Comments on: Money For Nothing, Loans for Free

By: ken

ken — Wed, 17 Dec 2008 14:38:14 +0000

Time for America to refinance again!!

What the Federal Reserve is doing could drive mortgage rates down to the 4.5% range.

This could be worth several hundred dollars a month in savings to the typical homeowner, depending on the size of the loan. In coastal states with high home values this could mean significant savings for those folks who can refinance. For buyers it makes home ownership more attractive.

I haven't been flooded with offers to refi with no out of pocket costs as I was previously whenever rates went down. Perhaps this time I will have to search out a lender instead of waiting for one to come to me.

By: Michael

Michael — Wed, 17 Dec 2008 14:14:44 +0000

This record may be tied but I predict it’ll never be broken.

Now they're talking about printing more money....

Time to buy a wheelbarrow.

By: odograph

odograph — Wed, 17 Dec 2008 13:55:06 +0000

VK, I think the economists have known that we were heading here, to the ZIRP, for about six months now. That's the reason they've been arguing about the effectiveness of the New Deal.

The fact that they don't agree ... it doesn't send us voters and citizens a real clear signal.

By: VK

VK — Wed, 17 Dec 2008 13:45:03 +0000

So how is this going to stimulate demand to levels which will kickstart the economy and get more money flowing through it? Company after company is saying that there is no immediate recovery in sight. What do central banks have in their bag to use when a bigger jolt is needed? The only alternative seems to be big tax cuts which in turn will drive up budget deficits.

By: John Burgess

John Burgess — Wed, 17 Dec 2008 04:08:21 +0000

Damn! I was hoping for a negative rate so I could get a check in the mail.

By: Brett

Brett — Wed, 17 Dec 2008 01:15:39 +0000

Here's hoping it works better for us than for the Japanese.

By: markm

markm — Wed, 17 Dec 2008 00:19:14 +0000

This record may be tied but I predict it’ll never be broken.

See, it's that kind of hard to get insight that keeps me coming back to OTB....that and the caption contests... :)