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7 comments

Date Votes
  • Hunter Mag
    I was waiting for this, but I think the market already counted this in.

    Good for borrowing bad if you have/are looking for CDs.
    0
  • Marc1301
    I expected it also.
    Problem is,.....the fixed rate mortgages will not follow, they never have.
    Nobody with a brain will go below 5% for a 15 to 30 year term, and expect to make money.

    This will temporarily make the stock market happy,.....although they didn't finish "happy" today.
    In reality it will knock down CC rates, and HELOCS a bit, to let folks spend themselves into further debt.

    Unfortunately, the folks that live from fixed "safe" investments, will tighten up, and that along with the coming inflation factor, will make this a non-event, I believe it will actually hurt the economy overall. They are ignoring oil prices which factor into everything that we consume,.......that will be an inflationary factor at some point that can't be ignored.

    This is about nothing other than attempting to bail out big financial institutions, mortgage companies, and real estate folks,..........and some real dumb azzes that bought more than they could afford. It is becoming the American way,.....bailout after bailout.

    One day before too long, the house of cards will fall.[xx(]
    0
  • 180A
    Wht can't the Postal Service follow suit and cut their rates by 1/2 ?

    That would be something that everyone could use...
    0
  • Colt Super
    quote:Originally posted by Marc1301

    One day before too long, the house of cards will fall.[xx(]


    I hate to be witnessing the collapse of the greatest social experiment of all time.

    Doug
    0
  • Permanently deleted user
    quote:Originally posted by Marc1301
    I expected it also.
    Problem is,.....the fixed rate mortgages will not follow, they never have.
    Nobody with a brain will go below 5% for a 15 to 30 year term, and expect to make money.

    This will temporarily make the stock market happy,.....although they didn't finish "happy" today.
    In reality it will knock down CC rates, and HELOCS a bit, to let folks spend themselves into further debt.

    Unfortunately, the folks that live from fixed "safe" investments, will tighten up, and that along with the coming inflation factor, will make this a non-event, I believe it will actually hurt the economy overall. They are ignoring oil prices which factor into everything that we consume,.......that will be an inflationary factor at some point that can't be ignored.

    This is about nothing other than attempting to bail out big financial institutions, mortgage companies, and real estate folks,..........and some real dumb azzes that bought more than they could afford. It is becoming the American way,.....bailout after bailout.

    One day before too long, the house of cards will fall.[xx(]


    +1

    we're going to end up in a recession in the next few years that will make the 81-82 one look "pleasant".

    Lowering interest rates are a quick fix to a deep problem
    0
  • Captplaid
    Does anyone remember how flat the real estate market was after the recession of the 80's.

    People are spoiled. The unemployment rate is at 5%!

    You can still find a job!

    This drop in interest rates is not going to jump start the marketm, but it is a good oportunity for those stupid enough to get an adjustable mortgage to refinance, if the can meet the hirer credit standards.


    The world is not coming to an end.
    0
  • Sav99
    quote:Originally posted by Captplaid
    Does anyone remember how flat the real estate market was after the recession of the 80's.

    People are spoiled. The unemployment rate is at 5%!

    You can still find a job!

    This drop in interest rates is not going to jump start the marketm, but it is a good oportunity for those stupid enough to get an adjustable mortgage to refinance, if they can meet the higher credit standards.


    The world is not coming to an end.




    Fannie/Freddie and FHA are still reasonably friendly. Though 100% LTV loans are getting harder to come by.
    0

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