The thing is that there are some in the finance sector that got more than a bit spooked. This causes all sorts of downstream impacts some of which are felt even out here.
Things like the mortgage market for instance.
It turns out there are some mortgages that are being written for only 3.250% interest. I remember when my mom was talking about the 16+% loans in the early eighties. To think that money would have gotten this cheap is almost unbelievable.
I’ll take it.
I managed to snag one of those and kick of a refinance of my existing note. It’s only a little less — 3/8ths to be precise — but it’s enough to lower my payments a bunch. Ok, some of that is from stretching the length of the loan back to 30 years from the existing 26 years. But even with that, the savings are worth it. If I roll the savings back into principal I’ll cut off a few more years from the loan anyway. And it’s a quick way to give additional flexibility to the monthly budget.