That is right folks. I am done with refinancing my home. What a nightmare. Glad is over. This has been the longest refinance in my history. It took me almost four months. Again, I am glad it is over. 2.75% rate is good. I can live with that. The dollar has gotten so cheap. A loan for 2.75% was unheard of just a few years ago.
If you have not refinanced your home, I say go for it before the interest rates start to go up.
Inflation
This will be the real issue coming up in 2021 and the years ahead. President Joe Biden has signaled that he will increase the corporate tax rate back to 28%. Then he also mentioned that those who earn $400,000+ will see a tax increase. Better get ready.
Someone has to pay for all this government credit card – unlimited credit card – that our government is using to keep the economy going. $1.9 billion. That is a lot of zeros after the 1 and the 9. Who will pay for this? Yes, you and me. The savers and investors. But like I said, it’s better that we just save and invest more instead of complaining. Put the money where people are going to buy products in renewable energy companies or for that matter any company that relies on getting contracts from the government.
Listen, I understand that we have to save our economy but spending like there is no tomorrow is a recipe for a big problem down the road.
This leads to inflation. Have you checked how much you are paying for a gallon of gasoline now? It has gone up by $1. Well here where I live in Washington, D.C. that is the rate increase in gas in less than three months.
Gasoline or petrol is not the only thing that will go up in price. You will start to see the price of meat, milk and eggs go up. Remember the Bic-Mac indicator. Inflation is tracked by looking at the cost of a Bic-Mac in any country. These large international corporations really have a huge impact on the economies of the world.
Refinance Now
Like I said on this post, if you haven’t refinanced your home you better start thinking about refinancing or start the process now because you will save thousands of dollars on the total cost of interest rate over the life of the loan. Just make sure you don’t take any money out whatever you do do not take any money out. All the banks and financial institutions want to do is get you in debt it don’t take any a penny out of your loan to refinance and take advantage of the lowers interest rate you can possibly get.
That’s all folks. Stay safe. I’m back! I’m going to start writing a few more articles but don’t forget to give share my articles on Facebook and tell your friends about the website.
Economy Chief out.