It wasn’t? Just how big of a cut did “us” Dems expect? A little “wait n’see” by the fed is smart….talk of another 1/4% post election/pre-New Year is on the table.
They were never going to do more than .5%. They are on track to drop it again in Nov, though.
It's this. It's more than likely just a move by the administration to increase sentiment into the election.
Like when Trump took the Fed to task when they started talking about raising rates? This is exactly why The Fed needs to remain “independent” and not tied to a political party…just look at the Supreme Court to see the folly of that.
How bad was your rate to begin with? It's going to have to drop quite a bit more to make that make sense for us.
Until recently where it has become tied to a particular (political) philosophy..
That’s the President’s “bully pulpit”…and only the President has access to it…problem is (and both sides are guilty) is that what is best for the nation/economy is often at odds with what is best for the President/his political party/, and their agenda.
Why wait? If the rates drop again refinance again. We did 3 times in 1 year and are now at 2% on our mortgage. If you have a decent banker they will be able to use most of the valuations and paperwork from a previous refi and save you some costs there too. Ours did, but we use a small town bank.
Just curious, are you sitting on a no-cost refi, or extremely low-cost with a local bank? It has been years since I refinanced into a 2.5% mortgage; but I thought the closing costs were 1.5-2% at the time. I certainly could be wrong though.
We use a small local bank and the refi cost was just a bunch of fees and not a percentage. I think the cost of the first refi was around $1,100. The other 2 were much less, closer to $200 since they could reuse things from our previous refis. But its been so long since we did that I forget all the nuances of how the costs were calculated.
