Fed Cuts Rates: Will RV Rates Follow?
The Fed cut rates 1/2 percent this morning in an effort to keep the stock market bubble growing. I'm negotiating a new RV loan to close in 10 days and the dealer quoted me 5.49% last week. I haven't...
Forum Discussion
Wishful thinking. Those overnight fed rate cuts aren't meant for the average Joe...they are for the rich.
Wrong. This type of rate cut affects short-term rates (but not long-term). Any one with an ARM (Adjustable Rate Mortgage) should see a rate cut and there is the possibility of rate cuts for other types of consumer loans. The down side is it may negatively affect bank interest rates on savings accounts and the like. If anything it will have a more negative affect on those who are "rich" as they may have more investments that will be affected. These types of cuts are designed to stimulate an entire economy, not to benefit one economic group over another.
To the OP-ask if you can renegotiate or shop around. Even 1/2 of a percent will save money in the long-term as you will pay less interest.
Wrong. This type of rate cut affects short-term rates (but not long-term). Any one with an ARM (Adjustable Rate Mortgage) should see a rate cut and there is the possibility of rate cuts for other types of consumer loans. The down side is it may negatively affect bank interest rates on savings accounts and the like. If anything it will have a more negative affect on those who are "rich" as they may have more investments that will be affected. These types of cuts are designed to stimulate an entire economy, not to benefit one economic group over another.
To the OP-ask if you can renegotiate or shop around. Even 1/2 of a percent will save money in the long-term as you will pay less interest.
