Bad Songs, Dangerous Rates, and Lucky Charms!
Danger Quote of the Day: “The world is a dangerous place to live; not because of the people who are evil, but because of the people who don’t do anything about it.” – Albert Einstein
This Week in Economic History: It was on August 21st, 1987 the six year bull market that the NYSE had enjoyed reached its height by topping out at 2772.4 points. In the next two months the Dow Jones would lose over 500 points. (*I’d like to think this downward spiral was due to the # 1 song at the time – Luka, by Suzanne Vega.)
Wuss’up This Week: Every day reports about our economy are released into the wild that can sway interest rates in either direction. Today we’ve got New Home Sales (610k expected), tomorrow Jobless Claims, and on Friday our friend and Fed Chief Janet “quit yer” Yellen will be speaking about financial stability. If these reports are good for the economy rates will trend up, and vice-versa if the numbers come out poorly.
Interest Rates continue their torrid pace of doing absolutely…nothing. A 30-year fixed remains in the high-3s/low-4s, with ARM rates about a half a point lower. As usual rates will vary based type of home, equity in the home, your credit score, and if you want to know more about the movie The Sixth Sense.
Don’t Forget to Remember: Any purchase or refinance loan over $240k I will waive HALF the lender fees – an $895 savings! Grab yourself a cup of instant karma and pass this info onto any friends, family, coworkers, coslackers, or people who shop at the 50 cent store.
Danger Quote of the Day 2: “I don’t understand why the cops say a suspect is ‘Armed and Dangerous.’ Why is that “dangerous” part in there? What else are they going to say? ‘The suspect is armed and actually pretty chill.’” – Tim Ross
Timeout for Trivia: Congrats to those who guessed Steve Carell last week. Want to be entered into a drawing to win a Giant Bag of Lucky Charms Marshmallows? (yes, this is the greatest prize I’ve ever offered!!!!) Simply email me the answer to this week’s Who Am I? question. Good luck: “It was on this date in 2013 that a stalker I had a restraining order against was found in the pool house at my mansion. That’s the downside to being famous and clearly the low point of my personal life. (*Low Point would the title of the book if I wrote about it, and yes – that’s a play on words). Although professionally I may have hit bottom when I starred with my fiancé in a romantic comedy that is considered one of the worst films of all time. My career started as a dancer on a show that was on TV in 1991 – had it been in the 1950s it would not have been in black and white. Ten years later I became the first woman to have a number one album and number one film in the same week.”