Growing Up, Rates Up, and a Keebler Elf!
Growing up Quote of the Day: “Growing old is mandatory; growing up is optional.” – Chili Davis
This Week in Economic History: It was on November 12th, 1946 that the nation’s first drive-through bank was opened. This concept was created by the Exchange National Bank of Chicago which implemented 10 drive-through windows. (*I remember in 1988 going through the drive-through and asking the teller how to fix the $8 check I bounced to Domino’s Pizza. I was too embarrassed to face anyone at the bank in person so in a way the drive-through lane became my own personal confession booth.)
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. This week we’ve got the CPI Report (*Consumer Price Index), tomorrow the Weekly Jobless Claims and PPI (*producer price index), and on Friday Retail Sales – this should be up as I went to the mall last week and bought two pairs of new jeans. (*Note to Millennials: a mall is where people can go to buy clothes, see a movie, and eat in what’s called a ‘food court’).
Interest Rate Update: I know what you’re thinking, Mortgage Fans: “How come rates were so much lower only 30 days ago?” I don’t know. After 20 years in this business I can only tell you sometimes for really dumb reasons rates will go up or down. Here’s what I do know: rates are still beautiful as you’ll find a 30-year fixed today in the high-3s/low-4s with adjustable rate mortgages a hair lower.
Don’t Forget to Remember: Any purchase or refinance loan that closes with me between now and the end of the year I will waive $500 in closing costs! Grab yourself a cup of instant karma and pass my info along to any friends, family, coworkers, or Sesame Street fans that can use this gift.
Growing up Quote of the Day 2: “I have a lot of growing up to do. I realized that the other day inside my fort.” – Zach Galifianakis
Timeout for Trivia: Congrats to those of you who last week guessed Ethan Hawke. Want to be entered into a drawing to win a Keebler Elf T-shirt? Simply email me the answer to this week’s Who Am I? question. Good luck: “It’s my birthday today – yeeehaaa! Or wait, is there a better word to use to express my excitement? Lots to be excited about because I’m one of few people in the EGOT Club (winner of an Emmy, Grammy, Academy Award, and Tony Award). I also won a Golden Globe for my 1990 movie where my dear co-star – in 2009 – may have transformed into the film’s title. I’m straight but a big supporter of LGBT rights, maybe that’s why I got a nice endorsement from the person I replaced on my current show.”