0% Rates Needed for Market Recovery: Strategist

15 years ago

http://www.cnbc.com/id/27236152

0% Rates Needed for Market Recovery: Strategist

<_snip>
U.S., European and Japanese interest rates need to be slashed to practically zero if there's any chance of a market recovery, Roger Nightingale, strategist at Pointon York, told CNBC Friday.

"I'm not talking about 50 basis points Â 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

Leverage Planner

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Comments (3)

jane__ny
15 years ago
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
dave_donhoff
Original Author
15 years ago
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!
Dave Donhoff
Leverage Planner
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jane__ny
15 years ago
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