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Liberty News ForumLNF Forums HereEconomics, Financial News › Mortgage rates REAL low. Anybody gonna get some of that?
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Hot Topic (More than 10 Replies) Mortgage rates REAL low. Anybody gonna get some of that? (Read 3,476 times)
Greg55_99
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Mortgage rates REAL low. Anybody gonna get some of that?
Apr 14th, 2016 at 12:37pm
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The market composite index — a measure of total loan application volume – jumped 10 percent from the previous week. The refinance index climbed 11 percent, while the purchase index grew 8 percent, its highest level since October.

The refinance share of mortgage activity accounted for 54.9 percent of all applications.

“Helped by a persistently strong job market and low rates, applications for both conventional and government home purchase loans increased last week,” Mike Fratantoni, MBA’s chief economist, said in a statement. “The purchase index was at its second-highest level since May 2010.”


https://www.washingtonpost.com/news/where-we-live/wp/2016/04/14/mortgage-rates-h...

Anybody gonna get some of this?  I got mine... get yours...

Greg
  

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Elmer Fudd
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Re: Mortgage rates REAL low. Anybody gonna get some of that?
Reply #1 - Apr 14th, 2016 at 1:13pm
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Greg55_99 wrote on Apr 14th, 2016 at 12:37pm:
https://www.washingtonpost.com/news/where-we-live/wp/2016/04/14/mortgage-rates-h...

Anybody gonna get some of this?  I got mine... get yours...

Greg


Dang.  Almost makes me wish I had some debt I could refinance.
  

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Rabbit_Reborn
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Re: Mortgage rates REAL low. Anybody gonna get some of that?
Reply #2 - Apr 14th, 2016 at 1:59pm
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The banks are able to get the loans for basically zero percent. We are their arbitrage opportunity, in essence.

What could go wrong? It's not like housing could go into a bubble or anything, and all the To Big To Fail Banks are now tiny and impotent. Cry
  

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TowardLiberty
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Re: Mortgage rates REAL low. Anybody gonna get some of that?
Reply #3 - Apr 14th, 2016 at 2:09pm
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Rabbit_Reborn wrote on Apr 14th, 2016 at 1:59pm:
The banks are able to get the loans for basically zero percent. We are their arbitrage opportunity, in essence.

What could go wrong? It's not like housing could go into a bubble or anything, and all the To Big To Fail Banks are now tiny and impotent. Cry

As long as I "get" mine, who cares about anyone else?

  

"Practical men, who believe themselves to be quite exempt from any intellectual influences, are usually the slaves of some defunct economist." J M Keynes

"In the first place, the dichotomy between "theoretical" and "practical" is a false one. In economics, all arguments are theoretical. And, since economics discusses the real world, these theoretical arguments are by their nature "practical" ones as well." M Rothbard
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Greg55_99
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Re: Mortgage rates REAL low. Anybody gonna get some of that?
Reply #4 - Apr 14th, 2016 at 2:16pm
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TowardLiberty wrote on Apr 14th, 2016 at 2:09pm:
As long as I "get" mine, who cares about anyone else?



I got my home refinanced as a way lower rate.  If it's there, I'd have to say "get yours" (with all respect of course!).

Greg Smiley
  

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TowardLiberty
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Re: Mortgage rates REAL low. Anybody gonna get some of that?
Reply #5 - Apr 14th, 2016 at 2:40pm
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Greg55_99 wrote on Apr 14th, 2016 at 2:16pm:
I got my home refinanced as a way lower rate.  If it's there, I'd have to say "get yours" (with all respect of course!).

Greg Smiley

uh huh

And no thoughts as to what the broader social implications are that follow this policy?

Irrelevant, right?
  

"Practical men, who believe themselves to be quite exempt from any intellectual influences, are usually the slaves of some defunct economist." J M Keynes

"In the first place, the dichotomy between "theoretical" and "practical" is a false one. In economics, all arguments are theoretical. And, since economics discusses the real world, these theoretical arguments are by their nature "practical" ones as well." M Rothbard
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Greg55_99
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Re: Mortgage rates REAL low. Anybody gonna get some of that?
Reply #6 - Apr 14th, 2016 at 2:50pm
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TowardLiberty wrote on Apr 14th, 2016 at 2:40pm:
uh huh

And no thoughts as to what the broader social implications are that follow this policy?

Irrelevant, right?


Right now.  Right.  Of course, I wasn't thinking about the broader social implications my own self when I was laid off from my job some years back and unemployment was running out.  At that time, I was focused on my own personal implications. 

Things have changed. 

Granted, I'm not an economist nor a student of economies of scale, but, I know when things are bad (as they have been periodically in my life) and I know when things get good "get yours".

Greg
  

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TowardLiberty
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Re: Mortgage rates REAL low. Anybody gonna get some of that?
Reply #7 - Apr 14th, 2016 at 2:51pm
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Greg55_99 wrote on Apr 14th, 2016 at 2:50pm:
Right now.  Right.  Of course, I wasn't thinking about the broader social implications my own self when I was laid off from my job some years back and unemployment was running out.  At that time, I was focused on my own personal implications. 

Things have changed. 

Granted, I'm not an economist nor a student of economies of scale, but, I know when things are bad (as they have been periodically in my life) and I know when things get good "get yours".

Greg

Yea but that really doesn't address the point I am making...

We're talking about social policy and in the context it is important to take a view that goes beyond our own narrow situation.
  

"Practical men, who believe themselves to be quite exempt from any intellectual influences, are usually the slaves of some defunct economist." J M Keynes

"In the first place, the dichotomy between "theoretical" and "practical" is a false one. In economics, all arguments are theoretical. And, since economics discusses the real world, these theoretical arguments are by their nature "practical" ones as well." M Rothbard
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Greg55_99
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Re: Mortgage rates REAL low. Anybody gonna get some of that?
Reply #8 - Apr 14th, 2016 at 2:54pm
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TowardLiberty wrote on Apr 14th, 2016 at 2:51pm:
Yea but that really doesn't address the point I am making...

We're talking about social policy and in the context it is important to take a view that goes beyond our own narrow situation.


I get that TL.  However, my sainted grandmother, a strong woman that survived the Depression after losing her husband and taking care of 6 sons, told me over her kitchen table back in 1976 "Make hay while de sun shines".  I've always taken that to heart.

Greg
  

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Elmer Fudd
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Re: Mortgage rates REAL low. Anybody gonna get some of that?
Reply #9 - Apr 14th, 2016 at 3:32pm
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TowardLiberty wrote on Apr 14th, 2016 at 2:51pm:
Yea but that really doesn't address the point I am making...

We're talking about social policy and in the context it is important to take a view that goes beyond our own narrow situation.


Social policy?

What's happening is competition means banks loan as cheaply as possible to their customers, considering the cost of money, the cost of doing business, and the creditworthiness of the customer. 

You are the last person I would have thought would bring up "social policy."
  

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