A question for all you soothsayers and know it alls!!

Coin Finder

I think you as a collective are the smartest bunch I know. I am refinancing my home. I intend to spend the extra cash on what else....coins!!

My question: Will the interest Rate that the fed controls go up or down in the next 30-45 days??

I await your answers

Placid

I think it will remain the same.

goose3

I don't think it can go much lower. Even if it does, it does not directly affect mortgage rates and if it does it won't necessarily affect them at the same proportion(so I've been told by bankers).

go for it now I'd say!

DMWJR

Which feds?

Just kidding. It would be hard for them to go down again since it is so low, but one thing is for sure, Greenspan has balls.

I don't think there will be any movement until summer of 2003, when there might be a change in global markets, but even that probably won't influence the rate. GB is voting in April I think on joining the EURO. I don't know what impact that will have on LIBOR, since EUROBOR is gaining serious ground in Europe. LIBOR is the "London Interbank Offered Rate" and is set by a dozen banks in London. EUROBOR is a standard interests rate set by 40 banks across Europe. I suspect that if GB joins the EURO, then there may be some future merger of LIBOR and EUROBOR, which COULD impact what Greenspan does.

Watching global banking policy is a sick hobby of mine, but I actually got to use it on this post!!!!

(Insert standard legal disclaimer here: This is the opinion of one redneck in Mississippi. I am not responsible for what you do or do not do, nor am I giving any advice which should be relied upon.)

goose3

(Insert standard legal disclaimer here: This is the opinion of one redneck in Mississippi. I am not responsible for what you do or do
not do, nor am I giving any advice which should be relied upon.)

HILARIOUS!

jbsteven

if i remember correctly greenspan just lowered the rates about 7-10- days ago, nothing more in the next few months i believe.

IrishMike

Well I have been financing homes for 31 years now off and on. The discount rate affects short term rates. Sometimes it causes rates to go up and sometimes down. We just lowered 30 year to 5.875 and 15 year to 5.5 both with 0/0 (points and origination). I wouldn't wait to refi, simply because these are historic low rates and a slight decrease in rates when they are this low won't mean much in lower payments. Go for it now, because an increase will occur, just a matter of when.

ldhair

I can't see enough of a change to matter but, I would do it now. Shop around before you jump on a deal. The cost of the refinance will vary.

DaveG

My bet is that the Fed is done lowering rates for this cycle.

I think the next move is up (when the economy recovers, sometime in the next 6 to 9 months).