Smelly Fruit, Lower Rates, and Being Ignorant
Ignorance Quote of the Day: “The highest form of ignorance is when you reject something you don’t know anything about.” – Wayne Dyer (*I don’t know who this guy is but $5 says he wrote this quote after asking a girl out on a date and getting turned down)
Today in Economic History: It was on this day back in 1900 that Charles Schwab brokered a deal bringing companies of J.P. Morgan and Andrew Carnegie together to form U.S. Steel. (*very similar to when LeBron and Bosh joined Dwayne Wade in Miami).
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. Today we’ve got CPI (Consumer Price Index – a measure of inflation at the consumer level), tomorrow Weekly Jobless Claims, and on Friday Retail Sales and Capacity Utilization. If these reports come in good for the economy you may see rates trickle up, and vice-versa if the numbers disappoint.
Interest rates dipped recently and you’ll find a 30yr fixed rate in the mid-to-upper 4s with adjustable rate mortgages anywhere from .25-.50% lower. As usual rates will vary based on type of home, equity in the home, your credit score, and if you’ve eaten the smelliest fruit in existence.
Don’t Forget to Remember: Any purchase or refinance loan closing between now and February 1st qualify for a free appraisal ($450 value). Grab yourself a cup of instant karma and pass my info along to any friends, family, coworkers, or people that know how to use their time wisely that can use this gift!
Ignorance Quote of the Day 2: “How long do you have to be ignorant before you start experiencing bliss?” – @imabell
Timeout for Trivia: Congrats to those of you who last week guessed Walt Disney. Want to be entered into a drawing to win a Christmas Tree Costume? Simply email me the answer to this week’s Who Am I? question. Good luck: “Sing me happy birthday tomorrow, or I guess I can sing it too. Besides singing I’m also a helluva song writer. Rolling Stone Magazine named me in their 100 Greatest Songwriters of All Time list in 2015. A year before that list came out I wrote a song that hit number one and its title is something dogs like to do after taking baths. In 2009 I was popular – I had songs in in the Top 10 of the Billboard Hot 100 but what sent me to the peak of popularity was something negative that happened to me out west (or was it something the west did to me?).”
And a Happy 2nd Birthday shout out to my main man Slater! I look forward to helping you with your first mortgage in 2044 (give or take).