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Fed Cuts Rates to Historic Low [fed funds from 1.0% to 0.25%]
Wall Street Journal ^
Posted on 12/16/2008 11:35:21 AM PST by Sub-Driver
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To: Sub-Driver
21
posted on
12/16/2008 11:43:26 AM PST
by
BGHater
(Obama is a Neocon.)
To: Sub-Driver
Still penalizing savers to bail out speculators. Didn’t work in Japan - won’t work here.
22
posted on
12/16/2008 11:43:30 AM PST
by
Mr. Jeeves
("One man's 'magic' is another man's engineering. 'Supernatural' is a null word." -- Robert Heinlein)
To: Old Retired Army Guy
Mortgage rates will go up in the short haul, then decrease. We are seeing rates in the 4.75% range now. Eventually this may reduce the rate to as low as 4%.
As far as getting a loan goes.....who knows. The credit market has been tight. Only those with good credit and income have been able to refi - however, I am seeing the mortgage brokers refinancing lower credit scores.
23
posted on
12/16/2008 11:43:34 AM PST
by
illiac
(If we don't change directions soon, we'll get where we're going)
To: Ancesthntr
Next step, the fed will start paying people to borrow money.
24
posted on
12/16/2008 11:43:45 AM PST
by
earlJam
To: Sub-Driver
“reduce the target fed funds rate for interbank lending from 1% to a range of zero to 0.25%”
Free loans for banksters! woohoo
This is insane...
25
posted on
12/16/2008 11:43:56 AM PST
by
nominal
To: Old Retired Army Guy
Mortgage rates will rise because this will lower the yield on 10 yr treasuries,again.Dollar goes down,mortgage rates go up.
26
posted on
12/16/2008 11:44:17 AM PST
by
quack
("Those Who Sacrifice Liberty For Security Deserve Neither.")
To: Ancesthntr
Fedese for gas up the choppers. choppers? Probably more like C-130s
27
posted on
12/16/2008 11:44:26 AM PST
by
garbanzo
(Government is not the solution to our problems. Government is the problem.)
To: Old Retired Army Guy
If they could take it down to 4-4.5% on a 30 year fixed, can you imagine how much money would begin to flow into the economy. Lots. Right now that money is available, but being hoarded by fearful banks. Dump it into the economy, increase the velocity of money (because now everyone feels wonderful, the "good times" are back, etc.), and you've got a recipe for a vicious inflation.
28
posted on
12/16/2008 11:44:46 AM PST
by
Ancesthntr
(An ex-citizen of the Frederation dedicated to stopping the Obamination from becoming President)
To: elpadre
It won’t affect mortgage rates. The Fed buying their own debt is reducing mortgage rates. Cutting the funds rate and trying to hurt the dollar is considered “inflationary” and causes the spreads to go up so it raises mortgage rates. The bottom line though, is that mortgage rates look to be historically low for a long time, until the bond market collapses and crushing inflation occurs (assuming it works to reflate.)
To: Old Retired Army Guy
It was indeed.
River's Edge Mortgage Llc
91 Main Street
Monroe, CT 06468-1630
Phone: (203) 445-0077
This is the CT branch, but I believe they're nation wide.
30
posted on
12/16/2008 11:45:23 AM PST
by
Puppage
(You may disagree with what I have to say, but I shall defend to your death my right to say it)
To: Sub-Driver
Then you must have had a 7.75 or thereabouts.....
31
posted on
12/16/2008 11:46:31 AM PST
by
Red Badger
(Never has a man risen so far, so fast and is expected to do so much, for so many, with so little...)
To: Sub-Driver
The government never met a price they couldn’t fix.
To: Ancesthntr
Add the proposed stimulus packages that Barackula wishes to give to the American people. I see the writing on the wall, well now it’s more akin to a warning siren.
33
posted on
12/16/2008 11:47:25 AM PST
by
Xenophon450
( The stain of freedom, he's washed it out... whoÂ’s rocking the cradle? I have no doubt...)
To: Sub-Driver
34
posted on
12/16/2008 11:47:43 AM PST
by
Red Badger
(Never has a man risen so far, so fast and is expected to do so much, for so many, with so little...)
To: Freedom_Is_Not_Free
"Right now people are paying the Fed to take their money, with negative yields on short bonds." Yes...And, that has never happened in this country before, never! (Money is looking for safety only, not interest).
Russians are spending or trading their rubles for US dollars as fast as possible. Russian currency will fold again, shortly.
35
posted on
12/16/2008 11:47:52 AM PST
by
blam
To: Freedom_Is_Not_Free
Of course, the market bumps up on a non-event. It will give it all back by weeks end. With todays market volatility, +250 pts is a yawner. It was up about 266, now it is only up 176. Initial euphoria, followed by a bit of a return to reality. Kind of like a high from a dose of some narcotic.
36
posted on
12/16/2008 11:47:55 AM PST
by
Ancesthntr
(An ex-citizen of the Frederation dedicated to stopping the Obamination from becoming President)
To: Ancesthntr
It does not matter how low they drop it...
If you do not have a job, no money....Well maybe a few pennies people can muster up in there coat pocket...
The Government is Clueless about there own people...
37
posted on
12/16/2008 11:48:21 AM PST
by
TaraP
(The RAPTURE: Seperation of Church and State)
To: earlJam
Next step, the fed will start paying people to borrow money. I'd be happy if they'd simply pay my debts off - then I'll happily resume spending (to a limited degree, of course).
38
posted on
12/16/2008 11:49:06 AM PST
by
Ancesthntr
(An ex-citizen of the Frederation dedicated to stopping the Obamination from becoming President)
To: Ancesthntr
Knee jerk reaction. Nothing more.
To: Ancesthntr
They cant cut rates much further, can they? Nope - the cutting ship has sailed. Hope this works for a day or two...
40
posted on
12/16/2008 11:50:09 AM PST
by
GOPJ
(There are no "tough" issues - just "tough" consequences.)
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