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Thread: Mortgage Rates

  1. #1
    Senior Member Gerry Clinchy's Avatar
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    Default Mortgage Rates

    Just got this from a local mortgage lender, new rates for 6/21 ... a big jump attributed to Bernacke's hints on changing Fed policy.


    30 Year Fixed FHA Rate 4.5% 4.79%
    30 Year Fixed Conv. Rate 4.625% 4.79%
    20 Year Fixed Conv. Rate 4.625% 4.79%
    25 Year Fixed Conv. Rate 4.625% 4.9%
    15 Year Fixed Conv. Rate 3.75% 3.89%
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    Senior Member Buzz's Avatar
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    Wow, my brother-in-law just signed a refi this morning. Twenty year, 2.75%. Good thing he locked when he did I guess.

    I guess we'll see if these rates are an over reaction or not, and what they do to the housing market which had kinda heated up of later here where I live. A property went up for sale the other day, I went to look at it yesterday, and it was sold. Woulda been a good place to dig training ponds. Crap.
    "For everyone to whom much is given, of him shall much be required." -- Luke 12:48

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    Senior Member Franco's Avatar
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    Quote Originally Posted by Gerry Clinchy View Post
    Just got this from a local mortgage lender, new rates for 6/21 ... a big jump attributed to Bernacke's hints on changing Fed policy.


    30 Year Fixed FHA Rate 4.5% 4.79%
    30 Year Fixed Conv. Rate 4.625% 4.79%
    20 Year Fixed Conv. Rate 4.625% 4.79%
    25 Year Fixed Conv. Rate 4.625% 4.9%
    15 Year Fixed Conv. Rate 3.75% 3.89%
    I hope they continue to climb! Maybe I'll make a little on the money I have sitting in a Money Market account which I certainly wouldn't put in the Stock Market. Have I mentioned how much I hate the Federal Reserve
    The market tanked a couple of hundred points this week on the fears that Bin Bernake, the financial terrorist was going to quit buying bad mortgage bonds sometime in the future with money that is either being printed or stolen from Social Security. SS is the largest holder of US debt and all those that voted to raid SS to balance the budget should be placed in jail!
    Last edited by Franco; 06-21-2013 at 04:43 PM.
    The Libertarian Party believes that all persons are entitled to keep the fruits of their labor. A call for the repeal of the income tax, abolishment of the Internal Revenue Service and all federal programs and services not required under the U.S. Constitution. We support the passage of a "Balanced Budget Amendment" to the U.S. Constitution, provided that the budget is balanced exclusively by cutting expenditures, and not by raising taxes. LP.org

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    Senior Member Buzz's Avatar
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    Quote Originally Posted by Franco View Post
    I hope they continue to climb! Maybe I'll make a little on the money I have sitting in a Money Market account which I certainly wouldn't put in the Stock Market. Have I mentioned how much I hate the Federal Reserve
    The market tanked a couple of hundred points this week on the fears that Bin Bernake, the financial terrorist was going to quit buying bad mortgage bonds sometime in the future with money that is either being printed or stolen from Social Security. SS is the largest holder of US debt and all those that voted to raid SS to balance the budget should be placed in jail!

    Just a quick question. From what you know about accounting principles, if the feds need to borrow to pay back SS, does that increase the debt? Or does it transfer the debt from one account to another?

    Not trying to say what they did was a good thing. But I don't believe that is as dire a situation as some think. If we ran a surplus in that area, where would you suggest they'd have put it?
    "For everyone to whom much is given, of him shall much be required." -- Luke 12:48

    Raven - Moneybird's Black Magic Marker***
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    Mick - Moneybird's Jumpin' Jack Flash***
    (Clubmead's Road Warrior x Oakdale Whitewater Devil Dog)
    Peerless - Moneybird's Sole Survivor
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    Senior Member Franco's Avatar
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    Quote Originally Posted by Buzz View Post
    Just a quick question. From what you know about accounting principles, if the feds need to borrow to pay back SS, does that increase the debt? Or does it transfer the debt from one account to another?

