Fed. Makes full Half Point int. rate reduction.

[Mark-DuCo]

Glad mine is locked in at 2.62%.

I wish I could have locked in when I built, but no bank would do a fixed rate mortgage on my house. It is considered an unconventional building style because it is a berm style or in ground house.

 

[HoosierLife]

There will be another 50 basis points drop in November. They have to keep going, no matter who wins the election.

 

[rbhargan]

Keep in mind that a change in the Fed discount rate does not necessarily carry over into the commercial market.

 

[smokingman]

This may help some home buyers. And car buyers.


Edit: strange this happened just before the election.

It was a promise made by Biden early last summer(reduced rates).

The FED is just as political as CNN or MSN, it just hides the fact better.

 

[patience0830]

All the answers you desire and more are found on post #28, you're welcome

FTFY

 

[jsx1043]

There is no “soft landing,” this is all just theater before the election to pump up CommieLa’s numbers and fool people.

It’s all made up, the fiat money system is finished. All the players know it, and there’s no getting away from the crash, only positioning yourself better if you have the ability to do so, which is why Buffett, et al. have sold off billions of dollars worth of stock in the last 60 days to get out from under “bad” investments in virtual money, before the “new” money comes in with digital currency. It’s all been fake since going off the gold standard in 1971. There’s not even enough USD in the entire globe to pay off the interest on the national debt, let alone actually being able to pay it off. That’s not how the game is played.

It’s all about power and control, and those in power and control pull the levers for their own benefit and do what it takes for them to remain in power.

 

[XDdreams]

I can't wait to see how much money the big banks get in bailouts this time.

Those ceo's and high other high level executives haven't had proper bonuses since the last crash and bailout.

 

[Mij]

View attachment 381242

There is no “soft landing,” this is all just theater before the election to pump up CommieLa’s numbers and fool people.

It’s all made up, the fiat money system is finished. All the players know it, and there’s no getting away from the crash, only positioning yourself better if you have the ability to do so, which is why Buffett, et al. have sold off billions of dollars worth of stock in the last 60 days to get out from under “bad” investments in virtual money, before the “new” money comes in with digital currency. It’s all been fake since going off the gold standard in 1971. There’s not even enough USD in the entire globe to pay off the interest on the national debt, let alone actually being able to pay it off. That’s not how the game is played.

It’s all about power and control, and those in power and control pull the levers for their own benefit and do what it takes for them to remain in power.

Anyone that follows the silver thread knows I’ve been bad mouthing the Fed. since I’ve been on here.

It is all about control, control the money. That is why the govt. took control of gold. If TPTB let gold go to its true value they could not control our national and personal finances.

Yes, the silver and gold markets are artificially manipulated.

I’ll say again, no government in the history of the world has survived that depends on fiat currency. And the time we live in is the first time in history that all the world’s governments are using fiat as currency.

Stack it high, wide, and deep. The time is coming. Of course JMO.

 

[Leo]

Anyone that follows the silver thread knows I’ve been bad mouthing the Fed. since I’ve been on here.

It is all about control, control the money. That is why the govt. took control of gold. If TPTB let gold go to its true value they could not control our national and personal finances.

Yes, the silver and gold markets are artificially manipulated.

I’ll say again, no government in the history of the world has survived that depends on fiat currency. And the time we live in is the first time in history that all the world’s governments are using fiat as currency.

Stack it high, wide, and deep. The time is coming. Of course JMO.

The Gold standard was cumbersome and demanded real discipline, but it did have it's own check and balance system. Our Congress, who is more drunk on money than any Jack Daniels drunk can be, has proven to be too undisciplined to handle the people's money. The Fed bought Congress. Since 1972 Congress has bought the Fed. Lovely.

 

[sixGuns]

View attachment 381242

There is no “soft landing,” this is all just theater before the election to pump up CommieLa’s numbers and fool people.

It’s all made up, the fiat money system is finished. All the players know it, and there’s no getting away from the crash, only positioning yourself better if you have the ability to do so, which is why Buffett, et al. have sold off billions of dollars worth of stock in the last 60 days to get out from under “bad” investments in virtual money, before the “new” money comes in with digital currency. It’s all been fake since going off the gold standard in 1971. There’s not even enough USD in the entire globe to pay off the interest on the national debt, let alone actually being able to pay it off. That’s not how the game is played.

