Hope U are having good day as I am.....:)

[AlinaCam]

well thank goodness for the Fed to lower the rate.
I am up 5% of my lost and still got another 5% to be back where I was 2 weeks ago. But meantime, did make about $5K betw trades on mortgage stocks.. http://onlinetradersforum.com/styles/default/xenforo/clear.png

well folks, have a great weekend and hope this continues for few days..
off to Canada for weekend.. http://onlinetradersforum.com/styles/default/xenforo/clear.png

[alisavb69]

Bush was playing monopoly last night and thought he would just use all those pretty colorful fake bills because their about as good as the dollar is going to be once he is done with our country. :twisted:

[AlgordDiggill]

My friend, I am afraid you aren't seeing the big picture. The fed is doing it's job, providing liquidity. That's it's mandate. While it does appear to "bail out" some of the knuckleheads (in fact it does do that), it provides for the stability of the market and the entities who are necessary for the conduction of business. When prime is affected by the sub-prime nonsense it is necessary for the FOMC to step in and provide the cash so good credit risk entities can get the money they need, greasing the wheels so to speak. By using open market ops, especially pre-open today the FOMC wielded a master stroke, giving a boost to the credit market and giving the equity bears a good kick in the pants at the same time. Nicely done in my opinion, and I am on record as being wholly unimpressed by the FOMC (especially the inflation hawks) in the current chairmans tenure.

[Aliciaet]

Too true. Inflation should be right around the corner. The dollar is going to drop relative to the Euro, and every other currency (just look at the Yen), and we'll see less commodity trades in dollars thus decreasing the demand for the Greenback and raising the import costs for most of the goods everyday Americans consume. Oh well, at least Wall St. is happy :roll:

[admin]

I have never cared for ARM's, and they aren't necessary in a declining rate environment. You can always refinance to a lower rate. I am still gun shy with the current makeup of the FOMC, when the Pooles and the Moskows are still talking about inflation as the biggest risk who knows where the rates will go.
If you have the 20% and aren't pressed for time I would be looking now but would be making low ball offers only. My rule of thumb is 15-20% below the asking price or lower.