    Not trying to say what they did was a good thing. But I don't believe that is as dire a situation as some think. If we ran a surplus in that area, where would you suggest they'd have put it?
    If the Feds borrowed from where to payback SS?
    People go to jail for transfering one bad acount to another hoping the paperwork never catches up with them.

    Ran a surplus in which area?
    The Libertarian Party believes that all persons are entitled to keep the fruits of their labor. A call for the repeal of the income tax, abolishment of the Internal Revenue Service and all federal programs and services not required under the U.S. Constitution. We support the passage of a "Balanced Budget Amendment" to the U.S. Constitution, provided that the budget is balanced exclusively by cutting expenditures, and not by raising taxes. LP.org

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    Senior Member Buzz's Avatar
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    Quote Originally Posted by Franco View Post
    If the Feds borrowed from where to payback SS?
    People go to jail for transfering one bad acount to another hoping the paperwork never catches up with them.

    Ran a surplus in which area?

    SS ran a surplus. So the gov puts the money other places and throws a note that promises to pay back with interest on to the stack.

    I still wonder where folks would have liked to see that money go? Franco, would you have supported putting it on Wall Street?
    "For everyone to whom much is given, of him shall much be required." -- Luke 12:48

    Raven - Moneybird's Black Magic Marker***
    (Esprit's Power Play x Trumarc's Lean Cuisine)
    Mick - Moneybird's Jumpin' Jack Flash***
    (Clubmead's Road Warrior x Oakdale Whitewater Devil Dog)
    Peerless - Moneybird's Sole Survivor
    (Two River's Lucky Willie x Moneybird's Black Magic Marker)

  7. #7
    Senior Member Franco's Avatar
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    Quote Originally Posted by Buzz View Post
    SS ran a surplus. So the gov puts the money other places and throws a note that promises to pay back with interest on to the stack.

    I still wonder where folks would have liked to see that money go? Franco, would you have supported putting it on Wall Street?
    I thought that is what you meant but wasn't sure. The SS surplus should have stayed in SS. Gingrich and Clinton had to know that the Baby Boomers were getting closer to retirement.

    Definitly not invested in Wall St. They are still trying to lobby for ways to steal money from SS, investing it would have been too easy for them.


    Individuals go to jail for what our politicians get reelected to do! The day Congress decided to cede monetary policy to international bankers is the day the the really big theft began. Of the trillions stolen from the housing crisis, how many bankers were presecuted? They lobbied for deregulated credit default swaps all the while the Federal Reserve aided the theft by keeping interest rates artificially low fueling the pending crisis.

    SS should have never been touched but as the polls show, most are more concered with voting on social issues than fiscal. Just one reason I fear our politicians more than any rag headed terrorist.
    Last edited by Franco; 06-21-2013 at 06:34 PM.
    The Libertarian Party believes that all persons are entitled to keep the fruits of their labor. A call for the repeal of the income tax, abolishment of the Internal Revenue Service and all federal programs and services not required under the U.S. Constitution. We support the passage of a "Balanced Budget Amendment" to the U.S. Constitution, provided that the budget is balanced exclusively by cutting expenditures, and not by raising taxes. LP.org

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    Quote Originally Posted by Franco View Post
    .................................................. .................................................. .................................................. ..........................Just one reason I fear our politicians more than any rag headed terrorist.
    Good sentence. Says a lot in a few words.
    charly

    There ought to be one day -- just one -- when there is open season on Congressmen.
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    Just one reason I fear our politicians more than any rag headed terrorist.

    No doubt about that!!
    Remember it's the politicians NOT the rag headed terrorists who would like to disarm us. If we allow that to happen we deserve what the politicos will do to us; and should get no Vaseline to ease the pain

  10. #10
    Senior Member luvmylabs23139's Avatar
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    Quote Originally Posted by Buzz View Post
    SS ran a surplus. So the gov puts the money other places and throws a note that promises to pay back with interest on to the stack.

    I still wonder where folks would have liked to see that money go? Franco, would you have supported putting it on Wall Street?
    Held under lock and key!
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