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Posted: 9/18/2019 10:09:54 AM EST
[#1]
Quote HistoryQuoted:
Not good for Trump 2020 It’s not good for America 2040 tho. |
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Posted: 9/18/2019 10:12:17 AM EST
[#2]
The wheels are slowly coming off.
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Posted: 9/18/2019 10:18:56 AM EST
[#3]
Lower rates just means I can fund more shit for less.
 Bring back 1.5% 84 month car notes! If I’m gonna watch the world burn it will be from a Napa leather seat in my $70k truck with three coats of ceramic coating on it so I stand out in the Costco parking lot. 
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Posted: 9/18/2019 10:31:26 AM EST
[#4]
Quote HistoryQuoted:
Lower rates just means I can fund more shit for less. Bring back 1.5% 84 month car notes! If I’m gonna watch the world burn it will be from a Napa leather seat in my $70k truck with three coats of ceramic coating on it so I stand out in the Costco parking lot. We’re on the verge of needing a new car anyway. Considering some companies are already offering 0 for 72 I can’t wait to see what they come up with next. |
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Posted: 9/18/2019 10:35:05 AM EST
[#5]
Anyone checked to see how this has affected the 15 and 30 yr mortgage rates?
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Posted: 9/18/2019 10:37:29 AM EST
[#6]
Quote HistoryQuoted:
Anyone checked to see how this has affected the 15 and 30 yr mortgage rates? |
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Posted: 9/18/2019 10:40:14 AM EST
[#7]
Quote HistoryQuoted: I was looking into refinance rates and 15 was 3.25 at my local bank. I think the 30 was 3.8 or something. |
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Posted: 9/18/2019 10:41:20 AM EST
[#8]
Quote HistoryQuoted:
My man. We’re on the verge of needing a new car anyway. Considering some companies are already offering 0 for 72 I can’t wait to see what they come up with next. Quote HistoryQuoted:
Quoted:
Lower rates just means I can fund more shit for less. Bring back 1.5% 84 month car notes! If I’m gonna watch the world burn it will be from a Napa leather seat in my $70k truck with three coats of ceramic coating on it so I stand out in the Costco parking lot. We’re on the verge of needing a new car anyway. Considering some companies are already offering 0 for 72 I can’t wait to see what they come up with next.
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Posted: 9/18/2019 10:43:20 AM EST
[#9]
Quote HistoryQuoted:
Yep. Looking at refi right now. Quoted out 3.5% for 30. That's cheap cheap money. Quote HistoryQuoted:
Quoted: I was looking into refinance rates and 15 was 3.25 at my local bank. I think the 30 was 3.8 or something. |
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Posted: 9/18/2019 11:42:26 AM EST
[#10]
Quote HistoryQuoted: Yep. Looking at refi right now. Quoted out 3.5% for 30. That's cheap cheap money. |
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Posted: 9/18/2019 11:44:47 AM EST
[#11]
Quote HistoryQuoted:
negative interest rates soon Will there be a day when we get PAID to take out a loan?! 
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Posted: 9/18/2019 11:50:12 AM EST
[#12]
Welcome to an economy that is predicated on financial idiocy. Gotta keep enabling financial retards to make retarded financial decisions with borrowed money, otherwise those consumer spending numbers aren't gonna be pretty... God forbid we discourage reckless borrowing on the personal and governmental levels via higher interest rates.
