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(nbc11.com)   Fed cuts interest rates one-half of a percentage point. Submitter off to buy Ferrari   (nbc11.com) divider line 282
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3680 clicks; posted to Main » on 18 Sep 2007 at 2:34 PM (7 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2007-09-18 02:27:38 PM  
Sweet! Glad I waited to lock in on my mortgage rate...
 
2007-09-18 02:35:27 PM  
Sweet, I just financed a new car last Friday...
 
2007-09-18 02:35:34 PM  
Right above that link on Fark was a banner ad for Mitt Romney.
 
2007-09-18 02:35:35 PM  
what about inflation?
 
2007-09-18 02:35:37 PM  
Way to show some spine, Ben. Do you plan on retiring soon? If not , you're going to have to deal with the fallout from this decision, unlike that shriveled moron you replaced.
 
2007-09-18 02:35:49 PM  
It's safe to go get an ARM now, isn't it?
 
2007-09-18 02:36:20 PM  
Suck it, Brittney!
 
2007-09-18 02:36:24 PM  
Fed cuts interest ratesrate's one-half of a percentage point. Submitter off to buy Ferrari

FTFY. Sorry, pet peeve.

/rims
 
2007-09-18 02:36:34 PM  
Yay, let's communicate once again to speculators that the Fed will attempt to bail them out when things go bad.

I vote for the next bubble to be in tulip bulbs.

/been done
 
2007-09-18 02:36:38 PM  
BravadoGT: Sweet! Glad I waited to lock in on my mortgage rate...

Heh. The 10-year bond, which is what many mortgages are based on, is actually down on the news. Which is to say, long-term interest rates are up today. Nothing even in the general neighborhood of 50 bp, but still.
 
2007-09-18 02:36:38 PM  
Watch as the dollar falls further!


Live the new American dream, buy stuff you can't afford and live life in debt!

Time to head to Canada.
 
2007-09-18 02:36:43 PM  
Your ARM & leg just got some relief?
 
2007-09-18 02:37:18 PM  
I have no debt (other than a small amount left on my fixed-rate mortgate), but I do have a decent amount of money in accounts that pay interest at rates that are tied to key federal rates. Am I supposed to be happy about this, personally?
 
2007-09-18 02:37:24 PM  
So much for the economy. Wonder how much longer ill be able to exchange dollars for pesos?
 
2007-09-18 02:37:40 PM  
Manfred J. Hattan: BravadoGT: Sweet! Glad I waited to lock in on my mortgage rate...

Heh. The 10-year bond, which is what many mortgages are based on, is actually down on the news. Which is to say, long-term interest rates are up today. Nothing even in the general neighborhood of 50 bp, but still.


WHAT??? Do you think they will drop again? Getting ready to close on a new house.
 
2007-09-18 02:37:48 PM  
Here is a LINK (pops) to Larry Kudlow's article from yesterday calling for the Fed to cut the rate by a half point. Interesting read...and a good call, even though they didn't drop the discount lending rate as much as he would have liked.
 
2007-09-18 02:37:58 PM  
I'm emotionally drained.
 
2007-09-18 02:38:01 PM  
This is a great time to buy a house I cant afford! Cha ching!
 
2007-09-18 02:38:26 PM  
CityHall: Fed cuts interest ratesrate's one-half of a percentage point. Submitter off to buy Ferrari

FTFY. Sorry, pet peeve.

/rims


Well done.
 
2007-09-18 02:38:38 PM  
kc987654: I vote for the next bubble to be in tulip bulbs.

Gold. It continues to go up as the Fed continues to wreck the US Dollar and Bush borrows another couple of trillion.
 
2007-09-18 02:38:40 PM  
pissed off! damn broker! I was up over $1,000 but couldn't get out. Only made $200...%^&^%&^$$###!!!!!
 
2007-09-18 02:39:04 PM  
Oil almost $82/barrel and going higher. Hooray!
 
2007-09-18 02:39:11 PM  
Such good news for the market that it took down E-trade... getting service unavailable at the moment.
 
2007-09-18 02:39:14 PM  
"Yay, let's communicate once again to speculators that the Fed will attempt to bail them out when things go bad."


Where do i apply to get my bailout for the 50$ I loaned my sister?
 
2007-09-18 02:39:28 PM  
Unknown_Poltroon: So much for the economy. Wonder how much longer ill be able to exchange dollars for pesos?

But at least free market capitalists were bailed out of their risky investments...
 
2007-09-18 02:39:30 PM  
I remember when it was 10%. Yikes!
 
2007-09-18 02:39:36 PM  
Oh man, am I happy I purchased my Ferrari in late June of 2003. Man, oh man, those were the frickin' days of interest rates. None of this stuff really makes any sense to me, I just bend over and let the credit companies do what they must. They really oughta teach the kids how to understand these things in high school as part of the general curriculum.

/btw, +1 subby
 
2007-09-18 02:39:54 PM  
Subby, a car, or the whole damned company?
 
2007-09-18 02:40:01 PM  
Bernake blinked.

Wuss. He should have held firm and let Countrywide or Novastar and either Lehman or Bear bite it.
 
