Time Quote of the Day: “Regret for wasted time is more wasted time.” – Mason Cooley
Today in Economic History: It was on this date in 1934 when the US Congress passed the Silver Purchase Act. This bill nationalized silver stocks and gave power to the President to increase the Treasury’s silver supply, which was viewed as a major victory for the long-suffering silver industry. Here are eight fun silver facts you probably didn’t know.
Possible Game Show Answer: Van Gogh’s The Starry Night painting depicts his view from the Saint Paul-de-Mausole asylum. (*Contrary to popular belief this painting has never been stolen, however, here’s one of Van Gogh’s that was stolen and then returned in an Ikea bag.)
Wuss’up This Week: Not a whole lot going on, Mortgage Fans. Today is the Juneteenth holiday which means the market is closed and hopefully reading this in bed on your day off. To those of us working today (yes, sigh… I’m one of them) we have the Home Builder Confidence Index report coming out this morning, Housing Starts tomorrow, and Existing Home Sales report being released on Friday. If these come in good for the economy we’ll see rates tick up, and vice versa if the numbers disappoint.
Interest Rate Update: Last week was a teeny bit better than the week before, hopefully that momentum continues! For a loan of $250k or less the 30yr fixed rate is in the low-to-mid 6s. From $250-$766k you’re looking at the high-6s/low-7s. For a jumbo (*over $766k) 30yr fixed those can also be found in the high-6s to low-7s. As usual rates will vary based on type of home, equity in the home, your credit score, if you’re a first time home buyer, and if you’ve ever been duct taped to an airline seat.
Don’t Forget to Remember: Any purchase or refinance that closes 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 cabins that can use this gift.
Time Quote of the Day 2: “Time flies when you wake up at noon.” – @nealbrennan
Timeout for Trivia: Congrats to those who guessed Chris Evans last week!
Want to be entered into a drawing to win a Danny DeCheeto Fridge Magnet? Simply email me the answer to this week’s Who Am I? question. Good luck: “It’s my birthday today and I’m getting up there but I’ll still sing it loud and proud like they do on the game show I used to be a panelist on from 2002-2009. My fame started in the late 1980s when my album set a record (at the time) for the most # 1 singles – there were four of them! In the early 90s I married an actor who is most known for his high school movie, or maybe his 3 fictional movies coaching a real-life hockey team. We had almost nothing in common (what do people say about opposites?) and divorced after two years. An anagram for my name is ‘bad lap luau’ but truthfully, there wouldn’t be a bad luau if I choreographed it.”
The Adieu Mortgage Haiku:
Time heals all wounds
High rates have left us wounded
Economy’s ache