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Posted: 9/18/2019 11:50:12 AM EST
[#13]
Quote HistoryQuoted:
Do you think those rates are reflecting what the fed announced? Or will it take a day or two to see the new rates? Quote HistoryQuoted:
Quoted:
Yep. Looking at refi right now. Quoted out 3.5% for 30. That's cheap cheap money. |
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Posted: 9/18/2019 11:50:45 AM EST
[#14]
Quote HistoryQuoted:
Is that even possible? Will there be a day when we get PAID to take out a loan?! Quote HistoryQuoted:
Quoted:
negative interest rates soon Will there be a day when we get PAID to take out a loan?! It works the other way and is where they want the pressure. You get paid less than what you deposited in your savings. Which causes people to shift to other investment classes chasing returns. |
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Posted: 9/18/2019 11:51:25 AM EST
[#15]
Quote HistoryQuoted: Is that even possible? Will there be a day when we get PAID to take out a loan?! |
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Posted: 9/18/2019 11:53:25 AM EST
[#16]
Quote HistoryQuoted:
Can't answer that but I hope there is a revolution and the commies are gone. Quote HistoryQuoted:
Quoted:
Effects from the trade war. China devalued the yuan, this rate cut will just make it worse on them as their temporary export bump will be erased when money becomes cheaper to invest here. Don't know what will happen with export countries other than China. This is a trade war of value attrition and eventual inflation. I just wonder at what point does China's economy eventually comes off the rails? What they will do? Will they whimper into depression or lash out by going full communist Great Leap forward and start acting stupid regionally? |
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Posted: 9/18/2019 11:53:27 AM EST
[#17]
Quote HistoryQuoted:
Everyone forgets those 2010-2015 interest rate years. |
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Posted: 9/18/2019 11:58:13 AM EST
[#18]
Quote HistoryQuoted:
Do you think those rates are reflecting what the fed announced? Or will it take a day or two to see the new rates? Quote HistoryQuoted:
Quoted: Yep. Looking at refi right now. Quoted out 3.5% for 30. That's cheap cheap money. |
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Posted: 9/18/2019 12:01:28 PM EST
[#19]
Quote HistoryQuoted:
The wheels are slowly coming off. https://apps.newyorkfed.org/markets/autorates/temp For the non-finance people, the Fed getting involved with repos can be benign in that lots of market forces coincidentally cause disruptions in banking money flow, or not so benign in that the Fed will eventually lose control of interest rates, causing... chaos
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Posted: 9/18/2019 12:01:50 PM EST
[#20]
Quote HistoryQuoted:
What, you don't like accelerating asset prices and NIRP on the horizon? Trump wants you to spend your money. Doesn't matter on what, just that you not hoard it any longer, so your dollars pump up the economic numbers and he looks good for reelection. Quote HistoryQuoted:
Quoted:
Speaking for myself, because I have no debt and money in the bank. Guess I should buy a house I can barely afford.  Trump wants you to spend your money. Doesn't matter on what, just that you not hoard it any longer, so your dollars pump up the economic numbers and he looks good for reelection.
At least the Rick Flair Theory of Infinite Money Velocity will be more entertaining than plain old deflationary depression. |
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Posted: 9/18/2019 12:03:44 PM EST
[#21]
Quote HistoryQuoted:
because while it's lots of fun to be a borrower when rates are low, there are certain parts of our economy that depend on interest rates around the 5-8% range to be economically viable. Examples include pension funds, insurance companies, re-insurance companies, and other financial entities that simply cannot have all of their assets exposed to stock market fluctuations because of how they are regulated. Pension funds and insurance companies have to have a certain amount of their assets available to pay current benefits NOW, and they cannot have 100% or even a majority of their assets in the stock market where the value can plunge yet their current benefit payment requirements remain the same. For example, IIRC, life insurance companies have to have something like 70% of their investments be placed in extremely non-volatile stuff like CDs, bonds, etc. Plus, when rates are this low for this long, it pulls future demand forward. So you get a surge of buying stuff on credit, which is nice NOW, but is not so nice when people don't buy stuff on credit because (a) interest rates rise or (b) the consumer is tapped out. Example: I worked on the sidelines of the auto industry in the mid-late 2000s, interest rates were relatively low and instead of buying a new car every 4-5 years, lots of people were buying a new car every 18 months and rolling the negative equity from their trade-in into the loan on the new car -- and in some cases THAT trade-in's loan had negative equity from the car before that (I actually saw someone with a $54,000 loan balance on a $40,000 vehicle due to that). That meant that they rapidly reached a point where they either (a) stayed in that vehicle for much longer than normal or (b) sold it and bought a used beater. Either way, instead of selling a new car to that person every 4-5 years, the auto industry sold a new car to that person 2-3 times in 5 years then sold nothing to that person for 7-8 years. Quote HistoryQuoted:
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They need to go up, not down. Plus, when rates are this low for this long, it pulls future demand forward. So you get a surge of buying stuff on credit, which is nice NOW, but is not so nice when people don't buy stuff on credit because (a) interest rates rise or (b) the consumer is tapped out. Example: I worked on the sidelines of the auto industry in the mid-late 2000s, interest rates were relatively low and instead of buying a new car every 4-5 years, lots of people were buying a new car every 18 months and rolling the negative equity from their trade-in into the loan on the new car -- and in some cases THAT trade-in's loan had negative equity from the car before that (I actually saw someone with a $54,000 loan balance on a $40,000 vehicle due to that). That meant that they rapidly reached a point where they either (a) stayed in that vehicle for much longer than normal or (b) sold it and bought a used beater. Either way, instead of selling a new car to that person every 4-5 years, the auto industry sold a new car to that person 2-3 times in 5 years then sold nothing to that person for 7-8 years.
