Our financial system is crumbling this week.

[Hungary Jack]

LOL. I don't think the solvent banks are finding too many good loan opportunities right now with consumers leveraged to the hilt and cutting back. Most corporations have healthy balance sheets, and aren't really looking to borrow. Others with bad balance sheets are hemorrhaging red ink and are poor loan prospects. And IIRC, banks do not get involved in commercial paper (unsecured short-term loans).

[AWvsCBsteeeerike3]

LOL. I don't think the solvent banks are finding too many good loan opportunities right now with consumers leveraged to the hilt and cutting back. Most corporations have healthy balance sheets, and aren't really looking to borrow. Others with bad balance sheets are hemorrhaging red ink and are poor loan prospects. And IIRC, banks do not get involved in commercial paper (unsecured short-term loans).

I think there is a Wells Fargo Bank in CA offering 4.78% on their website. I'll look later to see if I can find it. Heard it on the news.

[Hungary Jack]

LOL. I don't think the solvent banks are finding too many good loan opportunities right now with consumers leveraged to the hilt and cutting back. Most corporations have healthy balance sheets, and aren't really looking to borrow. Others with bad balance sheets are hemorrhaging red ink and are poor loan prospects. And IIRC, banks do not get involved in commercial paper (unsecured short-term loans).

I think there is a Wells Fargo Bank in CA offering 4.78% on their website. I'll look later to see if I can find it. Heard it on the news.

Sounds like a 6-month CD, maybe one year. Banks do these promotional rates to attract deposits to shore up there reserves and/or to make new loans.

[AWvsCBsteeeerike3]

LOL. I don't think the solvent banks are finding too many good loan opportunities right now with consumers leveraged to the hilt and cutting back. Most corporations have healthy balance sheets, and aren't really looking to borrow. Others with bad balance sheets are hemorrhaging red ink and are poor loan prospects. And IIRC, banks do not get involved in commercial paper (unsecured short-term loans).

I think there is a Wells Fargo Bank in CA offering 4.78% on their website. I'll look later to see if I can find it. Heard it on the news.

Sounds like a 6-month CD, maybe one year. Banks do these promotional rates to attract deposits to shore up there reserves and/or to make new loans.

No, it wsa a 30 year mortgage.

[Hungary Jack]

LOL. I don't think the solvent banks are finding too many good loan opportunities right now with consumers leveraged to the hilt and cutting back. Most corporations have healthy balance sheets, and aren't really looking to borrow. Others with bad balance sheets are hemorrhaging red ink and are poor loan prospects. And IIRC, banks do not get involved in commercial paper (unsecured short-term loans).

I think there is a Wells Fargo Bank in CA offering 4.78% on their website. I'll look later to see if I can find it. Heard it on the news.

Sounds like a 6-month CD, maybe one year. Banks do these promotional rates to attract deposits to shore up there reserves and/or to make new loans.

No, it wsa a 30 year mortgage.

Holy Schmoly.

[cardinalkarp]

I've got a feeling not many qualify for that one.

[AWvsCBsteeeerike3]

Holy Schomly

I can't find it on their site, so i may have heard it wrong. But, I could have sworn i heard cnbc report that this morning on the news b/c my reaction was rather similar.

[AWvsCBsteeeerike3]

I've got a feeling not many qualify for that one.

Still, just the fact it's available, if it indeed is, is crazy.

[Gashouse]

I think there is a Wells Fargo Bank in CA offering 4.78% on their website. I'll look later to see if I can find it. Heard it on the news.

The Wells Fargo website has that rate listed in their "Today's rates" section. It does not say if if you to pay any points to get that rate.

https://www.wellsfargo.com/mortgage/rates/

[Leroy]

http://online.wsj.com/article/SB122953853010114835.html

Chrysler to shut all manufacturing for at least a month.