Feds keep interest rates
#8104869
03/21/24 08:50 AM
03/21/24 08:50 AM
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Joined: Dec 2006
Posts: 3,223 Midlands South Carolina
SGT. C
OP
trapper
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OP
trapper
Joined: Dec 2006
Posts: 3,223
Midlands South Carolina
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Feds are keeping interest rates the same for now. Highest in 23 years. I feel for folks trying to purchase their first home or any home. No real reason other then good Ole fashion greed to keep things high. The common working stiff needs a break. Sarge
Getting old is a fatal mistake
Always looking for reloading componets
I know a beaver or two, because I've seen a beaver or two
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Re: Feds keep interest rates
[Re: SGT. C]
#8104883
03/21/24 09:06 AM
03/21/24 09:06 AM
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Joined: Dec 2010
Posts: 11,207 Armpit, ak
Dirt
trapper
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trapper
Joined: Dec 2010
Posts: 11,207
Armpit, ak
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Interest rates are not high. They are normal. These are the normal rates that existed prior to going to zero and staying there or near there for 14 years to boost debt. Some of us working men are savers, not borrowers and are now earning reasonable interest again.
If the fed keeps interest rates normal, next time the economy needs a boost they can just cut rates, not print money. The fed should follow thier dual mandate and ignore the mob.
Who is John Galt?
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Re: Feds keep interest rates
[Re: Dirt]
#8104935
03/21/24 10:01 AM
03/21/24 10:01 AM
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Joined: Dec 2006
Posts: 7,183 Three Lakes,WI 72
corky
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trapper
Joined: Dec 2006
Posts: 7,183
Three Lakes,WI 72
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Interest rates are not high. They are normal. These are the normal rates that existed prior to going to zero and staying there or near there for 14 years to boost debt. Some of us working men are savers, not borrowers and are now earning reasonable interest again.
If the fed keeps interest rates normal, next time the economy needs a boost they can just cut rates, not print money. The fed should follow thier dual mandate and ignore the mob. This
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Re: Feds keep interest rates
[Re: SGT. C]
#8104942
03/21/24 10:13 AM
03/21/24 10:13 AM
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Joined: Jul 2016
Posts: 918 SD
TC1
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Joined: Jul 2016
Posts: 918
SD
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What you guys are not taking into account is the initial cost. 20% on a new build that cost 40-50 thousand is much different than 7% on a new home that now costs at a minimum of $250,000, and more than likely $350,000+ depending upon where you live and in many areas is much much higher than that. I don’t know the answer, just it is not the same buttercup. I have no stake in the game, I payed off my forever home years ago…. Just my .02
Long live the MAGA King
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Re: Feds keep interest rates
[Re: corky]
#8104945
03/21/24 10:21 AM
03/21/24 10:21 AM
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Joined: Mar 2007
Posts: 35,176 McGrath, AK
white17
"General (Mr.Sunshine) Washington"
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"General (Mr.Sunshine) Washington"
Joined: Mar 2007
Posts: 35,176
McGrath, AK
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Interest rates are not high. They are normal. These are the normal rates that existed prior to going to zero and staying there or near there for 14 years to boost debt. Some of us working men are savers, not borrowers and are now earning reasonable interest again.
If the fed keeps interest rates normal, next time the economy needs a boost they can just cut rates, not print money. The fed should follow thier dual mandate and ignore the mob. This Exactly !
Mean As Nails
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Re: Feds keep interest rates
[Re: TC1]
#8104951
03/21/24 10:28 AM
03/21/24 10:28 AM
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Joined: May 2011
Posts: 352 Ohio
Mike C
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trapper
Joined: May 2011
Posts: 352
Ohio
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What you guys are not taking into account is the initial cost. 20% on a new build that cost 40-50 thousand is much different than 7% on a new home that now costs at a minimum of $250,000, and more than likely $350,000+ depending upon where you live and in many areas is much much higher than that. I don’t know the answer, just it is not the same buttercup. I have no stake in the game, I payed off my forever home years ago…. Just my .02 Yeah, but income to pay mortgages is higher now too. Household income was 25k on my 50k loan. (Built it myself, or it would have been 100k loan) So 2-4x annual income.
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Re: Feds keep interest rates
[Re: SGT. C]
#8104955
03/21/24 10:32 AM
03/21/24 10:32 AM
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Joined: Dec 2010
Posts: 11,207 Armpit, ak
Dirt
trapper
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trapper
Joined: Dec 2010
Posts: 11,207
Armpit, ak
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The high cost of a home is a direct result of 14 years of below normal interest rates. It is the law of unintended consequences.
Who is John Galt?
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Re: Feds keep interest rates
[Re: SGT. C]
#8104956
03/21/24 10:33 AM
03/21/24 10:33 AM
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Joined: May 2010
Posts: 10,491 MN
Steven 49er
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trapper
Joined: May 2010
Posts: 10,491
MN
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Interest rates are too low
"Inflation is always and everywhere a monetary phenomenon". Milton Friedman.
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Re: Feds keep interest rates
[Re: SGT. C]
#8104966
03/21/24 10:48 AM
03/21/24 10:48 AM
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Joined: Dec 2006
Posts: 3,223 Midlands South Carolina
SGT. C
OP
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OP
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Joined: Dec 2006
Posts: 3,223
Midlands South Carolina
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Well, as predicted. Some will love it, some will not. All those gains are being taken away in form or the other. Just depends on your perspective. I on the other hand wasn't posting my situation. Just stating the news and facts. Sarge
Getting old is a fatal mistake
Always looking for reloading componets
I know a beaver or two, because I've seen a beaver or two
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Re: Feds keep interest rates
[Re: SGT. C]
#8104968
03/21/24 10:51 AM
03/21/24 10:51 AM
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Joined: Jul 2016
Posts: 918 SD
TC1
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trapper
Joined: Jul 2016
Posts: 918
SD
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Hard to believe that farmers here are somehow making less. Bright shiny new his/her Duramaxes/Yukon Denali’s every year or two. Bright new shiny trucks and cars are not the teachers, but of the farmers 15-18 year old kids in the school parking lots. I realize that this isn’t Mayberry anymore, but even my elderly parents see that things are skewed out of control… I’m not an economist, and I’d wager there are few if any on this site. Something needs to be done, and I’m not believing that the govt can fix anything. All I’ve ever seen them meddle in has went down the toilet…. Maybe a crash is what is needed and then seize that opportunity to enact change???
Long live the MAGA King
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