weird

by MaxEntropy_Man Thu Oct 16, 2014 10:29 am

employment news is good, but market is still tanking and interest rates went down. doesn't make sense. but refi time again.

by Marathadi-Saamiyaar Thu Oct 16, 2014 11:13 am

I posted 2 weeks ago - dont have patience to dig it up - Oil/Gold/interest rate/housing all were down...

I got a mortgage rate of 3.5% last year - one of the rarest times when I made the call perfectly. dont think it will go down any further.

ISIS, Ebola, very tight credit in lending, and Continued speculation-based looting in Wall Street - all contributing to it. I pulled out 1/2 my retirement into money market some time back and thinking of dumping it all back into the market this evening.

by southindian Thu Oct 16, 2014 11:16 am

MaxEntropy_Man wrote:employment news is good, but market is still tanking and interest rates went down. doesn't make sense. but refi time again.

Uncertainty

And blame it on Europe this time. European countries not doing well and Euro going down.

In US

Deficit gap down 29% (a small surplus shown in one quarter) last year
Unemployment rate still the lowest
More people have jobs
People are saving more
Since markets are doing well, retirement saving are fine
Fuel costs are down
Healthcare increase by slowest margin ever

And Obama/Dems are set to lose to Republicans. Huh

by MaxEntropy_Man Thu Oct 16, 2014 11:24 am

I locked in 3% no closing costs 15 year term. Reduced my term by two years and saved a good chunk of change without changing my monthly payment.

by MaxEntropy_Man Thu Oct 16, 2014 11:37 am

Marathadi-Saamiyaar wrote:I posted 2 weeks ago - dont have patience to dig it up - Oil/Gold/interest rate/housing all were down...

I got a mortgage rate of 3.5% last year - one of the rarest times when I made the call perfectly. dont think it will go down any further.

ISIS, Ebola, very tight credit in lending, and Continued speculation-based looting in Wall Street - all contributing to it. I pulled out 1/2 my retirement into money market some time back and thinking of dumping it all back into the market this evening.

what term? look again. rates are down today. call your broker.

by Marathadi-Saamiyaar Thu Oct 16, 2014 11:49 am

MaxEntropy_Man wrote:
Marathadi-Saamiyaar wrote:I posted 2 weeks ago - dont have patience to dig it up - Oil/Gold/interest rate/housing all were down...

I got a mortgage rate of 3.5% last year - one of the rarest times when I made the call perfectly. dont think it will go down any further.

ISIS, Ebola, very tight credit in lending, and Continued speculation-based looting in Wall Street - all contributing to it. I pulled out 1/2 my retirement into money market some time back and thinking of dumping it all back into the market this evening.

what term? look again. rates are down today. call your broker.

my 3.5 % was at 30 yr term. Today's rate is at 3.03 for 15 yr term. dont think will gain much.

The man who is good in these things are none other than the Money Shark Slum Lord - Bittu.... Wink

by MaxEntropy_Man Thu Oct 16, 2014 1:24 pm

Marathadi-Saamiyaar wrote:
MaxEntropy_Man wrote:
Marathadi-Saamiyaar wrote:I posted 2 weeks ago - dont have patience to dig it up - Oil/Gold/interest rate/housing all were down...

I got a mortgage rate of 3.5% last year - one of the rarest times when I made the call perfectly. dont think it will go down any further.

ISIS, Ebola, very tight credit in lending, and Continued speculation-based looting in Wall Street - all contributing to it. I pulled out 1/2 my retirement into money market some time back and thinking of dumping it all back into the market this evening.

what term? look again. rates are down today. call your broker.

my 3.5 % was at 30 yr term. Today's rate is at 3.03 for 15 yr term. dont think will gain much.

The man who is good in these things are none other than the Money Shark Slum Lord - Bittu....

no brainer in my case. i had a twenty year term mortgage at 3.5% on which i had eighteen years left and i was already paying extra. so i took the 3% no closing costs deal with no change to my payments, cut my term by a few years and saving a good bit of money. not a fan of 30 years. i'll be a koLLu thAthA otherwise by the time i free myself from this millstone.

by Marathadi-Saamiyaar Thu Oct 16, 2014 1:31 pm

MaxEntropy_Man wrote:
Marathadi-Saamiyaar wrote:
MaxEntropy_Man wrote:
Marathadi-Saamiyaar wrote:I posted 2 weeks ago - dont have patience to dig it up - Oil/Gold/interest rate/housing all were down...

I got a mortgage rate of 3.5% last year - one of the rarest times when I made the call perfectly. dont think it will go down any further.

ISIS, Ebola, very tight credit in lending, and Continued speculation-based looting in Wall Street - all contributing to it. I pulled out 1/2 my retirement into money market some time back and thinking of dumping it all back into the market this evening.

what term? look again. rates are down today. call your broker.

my 3.5 % was at 30 yr term. Today's rate is at 3.03 for 15 yr term. dont think will gain much.

