- This topic has 81 replies, 25 voices, and was last updated 17 years, 4 months ago by
HereWeGo.
-
AuthorPosts
-
September 18, 2007 at 11:26 AM #10331September 18, 2007 at 11:35 AM #84989
Alex_angel
ParticipantThis won’t do a thing to help the housing market at all. The banks already made it clear that they don’t want to deal with Jumbo loans anymore and most likely won’t lower their rates.
September 18, 2007 at 11:45 AM #84992Pasadena Broker
ParticipantThis won’t change the current underwriting guidelines.
If anything, it’s an admission that we’re in choppy waters.
September 18, 2007 at 11:47 AM #84994lniles
ParticipantWill this affect the October ARM resets on existing mortgages?
September 18, 2007 at 11:51 AM #84995HLS
ParticipantFED FUND RATE and PRIME RATE HAVE NOTHING TO DO WITH MORTGAGE RATES OR ARM RATES
FED FUND RATE and PRIME RATE HAVE NOTHING TO DO WITH MORTGAGE RATES OR ARM RATES
FED FUND RATE and PRIME RATE HAVE NOTHING TO DO WITH MORTGAGE RATES OR ARM RATES
FED FUND RATE and PRIME RATE HAVE NOTHING TO DO WITH MORTGAGE RATES OR ARM RATES
September 18, 2007 at 11:52 AM #84997Diego Mamani
ParticipantZandi was overly optimistic a year ago. And now he’s overly pessimistic:
“We have a very soft economy and if the Fed doesn’t lower rates then the economy could fall into a recession,” said Mark Zandi, chief economist at Economy.com.
Could he have a conflict of interest if some of his corporate clients stand to benefit from a bail out (in the form of lowered short-term interest rates)? I’m not happy that the Fed has bowed to pressure from the whiners at Wall Street (and their consultants, like Zandi).
I remember now that Economy.com was purchased by Moody’s some time back. Moody’s is responsible for giving AAA ratings to MBS (essentially junk), that many pension funds, and other institutional investors, ended up buying. It turned out that Moody’s, like S&P, had a tremendous incentive to give prime ratings to junk bonds.
And now Mark joins the chorus of whiners asking for (and getting!) a bailout. Disgusting.
September 18, 2007 at 11:52 AM #84998LA_Renter
ParticipantThe US Dollar index is now marching towards 79, oil has broken out north of 80, gold is north of $720, the yield on the 10 yr actually went up after the announcement. I hope these guys know what they are doing.
September 18, 2007 at 11:54 AM #85000HLS
ParticipantUnless your ARM is tied to prime, which I have never seen.
It will affect HELOC rates that are tied to prime and Credit Card rates.
READ your loan docs to know what index your ARM is tied to, then add your margin, then throw up once you understand.
Repeat as necessary.September 18, 2007 at 11:56 AM #85001Diego Mamani
ParticipantThis won’t do a thing to help the housing market at all.
Hey guys, BB didn’t drop the rates in order to save the housing sector. His concern is that the current credit crunch could adversely affect overall confidence and make a economy-wide recession more likely. So, the Fed lowered rates to prop up the general economy. BB, who has a respectable academic background, couldn’t care less about housing. He’s concern is preventing the unemployment rate from getting too high.
September 18, 2007 at 12:02 PM #85002Pasadena Broker
ParticipantA lot of eyes are on the market…
anyone watching gold & oil?
got a little inflation with that popcorn?
September 18, 2007 at 12:04 PM #85003donaldduckmoore
ParticipantWhat is the use of the rate cut? Who is really benefitted from this cut?
September 18, 2007 at 12:07 PM #85005surveyor
Participantwonder of wonders
I wonder how those double inverse fund investors are doing….
September 18, 2007 at 12:30 PM #85007cr
ParticipantHLS, I actually meant to put this under the economy/finance category. Forgive my ignorance, then what rate DOES dictate mortgage rates?
So yeah, what’s the best way to invest in gold these days?
Seriously.
September 18, 2007 at 12:52 PM #85008CarlsbadMtnBiker
Participant“FED FUND RATE and PRIME RATE HAVE NOTHING TO DO WITH MORTGAGE RATES OR ARM RATES”
HLS.. (did u graduate high school?) bullshit, not as direct as the 10 yr T., but indirectly to say the least.
http://www.federalreserve.gov/fomc/fundsrate.htm (study up a little, would ya?)
September 18, 2007 at 12:52 PM #85009kewp
ParticipantMy wallet smells funny all of a sudden.
Maybe something died in there?
-
AuthorPosts
- You must be logged in to reply to this topic.