Comments on: Rate Cuts: What does it mean? http://wideopenwallet.com/2008/10/rate-cuts-what-does-it-mean/ An honest look at family finances Wed, 17 Mar 2010 21:56:16 +0000 http://wordpress.org/?v=2.5.1 By: studen loan debt http://wideopenwallet.com/2008/10/rate-cuts-what-does-it-mean/#comment-3633 studen loan debt Wed, 24 Dec 2008 14:33:16 +0000 http://wideopenwallet.com/?p=259#comment-3633 I would define an altruistic career as one in which you place some greater good in front of personal gain. I would define an altruistic career as one in which you place some greater good in front of personal gain.

]]> By: The Carnival of Personal Finance #174 | Personal Finance Blog by Debit versus Credit http://wideopenwallet.com/2008/10/rate-cuts-what-does-it-mean/#comment-2148 The Carnival of Personal Finance #174 | Personal Finance Blog by Debit versus Credit Mon, 20 Oct 2008 16:06:39 +0000 http://wideopenwallet.com/?p=259#comment-2148 [...] Rate Cuts: What Does It Mean? [...] [...] Rate Cuts: What Does It Mean? [...]

]]> By: “Best Posts of the Week” Sunday Round Up | The Ultimate Money Blog http://wideopenwallet.com/2008/10/rate-cuts-what-does-it-mean/#comment-1965 “Best Posts of the Week” Sunday Round Up | The Ultimate Money Blog Sun, 12 Oct 2008 15:14:04 +0000 http://wideopenwallet.com/?p=259#comment-1965 [...] at Wide Open Wallet explains what the rate cuts mean.  Feds have cut prime rate again, hoping this will help the economy.  If you’re confused on [...] [...] at Wide Open Wallet explains what the rate cuts mean.  Feds have cut prime rate again, hoping this will help the economy.  If you’re confused on [...]

]]> By: Kristy’s Weekly Roundup: The Birthday Edition http://wideopenwallet.com/2008/10/rate-cuts-what-does-it-mean/#comment-1956 Kristy’s Weekly Roundup: The Birthday Edition Sun, 12 Oct 2008 04:14:53 +0000 http://wideopenwallet.com/?p=259#comment-1956 [...] Ashley over at Wide Open Wallet talks about the Fed cutting rates…again…and what that means for us. Do you think rate [...] [...] Ashley over at Wide Open Wallet talks about the Fed cutting rates…again…and what that means for us. Do you think rate [...]

]]> By: Kristy’s Weekly Roundup: The Birthday Edition | Master Your Card http://wideopenwallet.com/2008/10/rate-cuts-what-does-it-mean/#comment-1947 Kristy’s Weekly Roundup: The Birthday Edition | Master Your Card Sat, 11 Oct 2008 17:23:53 +0000 http://wideopenwallet.com/?p=259#comment-1947 [...] Ashley over at Wide Open Wallet talks about the Fed cutting rates…again…and what that means for us. Do you think rate [...] [...] Ashley over at Wide Open Wallet talks about the Fed cutting rates…again…and what that means for us. Do you think rate [...]

]]> By: philip http://wideopenwallet.com/2008/10/rate-cuts-what-does-it-mean/#comment-1900 philip Thu, 09 Oct 2008 13:28:18 +0000 http://wideopenwallet.com/?p=259#comment-1900 The interest rate on mortgages are not as likely to go down because they are usually 30 year loans, the banks have to base everything on a 30 year outlook, the fed rate is likely to go back up well before then and the bank does not want anyone locking in too low. They also are scared to do any new loans at all right now anyway. Student loans have several things that could happen also. If your loans are consolidated then you are fixed and no change. If your loans originated after 2006 then you get a big nasty fixed rate of something around 6.4% but it is decreasing (thanks government for sticking me with a huge rate). If your loans are from before then and are not locked in then you can consolidate, right now at 4.21%. This is based on T-bills 90 day auction rates plus 2.3% i think. However this is only recalculated based on that last auction in May. If our market stays down through next may you might get a lower rate,right now it would be about 3.7% or so. Just keep your eye out for new news around that time. The interest rate on mortgages are not as likely to go down because they are usually 30 year loans, the banks have to base everything on a 30 year outlook, the fed rate is likely to go back up well before then and the bank does not want anyone locking in too low. They also are scared to do any new loans at all right now anyway.

Student loans have several things that could happen also. If your loans are consolidated then you are fixed and no change. If your loans originated after 2006 then you get a big nasty fixed rate of something around 6.4% but it is decreasing (thanks government for sticking me with a huge rate). If your loans are from before then and are not locked in then you can consolidate, right now at 4.21%. This is based on T-bills 90 day auction rates plus 2.3% i think. However this is only recalculated based on that last auction in May. If our market stays down through next may you might get a lower rate,right now it would be about 3.7% or so. Just keep your eye out for new news around that time.

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