Government problems require government solutions |
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Posted: 9/18/2019 12:05:57 PM EST
[#22]
Quote HistoryQuoted:
Just wonderful. Refinanced my car payment last week. 800+ credit score only got me a 3.5% down from 4.99%. Should of waitd. |
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Posted: 9/18/2019 12:06:36 PM EST
[#23]
Quote HistoryQuoted:
The wheels are slowly coming off. |
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Posted: 9/18/2019 12:07:10 PM EST
[#24]
Quote HistoryQuoted:
Shud of got a shorter term loan. Quote HistoryQuoted:
Quoted:
Just wonderful. Refinanced my car payment last week. 800+ credit score only got me a 3.5% down from 4.99%. Should of waitd. |
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Posted: 9/18/2019 12:07:58 PM EST
[#25]
Quote HistoryQuoted:
My man. We’re on the verge of needing a new car anyway. Considering some companies are already offering 0 for 72 I can’t wait to see what they come up with next. Quote HistoryQuoted:
Quoted:
Lower rates just means I can fund more shit for less. Bring back 1.5% 84 month car notes! If I’m gonna watch the world burn it will be from a Napa leather seat in my $70k truck with three coats of ceramic coating on it so I stand out in the Costco parking lot. We’re on the verge of needing a new car anyway. Considering some companies are already offering 0 for 72 I can’t wait to see what they come up with next. Don't want to be caught with a broken EVAP sensor during the boogaloo, do you? |
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Posted: 9/18/2019 12:15:16 PM EST
[#26]
Just refi’d house to 3.25 (30yr). Can’t see it going much lower than that for a 30yr... though it if it somehow drops another half point or so, I’ll refi again if the paid points are right.
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Posted: 9/18/2019 12:17:48 PM EST
[#27]
It may be nice for most now, but it sucks for those like me that are doing the lending (bonds, ...). When you get to a certain age you generally want to get more conservative.
When young you borrow. When old you lend. Usually. |
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Posted: 9/18/2019 12:18:02 PM EST
[#28]
Quote HistoryQuoted:
0 for 72? Ahhhh ya. But we can do better! I want a truck and I feel like the timing is gonna come for some biggly deals on premium trucks soon. Maybe we can see negative interest car notes. Quote HistoryQuoted:
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Lower rates just means I can fund more shit for less. Bring back 1.5% 84 month car notes! If I’m gonna watch the world burn it will be from a Napa leather seat in my $70k truck with three coats of ceramic coating on it so I stand out in the Costco parking lot. We’re on the verge of needing a new car anyway. Considering some companies are already offering 0 for 72 I can’t wait to see what they come up with next. Toyota had a 0 for 60 a year or so ago and I almost pulled the trigger then. If they do a 0 for 72 I may go full retard and pimp out a Tacoma TRD Pro for me and a Land Cruiser for the wife. |
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Posted: 9/18/2019 12:19:11 PM EST
[#29]
Quote HistoryQuoted:
Is that even possible? Will there be a day when we get PAID to take out a loan?! Quote HistoryQuoted:
Quoted:
negative interest rates soon Will there be a day when we get PAID to take out a loan?! |
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Posted: 9/18/2019 12:22:58 PM EST
[#30]
Quote HistoryQuoted:
Speaking for myself, because I have no debt and money in the bank. Guess I should buy a house I can barely afford. Quote HistoryQuoted:
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They need to go up, not down. Guess I should buy a house I can barely afford. $$$$$ 
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Posted: 9/18/2019 12:23:44 PM EST
[#31]
Quote HistoryQuoted:
Just wonderful. Refinanced my car payment last week. 800+ credit score only got me a 3.5% down from 4.99%. Should of waitd.
Not only have I never considered refinancing a car, I've never had one so expensive that a 1.49% cut would have even been noticeable. |
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Posted: 9/18/2019 12:27:08 PM EST
[#32]
Quote HistoryQuoted:
Get a HELOC, draw it to the hilt, use it to buy good dividend stocks. $$$$$ Quote HistoryQuoted:
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Speaking for myself, because I have no debt and money in the bank. Guess I should buy a house I can barely afford. $$$$$ |
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Posted: 9/18/2019 12:29:20 PM EST
[#33]
You should buy a boat.
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Posted: 9/18/2019 1:27:02 PM EST
[#34]
25bps cut today. Surprising the Fed is helping GEOTUS.
