Trader Talk

Toll's Big Discount & Jamie Dimon's Big Stake


Buy our house, get a cheap mortgage.

After the close, Dow Jones is reporting that home builder Toll Brothers announced that they were offering a 30-year fixed rate mortgage for 3.99 percent, a full percentage point below the current rate.

Is that important? Yes.

Take a $300,000 mortgage at the current rate of 5 percent: the monthly payment is $1,610. At 3.99 percent, that $300,000 mortgage is $1,431, a differential of $179, a yearly savings of $2,148.

That is significant. Look for more creative ideas like this got get home buying going.

JP Morgan trading up 3 percent after the close as CEO Jamie Dimon says he bought 500,000 shares of JP Morgan recently.

Move over, Ken Lewis .

  • BofA Stock Soars After CEO Makes Big Share Purchase



Questions?  Comments?