Gold, Rates, and Slo-Mo Water Balloons
Golden Quote of the Day: “You can’t sit there and wait for people to give you that golden dream. You’ve got to get out there and make it happen for yourself.” – Diana Ross (*interesting side trivia: I fell asleep at her concert in 1994)
Today in Economic History: It was on this date in 1946 that President Truman created the Office of Economic Stabilization (OES). Truman said this office would essentially be a watchdog for inflation as the nation shifted from a war-time economy to a peace-time economy. (*no word on if McGruff was used to help promote the new office).
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 Existing Home Sales, tomorrow Jobless Claims, and nothing on Friday – feel free to call in sick and watch cranes drop water balloons in slow motion.
Interest rates remain higher than what we’re used to, Mortgage Fans – but they are still historically low. Don’t make me remind you how excited my wife and I were in ’98 when we bought our first home and got a rate below 8.0%. Today you’ll find a 30-year fixed in the low-4s with adjustable rate mortgages a little bit lower. As usual rates will vary based on credit score, type of home, equity in the home, and just how risky the home actually is.
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, or people practicing random acts of kindness that can use this gift.
Golden Quote of the Day 2: “The cancelation of the Golden Girls must have been devastating to the shoulder pad industry.” – @AndyRichter
Timeout for Trivia: Congrats to those who guessed Anthony Hopkins last week. Want to be entered into a drawing to win a Solar Edison Action Figure? Simply email me the answer to this week’s Who Am I? question. Good luck: “It’s my birthday today and if I go to a restaurant to celebrate I’ll take more than four people because the joke from the host/hostess can get annoying. My career started on the Disney channel from 1989-1991, but you’ll remember me from my drama that ran from 1995-1999 – my two male co-stars were a couple of animals! During that time I also starred in a summer suspense flick where the killer could also be Peter Pan’s enemy or the 70s band that sang Sexy Eyes.”