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Politics : Foreign Affairs Discussion Group -- Ignore unavailable to you. Want to Upgrade?

To: Keith Feral who wrote (159529)	3/23/2005 10:01:16 PM
From: TimF	Read Replies (1) \| Respond to of 281500

7 consecutive increases with no sign of inflation other than higher oil prices. And housing prices. The downside is that interest rates on mortgages are up 50%. Really? Maybe freely floating ones. Mortgages with a 5 or 10 year lock haven't gone up 50% (and don't respond "because they are locked", I'm talking about brand new mortgages not once that were already signed and thus locked in), neither have new 30 year fixed mortgages. Hmm even one year arm loans have not doubled bankrate.com In case you have a problem with that link I'll describe the result. It shows a chart of average one year ARM rates over the past 3 years. Rates bottomed out at just under 3% and are now less then 1 percentage point (or less than 33%) higher. Longer term mortgages have risen less dramatically. Tim

To: Keith Feral who wrote (159529)	3/24/2005 8:08:26 AM
From: michael97123	Read Replies (1) \| Respond to of 281500

You shouldnt have taken out and interest only mortgage then. And actually at the point you took it out is probably when AG was humping low interest variables. But a few months after he was for them he was agin em when he called the bond market stupid for leaving 10year at 4% or under. We all make choices, I opted for a 15 year fixed at 4 3/4%. Smartest financial decision i ever made. I am usually the one that screws up these things big time. (Am still holding jdsu) BTW, i do think there is a bit of excess inflation in the system that needs to be checked and that the deficits which i judged as necessary thru the end of 04 not are becoming a problem. Mike