DOW just hit a 4 year low...

[Pastore]

Just announced it on CNBC... DOW is down 300 points on the day, and its at 7,695.

Wonder how many day traders won't be coming into work on Monday

 

[HappyPuppy]

Time to buy some more mutual funds.

 

[Anubis]

YEA!!. gla dim 21 and dont have any stock.

but i really dont give a sh!t anyway

 

[TNTrulez]

good time to buy the DOW since it can only go up up up

 

[ggavinmoss]

Originally posted by: TNTrulez
good time to buy the DOW since it can only go up up up

I figure it could go another 10%...

But EVENTUALLY... it'll go back up. :-/

-geoff

 

[UberDave]

that's what they said back in the day.......

 

[RossMAN]

I'm just hoping another black Monday isn't looming around the corner

 

[rh71]

Mortgage rates are also at a 40-year low... avg'ing just under 6.0% for the week.

I just got quoted 5.875% w/ 0 points for a 30-year fixed!!! Locking in within the next 5 days. That reminds me to ask... do banks charge a fee for "locking-in" to a rate? Not talking about an application/credit/appraisal fee.

 

[SCSIfreek]

i got no stocks .... so the hell with them all!!!!! let it fall!!!! er... wait a minute!!1 i still own Micron Stocks back in the days where everything was high and up. DAMN!!!!! Look at the Real Estate Market its not a good sign.....


--Scsi

 

[SHoddyCOmp]

easy for everybody to say that dont have anything to do with stock, but this is majorly SHITTY for me. I have like zero usable college fund left (in college now, too). Ugh....

 

[XZeroII]

I wonder where all the Bush bashers are? There are usually a few ignorant people who will claim that everything is Bush's fault lurking around. Anyway, it all just depends on what the big boys do. If they decide to start sinking billions into the market again, then it will go up.

 

[rh71]

Originally posted by: XZeroII
I wonder where all the Bush bashers are? There are usually a few ignorant people who will claim that everything is Bush's fault lurking around. Anyway, it all just depends on what the big boys do. If they decide to start sinking billions into the market again, then it will go up.

The big boys are sinking anything into the market anytime soon. They're still laying people off left and right.

 

[NogginBoink]

Originally posted by: rh71
Mortgage rates are also at a 40-year low... avg'ing just under 6.0% for the week.

I just got quoted 5.875% w/ 0 points for a 30-year fixed!!! Locking in within the next 5 days. That reminds me to ask... do banks charge a fee for "locking-in" to a rate? Not talking about an application/credit/appraisal fee.

Depends on the lender. Some charge for a rate lock, others don't.

I just locked 5.5% on a 15 year mortgage refi and wasn't charged to lock the rate.

 

[NikPreviousAcct]

w0ot - now's the time to sell my Intel stock that I got from my grandfather's estate and not pay capital gains tax!!!!!!!

WOOHOO!!

Oh, wait, I think I still have a little faith in Intel. DAMMIT.

nik

 

[tm37]

Originally posted by: Beast1284
Just announced it on CNBC... DOW is down 300 points on the day, and its at 7,695.

Wonder how many day traders won't be coming into work on Monday

and amazingly that is still OVER DOUBLE WHAT IT WAS 10 Years ago.

The thing to remember is that stocks are a LONG TERM investment LONG TERM let me say that again


LONGTERM!

any fincial advisor will tell you if you need SHORT TERM security you need to invest in BONDS or a BOND fund where as stonks provide for LONG TERM growth.

SHoddyCOmp - there is a part of me that feels bad for you BUT your finacial planner blew it. If you are currently in college and your fund is still in the stock market then someone dropped the ball. People who were planning to retire in a few years who still had the bulk of their retirement in stocks had BAD finacial planning plain and simple the closer your get to retirement or college the less volital investment you can with stand. People were able to get away with POOR finacial planning for the past ten years and are now paying for it.

 

[DonaldC]

Why should stocks go up when earnings aren't?

 

[dirtboy]

Let it fall... I don't care. Based on my personal projections, I think we should be seeing the market settle down, but then today surprised me.

 

[Vic]

Originally posted by: rh71
Mortgage rates are also at a 40-year low... avg'ing just under 6.0% for the week.

I just got quoted 5.875% w/ 0 points for a 30-year fixed!!! Locking in within the next 5 days. That reminds me to ask... do banks charge a fee for "locking-in" to a rate? Not talking about an application/credit/appraisal fee.

Good deal. Rates change daily though so (if you like that rate and price, which you should damnit it's the lowest in 40 years! ), I recommend locking in ASAP. The market could move on Mon (either way or not at all, no one knows) and you could miss it.
Lock fees vary by lender, although most don't have them. Be aware though that most banks right now are literally swamped in refi's, some to the point where they can't take in any new refi apps without hurting process times for purchases (which always have priority). Because of this, we are now starting to see many banks increase their app and lock fees.

Anyway, nice to see rates improve again since the bond tanked on Wednesday. They still aren't quite as good as Tuesday (I'm referring to fee pricing not the actual rates), but the outlook continues to be good. As for the market, I personally think we have a ways to go, although it'll be a bumpy up-and-down ride to get there before we really start to go back up.

 

[ParagonX]

If i had the extra cash to invest right now, i'd be buying.

 

[Piano Man]

My stock broker who is a good friend thinks it will go down to 5000 before it rebounds.............

 

[NesuD]

I'm buying right now. Lost a load over the last 3 years or so but made a lot more than I lost the 5 years before that.

 

[Vic]

Originally posted by: Piano Man
My stock broker who is a good friend thinks it will go down to 5000 before it rebounds.............

Your broker is a wise and honest man.

 

[wQuay]

good time to buy the DOW since it can only go up up up

And your judgement is based on ? The high reached by FRAUDULENT earnings reports?

 

[Lucky]

5.8% for a mortgage? Holy crap! :Q

 

[Vic]

Originally posted by: Lucky
5.8% for a mortgage? Holy crap! :Q

FNMA/FHLMC 30 year fixed at 0% origination at that! Nice deal, although the 0 points might have something to do with his larger loan amount

rh71, have you given your previous broker a chance to meet this deal? Or is this from that broker and he is able to get you a better deal now that the market has improved? I could go on for days and days about the pros and cons (and outright dangers) in mortgage shopping, especially after already starting and applying with one lender and then switching midstream. My advice is, as always, to shop first and find a loan officer and lender that you like and trust, who is giving you a good competitive deal (and has put that deal in writing as is required by law) and stick with that lender (as long as they uphold their end of the deal).
Those commercials from LendingTree.com are absolute fantasy. We all want more business, but the only desperate loan officers are either incompetent or liars, especially now that most of us are swamped with almost more business than we can handle.

edit: spelling