Intrest Rates drop again.

BigSmokey · 02-11-04, 04:05 PM

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.

KaHNZa · 02-11-04, 04:19 PM

Dropping interest rates is like putting a bandaid on a stab wound.

hkgonra · 02-11-04, 05:39 PM

I'll take all I can get.

cursor · 02-11-04, 06:57 PM

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.

deRusett · 02-11-04, 06:58 PM

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

Top Hat Theater · 02-11-04, 07:27 PM

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

~THT

BigSmokey · 02-11-04, 07:43 PM

Quote:

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?

KaHNZa · 02-11-04, 08:29 PM

Interest rates are lowered in an effort to bolster the economy. But doing so only helps a little bit and only for so long.

NewbiePerson · 02-11-04, 08:40 PM

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....

Malpine Walis · 02-11-04, 08:41 PM

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.

BigSmokey · 02-12-04, 01:36 PM

Quote:

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?

hkgonra · 02-12-04, 02:28 PM

They have been low since 2001.

WyrmMaster · 02-12-04, 04:25 PM

Quote:

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)

Malpine Walis · 02-12-04, 10:34 PM

Quote:

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.

cursor · 02-12-04, 10:57 PM

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.

BigSmokey · 02-13-04, 11:05 AM

In the north, its a buyers market in the winter.

DaveSauce · 02-13-04, 02:12 PM

Quote:

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.....

02-11-04, 04:05 PM	Thread Starter #1
BigSmokey Member Join Date: Oct 2003 Location: Bloomington IL	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.
	QUOTE Thanks

02-11-04, 04:19 PM	#2
KaHNZa Senior Member Join Date: Feb 2001 Location: West Central MN	Dropping interest rates is like putting a bandaid on a stab wound.
	QUOTE Thanks

02-11-04, 05:39 PM	#3
hkgonra Member Join Date: Aug 2001 Location: West TN.	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 My Heatware
	QUOTE Thanks

02-11-04, 06:57 PM	#4
cursor Member Join Date: Sep 2002 Location: Seattle, WA USA	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. __________________ This space intentionally left blank.
	QUOTE Thanks

02-11-04, 06:58 PM	#5
deRusett Member Join Date: Jul 2002 Location: Midland, Ontario	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
	QUOTE Thanks

Intrest Rates drop again.

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02-11-04, 07:27 PM	#6
Top Hat Theater Member Join Date: Jul 2002 Location: Lost in Thought	And bond prices go up which drives money into the stock market...woohoo! ~THT
	QUOTE Thanks

02-11-04, 08:29 PM	#8
KaHNZa Senior Member Join Date: Feb 2001 Location: West Central MN	Interest rates are lowered in an effort to bolster the economy. But doing so only helps a little bit and only for so long.
	QUOTE Thanks

02-11-04, 08:40 PM	#9
NewbiePerson Member Join Date: Nov 2001	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....
	QUOTE Thanks

02-11-04, 08:41 PM	#10
Malpine Walis Disabled Join Date: Nov 2001 Location: Banned Camp	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.
	QUOTE Thanks

02-12-04, 02:28 PM	#12
hkgonra Member Join Date: Aug 2001 Location: West TN.	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
	QUOTE Thanks

02-12-04, 10:57 PM	#15
cursor Member Join Date: Sep 2002 Location: Seattle, WA USA	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. __________________ This space intentionally left blank.
	QUOTE Thanks

02-13-04, 11:05 AM	Thread Starter #16
BigSmokey Member Join Date: Oct 2003 Location: Bloomington IL	In the north, its a buyers market in the winter.
	QUOTE Thanks