find interesting the interest rates available now, 2 U...
As bad as the economy is, if "They"/we think that it will get worse, interest rates will, continue, to go down.
The problem is, however, IF nothing works like is it supposed to..., when will it get better?
The FED dropped the re-discount rate to almost zero, but the Banks did not lend that or any money out to U.S..
The Federal Govt borrowed more money from China, Japan, UK, the Gulf oil state and, oddly, U.S. - why were we buying TBills? - to spend on UI benefits, to reimburse the states for Medicare & Medicaid, and to continue to pay teachers, police, firemen..., but with state revenues dropping like a rock, they still had to cut people and services.
The FED bought US$ 1.5 Trillion in FMae&FMac RE securities, so F&F "could" continue to make RE loans out to U.S.
But, "nothing appeared to happen"..., the dog didn't bark.
If no economic theories method of "fixing" the economy works the way it was intended...
as Karl Malden used to ask U.S.:
"What are YOU going to do..., What ARE you going to do?"
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Mortgage rates at lowest in five decades
National average for a 30-year fixed loan dips to 4.58 percent
Mortgage rates have sunk to the lowest level in more than five decades, but consumers aren't rushing to refinance their loans or buy homes.
http://www.msnbc.msn.com/id/
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