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| http://www.cnbc.com/id/27236152
0% Rates Needed for Market Recovery: Strategist <_SNIP>
"I'm not talking about 50 basis points … we really have to take rates down to effectively zero," Nightingale said, pointing out that U.S. rates "got down to one percent in the last recession and that wasn't a bad one."
Global Credit Black-Tar Heroin, anyone? Dave Donhoff
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Follow-Up Postings:
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| I'm hoping! I just paid off a 7.5% 30-yr with a variable rate now at 4.2%. I'm hoping that rate only goes down. This whole business makes me nervous but I couldn't ignore the lower rate. I hope I didn't make a mistake, Jane |
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- Posted by dave_donhoff (dwdonhoff@hotmail.com) on Sun, Oct 19, 08 at 14:43
| Hi Jane, If you have the constitution to weather the emotional-coaster of the volatile markets... I think that financially you just made an excellent move! Rates are going to be depressed quite a bit, for quite a while... but that's "ON AVERAGE." In the moment there may be great drama. Have an awesome weekend! |
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| Hey Dave. I've never been a gambling gal, but I couldn't resist. We plan to put the house up for sale in Spring and wanted to refinance to do repairs. That's when I found the interest on variable so low. Decided to pay off the mortage with the line-of-credit we never used. I watch the interest rate each day, at the first sign of trouble, I'll lock it in. Jane |
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