February 28, 2023

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This month, we talk a little bit about why rates have moved higher in February, and give you a way to easily forecast where mortgage rates will go next.

Here is what else you'll find in this month's Two Cents Monthly...

• Words to live by
• Mortgage Corner
• Easily keep track of mortgage rates
• A new twist on gardening
• Streaming channel updates for March (What is YOUR favorite streaming channel? Reply back and let me know!)
• Holy Trivia Batman!
• The need for speed... internet speed
• Ring doorbell hacks
• Garden Tool Organizers
• March weeknight recipes
  

Reply back and let me know which article caught YOUR eye!

WORDS TO LIVE BY

MORTGAGE CORNER

Why Did Rates Go Up in February?

Mortgage rates had hit a 2023 low at the beginning of February, only to quickly move higher as the month went on. Why did this happen?

Higher mortgage rates were triggered by economic data that could lead to more inflation, starting with much stronger than expected jobs data on February 3rd. Over 517k new jobs were created in January, according to the estimates of the Labor Department, which was much higher than the 188k jobs expected. A strong labor market could fuel inflation, so this report (along with the lowest unemployment number in over 53 years) caused markets to expect the Fed to be more aggressive in hiking rates in 2023. Although the Fed rate hikes won't happen for months, mortgage rates and other market influenced rates jumped immediately on the news, and worsened as the month went on.

Will rates come back down again? Eventually, but not likely until we see signs of the economy and labor market weakening. Fears of recession will help mortgage rates move lower, but we don't expect to see that happen for weeks or maybe months. Until then, rates are more likely to stay near the current levels. If you want to get a rate quote for your situation, just reach out and I'd be glad to help you.

Rates have moved higher, but I can help you get a great rate with some unique solutions.

Contact me if you want to learn more.

Call, text, email... just reach out anytime it is convenient for you, and let's discuss how I can help.

Contact me today if you want to talk more about getting prequalified for a new home purchase, or if you'd like me to run some numbers for you to see if refinancing makes sense (remember, refinancing to a higher rate when consolidating debt can free up a lot of money monthly and save you thousands in interest). or if email is easier.

WANT TO KEEP TRACK OF MORTGAGE RATES?

Sign up for my Weekly Mortgage Rate Forecast!

If you or someone you know is thinking of buying or refinancing and want's to get the most up-to-date information not just on where rates have been but where they are going, sign up for my Weekly Mortgage Rate Forecast email. Get it at the beginning of each week, and unsubscribe at any time.

http://www.weeklymortgagerateforecast.com/wrf-signup

IT'S TIME TO GARDEN...UP!

A New Twist On Gardening

Limited space, or just looking for something new? Check out this easy to build vertical garden! A simple, attractive design built with cedar boards and a small footprint that makes the most of any deck space, balcony, or urban backyard!

Read More»

WHAT TO WATCH

Everything Coming to Netflix, Disney+, HBO Max & Other Streaming Services in March 2023

2023 is already off to a big start and the first details about what will be available on all of the major streaming services starting next month have finally been revealed.

Read More»

GAMES

"Holy Trivia Batman!"

Let's see just how well you remember that old Adam West Batman... here's a trivia question for you:

In the original Batman TV show, Batman's utility pouches were made of...

• 8-Track Cases
• Empty Film Cassettes
• Surplus Ammo Pouches
• Kitchen Sponges

You can find the answer below...

I FEEL THE NEED... THE NEED FOR SPEED!

Faster is Definitely Better... Or Is It?

The Truth About Gigabit Internet (and how to save money!)

Gigabit internet has become a gold standard regarding broadband adoption and determining whether or not your location has “good” internet access. But it’s overhyped, you probably don’t need it, and you can save hundreds of dollars a year by downgrading.

Read More»

SMART HOME TRICKS

10 Ring Doorbell Features You Should Be Using

Ring Video Doorbells are a great choice if you want to keep an eye on the coming and goings around your home. To get the most out of your Ring—and make it less annoying—there are some features you should use.

Read More»

TRIVIA ANSWER

ANSWER: Kitchen Sponges

How close did you get? Reply back and let me know!

In the original 1960s Batman television series, the first version of Batman’s iconic utility belt was, despite what an integral part of the whole Batman motif it is, quite a low cost prop.

How low cost? In the early episodes, the pouches on the utility belt were kitchen sponges glued to the belt with a faux strap glued to the bottom. Viewers at the time, thanks to the low resolution of standard television broadcasts and the significant phosphor fuzzing in old CRT televisions, didn’t notice. Later, when the show’s budget increased, they revised the belt to feature pouches made of actual leather.

When viewing the remastered footage today on a modern screen in much higher resolution, however, the pouches are very visible as exactly what they are: sponges, complete with the bumps and holes you’d expect.

TIME TO GET ORGANIZED

9 Best Garden Tool Organizers for Your Garage or Shed

Gardening season is coming soon, so if you don't have a good garden tool organizer in your garage or shed, check out these top options.

Read More»

YUMMY RECIPES

Our Favorite March Weeknight Dinner Recipes

Chase away the winter doldrums with these easy weeknight recipes!

Good Eats»