Some Good News Today?

Aggie67

Just caught the Fox Business Report. They have data today that the phones are ringing off the hook around the country for mortgages. Rates went from 6.5 to 5.65, something like that, in 3 days. For both refi's and purchases. They said the pace of lock ins in the last 3 days hasn't been this high in years. They also said there has been some flexibility in the stiff 20% down requirement, but nothing less than 15%, which is what Fannie and Freddie are now requiring.

I need to see some traction in this story line to buy into it, but man I really want to buy into it. If people went out on a buying spree and the pace of purchases went up, it would be that much quicker that the housing inventory gets cut down, and we'd be that much quicker along towards the end of this mess we're in.

I also got a call from credit card co my business used a few years back (I only use one card now). Haven't used it in 6 years. They said they'd re-issue the card with a 1.9% rate, effective today, if I chose to accept.

Anyone else see or hear anything positive lately credit-wise?

MALCO.New.York

Their timing is impeccable!!!!

__________________
Something to One may be Nothing to another!

Ultimate Wisdom---------
http://www.youtube.com/watch?v=OW-cnizLDEE

Aggie67

Friday's Consumer Confidence numbers came out.

The index jumped to 73.1%. Very big jump, attributed to lower fuel prices. Economists were predicting 64%.

The index hit a low in June's report with 57, then 63 in July, 67 in August, and now 73. I'm looking for the positives, folks.