The Bankers... They Are Saved...

[JDPriestly]

13. In finance, for every winner there is a loser.

And this time, the losers are the prudent, careful savers who get next to nothing for their savings. That may change one of these days.

I always tell people to buy houses when interest rates are high because prices usually go down. You can refinance when the interest rates go up -- and you have a house that costs less. If you buy when prices are high and interest rates down, your payments will never go down. And you pay more for your house than you may be able to get out of it if interest rates go up.

Usually, housing prices go up when interest rates are low. Of course, this time may be an exception because we just went through the bursting of a housing bubble.