Quote:
Originally Posted by formula1
Unfortunately, most banks in the past month that we deal with have RAISED rates as much as 1/4 to 1/2% and have removed any special discounts. I was realizing then, that the Feds are lowering interest rates to stimulate the economy, but the banks are raising their rates claiming their cost of funds are up (repos, delinquincy etc) just to put more money in their pockets (or offset losses).
So, lets add fuel to the recession fire...  |
Well, to be fair, they are only lowering the short term rates.
Long terms are market driven, and with the economy in the crapper and inflation rearing its head big time, I expect rates to keep going up, even with another cut. It's all about the expected returns.
