Thinking About Rates! Lucky Charms! and American Pie!

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I almost failed the 7^th grade. My ADD and OCD – both undiagnosed back when I was growing up – combined with me dating my first girlfriend added up to trouble for this blog writer. My history with a history teacher that hated me produced a quote I love to this day some 40+ years later. She was an old no-nonsense southern woman who asked me a question. When I answered it incorrectly she started berating me, and I said, “I just thought-“ to which she said, “Don’t flatter yourself by thinking your brain can produce a thought.” Bam! I was down for the count, and the class went wild. Good times. Sometimes with this market I feel like I’m back in 7^thgrade knowing nothing about anything. If you had asked me a year ago where rates would be today, I would’ve said in the high-5s/low-6s. Hey, that prediction would’ve only been off by a point. Anyway, I think it’s time to start the blog…

Think Quote of the Day: “Whether you think you can, or you think you can’t – you’re right.” – Henry Ford

Today in history: The very first video was uploaded to YouTube which was titled “Me at the zoo.” For the best animal video on YouTube, nothing beats the 6-second dramatic chipmunk

Possible Game Show Answer: In ancient Rome, urine was used as toothpaste and laundry detergent – it contains ammonia, which can be a powerful cleaning agent. (*there’s probably a joke in there somewhere about how they all complained that brushing turned their teeth yellow.)

Wuss’up This Week: I have this fantasy that the word ‘tariff’ won’t be brought up at all on the news and my social media feeds. I’m sick of hearing about it, but… the next time Fed Chairman Jerome Powell speaks I’m sure he’ll bring it up. Today marks two weeks since the current pause on tariffs was put in place by the current administration, this is set to end on July 9^th. In the meantime, today we’ve got the New Home Sales report as well as the Fed Beige Book being released, tomorrow Durable Goods Orders and Existing Home Sales, and then the week wraps up with the Consumer Sentiment Report on Friday. As usual if these reports come in good for the economy, you’ll see rates tick up, and vice versa if the numbers disappoint.

Interest Rate Update: Did you know that April is Financial Literacy Month? Neither did I, but I’ll do a PSA and promote it for what’s left of this month. It was created to promote awareness and education around personal finance like budgeting, saving, investing, etc. Hey, I’d be able to save more if I had more loans! Rates haven’t been cooperating like experts said they would at the end of last year (*One of those “experts” was me – as I mentioned earlier I really thought they’d be much lower by now, and yes – I do think they’ll be in the high-5s/low-6s by the end of 2025 - I’m still sticking to my prediction. Take that for what it's worth – I also predicted my wife’s love of Bravo’s Housewives show would die after a couple of seasons. Sadly, it has not.) In the meantime, rates for a conforming 30yr fixed (*that’s for any loan at $806k or less) can be found in the high-6s/low-7s, and Jumbo (*over $806k) in the high-6s for 30yr fixed and low-6s for an ARM. As usual rates will vary based on type of home equity in the home, your credit score, and if you like unusual interesting facts.

Don’t Forget to Remember: Any purchase loan that closes with me I will waive $450 in lender fees (and much more on refinances)! Grab yourself a cup of instant karma and pass my info along to any friends, family, coworkers, or people who know the meaning to American Pie that can use this gift.

Think Quote of the Day 2: I don’t think I could stab somebody ‘cause I’m really bad at a Capri Sun.” – Daniel Tosh

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Timeout for Trivia: Congrats to those who guessed Chance the Rapper last week! Want to be entered into a drawing to win a Lucky Charms T-shirt? Simply email me the answer to this weeks’ Who Am I? question. Good luck: “It’s my birthday tomorrow, and it would be my pleasure to sing Happy Birthday. My first name can be a name for male or female. The first half of my last name is a male’s first name, and the second part of my last name is obviously male. You got to know me back in 2002 on a TV show that can retitled “Yankee Icon.” My first hit broke The Beatles’ record for the biggest leap to # 1 (after opening up at # 60 on the Billboard Hot 100 chart, and for that I am so thankful.) I can tell you I’m a better singer than actress because I made a movie in 2003 that received the Golden Raspberry Award for Worst Musical Ever and has since gained a reputation as one of the worst movies ever made. Okay, I told myself, if I can’t make it on the big screen then maybe TV would be a good idea. And it was, my daytime show debuted in September of 2019 and is still running today. Singing is still my favorite thing to do, and I’ll tell ya that my life would suck without you – my fans.”

The Adieu Mortgage Haiku (Dr. Seuss style):

Rates go up, rates down,

Housing is low in Chi-town

Do I buy or wait?