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What fools.
We're not going to have a recession; it's going to be a depression for sure!
Idiots. They are going to inflate us further! Then another G. Depression. Didn't Ben read the article about the dangers of cutting rates?
it was the fed rate, right?
Yes, Fed rate cut 3/4 pts to 3.5%
Thanks Debts, that's what I thought. Today though? I thought it was suppose to be later in the month? The 28th or so. Bank rates usually go up after a cut, no?
Biggest cut in 24 years. Emergency Meeting
Is it just me or do you feel like you are stuck in one of those dreams where your screaming and no one is hearing you? I knew the powers that be have their heads up their arses but dang can they really be this stupid? Oh wait, Ben and Bush already made sure they and their buddies hid their money and protected it so they don't give a crap about the rest of us.
Off to go buy some ramen, hamburger helper, what little money I have ain't going to go that far.
"I sure picked the wrong day to quit sniffing glue..."
LOL Anne.
Yeah - and its extra special that they decided to cut in an emergency session so the markets could get extra freaked out. I hope someone knows what they are doing here.........
They have to see the writing on the wall. I think they are just feeling omnipotent (sp?) in the belief it can't happen to them!
What? I can go back to sucking on the HELOC for 3/4 of a point less? OH it's time for the Dance of Joy!!!!!
What the heck? Why aren't the US markets showing any change?
bank rates are now going down too. We're suppose to lock in our rate today (if we want) and it's down to 5.25% for a 30yr fixed. He's not answering the phone... nice.
It's only tied into credit cards, auto loans and HELOCs. Maybe you can take out a HELOC also when you sign.
5.25 sounds low for a 30. Are you sure thats not a 15?
Look quickly before it changes... LOL
pinks, try a float down lock. It means that if the rate goes down further, you get it. If it goes up, you don't go up. Costs about $375, but most mortgage brokers (not banks) will pay it as part of their services.
The rule, "Don't show bad news" is applying to the stock market today... they aren't showing the graph, only the numbers. lol
I just emailed him as well and asked for that. I asked that we lock in now w/ a one time float down within 60days, and asked what it would cost to extend it past the 60 days if need be. (Being that we have to find another house to buy now.... lol
You can do a full float down. Meaning you can relock in as many times as you want.
Wait! at this rate we sould be at 4.75 for a 30 in no time! We can go back to buying more home than we can afford and take out an extra 200k HELOC at signing for the H2 and rims and family vacation! Thanks BUSH!!!!!
pinks, you generally can't lock a rate when you don't have a purchase contract...
? I've done a 30 day lock several times while I'm bidding. I'm not doing them now, because the wait time on the banks are so long when bidding on foreclosure/short sale homes that I don't expect any reply for even longer than 30 days.
HELOC = Home equity line of credit. Stay away.
HELOC Home Equity Line Of Credit
Pls note: This is not like a mortgage, the line of credit can be called in (reduced) at any time, forcing the owners to immediately pay it.
... and, it's free and anonymous
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Way To Go you corporate robot.
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