Fed cuts interest rates again..

[57stratdawg]

To basically 0%. Also, back to quantitative easing.

https://apple.news/AJ3LQlfbvR92s-tX46Oqvvw

 

[archdog]

I don't know much, but that makes zero sense. The interest rates value is one of the few moves we have in our tool belt for "financial" issues. This is not a financial situation. This is a workforce issue that will impact the financial market extensively through shutdowns, delay on products, etc. I wish they would have left the interest rates where they were 30 days ago.

 

[ronpolk]

I don't know much, but that makes zero sense. The interest rates value is one of the few moves we have in our tool belt for "financial" issues. This is not a financial situation. This is a workforce issue that will impact the financial market extensively through shutdowns, delay on products, etc. I wish they would have left the interest rates where they were 30 days ago.

I agree. This won’t solve any problem at all. Just my take, if this were not an election year the feds wouldn’t be going as extreme to try and keep the stock market up. Trump’s path back to the White House is easier with a better stock market.

 

[DoggieDaddy13]

The Fed! Making America Great!

 

[BoDawg.sixpack]

If the country is shutdown much further than it already is then it will become a "financial issue" very quickly. At that point you'll have two very large problems instead of just one.

 

[57stratdawg]

I don’t know how much it’s really going to encourage people anyway. I can’t imagine very many people rushing out to buy houses in the next few weeks. Maybe they’re planning on leaving them there through the summer.

 

[Shmuley]

^^^ This. I wouldn't give two ***** to be a car salesman right now.

 

[57stratdawg]

No doubt. And we’re in the car market. Tempted to call them tomorrow to get a deal laid out. Then call them again in 2 weeks and see if those numbers change.

Good luck hitting those monthly and quarterly sales figures by 3/31..

 

[Dogs]

I don't know much, but that makes zero sense. The interest rates value is one of the few moves we have in our tool belt for "financial" issues. This is not a financial situation. This is a workforce issue that will impact the financial market extensively through shutdowns, delay on products, etc. I wish they would have left the interest rates where they were 30 days ago.

Looks like the Dow Futures agree with you, down 600 points since he made that announcement.

 

[Ibdancin]

I don’t know how much it’s really going to encourage people anyway. I can’t imagine very many people rushing out to buy houses in the next few weeks. Maybe they’re planning on leaving them there through the summer.

The housing market will increase. In fact, a lot of people will refinance.

 

[Cooterpoot]

If you're having a financial hardship due a shutdown, you can pull equity at a very, very low rate.

 

[Ibdancin]

Looks like the Dow Futures agree with you, down 600 points since he made that announcement.

Most likely due to it becoming a more serious situation if the USA is taking these steps.

You will see a DOW at near 40,000 when this blows over.

 

[Cooterpoot]

The housing market will increase. In fact, a lot of people will refinance.

But how will that appraisal go? Folks don't want strangers in their homes and appraisers will be scared too. Going to be interesting.

 

[thatsbaseball]

I think right now the markets are more focused on what Dr. Fauci said this AM than the interest rate. An indefinite shutdown would call all bets off.

 

[Cooterpoot]

I think right now the markets are more focused on what Dr. Fauci said this AM than the interest rate. An indefinite shutdown would call all bets off.

There's never going to be a total shutdown. The question is, will the stock market cease trading...

 

[The Peeper]

I've bought and sold 4 houses and don't ever remember an appraiser entering my house, I've just been notified by the bank that it passed the appraisal/loan value. I'm going to start shopping rates, lock it in and they can do the paperwork whenever

 

[Apoplectic_Objurgator]

the market saw the cut 10 days ago as panic - i expect they’ll see this move the same. since a treatment is still 18 months away the market is searching for footing.

i’m waiting until the market drops another 25% before i start tricking back in. what’s your number?

 

[HWY51dog]

A refinance appraisal is different than when you buy. Definitely time to look at refinancing.

Needless to say I’m watching the housing market closely. So far here in Desoto County things are still moving along. The next 5-7 days will determine a lot.

