The Conservative Cave
Current Events => The DUmpster => Topic started by: beefeater on June 02, 2012, 06:49:59 PM
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The DUmps own ex-Congressman shows his ignorance again.
At least he was voted out (http://www.democraticunderground.com/101630404)
Sat Jun 2, 2012, 05:03 PM
Alan Grayson (165 posts)
Yesterday: The Lowest Interest Rates in History
Yesterday, the 10-year Treasury note hit its lowest interest rate in history. For the third day in a row.
I didn't hear that reported. Did you?
Treasury notes started trading in substantial amounts during World War I, almost 100 years ago. Until Wednesday of this week, the lowest interest rate in history on 10-year notes was 1.672%. That was in February 1946, twelve years before I was born. (That rate re-appeared, for a few brief moments, last September.)
On Tuesday, the rate for 10-year notes closed at 1.73%. On Wednesday, the rate dropped past the all-time low, and kept going, finishing at 1.62%. Thursday set a new all-time low, finishing at 1.58%. On Friday, the rate for 10-year notes finished at 1.47%.
That's a 15% drop. In three days.
The yield on 10-year Treasury notes actually plunged all the way down to 1.44% during Friday trading. That's the new all-time low. Until Monday, at least.
Here are some questions that come to mind:
Why is this happening?
Is this good news or bad news? (Hint to Obama Administration: you can take credit for it.)
Will the trend continue?
What does it mean for the middle class? For mortgages and car loans? For corporate profits? For fiscal policy?
Who gains and who loses?
Hint for AlGrayson: The socialists in Europe have destroyed their economies and since there is very little domestic demand for their slave produced crap, the commies in China are running out of markets strong enough to buy said crap, overall slowing demand for oil and other commodities is driving down the price and here in the good ole USofA Obama's "recovery" has sucked the life out of our equity and RE markets.
What's it all mean Al?
The only half way safe haven for what's left of the worlds wealth is U.S. Treasuries meaning that we don't need to pay higher rates to attract the money! You yourself just pointed out when this last happened, WW1 And WW2 when the rest of the world was still in turmoil. Simple supply and demand ya MOONBAT moron DUmmie. The world is betting that WE won't default in spite of Obama, so ya, he can take credit.
And to think that this defeated Congressman is probably one of the smarter DUmmies on the island.
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Hey dumbass, how many people take out 10 year loans? I work in the mortgage industry and rarely see 15 year loans. ::)
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Hey dumbass, how many people take out 10 year loans? I work in the mortgage industry and rarely see 15 year loans. ::)
I just refinanced to a 10yr loan from an original 15yr loan at 2.99% so the answer is at least one.
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I just refinanced to a 10yr loan from an original 15yr loan at 2.99% so the answer is at least one.
Sweet deal. :)
I just think it would be better to report on the 30 year rates since that is the most common note taken out. Hell, he could even report on 25 year notes because those are seen more frequent than 15's still.
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So I pinched pennies and stashed a goodly sum in cash thinking it would some day be readily available and at the same time provide 4-5% interest income.
Oh well....should have saved my Confederate dollars. :-)
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Sweet deal. :)
I just think it would be better to report on the 30 year rates since that is the most common note taken out. Hell, he could even report on 25 year notes because those are seen more frequent than 15's still.
Just after closing my credit union offered 10yr 2.75% /2.827% APR 0 points/closing. I had it in my head that it could not possibly go any lower and sure enough it does in just a few weeks.
Where in your professional opinion is the bottom?
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Just after closing my credit union offered 10yr 2.75% /2.827% APR 0 points/closing. I had it in my head that it could not possibly go any lower and sure enough it does in just a few weeks.
Where in your professional opinion is the bottom?
Well I am not that rooted in the mortgage business... I just work on a lot of loans throughout the day. I'm in the correspondence end of it. So I have no idea how low the rates will go.
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Alan Grayson
Yesterday: The Lowest Interest Rates in History
Yesterday, the 10-year Treasury note hit its lowest interest rate in history. For the third day in a row.
I didn't hear that reported. Did you?
The bond market has been crap for a while now, so what's there to report?
Here are some questions that come to mind:
Why is this happening?
Is this good news or bad news? (Hint to Obama Administration: you can take credit for it.)
Will the trend continue?
What does it mean for the middle class? For mortgages and car loans? For corporate profits? For fiscal policy?
Who gains and who loses?
It generally means the market believes there will be an increase in interest rates in the near future. I highly doubt you understand what that means, Al, much less your fellow kooks on Skin's island.
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Not reported?!? They've been all over it on Fox Business, maybe you should adjust your viewing habits and focus on information instead of ideological obedience to Obama, Alan.
And the reason is pretty clear, it's because growth is suffering a major check in China, it's been flat as Liz Warren's chest in Japan for over 10 years, and the Eurozone is perched on the edge of the first hilltop on the King of Rollercoasters, inching toward a very sudden descent. It's not because our economy is good, it's because Socialists like you have ass-raped all the other major economies into being even worse.
