Thanks To The Coronavirus, It’s A Great Time To Refinance Your Debt
Following the market’s worst week since the 2008 financial crisis, the Federal Reserve announced early this month that it was slashing the federal rate by 0.50% to a new target range of 1% to 1.25%.
The hope is that as the world economy slows due to problems caused by the coronavirus, lower interest rates will encourage Americans to keep spending and borrowing, helping the U.S. economy stay ahead of the damage. And as the coronavirus continues to disrupt manufacturing, supply chains, travel and other important industries, it’s rumored that the Fed may cut rates again ― all the way down to 0%.
However, the Fed is limited in how much damage control it can really do. For people who have the ability (and …continued .
[Source: Huffington Post]