7 Smart Ways To Pounce On Low Interest Rates

January 18, 2012

in News

7 Smart Ways To Pounce On Low Interest Rates

While go-go lending was partly to blame for the economy’s current financial troubles, ironically, borrowing money may help ease the country out of the downturn. At least that’s the thinking behind the Federal Reserve’s recent pledge to keep low interest rates into 2013. While this move has not triggered an uptick in consumer confidence, experts agree money probably won’t get any cheaper to borrow than right now. If you have a good-to-excellent credit score and not a lot of debt, you may want to consider ways to take advantage of these historically low interest rates, says Jessica Cecere, regional president for CredAbility, a nonprofit credit counseling and education agency in West Palm Beach, Fla. “Interest rates are so low that consumers should take advantage of these rates, if they can afford to, to help them save money on planned purchases,” Cecere says. So what are some smart borrowing decisions to make while interest rates are low? Rates on long-term fixed-rate mortgages are at their lowest in decades. If you have been putting off your decision to buy a house, now may be the “perfect storm” of low interest rates and low home prices. [Read this article]

Leave a Comment