an inequitable relationship

The “news” was in mortgage rate hysteria mode tonight: “BUY NOW, BUY NOW, BEFORE MORTGAGE RATES GO EVEN HIGHER!!!”

So I checked CD rates at 5/3 bank. Haven’t budged a bit since last winter. “promotional rate” of 0.05% for 12 months. All other amounts and maturities 0.01%.

Steve…sitting on the two global vampire squids that will enjoy a fattening spread

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CD rates have nothing to do with mortgage rates. If the bank can keep CD rates low while raising mortgage rates it will obviously profit.

https://fred.stlouisfed.org/series/MORTGAGE30US

What do you mean by “vampire squids”?

Wendy

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What do you mean by “vampire squids”?

Capitalism doing its job.

The Captain

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What do you mean by “vampire squids”?

Goldman and JPM.

Capitalism doing its job.

When a company pays fines for breaking the law as often as JPM does, it isn’t capitalism, it is a criminal enterprise.

Steve

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