It’s all about power and control, and those in power and control pull the levers for their own benefit and do what it takes for them to remain in power.

I am living below my means and trying to scrimp every penny to have as much down for buying a home later next year to offset these "fun" rates. Probably too far off to ask for advice, but is that a bad idea? On a side note I'm trying to learn about "real" investing, if that's even a thing and I don't know where to start. Moderate risk tolerance and I am not afraid to read technical stuff. I do not want to pay a broker. Do I not know enough of what I do not know to know?

Cheers.

 

[Super Bee]

I am living below my means and trying to scrimp every penny to have as much down for buying a home later next year to offset these "fun" rates. Probably too far off to ask for advice, but is that a bad idea? On a side note I'm trying to learn about "real" investing, if that's even a thing and I don't know where to start. Moderate risk tolerance and I am not afraid to read technical stuff. I do not want to pay a broker. Do I not know enough of what I do not know to know?

Cheers.

I have a saying at the dealership. Buy the RV, date the rate. If you find a house, buy it, I do not see prices going down anytime soon. You can always refinance if/when rates go back down.

 

[Leo]

I am living below my means and trying to scrimp every penny to have as much down for buying a home later next year to offset these "fun" rates. Probably too far off to ask for advice, but is that a bad idea? On a side note I'm trying to learn about "real" investing, if that's even a thing and I don't know where to start. Moderate risk tolerance and I am not afraid to read technical stuff. I do not want to pay a broker. Do I not know enough of what I do not know to know?

Cheers.

First, Bravo for being wise enough to have the self discipline to live in a way that leaves some to save. It is tough times for that, but as you prove, it can be done. I don't know if any investment will benefit you as much as being debt free.

It is always best to owe less. Figure all the angles of every transaction a see how it fits your goal. For example, in the late 70's when everyone was spending thousands in costs to refinance their 15% FHA mortgages, I instead put that fee money against the principle, taking 5 years off my 30 year mortgage. During the Reagan years I had enough equity to get a 9% conventional. I kept throwing whatever I could, even if it was just $50 extra against the principle. Paid off the 30 year mortgage in 11. The last mortgage was paid off in 6. Amortization calculators are a great tool to figure all the angles. They are free online. My first one I had to pay the bank to print one out for me, but it was a tool that was worth the price.

It is a VERY few that know how to make money borrowing money, including the professional investment types that only really make money handling yours. The banks are pushing HELOC service, saying you can invest and get huge returns. Maybe you can, maybe you cannot, but they make money either way, and get your house if you don't do well. Notice that all these experts make money if you are winning or losing. I am an absolute moron with investments, but I have only one year that I lost principle, and I lost 3%. That same year Merrill Lynch lost me 35%, and eventually more than that which never came back.

Every time some 28 year old "expert" in a finance office with $300 Porsche sunglasses and an over due student loan quotes me about performance since the great depression, I am torn between laughing and backhanding him. How about quote since 2006. How about quote the last 5 years? Now take your fees out of anything that looks acceptable. Lots less bragging at that point.

Your mileage may vary, but I am not trusting anything new until after January 2025

 

[sixGuns]

I have a saying at the dealership. Buy the RV, date the rate. If you find a house, buy it, I do not see prices going down anytime soon. You can always refinance if/when rates go back down.

I have heard this before and I have also heard it is a common sales tactic of realtors. I am not saying it is wrong per se, but that maybe caveat emptor applies? I only have entertained this "philosophy" as an idea as where to park for maximum return. I live as low as possible for maximum savings and would like to "park" money to where it has the most benefit. Again, I am not an expert and have probably read too much speculation without critical analyzation. Drinking from a fire hose if you will. I guess what I'm getting at is... home appreciation vs. interest cost vs. downpayment size vs. mortgage length. I have heard that, depending on many factors, it may be better to rent and invest given the current market rates than buy. Essentially a better "return" in not buying in this current state. I could be totally wrong and I am not lambasting your comment.

First, Bravo for being wise enough to have the self discipline to live in a way that leaves some to save. It is tough times for that, but as you prove, it can be done. I don't know if any investment will benefit you as much as being debt free.

