Refinance, something to read about
5 percent to 1 percent inspired hopes that the economy of the United States would greatly benefit from the resulting increase in consumer spending, as well as the general confidence in the economy that was likely to follow. The Fed has stated that along with other measures, this lowering of interest rates will help improve the current credit climate in the country and spur on a new period of economic growth. This lowering of interest rates was actually long anticipated by many financial analysts, although most of them were unsure how low the interest rates would go. The federal funds rate was already lowered several times over the past year, with a half point decrease implemented only a few weeks ago. This decrease currently places the interest rate at the same levels as it was in the latter part of 2003 and the beginning of 2004.