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All of the above reasons are valid and the people that are taking a beating HERE are the people that are actually trying to save now or worse, trying to live on their savings (think seniors).
We have pumped so much money into the system in the last four years (ever since TARP) that we are awash in money. The ONLY reason that we are not looking at hyper-inflation is because of the point raised above that everybody else is worse and we are seen as a safe harbor. We will pay that particular piper as soon as the worldwide aircraft carrier starts to turn and the people that buy our treasury notes will start to look at our outstanding debt. At that point you will see inflation that will make the late 70's look like a walk in the park.
If I were Allan Grayson I would STFU because this is far from over...
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I hate to be a scold. :lmao:No you don't, you're a liberal, that's what they do.I really do. But important things are happening. Can someone in the media, or among our so-called leaders, please pay some attention? We did, that's why you're pandering on the street right now. Please.
Looooser!!!
Bite it, grayson, you have about as much relavance as the Boston Drunkard.
Stupid, stupid, little man.
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Not great at all for me, since most of my TSP retirement fund is in treasuries, and with the market still shaky no way I'm going to move it into index funds this close to retirement. At least not until Romney gets in and we see what effect that has.
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Alan hasn't responded to these posts, or actually anyone's posts yet:
JDPriestly (31,432 posts)
3. Bad news for seniors with savings in the bank and rising medical costs.
Good news for everybody else.
I talked to a friend this morning. He is a bachelor, in his 70s and without family in our area. He just had heart surgery. His surgery had to be delayed after he checked into the hospital because of other health problems. During his stay in the hospital he couldn't pay his bills. When he got out, he paid them right away but found out that the various companies that he owed had added late charges over the course of his hospital stay.
This should not happen. Companies should not be able to charge late fees on debts accrued during a hospital stay for recovery from heart surgery. There are just times when a person cannot pay his bills when he should. The companies should show some humanity on this.
Mojorabbit (11,009 posts)
4. Yes it is bad for seniors. My mother is watching her income fall year by year.
and yes, the media is becoming worse than useless. I totally agree.
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I've considered paying off what mortgage I've got, in cash.
Bite me, DUmpmonkeys.
I've earned it, it's mine, screw you little whiney sniveling derps.
It's mine...eff. you!
Alan hasn't responded to these posts, or actually anyone's posts yet:
He will. Request for donations will be in it. Bank on that. :lmao:
Next post by grayson.....send money.
Aww, crap, did it again. Leave me the hell alone. Shut-up, Bally, don't even go there.
Well, I screwed that up somehow. Y'all know what I saud,
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Interest rates in Japan were zero or near zero for years. I could see that happening here.
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Interest rates in Japan were zero or near zero for years. I could see that happening here.
I don't see that happening.
I would like to see some sort of return for someone else to use what I have earned.
May not be a lot, but, I better have some insentive to do that.
Bite me. occupoopers.
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I just refinanced to a 10yr loan from an original 15yr loan at 2.99% so the answer is at least one.
Really? I didn't know they exist. We were thinking about refinancing to a 15 year, but my husband would like the 10 year much better. I will tell him this -- thanks!
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Really? I didn't know they exist. We were thinking about refinancing to a 15 year, but my husband would like the 10 year much better. I will tell him this -- thanks!
My Credit Union with 2.75% / 2.825% APR 10yr Fixed 2.875% /2.928 APR 15 yr Fixed both with 0 points. I missed out on this deal by two weeks.
Metro Credit Union (http://metrocu.mortgagewebcenter.com/Default.asp?__utma=1.481434326.1316029708.1317657331.1317668361.57&__utmb=1.52.10.1317668361&__utmc=1&__utmx=-&__utmz=1.1317668361.57.57.utmcsr=Website_Flash_MRC|utmccn=Website_Flash_MRC|utmcmd=Website_Flash_MRC&__utmv=-&__utmk=175983522&bhcp=1&__utma=1.1247638129.1330573617.1338682642.1338734147.47&__utmb=1.2.10.1338734147&__utmc=1&__utmx=-&__utmz=1.1330573617.1.1.utmcsr=%28direct%29|utmccn=%28direct%29|utmcmd=%28none%29&__utmv=-&__utmk=217060118)
Where I just completed my refinance.
Sovereign Bank The website does not show the rate for 10yr but they do have it.
2.99% 10yr and 3.125% 15yr Fixed. 0 points
Sovereign Bank (http://www.sovereignbank.com/personal/borrowing/mortgages/mortgage_overview_and_rates.asp)
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Really? I didn't know they exist. We were thinking about refinancing to a 15 year, but my husband would like the 10 year much better. I will tell him this -- thanks!
They definitely exist. You can do any term for the most part. I've seen odd ball loans like 12 and 14 year loans. Those were of course refinances and not purchases.