You can’t refinance a house of cupcakes even though Septmber is National Refi Month
Sept 1, 2010
Fate Quote of the Day: “Fate is for those too weak to determine their own destiny.” – Author unknown (got this in a fortune cookie last night!)
Did’ja Know: September is National Refinance Month. I just made that up but it should be. Rates are in the low to mid 4’s for a 30yr fixed, and about a point lower on ARMS. Jumbo rates have rallied too (those are rates for any loan over 417k). Don’t forget any loan over 240k I will refinance for free! Let your friends, family, and coworkers know about that special.
Wuss’up This Week: The most productive thing I ever did in college had nothing to do with classes or homework. On a rainy Saturday my roommate and I spent the entire day building a house out of over 2,000 Hostess Cupcakes and Ho-Hos. It took 9 hours to build and one minute to knock down. Today’s Productivity Report works almost on the same principal. Productivity is the rate at which goods and services are produced. It is most commonly defined in terms of labor; and labor costs represent about two thirds of the value of the output produced. Compared to last month the Productivity Report is expected to show a decrease of 1.5%. An improvement may lead to lower mortgage rates. Also, on Friday the Employment Report is released. It’s expected to show a 9.6% unemployment rate. Anything higher than that number will lead to lower rates.
Fate Quote of the Day 2: “Of all the Basic Applied Economic Principles of Capitalism in the Post-Industrial Era Seminars in the world, you had to walk into mine.” – Alex P Keaton (Michael J Fox), Family Ties (1984).
Timeout for Trivia: Congrats to all who came up with Paul “Pee Wee” Reubens as last week’s answer. Want to be entered into a drawing to win really cool stuff? Simply email me the answer to this week’s Who Am I? question. Good luck: “In two days I turn 46. I’ve found a lot of success as a movie actor even though the writer of this blog thinks I’m overrated. When I was 25 I made a movie that probably wouldn’t be made today because cell phones have eliminated most phone booths. The legendary comedian I starred with in that movie died two years ago. When I was 26 I made a cop and robber movie that took place in banks and oceans. My costar in that flick (he played the older brother to a brat-packer in a hockey movie) died last year. When I was 30 I starred in a movie with a great actor (he played a drunk in a basketball movie once) who just died a few months ago. With all these people dying you’d think I would slow down and smell the roses. Forget it – I won’t go below 50 MPH.”