[quote author="tenmagnet" date=1221189273][quote author="usctrojanman29" date=1221188516][quote author="optimusprime" date=1221187031][quote author="tenmagnet" date=1221186947][quote author="optimusprime" date=1221186186][quote author="usctrojanman29" date=1221184987][quote author="ukyo116" date=1221182903][quote author="PANDA" date=1221181118]
Is there a good chance that the FEDs will cut rates on the 15th since the dollar is strong?</blockquote>
Not being expected, and I don't think the Fed has the room to quite yet.
<a href="http://money.cnn.com/2008/09/10/news/economy/fed_outlook/index.htm?postversion=2008091014">http://money.cnn.com/2008/09/10/news/economy/fed_outlook/index.htm?postversion=2008091014</a>
Though with the major failures coming up, a rate cut is not out of the question.</blockquote>
FED fund rate futures are predicting a 50-50 chance of a .25% cut before the end of the year.</blockquote>
Actually ..it is more 30% chance for a cut by year end 08'.
Fed Funds could very well stay at 2% until middle of next year when there is a higher likely hood of a rate hike to 2.25%.</blockquote>
I agree with that.
By keeping rates low, they?re hoping to stabilize the market.
Even with $$$ down, it?s becoming more and more difficult to obtain financing.</blockquote>
Also factor in Oil prices coming in from $140+ to $100 is as good as a 25-50 basis point cut in the Feds mind.</blockquote>
That saves the TrojanMan $$$ because he drives about 30k miles a year (mainly for work but is reimbursed @.585/mile).</blockquote>
Not bad, that seems pretty generous.
What about your condo sale, are you holding the paper?</blockquote>
Nope, I'll walk away with all of my equity and amount that I spent on raw material for the upgrades (my dad and I did all the work) plus some extra money for a few lunches and dinners. haha The Buyer is pre-approved with Bank of America for a 30-year fixed loan. I also had a roommate for about 3 years that paid $900/month to rent one of the rooms so I made an extra $30k off that along with my mortgage being a 5-year ARM @ 4.875%.