“You should’ve seen your face!”
Face Quote of the Day: “I’ve never seen a smiling face that was not beautiful.” – Author Unknown
Interest Rate Update: Rates were having a decent week last week until Fed Official Charles Plosser spoke in New York about how the Fed needs to start raising interest rates. After he said this the mortgage bonds got hammered, which forced rates up. I will tell Mr. Plosser what my 8th grade teacher told me almost daily: “You need to keep your big mouth shut!” (I get it, though. Inflation needs to be held in check and that’s one way to do it.) This week, rates for a 30-year fixed hover in the high 4s/ low 5s. Rates will vary based on type of home, equity in the home, credit score, and odds of the Cubs winning the World Series this year (which currently stands at 35/1).
Wuss’up This Week: The report that can most affect rates this week is Friday’s Employment Report, which is expected to show unemployment dipping to 8.9%. If that number increases the rates will go down, and if that number shrinks further then rates will go up. Also on Friday, Fannie Mae and Freddie Mac will release their new 60-year fixed interest rates that are intended to keep monthly payments down. Crazy, right? (Did I get you? That was an early April Fool’s joke). But…
Didja Know… In March 2005, several banks rolled out a 50-year fixed interest rate in California. Predictably, the rate lasted about 49 years less than the banks expected.
Face Quote of the Day 2: “You should’ve seen her face. It was the exact same look my father gave me when I told him I wanted to be a ventriloquist.” – George Costanza (Jason Alexander), Seinfeld (1996)
Timeout for Trivia: Congrats to all of you who correctly guessed Martin Short as last week’s answer. Want to be entered into a drawing to win a box of Lucky Charms? Simply email me the answer to this week’s “Who Am I?” question. Good luck: “Today I turn 54. I was born and raised in New York, which is where I developed my love of stand-up comedy. In fact, in my first movie in the early 80s I played a comedian (and if I’m playing the Kevin Bacon game, I’m winning). Two rumors to clear up: I am the only father to my kids, they don’t have two dads. And my wife is not jealous of Helen even though she is crazy for me.”