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Posted: 9/18/2019 1:30:55 PM EST
[#35]
Quote HistoryQuoted:
25bps cut today. Surprising the Fed is helping GEOTUS. |
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Posted: 9/18/2019 1:32:49 PM EST
[#36]
Quote HistoryQuoted:
How did we get out of our great depression? I predict WAR. Quote HistoryQuoted:
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Effects from the trade war. China devalued the yuan, this rate cut will just make it worse on them as their temporary export bump will be erased when money becomes cheaper to invest here. Don't know what will happen with export countries other than China. This is a trade war of value attrition and eventual inflation. I just wonder at what point does China's economy eventually comes off the rails? What they will do? Will they whimper into depression or lash out by going full communist Great Leap forward and start acting stupid regionally? I predict WAR. |
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Posted: 9/18/2019 1:32:55 PM EST
[#37]
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Posted: 9/18/2019 1:46:37 PM EST
[#38]
Quote HistoryQuoted:
Can't answer that but I hope there is a revolution and the commies are gone. Quote HistoryQuoted:
Quoted:
Effects from the trade war. China devalued the yuan, this rate cut will just make it worse on them as their temporary export bump will be erased when money becomes cheaper to invest here. Don't know what will happen with export countries other than China. This is a trade war of value attrition and eventual inflation. I just wonder at what point does China's economy eventually comes off the rails? What they will do? Will they whimper into depression or lash out by going full communist Great Leap forward and start acting stupid regionally? |
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Posted: 9/18/2019 1:51:46 PM EST
[#39]
Everything is GREAT!
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Posted: 9/18/2019 1:52:29 PM EST
[#40]
Lol at the markets panic over the idea of no more cuts.
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Posted: 9/18/2019 1:54:33 PM EST
[#41]
Quote HistoryQuoted:
The wheels are slowly coming off. Two ways. Gradually, then suddenly.” ? Ernest Hemingway, The Sun Also Rises Watch out for that transition from slowly to suddenly, it's a killer. |
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Posted: 9/18/2019 1:58:37 PM EST
[#42]
Quote HistoryQuoted:
Lower rates just means I can fund more shit for less. Bring back 1.5% 84 month car notes! If I’m gonna watch the world burn it will be from a Napa leather seat in my $70k truck with three coats of ceramic coating on it so I stand out in the Costco parking lot. |
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Posted: 9/18/2019 1:58:46 PM EST
[#43]
Quote HistoryQuoted:
I'm not surprised. |
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Posted: 9/18/2019 2:01:00 PM EST
[#44]
Should I refinance then? I'm at 5.5% from 2002.
Might be worth it.
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Posted: 9/18/2019 2:01:50 PM EST
[#45]
I just wrote a first mortgage at 5% with a balloon after 60 months on a house I sold in June.
That's looking like a good decision now. |
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Posted: 9/18/2019 2:02:03 PM EST
[#46]
Quote HistoryQuoted: Negative interest rates on truck loans make me all tingly feeling in the checking account. Toyota had a 0 for 60 a year or so ago and I almost pulled the trigger then. If they do a 0 for 72 I may go full retard and pimp out a Tacoma TRD Pro for me and a Land Cruiser for the wife. |
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Posted: 9/18/2019 2:02:15 PM EST
[#47]
Quote HistoryQuoted:
Holy crap, you shouldn’t be paying anywhere near that. I’m paying 2.8 on a 5 year note. Quote HistoryQuoted:
Quoted:
Just wonderful. Refinanced my car payment last week. 800+ credit score only got me a 3.5% down from 4.99%. Should of waitd. I’m paying 2.8 on a 5 year note. 
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Posted: 9/18/2019 2:03:21 PM EST
[#48]
Quote HistoryQuoted:
Yep. Looking at refi right now. Quoted out 3.5% for 30. That's cheap cheap money. Quote HistoryQuoted:
Quoted: I was looking into refinance rates and 15 was 3.25 at my local bank. I think the 30 was 3.8 or something. Shit really has to get bad for it to be worthwhile to refi. |
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Posted: 9/18/2019 2:07:29 PM EST
[#49]
Quote HistoryQuoted: Mine is 3.02%. Shit really has to get bad for it to be worthwhile to refi. I remember when the bullshit HAMP program got kicked off, and people were getting 2% rates. They'd still bitch about their payments not being affordable or the rate too high. |
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Posted: 9/18/2019 2:08:31 PM EST
[#50]
This is good for me. Since wife decided to divorce me and is leaving, I need to refinance my house in my name to remove her. A lower interest rate on a conventional loan will be beneficial to me in the long run.
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