What exactly does that mean? It's great for the cc holders, and heloc holders (although I have fixed rates). I'm wondering - If the rate goes really low, should I refinance my home and make it a 15 year mortgage. If the interest rates on 15 year mortgages hover around 4.5%, we may just have to do it! I would be thrilled to shave off 9 years of the mortgage.
With all this economic unrest, I want to more than ever be DEBT FREE!
Weekending
3 months ago
3 comments:
It's bad if you have savings, but good if you have debt I guess... crazy huh? For mortgages and student loans it should be good though!!!
I'm watching up in Canada to see where we are headed too.... I wonder if it's time to lock some savings up in longer term investments..???
Does your financial system fluctuate with the U.S.? Is it similar? I have some savings in ING, and the interest rate always seems to get lowered when the Fed drops the rate.
Sharon, usually when one goes down, the other goes down too... but now our dollar is extremely strong, so I don't know...............
I'm not sure when they meet again to decide on the rates here...
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