US Federal Reserve Cuts Interest Rates
The US Federal Reservce has cut interest rates sparking hope that the loan and mortgage markets and economy in general can make a recovery.
Other countries across the World have followed suit and it is felt that the European rate could fall and the UK rate could also drop when announced next week.
Does this mean anything to those looking to borrow or with existing borrowings? Not straight away no. It helps for the long term and can only be seen as a positive sign. Lenders such as Banks and Building Societies need to lend to themselves more freely before they start lending to the consumer anywhere near as freely as they used to.
Written by Frank Polenose of
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