2007-09-18 02:40:15 PM  
CityHall: Fed cuts interest ratesrate's one-half of a percentage point. Submitter off to buy Ferrari

FTFY. Sorry, pet peeve.

/rims


Did I miss some sort of new Fark fad of incorrectly editing the grammar of others?
 
2007-09-18 02:40:20 PM  
CityHall: Fed cuts interest ratesrate's one-half of a percentage point. Submitter off to buy Ferrari

FTFY. Sorry, pet peeve.

/rims


You're doing it wrong.
 
2007-09-18 02:40:48 PM  
Holy Jesus! There was speculation of a quarter point, and maybe a half, but just jumping straight to a half point?! The dollar is already falling against the Euro, Yen, and Canadian dollar...

So... you can keep your house payments up for another couple months, but imports are going sky-high. Nice jorb, Fed.
 
2007-09-18 02:40:49 PM  
SchlingFo

Get five, man. Trust me, I'm a professional.
 
2007-09-18 02:40:59 PM  
ExJerseyGirl: WHAT??? Do you think they will drop again? Getting ready to close on a new house.

They are up, literally, 0.04% -- don't panic! By any reasonable standard, mortgage rates on conventional, conforming mortgages are very low and you're lucky to be buying now.
 
2007-09-18 02:41:12 PM  
Full text via Bloomberg (new window)

Fed Funds Target Rate = 4.75% (-50bp, from 5.25% although for a few weeks it has operated at 5.05%)
Discount Lending Rate = 5.25% (-50bp, from 5.75%)

Decision was unanimous
 
2007-09-18 02:41:12 PM  
ctenidae: Lehman

Lehman came out today with better than expected earnings.
 
2007-09-18 02:41:20 PM  
Don't look now, but the exchange rate for dollar is....well, the Looney is worth more than the greenback, now.
 
2007-09-18 02:41:27 PM  
LibertyFirst: kc987654: I vote for the next bubble to be in tulip bulbs.

Gold. It continues to go up as the Fed continues to wreck the US Dollar and Bush borrows another couple of trillion.


Ooh, the gold bugs are out...
 
2007-09-18 02:41:33 PM  
trifthen

But..but...the CREDIT CRISIS!!!1!!1!ELEVEN!
 
2007-09-18 02:41:38 PM  
Manfred J. Hattan: BravadoGT: Sweet! Glad I waited to lock in on my mortgage rate...

Heh. The 10-year bond, which is what many mortgages are based on, is actually down on the news. Which is to say, long-term interest rates are up today. Nothing even in the general neighborhood of 50 bp, but still.


I'm going to lock in when the rates come in Friday. I'm betting that the my first mortgage is going to stay the same, but my piggyback will go down some. It'll probably save me maybe 15 bucks for that payment-that's a nice steak for the grill each month!
 
2007-09-18 02:41:42 PM  
Fed cuts interest rates rate's one-half of a percentage point. Submitter off to buy Ferrari

FTFY. Sorry, pet peeve.


It's either:
1) Fed cuts interest rates one-half of a percentage point - for plural rates
or
2) Fed cuts interest rate one-half of a percentage point - for a singular rate

There is no possessive.
 
2007-09-18 02:41:57 PM  
"But at least free market capitalists were bailed out of their risky investments..."


Yes, thats capitalism for you. Now, when are they going to evict tohse home owners who want some kind of socialist help with their mortgage?
 
2007-09-18 02:41:57 PM  
CityHall: rate's

I lol'd
 
2007-09-18 02:41:58 PM  
All my debts are 9,9% APR or lower. And they're all fixed. And my total debt-income load is 34%. And that's only because I recently upped my 401k contributions.

Neener neener.

/ no, I didn't have a point
 
2007-09-18 02:42:02 PM  
The_Drunken_Clam: CityHall: Fed cuts interest ratesrate's one-half of a percentage point. Submitter off to buy Ferrari

FTFY. Sorry, pet peeve.

/rims

Did I miss some sort of new Fark fad of incorrectly editing the grammar of others?


Yup.
 
2007-09-18 02:42:37 PM  
I'm a member of the FOMC, and I'm getting a kick out of these replies.
 
2007-09-18 02:43:16 PM  
CityHall:
Fed cuts interest ratesrate's one-half of a percentage point. Submitter off to buy Ferrari

FTFY. Sorry, pet peeve.

/rims




uh... your pet peeve is WRONG, sir. No superfluous apostrophe there, it was a plural form of rate, 'rates' - where did you go to school, America?
 
2007-09-18 02:43:27 PM  
Jacobin

Not so fast there. It's $1.0173.
 
2007-09-18 02:43:43 PM  
Unknown_Poltroon: "Yay, let's communicate once again to speculators that the Fed will attempt to bail them out when things go bad."


Where do i apply to get my bailout for the 50$ I loaned my sister?


From her pimp.

/this doesn't change the general rules of the economy, son
 
2007-09-18 02:44:22 PM  
guy_smiley: CityHall:
Fed cuts interest ratesrate's one-half of a percentage point. Submitter off to buy Ferrari

FTFY. Sorry, pet peeve.

/rims



uh... your pet peeve is WRONG, sir. No superfluous apostrophe there, it was a plural form of rate, 'rates' - where did you go to school, America?


Rotsky'd!
 
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