CNBC going nuts with "Breaking News"

Quote from MrDODGE:

They are trying to pump the market again. Breaking news flag is being shown on every story.
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It's funny you mention that.

I had someone show up the other day wanting to refinance their mortgage.

They had a 4.5% on an existing 30 yr fixed from a few years back and wanted to refi into (at a minimum) 6.0%.

When I asked them what made them want to do such a thing- They said "because rates are lower now, they were talking about it on CNN and CNBC so I wanted to take advantage of it while it lasts".

Then they were angry almost to the point of argument that rates were not lower even though CNBC said they were. They were telling me I was wrong.

LOLOLOL

Funny how many people are so easily manipulated by financial TV shows/news.
 
Quote from Reaver:

It's funny you mention that.

I had someone show up the other day wanting to refinance their mortgage.

They had a 4.5% on an existing 30 yr fixed from a few years back and wanted to refi into (at a minimum) 6.0%.

When I asked them what made them want to do such a thing- They said "because rates are lower now, they were talking about it on CNN and CNBC so I wanted to take advantage of it while it lasts".

Then they were angry almost to the point of argument that rates were not lower even though CNBC said they were. They were telling me I was wrong.

LOLOLOL

Funny how many people are so easily manipulated by financial TV shows/news.
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It's funny, but it also shows exactly how ignorent your average American homeowner/consumer is when it comes to credit and the markets. That is at least as scary as it is funny.
 
Quote from Brandonf:

It's funny, but it also shows exactly how ignorent your average American homeowner/consumer is when it comes to credit and the markets. That is at least as scary as it is funny.
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You are absolutely right.
 
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