A Quote by Franklin Raines
Right now we think that rates will stay low, that you'll be able to get a mortgage below seven percent and that's kicked off a refinance boom that's going to put more money in the pockets of consumers.
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We think if the economy remains weak that we could see mortgage rates trail down and we think that we could see rates below seven percent into early next year.
Well, we're just now seeing the reductions in mortgage rates. The mortgage rates are based on the ten-year rate and the Fed controls the overnight or the shorter rates.
When somebody makes it very easy for you to do it by saying you don't really have to put up my money, you can lie about your income a little, or we'll give you 100 percent mortgage, you're going to do it, because everybody that's done it has been proven right. You have social tools, and you're going to feel like an idiot if you didn't do it, because the house cost more.
Well, I think the best form would be to put money directly in the pockets of consumers.
If you're one of the millions of people who have student debt right now, I'll help you refinance your loans at better rates.
Maybe you'll take the cash out. So a credit card company or a bank that goes into the business of saying we're going to be the broker, we're going to sell you a mortgage that you're going to be able to pay off, we're going to help you reduce your credit card debt, we're going to help you save for retirement, we're going to put you into mutual funds that have low fees rather than high fees.
Despite a lingering low inventory and increasing prices, consumers still have the confidence to purchase a home. More and more people recognize the many opportunities in this market and the significant value of low interest rates. As job creation and wages continue to improve, many more first-time buyers are now making the decision to become homeowners.
If you bring [tax] rates down, it makes it easier for small business to keep more of their capital and hire people. And for me, this is about jobs. I want to get America's economy going again. Fifty-four percent of America's workers work in businesses that are taxed as individuals. So when you bring those rates down, those small businesses are able to keep more money and hire more people.
If you really think that houses prices are going to go up next year and the year after, you feel if I don't buy it this year, I'm going to have to buy it next year. [...] And when somebody makes it very easy for you to do it by saying you don't really have to put up my money, you can lie about your income a little, or we'll give you 100 percent mortgage, you're going to do it, because everybody that's done it has been proven right. You have what they call social tools, and, you know, you're going to feel like an idiot if you didn't do it, because the house cost more.
Now shut the engines off. Come down and flatten out, feel the long float, and at the given moment pull the stick right home. She's down. Now taxi in. Switch off. It's over - but not quite, for the port engine, just as if it knew, as if reluctant at the last to let me go, kicked, kicked, and kicked again, as overheated engines will, then backfired with an angry snorting: Fool! The best is over ...But I did not hear.
Absolutely invest in retirement. You can always get a loan to get kids through school. I do not know of any loans to get you through retirement. The markets are seriously low from where they were (even though they've gone up 30 percent recently). Now is the time to be dollar cost averaging; the more money you put in, the more shares you buy. Save for your retirement, people.
If I had more recreation time I would be able to step back and reflect on how life has changed. But it has been like a constant... boom, boom, boom, boom, boom!
With interest rates artificially low, consumers reduce savings in favor of consumption, and entrepreneurs increase their rates of investment spending.
There is no better way to quickly buoy hard-pressed homeowners than helping them take advantage of the currently record low fixed mortgage rates and significantly reduce their monthly mortgage payments.
Homeowners refinance their loans when interest rates go down. Businesses refinance their loans.
I've told the UFC brass I want big fights: fights that are going to put money in their pockets and money in my pockets and staple me as one of the best of all-time.
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