Why Mortgage Rates haven't gone Down with the Fed Rate Cuts

[machinedriver]

I really dont trust you. My cash is under my matress . . . come and get it

[kurtjackson25]

machine,

That's a strategy that many employ, it does give you liquidity but you miss out on having the power of compounding interest working for you.

Keep your money I didn't even ask for it nor would I. :)

[machinedriver]

Yes you might be on to something there alright....i really lost out when irish currency changed to the euro and i found some old cash 1 year later...

Seriously though, whats your feeling on the UK government securing the banks with £50bn + of taxpayers money? That can't be good.

[kurtjackson25]

Thanks for coming back MD.

It's never good when the government intervenes into the market, but sometimes it has to intervene in hopes of heading off a much more painful economic event (recession/depression). This is similar to the Govt. getting involved with Bear Stearns and JP Morgan Chase. They felt the repercussions in the world wide economy would be much worse than the total of tax payer dollars used.

[kurtjackson25]

Thank you Scruffy's Greatest Fan, just trying to find a way to combat all the misinformation the media puts out there. Not too mention all the mortgage lenders advertising that rates are down because of the Fed's cuts.

[ScruffysGreatestFan]

You have answered the biggest question in the financing business and implied a certain weakness that Ben Bernanke has in affecting fixed mortgage rates. A must for all mortgage seekers.