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  1. #1
    Member BigSmokey's Avatar
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    Intrest Rates drop again.

    Thank you Mr. Greenspan. I am goign to buy a house soon and you forcing intrest rates down is wonderful!

    http://money.cnn.com/2004/02/11/news...ex.htm?cnn=yes


    We need to put him on a stamp or somthing.

  2. #2
    Senior Member KaHNZa's Avatar
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    Dropping interest rates is like putting a bandaid on a stab wound.

  3. #3
    Member hkgonra's Avatar
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    I'll take all I can get.
    "I am for doing good to the poor, but...I think the best way of doing good to the poor, is not making them easy in poverty, but leading or driving them out of it. I observed...that the more public provisions were made for the poor, the less they provided for themselves, and of course became poorer. And, on the contrary, the less was done for them, the more they did for themselves, and became richer."
    -- Benjamin Franklin

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  4. #4
    Member cursor's Avatar
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    I just got a loan on a used car from my credit union at 4.5% and I'm not a ho owner or anything. That's pretty wild in my opinion. Money is cheap right now! Now's a great time to buy durable goods on credit.
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  5. #5
    Member deRusett's Avatar
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    In Canada its a Bad time to buy on credit, since it is expected interest rates will fall to 2.25 next month when the big fellas make an announcment, they are at 2.5 right now
    Success is..
    At age 4 .... success is .... not peeing in your pants.
    At age 12 .... success is .... having friends.
    At age 17 .... success is .... having a driving licence.
    At age 20 .... success is .... having sex.
    At age 35 .... success is .... having money.
    At age 50 .... success is .... having money.
    At age 60 .... success is .... having sex.
    At age 70 .... success is .... having a driving licence.
    At age 75 .... success is .... having friends.
    At age 80 .... success is .... not peeing in your pants
    At Any Age ... success is ... Folding for Team 32

  6. #6
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    And bond prices go up which drives money into the stock market...woohoo!

    ~THT

  7. #7
    Member BigSmokey's Avatar
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    Originally posted by KaHNZa
    Dropping interest rates is like putting a bandaid on a stab wound.
    I dont get that? I was talking about mortgage intrest rates (although I wasnt very clear). They are based on treasury bills and the market in general.

    The Fed rate is 1.0 and didnt change. Is that what you were refering to?

  8. #8
    Senior Member KaHNZa's Avatar
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    Interest rates are lowered in an effort to bolster the economy. But doing so only helps a little bit and only for so long.

  9. #9
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    Dang, I was hoping to put my money in a nice CD soon. I miss the 6.5% rate I had a couple years ago....

  10. #10
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    That may be true but I don't care. My brothers and I sold the house we grew up in last summer W00t sellers market!! w00t bidding wars that push up the sale an extra 26K!!! Add to that the fact that I can now become a first time home buyer. If this improves my borrowing position then bring on the bandaids.

  11. #11
    Member BigSmokey's Avatar
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    Originally posted by KaHNZa
    Interest rates are lowered in an effort to bolster the economy. But doing so only helps a little bit and only for so long.
    So long? Like an election year maybe?

  12. #12
    Member hkgonra's Avatar
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    They have been low since 2001.
    "I am for doing good to the poor, but...I think the best way of doing good to the poor, is not making them easy in poverty, but leading or driving them out of it. I observed...that the more public provisions were made for the poor, the less they provided for themselves, and of course became poorer. And, on the contrary, the less was done for them, the more they did for themselves, and became richer."
    -- Benjamin Franklin

    My Heatware

  13. #13
    I'm a little teapot Senior WyrmMaster's Avatar
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    Originally posted by NewbiePerson
    Dang, I was hoping to put my money in a nice CD soon. I miss the 6.5% rate I had a couple years ago....
    yeah... i remember getting 7% on my savings account at the local credit union... (was along time ago.. early 90's, but it was nice)

  14. #14
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    Originally posted by BigSmokey


    So long? Like an election year maybe?

    Be very careful with this stuff. Politics is a topic that we are not comfortable with due to the potential for violations of our rules. Technically, we do not allow this stuff at all. If we keep this discussion within the forum rules, this thread may live to see another day.

  15. #15
    Member cursor's Avatar
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    Whelp, to get away from politics, it's pretty interesting that home prices are so high now. Interest rates are low, so people are looking for some way to get their money to work harder for them, i.e. get better than 2.25% interest on a CD. So people are putting more money into real estate speculatively, or buying a home. Of course, this drives prices up, so people who got in early can sell and make dough. But, of course, when interest rates go back up and demand for real estate goes down lots of folks who didn't buy wisely are going to lose cash. Welcome to the new bubble, folks!

    Be like Warren Buffett, buck the trends and invest only in organizations whose business model you understand.
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  16. #16
    Member BigSmokey's Avatar
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    In the north, its a buyers market in the winter.

  17. #17
    Member DaveSauce's Avatar
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    Originally posted by cursor
    I just got a loan on a used car from my credit union at 4.5% and I'm not a ho owner or anything. That's pretty wild in my opinion. Money is cheap right now! Now's a great time to buy durable goods on credit.
    hmmmm durable goods....like an edumacation?

    interest for my college loan last semester was $120 or so....silly me I haven't paid the interest yet (I will when the end of year statement comes along).

    I wish higher education was cheaper...grr....o well, lower interest rate is good, considering tuition will be going up next year, heh.....

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