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Obama, Financial Advisor-in-Chief
President Barack Obama seems to be comfortable telling Americans how to handle their personal finances. A while back, didn't he say it was a good time to buy stocks? And today, he says it's a good time to refinance your mortgage.
This in from AP: "Speaking at the White House, Obama on Thursday emphasized that that average rates on 30-year fixed-rate mortgages have dropped to 4.78 percent. That is the lowest rate on record.
Said the president: "People can really take advantage of this."
(Note to the Chief: When Freddie Mac later on announed the weekly average, it had popped upt o 4.87 [ercemt.)
It's still good rate and it might even go lower in weeks to come.
This chance to grab low rates may not come back around again for a while. At least, while our Financial Advisor-in-Chief is in office.
I wrote about the rush to refinance two weeks ago. You can have a look at my story here:
http://www.sun-sentinel.com/features/home/sfl-flzrefi0328sbmar28,0,8300.story
Harriet Johnson Brackey, the personal finance writer for the Sun-Sentinel, has been an award-winning business...
Comments
Obama- please have your close friend Tony Rezko contact me as I would like to buy a new place and I understand he can help greatly in such matters as he did in your case. I need some more land next door and really don't want to pay for it. Thanks, Messiah!
Posted by: Big D | April 9, 2009 4:57 PM
I think COMRADE would be a better choice than financial advisor-in-chief.
Posted by: KCK | April 10, 2009 8:03 AM
Unfortunately, the government's financial plan for the country is more of the same- spend more than you make and go into deeper debt. For individuals this is a serious time and they should search for a professional financial advisor if they are worried. My firm matches investors to the right advisor for their needs.
Mel Marten, CFA
President, ClaroConnect.com
Posted by: find a financial advisor | April 14, 2009 7:20 PM