 

[ronpolk]

I've bought and sold 4 houses and don't ever remember an appraiser entering my house, I've just been notified by the bank that it passed the appraisal/loan value. I'm going to start shopping rates, lock it in and they can do the paperwork whenever

I think it can depend on the type of mortgage. An FHA or VA mortgage requires the appraiser to check things in the house, I think so anyway.

 

[TheDawgInMe]

If the country is shutdown much further than it already is then it will become a "financial issue" very quickly. At that point you'll have two very large problems instead of just one.

This is not a financial crisis. This is just a temporary moment of time.

 

[gymdawg.sixpack]

So maybe you can lend advice. I bought a home 6 months ago. I think we locked in at 3.7%. Should i refi if the rates are at say 1%?

 

[HWY51dog]

So maybe you can lend advice. I bought a home 6 months ago. I think we locked in at 3.7%. Should i refi if the rates are at say 1%?

Most lenders won’t refinance the same loan with 180 days of closing. You will have to change lenders most likely. Check with your lender first.

 

[Msubulldogfan1]

Wouldn’t mind if they suspended mortgage payments for a few months

 

[Shamoan]

Dow bout to have a huge boner monday

 

[missouridawg]

Wouldn’t mind if they suspended mortgage payments for a few months

I recently purchased a business and owe a bank a **** ton of money. Hope they let me miss a few payments, cause something tells me that the next 3-6 months are going to suck ***.

 

[GTAdawg]

Quite the opposite I’m afraid

 

[Shamoan]

Well see. Should be a big day, followed by more roller coaster

 

[philduckworth]

the market saw the cut 10 days ago as panic - i expect they’ll see this move the same. since a treatment is still 18 months away the market is searching for footing.

i’m waiting until the market drops another 25% before i start tricking back in. what’s your number?

15%. You can't time the bottom

 

[Maroonbulldog]

To basically 0%. Also, back to quantitative easing.


https://apple.news/AJ3LQlfbvR92s-tX46Oqvvw

I posted this link in another thread but thought y’all would like to see this explanation- I’m a lender in Starkville and refinances are going nuts right now

https://www.marketwatch.com/story/h...-rate-cut-means-for-mortgage-rates-2020-03-03

 

[Msubulldogfan1]

Quite the opposite I’m afraid

Might circuit breaker off rip again.

Got some Uber puts that would like that. If the market does start off hot, that will be the time to buy more puts for sure, cheaper premium.

 

[Apoplectic_Objurgator]

Might circuit breaker off rip again.

Got some Uber puts that would like that. If the market does start off hot, that will be the time to buy more puts for sure, cheaper premium.

It already hit the pre market circuit breaker

 

[jethreauxdawg]

The Fed! Making America Socialist!

FIFY

 

[CoolDawg]

This is not a financial crisis. This is just a temporary moment of time.

You are crazy as hell if you think this isn't a financial crisis. Tell that to some of the Starkville restaurant owners and employees who will be out of business before August. Shutting down most commerce for several weeks will lead to a huge number of business failures and high unemployment. There will be economic reverberations for years!

 

[Maroonbulldog]

Lenders won’t refinance within 6 months because they will have to “buy back” the loan. They will loser serious money if you payoff within6 months.

 

[Maroonbulldog]

VA and FHA have streamlined refinances available that do not require new appraisals.

 

[Msubulldogfan1]

Opened to a circuit breaker immediately. ***** cray out there

 

[Cooterpoot]

Mortgage rates actually increased significantly today. Banks aren't crazy.

 

[Shamoan]

Quite the opposite I’m afraid

unfortunately, you were right and i was very wrong....

 

[Msubulldogfan1]

It was nice for me. Sold my Uber put for a 80% gain.

 

[johnson86-1]

Mortgage rates actually increased significantly today. Banks aren't crazy.

It's because most banks have more refinance business than they can process. You are essentially paying to be in the front of the line on refinancing. In a month or so, you will probably see rates come down.