[quote=flu][quote=martink110]I’m the opposite of most of you. Had a Wamu card 7.99% 12,000 limit balance at ~11,500. Wamu gets bought by Chase. My Wamu payment was always due on the 1/2/or 3rd of the month. I make my payment on the 1st. Chase changes my due date to the 28th?? so I’m “late” they jack up my rates to 20 something percent. I Go to BofA get a 0% CC(1 year) and transfer the balance :). Oh yah about 3 months ago BofA gave me a pesonal equity line for 20,000 @12.99%.
About the mortgage rates… geithner and that other person went to China, wonder what they’re taking about? “please buy more at lower rates.. we’ll give you x if you do. I expect short term for the rates to stabilize, if not go lower. Gotta keep the hope alive you know.[/quote]

Well, I recall about 1 year ago, some (not all)people wanted more affordable housing and were clamoring for “bring on the pain” of a recession and with that job losses so that home prices would come crashing down. Looks like we got exactly what bargain hunters wanted. Except…Mr. President, the middle class called. They want their jobs back at all costs.

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I actually think they will let rates rise a bit to cool things off, (now this is where I put on my tin foil hat), I think things are starting to take off a little sooner than the current administration wants as it kind of puts some of their plans (spread the wealth type of stuff) in a light as not being necessary maybe.

On another note looks like TG and a few others are in good company as this Sam Zell guy seems to think we are at or close to a bottom in Residential RE as well (although he is not quite as local as TG).