Mortgage refinancing A review of the basics
When the Federal Reserve recently announced its intention to lower interest rates from 1. 5 percent to an unprecedented low of 1 percent the hope was that the U. S. economy would receive a much needed boost in the form of increased consumer spending and a corresponding confidence in the economy following suit. According to the Fed, this and other measures currently being implemented would result in a greatly improved economic climate that will in turn usher in a period of economic advancement.