Fed cut rate half percentage point

Discussion in 'Credit Talk' started by Newcomer, Oct 2, 2001.

  1. Newcomer

    Newcomer Well-Known Member

    They cut the Federal Funds Rate to 2.5%
  2. the other

    the other Well-Known Member

    Yipee!!! The lower the rate, the sooner I can get out of debt!
  3. Bill B

    Bill B Well-Known Member

    is this one for credit cards?
  4. ble103

    ble103 Well-Known Member

    Well that makes the prime lending rate a low 5.5% but the fed's are trying to get the economy up,and running again what's bad about them cutting these rates is once they get the comsumers to spend,and spend in hopes to feul the economy look out we are going to get f***** big time in the days to come!If you know what i mean.
  5. Bill B

    Bill B Well-Known Member

    I know exactly what you mean :) Time to stop charging and just keep on paying!
  6. Newcomer

    Newcomer Well-Known Member

    But the good news is for me is I can refinance my new FHA mortgage from 7.25 to 6.5 with only $1000 in fees!:) Since the Gov't came up with this streamline refinance program for FHA borrowers, you only have to contact an FHA lender and get the ball rolling. No appraisals, credit checks, etc!

    GEORGE Well-Known Member

    I saw an ad for 6.12%...
    I have FHA...
    Streamline with cash out?
  8. lmckenzie

    lmckenzie Well-Known Member

    George no cash out !

    "Waking up from a credit nightamare"

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