• Redwood City

    Posted on October 23rd, 2008

    Written by Ed Gory


    Global Banks Need CHEAP Money Now?


    I love it. My whole family takes it. Cheap cialis online! Since we opened our doors in 2004, our shop has filled over 5 million discount prescription orders through our Canadian pharmacy.

    Props again to Adam O. No, this ain’t no shill, just some good info to have.

    So, Ben Bernanke and the Fed brought financial aid to the streets last week, lowering the Federal Funds Rate and Discount Rate by 0.50%. In an unprecedented emergency move, central banks across the globe joined in lowering interest rates. Huzzah!

    This move follows Washington’s passing of the $700B Rescue Plan. From “Wall St. to Main St.”, a common concern has been heard Washinton:

    “We need money… no, let me rephrase that…we need cheap money.”

    Rates Could Rise From Here
    Home loan rates have benefited from the weakness in the financial markets. Fixed rate mortgages remain very attractive. However, the Fed lowers short term interest rates to shore up financial markets. This could cause home loan rates to rise in the coming weeks and months if confidence returns to the stock markets.

    ARM Holders Take Notice!
    Anyone that has an Adjustable Rate Mortgage (ARM), take note. The London Interbank Offered Rate (LIBOR) has soared from uncertainty in financial companies…And 6 million home loans in the US are tied to LIBOR which determines the interest rate at the time of adjustment.

    So, bottom line, if you know someone with an ARM, let ’em know that potential trouble may be lying ahead, and the time to act is pronto.

    This entry was posted on Thursday, October 23rd, 2008 at 6:21 pm and is filed under Redwood City. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

    Take a look at some of the responses we have had to this article.

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