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U.S. Fed buys $3.4 billion of mortgage bonds, sells none
Reuters ^
| November 30, 2017
| by Staff
Posted on 11/30/2017 11:28:33 AM PST by Oldeconomybuyer
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Nothing to see here. Move along.
To: Oldeconomybuyer
They bought $5.516 billion worth the week before and sold none. So, nearly a $9 billion play.
2
posted on
11/30/2017 11:30:58 AM PST
by
vikingd00d
(chown -R us ~u/base)
To: Oldeconomybuyer
This raises the price of homes—making it tough for first time home-buyers.
Some day the youngsters may figure it out—and consign the Fed to the ash-heap of history.
3
posted on
11/30/2017 11:31:06 AM PST
by
cgbg
(Hidden behind the social justice warrior mask is corruption and sexual deviance.)
To: Oldeconomybuyer
4
posted on
11/30/2017 11:32:03 AM PST
by
moovova
To: cgbg
This raises the price of homesmaking it tough for first time home-buyers. It also reduces the cost of mortgages, making it easier for first time home-buyers.
To: DoodleDawg
But then there are all these people offering to buy your house
as is "to cut out all the competition."
Meanwhile, those newly weds trying to buy their first house are "cut out" from buying an affordable house.
6
posted on
11/30/2017 11:45:28 AM PST
by
Slyfox
(Are you tired of winning yet?)
To: vikingd00d
...sold none ... No buyers. Except our grandchildren.
7
posted on
11/30/2017 11:46:09 AM PST
by
Oldeconomybuyer
(The problem with socialism is that you eventually run out of other people's money.)
To: Slyfox
Meanwhile, those newly weds trying to buy their first house are "cut out" from buying an affordable house. What would that do to newly weds if mortgage rates were two or three percentage points higher?
To: DoodleDawg
9
posted on
11/30/2017 11:52:38 AM PST
by
Slyfox
(Are you tired of winning yet?)
To: Oldeconomybuyer
Yellen crap bomb on her way out?
10
posted on
11/30/2017 11:55:42 AM PST
by
CincyRichieRich
(Extraordinary acts of God often start with ordinary acts of obedience. P. Yefros)
To: Slyfox
Mine was a touch over 6% when I bought in 2008. I refinanced in 2012 at 3.45%.
To: All
Excuse me.
Why has no one asked where they got the money from to make this $9 billion buy?
12
posted on
11/30/2017 12:01:21 PM PST
by
Owen
To: Slyfox
My first house mortgage rate was 14%. And I have an 850 credit score - and never bounced a check in my life.
To: 2harddrive
Double-digit rate musta been during Jimmah’s time in office.
14
posted on
11/30/2017 12:06:14 PM PST
by
Slyfox
(Are you tired of winning yet?)
To: Oldeconomybuyer
Kill Freddie and Fannie and legislate the Federal Reserve cannot buy MBS bonds.
Fifty+ years of federal “housing support” has manufactured housing or interest rate bubbles, and then the Fed had to rescue the economy from the crisis it has helped produce.
15
posted on
11/30/2017 12:06:49 PM PST
by
Wuli
To: Slyfox
I was thrilled to assume a 13.25% loan in 1983 as new ones were running 16%. I sucked that up for two years until rates dropped. Refinanced to a 15 year at 10% in 1985. Have two nice houses in Idaho now. Both mortgage free. Replaced the primary 4x4 F150 with a 2015 F-150 Crew Cab. Got a 1.8% loan.
16
posted on
11/30/2017 12:08:32 PM PST
by
Myrddin
To: Slyfox
I had a double digit V.A. loan at a rate lower than the market (and glad to get it)
back when V.A. set their own rate, though it was Reagan - 1981.
Bought for 74k sold for 128k, now worth 330k.
oh well.
17
posted on
11/30/2017 12:46:58 PM PST
by
stylin19a
(Best.Election.Ever.)
To: Wuli; Oldeconomybuyer
>
Fifty+ years of federal housing support has manufactured housing or interest rate bubbles, and then the Fed had to rescue the economy from the crisis it has helped produce.
>
100yrs+ of (illegal conveyance of authority/power) “fostering the stability, integrity and efficiency of our nation’s monetary, financial and payments systems”...by foisting a Great Depression and interest to have made even PENNIES worthless.
18
posted on
11/30/2017 12:53:33 PM PST
by
i_robot73
("A man chooses. A slave obeys." - Andrew Ryan)
To: Oldeconomybuyer
"Every Congressman, every Senator knows precisely what causes inflation...but can't, [won't] support the drastic reforms to stop it [repeal of the Federal Reserve Act] because it could cost him his job." - Robert A. Heinlein, 1966
19
posted on
11/30/2017 1:01:34 PM PST
by
Drumbo
("Democracy can withstand anything except democrats." - Robert A. Heinlein)
To: DoodleDawg; Slyfox
Our first mortgage was 8.5 %.
We survived.
20
posted on
11/30/2017 1:01:48 PM PST
by
moovova
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