You Too Can Benefit From Low Interest Rates
With the recent [tag]Fed rate cut[/tag], interest rates are at an historic low. Consumers who typically spend more than their income should utilize this phenomena as a gift. Burdened with heavy debt, homeowners should pay down their credit cards and [tag]refinance[/tag] their mortgages as fast as they can.
When the Fed dropped the recommended rate that federally insured banks borrow from each other, the situation impacted consumers immediately in a number of ways. First, short-term borrowing rates immediately improved on credit cards, [tag]equity lines of credit[/tag], car loans — most all forms of consumer credit.
Second, mortgage interest rates are coming down. If you have an [tag]adjustable rate loan[/tag], refinance into a low fixed-rate. If you are thinking of buying a home, talk to your mortgage lender and let him or her run your credit report. He or she will tell you whether or not it’s smart to consolidate your credit cards.