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Message
re: Interest Rates
Posted on 9/21/12 at 9:12 pm to BallyHOO
Posted on 9/21/12 at 9:12 pm to BallyHOO
The FED is purchasing long-term bonds to try to lower interest rates, but the banks are not passing on all of the savings to the consumer.
If they were, then 30 year rates would be 2.8%. Normally the banks charge 0.74, but they are charging 1.4. That's a difference of almost .7 which would bring a 3.5 rate to 2.8.
Banks are ripping people off with the 3.5% rate.
If they were, then 30 year rates would be 2.8%. Normally the banks charge 0.74, but they are charging 1.4. That's a difference of almost .7 which would bring a 3.5 rate to 2.8.
Banks are ripping people off with the 3.5% rate.
1
Posted on 9/22/12 at 8:13 am to djmicrobe
I went ahead and locked in at 3.375 about 2 weeks ago.
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