The man who is good in these things are none other than the Money Shark Slum Lord - Bittu....

no brainer in my case. i had a twenty year term mortgage at 3.5% on which i had eighteen years left and i was already paying extra. so i took the 3% no closing costs deal with no change to my payments, cut my term by a few years and saving a good bit of money. not a fan of 30 years. i'll be a koLLu thAthA otherwise by the time i free myself from this millstone.

I thought of paying extra...but Money is Cheap at 3.5% so whats the point in paying off early. At this rate, you are not likely to retire before 68 - your SS age of retirement - or more likely at 70. With your health in great shape you will cough your life till 90. Paying off early is good when you have a higher interest rate. Of course, you are at a costlier housing market. You can sell this at 70 and exchange for a house in San Diego - if necessary. So many other factors. I will have to keep a watch on the rate though.

Of course, you are talking to a guy who has never read a line in an economics book.

by MaxEntropy_Man Thu Oct 16, 2014 1:47 pm

Marathadi-Saamiyaar wrote:
MaxEntropy_Man wrote:
Marathadi-Saamiyaar wrote:
MaxEntropy_Man wrote:
Marathadi-Saamiyaar wrote:I posted 2 weeks ago - dont have patience to dig it up - Oil/Gold/interest rate/housing all were down...

I got a mortgage rate of 3.5% last year - one of the rarest times when I made the call perfectly. dont think it will go down any further.

ISIS, Ebola, very tight credit in lending, and Continued speculation-based looting in Wall Street - all contributing to it. I pulled out 1/2 my retirement into money market some time back and thinking of dumping it all back into the market this evening.

what term? look again. rates are down today. call your broker.

my 3.5 % was at 30 yr term. Today's rate is at 3.03 for 15 yr term. dont think will gain much.

The man who is good in these things are none other than the Money Shark Slum Lord - Bittu....

no brainer in my case. i had a twenty year term mortgage at 3.5% on which i had eighteen years left and i was already paying extra. so i took the 3% no closing costs deal with no change to my payments, cut my term by a few years and saving a good bit of money. not a fan of 30 years. i'll be a koLLu thAthA otherwise by the time i free myself from this millstone.

I thought of paying extra...but Money is Cheap at 3.5% so whats the point in paying off early. At this rate, you are not likely to retire before 68 - your SS age of retirement - or more likely at 70. With your health in great shape you will cough your life till 90. Paying off early is good when you have a higher interest rate. Of course, you are at a costlier housing market. You can sell this at 70 and exchange for a house in San Diego - if necessary. So many other factors. I will have to keep a watch on the rate though.

Of course, you are talking to a guy who has never read a line in an economics book.

yes, a bit of this is psychological. i have a relative who does nothing but 3/1 ARMS which is always at least 1% point lower than the corresponding 15 year product. he swears by it. he's been refiing every time the rates have gone down. his point is he can risk it by taking the ARM and if the rates do start to go up, the time scale over which it starts to go up is not that short that he can always switch to the 15 year product. i really think he has come out ahead using this strategy. i have a psychological problem with ARMS. has probably hurt me financially.

by Marathadi-Saamiyaar Thu Oct 16, 2014 2:04 pm

MaxEntropy_Man wrote:

yes, a bit of this is psychological. i have a relative who does nothing but 3/1 ARMS which is always at least 1% point lower than the corresponding 15 year product. he swears by it. he's been refiing every time the rates have gone down. his point is he can risk it by taking the ARM and if the rates do start to go up, the time scale over which it starts to go up is not that short that he can always switch to the 15 year product. i really think he has come out ahead using this strategy. i have a psychological problem with ARMS. has probably hurt me financially.

I almost did what your relative did using the same logic. The deal for a flat on Newbury St. in Backbay fell through bcz the 5/1 ARM approval took a few days longer (I sat on it for 1 week and wasted my time HERE). Excellento property and the value went up > 20% over the next 2 years. Was going to worry about refinancing after 5 years. I barely missed becoming a Bostonian. Anyway...lost out on that. Learnt a thing or two about Boston RE and the various condo rules/types.

by Marathadi-Saamiyaar Thu Oct 16, 2014 2:37 pm

Moved 25% of my retirement funds back into equity - but in Index funds. Did not have the guts to move the rest of it in Bond/MMKT.

Let me wait and see if I made the right call.

by FluteHolder Thu Oct 16, 2014 3:28 pm

An unrelated question to Samiyaar. On your retirement funds. Have you read the fine prints on the account/custodian. Is your investments(retirement account) are protected (which may be in equities or in cash) by SIPC or any govt agency in case of a market meltdown or custodian/broker going belly up?

by Marathadi-Saamiyaar Thu Oct 16, 2014 3:32 pm

FluteHolder wrote:An unrelated question to Samiyaar. On your retirement funds. Have you read the fine prints on the account/custodian. Is your investments(retirement account) are protected (which may be in equities or in cash) by SIPC or any govt agency in case of a market meltdown or custodian/broker going belly up?

Perhaps, I will look at it closely. In any case, I intend to work on my 2 MWJs as long as I am able to. Actually, I am looking for a 3rd MWJ.

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