Sharks, Rallying Rates, and Social Security!
Shark Quote of the Day: “You don’t have to swim faster than the shark, just faster than the person you’re with.” – Kevin Nealon
This Week in Economic History: It was on January 31st, 1940 a woman in Vermont received the first-ever Social Security check in the amount of $22.54. She reportedly blew the whole thing making a Starbucks run. Okay, never thought it was possible but there are actually 9 fun facts about social security numbers.
Wuss’up This Week: Every day reports about our economy are released into the wild, and it’s these reports that can sway interest rates in either direction. Today we’ve got Durable Goods Orders (*these are big-ticket items that last more than three years, i.e. cars, refrigerators, and the jar of pickles that have been sitting in my pantry since I bought my home), tomorrow is the Initial Jobless Claims Report and New Home Sales, and then on Friday Consumer Spending. As usual, if these reports beat expectations we’ll see rates tick up, and vice-versa if the numbers disappoint.
Interest Rate Update: Since that horrible day at the Capitol interest rates have rallied…. a little. Today we find 30yr fixed conforming loan rates (*that’s any loan at $548k or less) at 2.50%-3.125% and jumbo 30yr fixed (*over $548k) in the high-2s/low-3s. As usual, rates will vary based on if it’s a purchase or a refinance (*lower rates for purchases), type of home, equity in the home, your credit score, and if your dog likes watching horse races on TV.
Don’t Forget to Remember: Any purchase or refinance loan that closes with me I will waive $575 in lender fees. Grab yourself a cup of instant karma and pass this info along to any friends, family, coworkers, or people who like to read about interesting movie details.
Shark Quote of the Day 2: “Yes, sharks can outswim you, but you can outrun sharks. So far in a triathlon, you’re square. All comes down to who’s the faster cyclist.” - @AbbieEvansXO
Timeout for Trivia: Congrats to those who last week guessed Rainn Wilson. Want to be entered into a drawing to win a Dawson’s Creek Silhouette T-shirt? Simply email me the answer to this week’s Who Am I? question. Good luck: “It’s my birthday today, and I can sing Happy Birthday to myself – hardly anyone knows that I can really sing (I’ve released a few albums) – although I did sing a few songs in my movies. Remember my holiday song duet with a tall guy who should’ve been short (think: 3-letter title of that movie). I also received a Grammy Award nomination for the song I wrote for the Winnie the Pooh soundtrack, and that must’ve made my parents proud because if you look at the spelling of my first name you’d think they really liked animals. What do I like? Warm weather – my favorite season lasts about 90 days, not hundreds more. I also like starring on TV Shows – my favorite sitcom could’ve been titled, Current Female.”