited about that I am nervous about rates…
Wuss’up This Week: This is a pretty quiet week for economic reports that can impact rates. Tomorrow we have Weekly Jobless Claims (expected at 371k) and Preliminary Q4 Productivity (expected up 0.7%). The PQP is a measure of output per hour. Um, if it’s measuring my hourly productivity it’s gonna come in low, especially since I just spent an hour reading up on this guy! Rest in peace, Andre. You were a true hero to the world.
While interest rates are up they are still so beautiful, Mortgage Fans. I’m not kidding. Anything below 4% is a gift from the rate gods. 30-year fixed remains in the mid-3s while ARM rates are about a point lower. Please remember to tell any friends, family, coworkers, and people that give their dogs bad haircuts that for any loan over $240k I will waive all lender fees. This is a $1,295 savings!
Note to anyone that sees me today: Either the dry cleaners shrunk my pants or I am getting taller. It will make me feel a lot better if you think – like me – that I am growing.
Ice Cream Quote of the Day 2: “If a mass murderer on death row ordered a Klondike Bar for his last meal I bet it would explain a lot.” – Danny Zuker (@dannyzuker)
207 days until the NFL season starts…I’m already in withdrawal.
Timeout for Trivia: Congrats to those who guessed Christian Bale last week. Want to be entered into a drawing to win a Petco 2-story hamster house? Simply email me the answer to this week’s “Who Am I?” question. Good luck: “Tomorrow I turn 48. I was known as one of the bad boys of SNL (along with Farley, Sandler, Spade, and Schneider). This blog writer thinks the other thing we have in common is that we all make horrible movies. Don’t let that throw you, ‘cause I’m a funny dude. NBA players like Penny Hardaway find me funny, HBO finds me funny, and the Golden Globes found my sitcom (the exact opposite of Romano’s) funny.”