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MORTGAGE RATES RISING
Personal/Opinion/informational | 11/17/2010 | NEVERBLUFFER

Posted on 11/17/2010 5:16:50 PM PST by neverbluffer

Mortgage rates have risen dramatically in the last few days. 30 YR fixed rates have increases from a low of 4% to almost 4.50% before settling down a bit today.

15 Year rates went from a low of 3.50% to almost 4% in the same 4 day period.

A lot of people are refinancing right now to take advantage of the lower rates. Dont assume that rates will head back down.

The Fedral reserve announced QE2, or quantitative easing which means that the feds are borrowing or printing money to buy their own treasuries. Normally, this would have a positive effect on interest rates, but it has come under fire as the wrong medicine to cure the ailing economy and help keep interest rates low.

As always, if you are buying a house or plan on refinancing, keep a close watch this week and next as to the best opportunity to get a good rate.


TOPICS: Business/Economy; Chit/Chat; Local News; Miscellaneous
KEYWORDS: economy; federalreserve; mortgage; obama

1 posted on 11/17/2010 5:16:57 PM PST by neverbluffer
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To: neverbluffer

Nobody wants a mortgage now. Just as a fisherman pulls the hook up and down so to the mortgage rates get jerked. It is supply and demand. The banks are awash in money, the rates are going down again.


2 posted on 11/17/2010 5:31:30 PM PST by central_va (I won't be reconstructed, and I do not give a damn.)
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To: neverbluffer

No. Rates will go up to slow...

INFLATION.

Book it.

That Beck guy was right about gold, too.


3 posted on 11/17/2010 5:34:44 PM PST by TigerClaws
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To: central_va

I agree. But, it wont be before the end of the month....


4 posted on 11/17/2010 5:34:59 PM PST by neverbluffer
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To: TigerClaws

That will happen eventually. In the short run (3-6 months) rates will improve again. However, they have increased quite a bit in the past week. It is not a trend, just response to doubts about the effects of QE2


5 posted on 11/17/2010 5:38:37 PM PST by neverbluffer
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To: TigerClaws
That Beck guy was right about gold, too.

Yep, right now he is pushing gold...several months from now he will be trying to sell.......Willard...

6 posted on 11/17/2010 5:39:41 PM PST by OBXWanderer
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To: neverbluffer

I entered my working years in the age of stagflation. A bunch of liberals thought they could do what the Roman Emperors and many other despots since could not; inflate the currency to retain political power.

It won’t work. The rats will look upon 2010 as a good election year compared to the whirlwind gathering for 2012.


7 posted on 11/17/2010 6:06:46 PM PST by Jacquerie (Great nations are born Stoic and die Epicurean.)
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To: OBXWanderer

But wouldn’t it be good to buy now if you expect it to skyrocket, then sell at the inflated prices?


8 posted on 11/17/2010 6:26:15 PM PST by tbw2 (Freeper sci-fi - "Sirat: Through the Fires of Hell" - on amazon.com)
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