Chat With Jenny

The FEDs acted quickly yesterday morning to reduce interest rates they loan money to banks by 3/4%.  This was an attempt to relieve fears as the overseas stock market dropped. 

The reduction in rates  "should" help reduce the interest rates consumers will get charged on a mortgage or on short term credit purchases. 

I am hoping next week, when the FEDs are expected to meet again, they'll reduce rates one more time.

The banks are hoping the bond market picks up.  When that happens, interest rates will drop. 

Remember that stocks and bonds fight over the same dollar so as stocks go down, bonds go up.  And, when bonds go up, rates go down.

Consumers need to remember.....interest rates are excellent now, and there's more than plenty of inventory to choose from.  If you have decent credit, you shouldn't be worried about moving forward.