Comments on: How I’m Reacting to the Rate Cut

By: jim

jim — Thu, 18 Dec 2008 20:20:54 +0000

@Anonymous: If you look at Bankrate’s list, you’ll notice that the first few are links and the rest aren’t. The first few on their tables are also not always the highest links, that’s because they order things based on whether they have a commercial relationship. I mentioned FNBO Direct and ING Direct because those are two banks I use and I could easily pull their rates up.

As for why FNBO makes it difficult, and they do, I don’t fully understand. I agree with you that when a bank makes it hard (or rather doesn’t make it easy, because I doubt banks actively make it hard to find rate information) it makes me question them, but I’ve been using FNBO for a whiel and have otherwise been happy with them.

Here’s the link to their CD rates:
https://www.fnbodirect.com/01d/html/en/site/assets/documents/etemplate/cd/index.html

By: Peter

Peter — Thu, 18 Dec 2008 19:18:23 +0000

I keep meaning to call about refinancing our mortgage. Looks like now may be the time. Time to do it before they go back up!

By: Anonymous

Anonymous — Thu, 18 Dec 2008 19:00:39 +0000

Why isn’t FNBO listed as having top rates on interest on bankrate.com? And why aren’t the CD rates easy to find on FNBO’s own website? One of the ways I judge a bank is by its website – I want to be able to quickly find changes in rates online, and I’m just not seeing the information on their website. I’m interested in this, but just feeling cautious.

By: Patrick

Patrick — Thu, 18 Dec 2008 18:35:31 +0000

I agree with MBHunter on the 30 year notes. It isn’t unreasonable to estimate inflation rates at 4-5% when you are planning your future. So a locked in mortgage at those rates is excellent.

My friend just told me his bank was offering him the chance to refinance his 30 year loan to a 15 yr mortgage in the low 4% range. He is laying the groundwork now so he can run the numbers. But it looks like he may come out ahead.

By: poor boomer

poor boomer — Thu, 18 Dec 2008 18:17:54 +0000

Jon said:

Spend, Spend and Spend more is the government’s message. In terms of housing, loans are so cheap now that refinancing is a great option as well. If only house prices would stabalize!

What good are cheap loans to people who can’t get loans? All it means to me is that I pay a larger Landlord Spread Premium for the privilege of renting a room in a house with nine people.

By: mbhunter

mbhunter — Thu, 18 Dec 2008 08:07:38 +0000

30-year notes at that rate are fantastic inflation hedges.

By: Andy

Andy — Thu, 18 Dec 2008 02:42:42 +0000

[Recommenting with correct profile] Spend, Spend and Spend more is the government’s message. In terms of housing, loans are so cheap now that refinancing is a great option as well. If only house prices would stabalize!

By: Jon

Jon — Thu, 18 Dec 2008 02:42:00 +0000

Spend, Spend and Spend more is the government’s message. In terms of housing, loans are so cheap now that refinancing is a great option as well. If only house prices would stabalize!

By: Broke MBA

Broke MBA — Thu, 18 Dec 2008 00:30:28 +0000

I too hope these type of mortgage rates are around a year from now. I’m just not ready to buy yet. I have some student loan debt and a down-payment to tend to first.

By: Bill M.

Bill M. — Thu, 18 Dec 2008 00:01:29 +0000

Same here, because I took out a home equity line of credit to do some home upgrades, I need to pay that off too, will do that at the end of 09, hopefully the 4.0-5.0 mortgage will still be around so I can cash in also.

By: poor boomer

poor boomer — Wed, 17 Dec 2008 23:39:02 +0000

How I’m reacting to the rate cut:

*shrug*