It is always best to owe less. Figure all the angles of every transaction a see how it fits your goal. For example, in the late 70's when everyone was spending thousands in costs to refinance their 15% FHA mortgages, I instead put that fee money against the principle, taking 5 years off my 30 year mortgage. During the Reagan years I had enough equity to get a 9% conventional. I kept throwing whatever I could, even if it was just $50 extra against the principle. Paid off the 30 year mortgage in 11. The last mortgage was paid off in 6. Amortization calculators are a great tool to figure all the angles. They are free online. My first one I had to pay the bank to print one out for me, but it was a tool that was worth the price.

It is a VERY few that know how to make money borrowing money, including the professional investment types that only really make money handling yours. The banks are pushing HELOC service, saying you can invest and get huge returns. Maybe you can, maybe you cannot, but they make money either way, and get your house if you don't do well. Notice that all these experts make money if you are winning or losing. I am an absolute moron with investments, but I have only one year that I lost principle, and I lost 3%. That same year Merrill Lynch lost me 35%, and eventually more than that which never came back.

Every time some 28 year old "expert" in a finance office with $300 Porsche sunglasses and an over due student loan quotes me about performance since the great depression, I am torn between laughing and backhanding him. How about quote since 2006. How about quote the last 5 years? Now take your fees out of anything that looks acceptable. Lots less bragging at that point.

Your mileage may vary, but I am not trusting anything new until after January 2025

What really pisses me off is that having no debt looks bad for lendors. I guess when you're in the "wealthy" category they look differently, but when you a pleb trying to break free... oh no no no, can't have that. Who the hell thought this up? As I said I am below my means very close to debt free, roughly 15 grand (used car). I am old enough to know better, but still too young to care... in terms of human years, but I do care and missed 20 years direct from college. I feel like any tool can take an online course and be a financial advisor. The kid in sunglasses and exotic depreciating asset is very accurate. My earliest target was spring 2025, but I'm holding fast. I come from a technical background and for some reason or another entertainment has me somewhat soured as of late. I'd say bread and circuses, but that might be too on the nose. I'm reading more now than I ever had and I want to expand in economics and finance with the occasional guilty pleasure in science fiction.

 

[Mij]

I have a saying at the dealership. Buy the RV, date the rate. If you find a house, buy it, I do not see prices going down anytime soon. You can always refinance if/when rates go back down.

NO!!! You may always be able to refy. But there is a point where it’s not advisable. If you are equity heavy with short time to pay off, it would cost you small fortune in closing cost to finalize the deal. JMO. But what do I know?

 

[Mij]

First, Bravo for being wise enough to have the self discipline to live in a way that leaves some to save. It is tough times for that, but as you prove, it can be done. I don't know if any investment will benefit you as much as being debt free.

It is always best to owe less. Figure all the angles of every transaction a see how it fits your goal. For example, in the late 70's when everyone was spending thousands in costs to refinance their 15% FHA mortgages, I instead put that fee money against the principle, taking 5 years off my 30 year mortgage. During the Reagan years I had enough equity to get a 9% conventional. I kept throwing whatever I could, even if it was just $50 extra against the principle. Paid off the 30 year mortgage in 11. The last mortgage was paid off in 6. Amortization calculators are a great tool to figure all the angles. They are free online. My first one I had to pay the bank to print one out for me, but it was a tool that was worth the price.

It is a VERY few that know how to make money borrowing money, including the professional investment types that only really make money handling yours. The banks are pushing HELOC service, saying you can invest and get huge returns. Maybe you can, maybe you cannot, but they make money either way, and get your house if you don't do well. Notice that all these experts make money if you are winning or losing. I am an absolute moron with investments, but I have only one year that I lost principle, and I lost 3%. That same year Merrill Lynch lost me 35%, and eventually more than that which never came back.

Every time some 28 year old "expert" in a finance office with $300 Porsche sunglasses and an over due student loan quotes me about performance since the great depression, I am torn between laughing and backhanding him. How about quote since 2006. How about quote the last 5 years? Now take your fees out of anything that looks acceptable. Lots less bragging at that point.

Your mileage may vary, but I am not trusting anything new until after January 2025

Excellent points, one extra monthly payment per year can equate to a ~25 year mortgage vs a 30 year mortgage. That may not be exactly right but it is close.

It easy to calculate. Divide one month payment by 12. What ever that number is, send that along with your monthly payment. You will knock 5 years off your mortgage. That number MUST come off your principal. Not your interest.

 

[HKFaninCarmel]

The best part was J-Pow admitting that the open border was driving up unemployment.