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 > Fed Cuts Rates: Will RV Rates Follow?

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2012Coleman

Florida

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Posted: 03/03/20 12:21pm Link  |  Quote  |  Print  |  Notify Moderator

I just saw this: The Dow Jones Industrial Average plunged to session lows Tuesday, as it swung from a 376-point gain to a 900-point loss following the Fed's surprise rate cut.

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Yosemite Sam1

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Posted: 03/03/20 01:13pm Link  |  Quote  |  Print  |  Notify Moderator

No, in fact, the opposite can happen.

This is a signal that the Feds are seeing bigger economic risks and lenders will factor in a higher rate to compensate for defaults due to economic downturn.

rk911

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Posted: 03/03/20 01:28pm Link  |  Quote  |  Print  |  Notify Moderator

jdc1 wrote:

Wishful thinking. Those overnight fed rate cuts aren't meant for the average Joe...they are for the rich.


wow. sorry, you are so wrong.

"For borrowers, the coming days and weeks will likely see a decline in rates on many consumer products, including fixed and variable-rate mortgages, mortgage refinances and home equity lines of credit. On the other hand, savers will likely see rates on products like CDs and savings accounts trickle lower."...Bankrate

lots of everyday folks have adjustable rate mortgages or have locked a pre-closing rate that with an option to get a lower rate and HELOCs. don't think our president, Bloomberg, Bezos, or any other "rich guy" will be re-financing their mortgage.


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path1

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Posted: 03/03/20 01:43pm Link  |  Quote  |  Print  |  Notify Moderator

Just a continuation on the war against savers.

Fresno Tundra Driver

Fresno,Ca. USA

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Posted: 03/03/20 03:52pm Link  |  Quote  |  Print  |  Notify Moderator

“The Big Short” is an excellent movie and needs to be watched at least twice to absorb all the information. “Too Big to Fail” is another movie that also does a good job explaining just how close the housing crisis brought the American/World economy to the brink of disaster...


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westernrvparkowner

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Posted: 03/03/20 03:53pm Link  |  Quote  |  Print  |  Notify Moderator

path1 wrote:

Just a continuation on the war against savers.
Putting your cash to work in bad times can make you rich. More millionaires were created during the depression than any other time in US history (and that was when a million dollars was serious money). In any 10 year period, equities have outperformed bonds 89% of the time. Holding your wealth in cash is seldom a good long term strategy.

troubledwaters

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Posted: 03/03/20 04:16pm Link  |  Quote  |  Print  |  Notify Moderator

THE SKY IS FALLING, THE SKY IS FALLING!!!!!!!

2oldman

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Posted: 03/03/20 04:34pm Link  |  Quote  |  Print  |  Notify Moderator

westernrvparkowner wrote:

Holding your wealth in cash is seldom a good long term strategy.
Except when you're 75 and there is no long term. Now, if you're leaving it to someone who can, that's different.

* This post was edited 03/03/20 04:45pm by 2oldman *

2oldman

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Posted: 03/03/20 04:35pm Link  |  Quote  |  Print  |  Notify Moderator

troubledwaters wrote:

THE SKY IS FALLING, THE SKY IS FALLING!!!!!!!
Cute, but the sky has fallen a couple times in the last 20 years. We are overdue for another.

JKJavelin

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Posted: 03/03/20 05:21pm Link  |  Quote  |  Print  |  Notify Moderator

You will never outsmart the market.
Always stick with your plan. Through highs and lows.
JK


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