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Thread: Mortgage Rates
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Old 12-20-2008, 01:34 PM
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Default Re: Mortgage Rates

Ray Zor - 12/20/2008 2:27 PM

That is exactly what I would have done 2 years ago. Not now.
what would be your main investment to get a fair return?
I am not touching my 401k, mutuals or stocks even though they are tanking. Hopefully I am buying volumes that hope will bounce back with a decent return.

As much as I hate to admit it (and I don't want to start an Obama bashing), I have very little confidence in this country's financial future or what may happen to our $$ to thoseof us who have a substantial $$ nest-egg.
I do have some time on my side though. Not going to retire anytime soon. within 15 years.
Kind of in the same situation myself for the last several years. Now I am looking for a new house to buy while keeping the old one, so that changes it up a little, but if I were in your position again, I might be tempted to pay off 50k, refi for 15 yrs at 4.25 or so and keep the rest of your cash in hi-yield savings and/or short term CD's in case the sky starts falling. Your 15 year note will be pennies on the dollar compared to what you were paying before and if you want, you can pay double notes. That way, you can "play it as it unfolds". Also, at 4.25 or so, it's like free money anyway! I bet we see higher inflation rates than that in the next few years.