Is 7.25% a good rate for a loan?
#11
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Unfortunately, most banks in the past month that we deal with have RAISED rates as much as 1/4 to 1/2% and have removed any special discounts. I was realizing then, that the Feds are lowering interest rates to stimulate the economy, but the banks are raising their rates claiming their cost of funds are up (repos, delinquincy etc) just to put more money in their pockets (or offset losses).
So, lets add fuel to the recession fire...![Angry Smiley 038](/forums/images/smilies/angry-smiley-038.gif)
So, lets add fuel to the recession fire...
![Angry Smiley 038](/forums/images/smilies/angry-smiley-038.gif)
Long terms are market driven, and with the economy in the crapper and inflation rearing its head big time, I expect rates to keep going up, even with another cut. It's all about the expected returns.
![Frown](/forums/images/smilies/frown.gif)
#12
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Did you put any cash down? They quoted me 8% on a refinace to go from a co-loan to just me. Loan value 52k.
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WakezoneINS
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02-24-2010 09:12 PM