FEDs Raised Interests Rates Today. Did You Know That?

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Come on, I am not in enscrow yet!!!

https://www.washingtonpost.com/news/wonk/wp/2018/03/21/federal-reserve-hikes-u-s-interest-rate-to-highest-level-in-a-decade-amid-stronger-economy/?utm_term=.dba4b77fe5ee

What? You didnā€™t secure your % rate yet?

ā€œCondolences and prayersā€ for you. :wink::wink:

Seriously, I was helping a friend calling people I know around, no less than 4% rate. Now? He is done!

How can I secure my rate yet when we are still negotiating on one thing there? Last night, formally signed papers so I am officially out of Oakland by this weekend. The last time I checked with my Tracie rates were pretty decent still. I believe the 7 year adjustable was what I was targeting. Pretty darn good rateā€¦

Rates will change by night if there is impact ( 10 year notes ). Talk to your finance person and lock it today.

I locked one of my refinance today morning.

Either you proceed, or you use your ā€œpanic buttonā€ telling the owner s/he wonā€™t get a better offer and renegotiate price down.

The stock market isnā€™t bothered by the rate raise

No one can predict the Mr.Market !

Weā€™re 99% done, just that something came up on the inspection and I want him to pay or fix it (since semi substantial) and he wants to get another quote, thatā€™s all. I would consider 50%/50% but only as a last resort. I still want to do earthquake proofing too, which is out of my pocketā€¦

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Make sure you can secure a lower interest rate. Are you OK with the increase?

Are mortgage rates really going to be higher tomorrow? Everyone knew this rate increase was happening. I doubt itā€™ll move mortgage rates much at all.

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Every point matters when you are buying Sir and need a mortgageā€¦

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I called one of my mortgage sources, nothing below 4%:disappointed_relieved:

I talked to my refi mortgage person, it is reduced 0.125% to 0.25% range (yesterday to today). Even though FED rates are hiked, 10 year note is staying or lowering that results Yield curve flattening.

Yield curve Flat or fall is not good for economy as it results downturn. Today, people are talking in Bloomberg and Media was asking the same question to Powell too.

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Libor is more important
http://www.global-rates.com/interest-rates/libor/libor.aspx

But, you know LIBOR itself going away. After 2 years or later, LIBOR may not keep up to date, and that will impact millions of contracts based on LIBOR rate.

Updated July 27, 2017 3:31 p.m. ET
30 COMMENTS
In five years, Libor could be no more.

On Thursday, a top U.K. regulator said it would phase out the London interbank offered rate, a scandal-plagued benchmark that is used to set the price of trillions of dollars of loans and derivatives across the world.

Andrew Bailey, the chief executive of the U.K.ā€™s Financial Conduct Authority, which regulates Libor, said that work would begin to plan for a transition to alternate benchmarks by the end of 2021. ā€œWe do not think markets can rely on Libor continuing to be available indefinitely,ā€ he said.

Thanks, Tracie, for that 3.875% rate!!!

When was it locked? 30 yr jumbo new purchase?

A month or so ago??? 7 year adjustable on my San Bruno investment home buyā€¦

Why did you go for 7 year ARM? BAC/WFC gives 4.25% for 30 fixed ! With four more rate hikes in future, it is better to go for fixed mortgage !