IDK, it seemed a bit desperate on the Fed's part, almost as if they either "know" something that Joe Blow does not, or that they intend to panic what's left that has not been panic-ed.
I agree, seemed like they spooked the market with rolling out 0% interest and up to $700B in QE, anytime they did something like this in the past (this was the biggest ever) the market would skyrocket, this is the first I've seen where it had the opposite effect
I was listening to one of the talking heads before I went to work. Said, NO, the Fed is not out of bullets! There's plenty more that they can do. I don't remember there ever being zero reserve requirements at the Fed before, I could be wrong. It is intended to free up capital to be loaned -- I didn't know that there was a demand crunch. Well, I guess that they can do more QE ad infinitum.
Well, fed rate to 0 and I have some down time, guess I'll check into a refi and pull some equity out of the house for improvements...
It will be fine... don't try to make sense of this situation. Here is what you can be certain of...the money machine will continue on. This panic and nothing more.
i thought about this yesterday as well. looked... last week rates jumped back up to basically where i'm at now, i assume on all this panic horseshit. assuming they go back down into the mid 2's at some point here in the next few weeks, what's your process for this? i've never done it before. what are the fees associated? what do you end up refi'ing for... the whole value of your house or just what you owe? who you going with potentially for yours? we delt with a lender we knew personally when getting our mortgage, the rate was decent, so i didn't really get to shop that market much.
BH B-shares looking like a good long term play. Buffet is sitting on $125B in cash and is likely just itching to scoop up some more companies or loan it out with favorable terms.....
I wish, we're on a hill so maybe a deck on the roof which needs replacing anyway along with a ring turret.
Been a while but basically it wasn't much different than a normal mortgage. I'd call Geoff May or even your local bank and do some rate shopping online. They'll all have listed how many points they want and so on.
Not a bad plan. IIRC, that's what Dave did (borrowed from his FIL and bought a stock). The profit gave him the seed money to open a burger shop. The rest is square burger history.