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This is huge. Fed slashes rates nearly to zero
Posted by: Lemon Drop
Date: March 15, 2020 04:10PM
Lots of other drastic measures and loosening up rules for banks
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Re: This is huge. Fed slashes rates nearly to zero
Posted by: hal
Date: March 15, 2020 04:14PM
they already were at nearly zero
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Re: This is huge. Fed slashes rates nearly to zero
Posted by: space-time
Date: March 15, 2020 04:22PM
now if they go negative...
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Re: This is huge. Fed slashes rates nearly to zero
Posted by: Lemon Drop
Date: March 15, 2020 04:28PM
We haven't had a drop in the discount rate this drastic since dec 2008.
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Re: This is huge. Fed slashes rates nearly to zero
Posted by: Lemon Drop
Date: March 15, 2020 05:07PM
And... futures market now open. Dow down 800
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Re: This is huge. Fed slashes rates nearly to zero
Posted by: bfd
Date: March 15, 2020 05:47PM
Stock market crashes tomorrow like it's 1929. There's just been too much bad news this weekend. Get ready for the dystopian future you've all read about…


…and say bye-bye to your 401Ks.

THAT's why they've closed all the bars!!!
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Re: This is huge. Fed slashes rates nearly to zero
Posted by: SKYLANE
Date: March 15, 2020 06:02PM
How does this affect mortgage loans, say a potential re-fi?
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Re: This is huge. Fed slashes rates nearly to zero
Posted by: mattkime
Date: March 15, 2020 06:06PM
Quote
SKYLANE
How does this affect mortgage loans, say a potential re-fi?

Its hard to say. In theory they should go down but if demand exceeds supply then rate might not lower.

I didn't see rates go down much after the previous cut.

---

I heard lower interest rates right now is like wringing out your soaked tshirt in the pouring rain



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Re: This is huge. Fed slashes rates nearly to zero
Posted by: Lemon Drop
Date: March 15, 2020 06:10PM
Good luck getting a mortgage lender on the phone, they are swamped. Cheapest option is often to negotiate a lower rate with your current lender.

Last time this happened I got a letter from my lender offering a no doc, no fee refi at a lower rate. They did that to keep customers. Hope that option becomes available this time around too.
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Re: This is huge. Fed slashes rates nearly to zero
Posted by: Filliam H. Muffman
Date: March 15, 2020 07:00PM
How low does the Fed rate have to go before the banks will pay me to take out a home loan?



In tha 360. MRF User Map
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Re: This is huge. Fed slashes rates nearly to zero
Posted by: rjmacs
Date: March 16, 2020 02:26PM
Glad that now that the markets have spun out again, and we get closer to the debt crisis bubble bursting, the Fed undermined its only real lever before we REALLY need it....

Jay Powell is turning out to be a bit of a spineless wimp.



rj
AKA
Vreemac, Moth of the Future
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