Bacon! Lower Rates! 8 Balls!

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Face Quote of the Day: “When you look fear in the face, you are able to say to yourself, ‘I lived through this horror. I can take the next thing that comes along.’” – Eleanor Roosevelt

Today in History: It was on this date in 1984 the U.S. Supreme Court ruled that cities have the right to display the Nativity scene as part of their Christmas display. (*Just an FYI – there are 264 shopping days left until Christmas.)

Possible Game Show Answer: The German word ‘kummerspeck’ refers to excess weight gained from emotional overeating. Its literal translation is ‘grief bacon.’ (*FYI – I’m on a seven-year grief bacon run.)

I’m just back from Mexico and under deadline to get this blog into my marketing department, so I will combine the next three mortgage sections into one. First, I’m excited to say rates are getting close to four-month lows – the Fannie Mae average has them at 6.82% for a 30yr fixed and 6.399% for a 15yr fixed. Two things to know there: The Fannie Mae average rates come with the borrowers paying .85 points to get to that number. I never encourage anyone to pay points to get a lower rate, especially when rates are predicted to drop over the next 6-24 months. (read: grab a lower rate on a refinance). Second, those are for conforming loans which is for any loan under $806k. Also note, rates will vary based on loan size, type of home, equity on the home, your credit score, if you’re a first-time homebuyer, and if you like random interesting photos. As for rates this week, they will depend on how the employment reports shape up as today we have the ADP Employment being released (expected:143k new jobs), tomorrow Jobless Claims, and on Friday the February Jobs Report (expected: 160k new jobs) along with the U.S. Unemployment Rate (expected: 4.1%). Finally, don’t forget to tell your friends, family, coworkers, and co-slackers that for any purchase loan that closes with me I will waive $450 in lender fees (and much more on refinances).

Face Quote of the Day 2: “Some people are like Slinkies, not really good for anything, but they still bring a smile to your face when you push them down a flight of stairs.” – Patricia Briggs

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Timeout for Trivia: Congrats to those who guessed Coldplay last week! Want to be entered into a drawing to win an 8 Ball Sweatshirt? Simply email me the answer to this weeks’ Who Am I? question. Good luck: “It’s my birthday today and I can’t believe how fast time flies. I starred in some early stuff but really gained mainstream recognition for a movie over 20 years ago that Snoop Dogg was in! That led to a furious and fast pace of new parts being offered to me, including two superhero movies in the 2000s that were not your typical ones (i.e. Spiderman, Batman, Iron Man). I feel like I’m a good actress but was nominated for the Golden Raspberry Worst Actress Award for my 2008 all-female comedy movie. That’s okay, you can make fun of me but don’t ever make fun of one of my costars unless you’re looking to get slapped! I’m crazy in love with my husband – also a successful actor, if you meet him you’ll say he’s a doll.”

The Adieu Mortgage Haiku:

Rates are like bacon

They are starting to sizzle

Eat up, Mortgage Fans!

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