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Message
rate cut by Feds just announced
Posted on 3/3/20 at 9:07 am
Posted on 3/3/20 at 9:07 am
The Federal Reserve cut interest rates by 50 basis points in an impromptu meeting on Tuesday as a response to the coronavirus.
The Fed said the “fundamentals of the U.S. economy remain strong” but that the coronavirus “poses evolving risks to economic activity.”
Fed Chairman Jerome Powell will be holding a press conference at 11 a.m.
The Fed said the “fundamentals of the U.S. economy remain strong” but that the coronavirus “poses evolving risks to economic activity.”
Fed Chairman Jerome Powell will be holding a press conference at 11 a.m.
9
Posted on 3/3/20 at 9:08 am to Jjdoc
RIP my Friday refi lock-in
Posted on 3/3/20 at 9:12 am to Thib-a-doe Tiger
There’s been so many REFIs, rates most likely won’t drop significantly here.
Posted on 3/3/20 at 9:13 am to LSUcam7
We set a lock record on Friday and we doulbed it Monday. REFI market is full on mooning right now.
Posted on 3/3/20 at 9:24 am to wutangfinancial
What’s the impact to mortgage rates? Selling and about to build a house.
Posted on 3/3/20 at 9:31 am to PorkSammich
The 10 year is the benchmark we care about here. The bond market has already priced this in and that's why we saw everybody with docs rush in to lock rates the past few days. Really, it was all week.
The 10 and 30 year are going lower, this is inevitable. Especially with the dollar strengthening. Don't fight the Fed, and I wouldn't be in too big of a rush.
The 10 and 30 year are going lower, this is inevitable. Especially with the dollar strengthening. Don't fight the Fed, and I wouldn't be in too big of a rush.
Posted on 3/3/20 at 9:33 am to wutangfinancial
quote:
and I wouldn't be in too big of a rush.
This is the 3rd time I've screwed myself locking in. I always seem to be financing during peak volatility
Posted on 3/3/20 at 9:34 am to Jjdoc
quote:Well damn
by 50 basis points
Posted on 3/3/20 at 9:43 am to Jjdoc
quote:
The Federal Reserve cut interest rates by 50 basis points
Posted on 3/3/20 at 9:55 am to Jwodie
(no message)
This post was edited on 12/27/20 at 10:03 pm
Posted on 3/3/20 at 10:15 am to Jwodie
There are 100 basis points in 1%, So, 50bps is half of one percent.
BTW, Jerome Powell can frick up a wet dream.
BTW, Jerome Powell can frick up a wet dream.
Posted on 3/3/20 at 10:24 am to Jjdoc
On one hand, government is telling us this cornonavirus is NBD, and the markets are overreacting.
On the other hand, we get an unprecedented emergency half-point rate cut.
On the other hand, we get an unprecedented emergency half-point rate cut.
Posted on 3/3/20 at 10:40 am to LSUFanHouston
quote:
On one hand, government is telling us this cornonavirus is NBD, and the markets are overreacting.
On the other hand, we get an unprecedented emergency half-point rate cut.
Don't forget China/Japan ground to a halt and it isn't clear when they will recover to full strength.
Posted on 3/3/20 at 10:43 am to GenesChin
Powell talking is never good, for whatever reason
Posted on 3/3/20 at 11:36 am to CamdenTiger
quote:
Powell talking is never good, for whatever reason
Because his credibility is dwindling. You can't say one thing and do another for over 2 years and think people believe him. They do not like the data they are getting from the EU and Asia. That's my guess. Rate cuts are imminent at every single major central bank.
Posted on 3/3/20 at 12:08 pm to Jjdoc
So should I be looking to refi?
Currently at 4.25
Currently at 4.25
Posted on 3/3/20 at 12:23 pm to wutangfinancial
The government as a whole is doing that double talk. Seems he is taking cues from 45. Every thing known about economic data says this is panic or incompetence. Either say the fundamentals are not good and be ready for an adjustment or say things are good. There should be no reason to lower rates with the market a an all time high. That doesn't make sense.
Posted on 3/3/20 at 12:25 pm to Lawricks33
quote:
There should be no reason to lower rates with the market a an all time high. That doesn't make sense.
Rates are not being cut because of the recent market.
Posted on 3/3/20 at 1:07 pm to BoogaBear
Yes definitely look into it.
As I posted in another thread
“Just locked in at 2.625% on a conventional 15 year with $1400 in closing and only appraisal out of pocket.
Down from 4.125 on a 30 year FHA.
This is with a bad middle score in the middle 600s.”
My local broker just blew away Quicken Loans. Same guy who did my OG mortgage back in 2016. Quicken was 2.99 5.9k in closing.
As I posted in another thread
“Just locked in at 2.625% on a conventional 15 year with $1400 in closing and only appraisal out of pocket.
Down from 4.125 on a 30 year FHA.
This is with a bad middle score in the middle 600s.”
My local broker just blew away Quicken Loans. Same guy who did my OG mortgage back in 2016. Quicken was 2.99 5.9k in closing.
Posted on 3/3/20 at 1:32 pm to LSURep864
Powell talk and the market drops 900 points. Trump talks and it comes back 250.
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