Life Quote of the Day: “Life shrinks or expands in proportion to one’s courage.” – Anais Nin (*Last week my wife asked me to kill a spider, and according to this quote my life shrunk big-time and still hasn’t recovered).
Today in History: It was on this date in 1951 when the 22nd Amendment was added to the Constitution which limited the Presidency to two terms.
Possible Game Show Answer: A newborn giant panda is about the size of a stick of butter. (*I imagine it’s sticks of butter in these cookies I’m eating now that are making me look like a panda – and not the cute kind).
Wuss’up This Week: There’s a handful of reports coming out this week that can influence interest rates as today we have New Home Sales (expected: 674k), tomorrow Durable Goods Orders (expected: 1.9%), GDP (expected: 2.3%), and Pending Home Sales, then on Friday we’ve got Personal Income, Personal Spending, and four – count ‘em – four inflation reports. As you know inflation has been kryptonite to rates but if these reports show inflation is down then we’ll see rates rally.
Interest Rate Update: Interesting fact of the day: 73.3% of U.S. mortgage borrowers have an interest rate under 5%, me being one of them - but I do know that when rates were in the 7s (and almost 8% a year ago) it would be hard to give up a rate below 5%. Now though? The 6s aren’t so bad, and we saw a very tiny, tiny interest rate drop last week – let’s see if we can make it two weeks in a row. Today the conforming 30yr fixed rate is at 6.625% for loans at $250k or less, and upper-6s for loans at $251k-$806k. For Jumbo 30yr fixed rates (*that’s for any loan over $806k) they can also be found in the upper-6s, and for ARMs in the low-to-mid 6s. As usual rates will vary based on your credit score, if you’re a first time homebuyer, type of home, equity in the home, or if they home suffers from architectural fails.
Don’t Forget to Remember: Any purchase loan that closes with me I will waive $450 in lender fees (and much more on a refinance)! Grab yourself a cup of instant karma and pass my info along to any friends, family, coworkers, or people that like funny pics that can use this gift.
Life Quote of the Day 2: “There’s four things you can be in life: sober, tipsy, drunk, hungover. Tipsy’s the only one you don’t cry during.” – James Acaster
Timeout for Trivia: Congrats to those who guessed Millie Bobby Brown last week! Want to be entered into a drawing to win a Carly Rae Jepsen Call Me Maybe T-shirt? Simply email me the answer to this weeks’ Who Am I? question. Good luck: “It was on this date in 2001 when our group won Best British Group and Best British album at the Brit Awards! We are a one-word group, although that word could be renamed ‘Chilly Stage Show’. Our favorite color? Yellow. Our favorite actress? One that won’t lose her head. Our favorite song? Well, we’ve had a lot of hits, one of our favorites we played at the Super Bowl nine years ago and the title in English means ‘Long Live Life’.”
The Adieu Mortgage Haiku:
Pandas lounge all day,
Just like interest rates – they drop
but won’t climb back up
Welcome to a better mortgage experience! In just few minutes you can find out what you qualify for and explore multiple loan options and interest rates.
Complete our short and intuitive pre-approval interview to get started.
