Bible Money Matters

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What Do Recent Interest Rate Drops Mean For You?

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Interest rates have been dropping lately thanks to moves by Fed chairman Ben Bernanke, but what do the lower interest rates mean for you?

  • Lower mortgage rates: At 5.67% in February (plus an average 0.4 percentage point), the average rate for a 30-year fixed-rate mortgage was near a four-year low.
  • Credit card rates: Variable interest rate cards will show a drop in their rates, but it may take a few months to show up. Don’t hesitate to call your card company and ask them to speed things up on the lower rate.
  • Car loans: Some buyers with good credit will see some trickle down effects of lower rates.

To read more about the interest rate drops, click here.

LINKS:
Cash in on Lower Interest Rates


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Last Edited: 16th November 2023 The content of biblemoneymatters.com is for general information purposes only and does not constitute professional advice. Visitors to biblemoneymatters.com should not act upon the content or information without first seeking appropriate professional advice. In accordance with the latest FTC guidelines, we declare that we have a financial relationship with every company mentioned on this site.

About Peter Anderson

Peter Anderson is a Christian, husband to his beautiful wife Maria, and father to his 2 children. He loves reading and writing about personal finance, and also enjoys a good board game every now and again. You can find out more about him on the about page. Don't forget to say hi on Pinterest, Twitter or Facebook!

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