[quote=kev374]Interest rates have dipped again from 4.6 to 4.29%[/quote]
Kev, with no disrespect to you, it is RIDICULOUS to refer to an article like that about interest rates. It’s old, and it’s not even news.
It’s as silly as saying that Alaska Airlines stock
(ALK) is $52 (which it was last week)but it’s almost $57 today.
You could link to an article from last week that says it’s $52, and you can stand on your head and hold your breath until you pass out;You aren’t going to get that stock for $52 today.
The FACT is that interest rates move day by day and many times INTRA day.
The FACT is that last Friday mortgage rates EXPLODED to their highest levels in several years.
The FACT is that there is no ‘one rate’ that applies to everyone but most people seem to think so and don’t want to bother understanding this.
The FACT is there is a difference between ‘average’ rates that are quoted in articles and what is actually going to apply.
the FACT is there is a difference between a ‘no cost’ rate & a low rate that comes with costs, which changes the APR.
You did prove one of my points though in that intelligent people are all ‘trading’ on the same bad information.
There are simple facts that apply to many situations yet most people have opinions and make statements rather than understand that there are facts to override them.
Most ‘news’ is not news…. It’s press releases, with a spin. It’s someone (who was paid) releasing a report with a spin on it to create an illusion and support THEIR position.
The govt constantly releases ‘reports’ with misleading statistics & numbers. BILLIONS of dollars get traded on this ‘news’ some people make small fortunes, others lose huge amounts of money on these reports. They were right or wrong…..
in many cases, a month or two later this original report ‘quietly’ gets revised, without nearly as much attention as the original report received.
It turns out that the people who lost money and thought they were wrong, were actually right, but their money has already been lost.
