Thursday, May 01, 2008

Fed Cuts Rates Again...

The Federal Reserve cut the key interest rate by a quarter point. This marks the 7th cut this year by the central bank. The question of course is what does this mean for you?

Credit Cards: Now is a good time to ask your credit card company for lower rates or simply shop for better ones.

Auto Loans: The loans have certainly been coming down lately but beware of extending that loan to far lest you pay out oodles of interest.

Student Loans: If you have a variable rate on your student loan, you might see a drop in your interest rate. Take advantage of this opportunity.

Refinancing: With the Avg 30 yr fixed rate mortgage at 6 % now would be an opportune time to lock it in.

No comments: