This move by the FEDS doesn't help anyone but the media headlines. Wake up, lenders freeze off foreclosures of primary homeowners, lower rate to existing homeowners and get the money coming in to help juice the economy. Homeowners have solid payments at good rates, no fear losing homes - they go shopping and put into the economy of supply and demand and let the investment money rebuild naturally. The asset grows with the economy and everyone wins because money gets circulating around again. Right now - stagnate, spinning out of control, buyers waffling and sellers losing - NOT the lenders. Quit being greedy - so lower the payments to keep homeowners in; they will take care of the asset at the value they took if they can make payments. Tax credits goes to the existing vacant asset properties to bring up those values and hopefully stabilize the market.
T.A.
of CA
@
Apr 30, 2008 17:47:43 PM
What Fed Moves Mean for Mortgage Rates
Nothing that I see on my monthly mortgage statement. Ain't there always an exuse why it doesn't work what the Fed's doing? Yeah, we cut the rate, but you won't really (or at all) see it. So the help is???? The only places I've seen interest rates dropping are at my money markets. You can't win.
of TX
@
Apr 30, 2008 17:09:15 PM
Dumb article
...because 98% of homeowners paying mortgages who are interested in refinancing, are being told by the news that interest rates are falling, making them not worry about interest rates since it pertains to the same interest rate they were lead to beleive when buying a house to begin with, Right?? Wrong. Now we have to know when we are being mislead by the news media that interest rates that determine our refinance options are instead ,10 year Treasury Bills!!!!!!!!
T.A. of CA @ Apr 30, 2008 17:47:43 PM
of TX @ Apr 30, 2008 17:09:15 PM
of @ Apr 30, 2008 16:58:23 PM
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