I’ve really been somewhat riveted by the current economic crisis. Each day seems to bring new twists and the numbers are getting worse by the month. Today they announced a 2.7% decrease in December retail sales. Isn’t December the month where everyone is supposed to go gangbusters and spend tons of money they don’t have? Apparently not last December. I’ve read more than a few
Back in 2005 I asked the question, “What would happen if everyone saved 10% of their income?“. What a difference a couple years makes. My original theory was that our economy would falter significantly. Here’s what I said back then: My take on this is that, if everyone was consuming 10% less, our economy would head south. Our economy is based on growth, and if
As I’ve mentioned in a couple previous posts, we are in the middle of refinancing our home. So far we have: Applied online with our credit union Been approved with a 4.875% 30 year fixed loan Submitted pay stub information Submitted insurance and tax information to escrow Had our home appraised for $416,000 We are now awaiting notification that we are ready to sign and
Happy New Year! I’ve had the last two weeks off from work and have enjoyed spending time with my wife and daughter as well as just relaxing around the house. We had a very interesting weather pattern here leading up to the new year so I also shoveled more snow than I ever have in my life. Christmas was low key and I think we
Wow. It’s amazing what a difference a week makes. It was only a little over a week ago that I was feeling bummed that rates had gone down since I locked in at 4.875% for a 30 year fixed. Fast forward to today and my credit union’s rate has increased to 5.45% for a 30 year fixed. That’s after being down to less than 4.5%
Today was one of those days that you remember for the rest of your life and I didn’t spend a nickel all day. Up here in the Pacific Northwest the weather has been a little abnormal. By that I mean that it snowed. It has been cold for a week and we even saw temperatures in the single digits overnight in a couple areas. With
I liked this 2 minute video talking about why you should spend less on Christmas. It seems like an appropriate video to share during these harder economic times and my overall desire to tout the benefits of jumping off the Christmas present orgy express.
Well, it never seems to fail. I’ve never been able to time the market and trying to time interest rates has proven to be just as difficult. I locked in our refinance rate at 4.875% for a 30 year fixed rate loan. It’s a great rate and I’m thrilled to have gotten it. Of course rates have come back down further since then. My credit
I think everyone should collectively pat themselves on the back. All it took to start reigning in the debt was a massive financial collapse. Hopefully this trend will continue. http://money.cnn.com/2008/12/11/news/economy/flow_of_funds/index.htm?postversion=2008121114 Anyway, check out the article. It’s interesting. I wonder if people are willfully changing their habits, or whether it’s just a lack of available credit……
It was finally too much for me to ignore. We have been paying 5.75% on our mortgage for the last 6 years. We’ve always felt that was a great rate, especially when you consider historical rates. Well, the appeal of a sub 5% loan was finally too much to keep me on the sidelines. We were able to secure a new loan at 4.875% for
