Dream Quote of the Day: “If you can dream it, you can do it.” – Walt Disney
Possible Game Show Answer: If you have a daily routine, some scientists believe that dogs can tell when you’re coming home by how much of your scent is left in the house.
This Week in Economic History: It was on June 13th, 1933 when the Home Owners Refinancing Act passed through Congress. The act gave federal funds to citizens for mortgages and even repairs to their homes. It’s not going to be much longer, Mortgage Fans, for refinance season to be here….
Wuss’up This Week: What a busy day today, Mortgage Fans – we’ve got four reports about inflation this morning, and then the Fed will announce if they are lowering rates or keeping them where they are (*99.4% chance the rates will remain the same). Tomorrow there will be four more inflation reports, and on Friday the Consumer Sentiment Report.
Interest Rate Update: Last week’s Employment Report for May was a rate-killer, Mortgage Fans. Today we find a conforming 30yr fixed rate at around 6.69% for loans that are $250k or less. Loans between $251k-$766k can be found anywhere from 6.99%-7.49%. Jumbo loans (*over $766k) are also in the high-6s/low-7s for ARMs and fixed rates. As usual rates will vary based on if you’re a first-time home buyer, type of home, equity in the home, your credit score, if you like beautiful pics of the Netherlands
Don’t Forget to Remember: Any purchase or refinance loans that close with me I will waive $450 in lender fees! Grab yourself a cup of instant karma and pass my info along to any friends, family, coworkers, or people that like cooking tips that can use this gift.
Dream Quote of the Day 2: “Whenever my daughter asks if I want to hear her dream I tell her to write it down so I can really absorb it later. Follow me for more tips.” – @itssherifield
Timeout for Trivia: Congrats to those who last week guessed Mark Wahlberg!
Want to be entered into a drawing to win a Sad Tiny Violin? Simply email me the answer to this week’s Who Am I? question. Good luck: “It’s my birthday tomorrow which means you’ve got one day left to buy this hero a gift. No, seriously, I don’t see myself as a hero despite playing one who could barbecue without a grill (2005 & 2007) and also playing one whose first name/title is the same as the first name/title of one of this blog author’s favorite breakfast cereals, and whose last name will never make you forget where he’s from (2011 and 2019). Unless I’m playing a superhero my movies usually bomb, i.e. in my 2010 movie with Michael Cera, or my 2008 movie with Keanu Reeves. I promise you I’m a good actor despite my Razzie nomination for Worst Actor in last year’s Apple TV+ movie whose one-word title is what happens when people blow you off without telling you. Last hint: acronym for my name is “Scan Shiver” or “Crash Vines” – hmmm, both of those would make good superhero names!”
The Adieu Mortgage Haiku:
I dream of low rates
They will come down at some point
Most likely this year
