Unusual Homes, Bad Water Parks, and Rising Rates
Awkward Quote of the Day: “My life is just a series of awkward and humiliating moments separated by snacks.” – Author Unkown
This Week in Economic History: It was May 20th, 1985 that the New York Stock Exchange broke 1,300 for the first time ever as the Dow gained 19.54 points to close at 1,304.88. (*This just in: I had no money in May 1985 but it was around this time that I sold my blue Members Only jacket for $6 and a Taco Bell coupon which is still more money than I’ve ever made in the stock market).
Wuss’up This Week: Every day reports about our economy are released into the wild, and it’s these reports that can sway interest rates in either direction. Today we’ve got New Home Sales (699k expected), tomorrow Weekly Jobless Claims, Existing Home Sales (5.65M expected), My Birthday (52 expected), and on Friday Durable Goods Orders (up 2.8% expected). Any numbers that come in better than expected you’ll see interest rates pop up, and vice-versa if they come in bad for the economy.
Interest rates are now hovering in the mid-to-upper 4s for a 30yr fixed, with adjustable rate mortgages slightly less. As usual, rates will vary based on your credit score, type of home, equity in the home, and if your home is unusual.
Don’t Forget to Remember: Any purchase or refinance loan between now and July 31st I will give a $500 credit towards closing costs. Grab yourself a cup of instant karma and pass this info along to any friends, family, coworkers, or people that like the worst water park ride ever that can use this gift.
Awkward Quote of the Day 2: “This v-neck is literally the most awkward pair of shorts I’ve ever worn.” – @9to5Life
Timeout for Trivia: Congrats to those of you who last week who guessed Tori Spelling. Want to be entered into a drawing to win a Flying Slingshot Monkey? Simply email me the answer to this week’s Who Am I? question. Good luck: “Happy birthday to me today, and so much to be thankful for. Thank you to the Cleveland Cavaliers for finally winning a championship a couple years ago. Thank you to ABC who aired my sitcom in the mid-90s for 9 years (remember my coworker’s blue eyeshadow?). And finally thank you to a guy who beat up an SNL alum at a golf outing, and then gave his blessing to let me take his place on daytime TV.”