The Federal Reserve this week is expected to drop the rate at which banks loan money to each other below 1 percent. That means
interest rates on loans for just about everything, from cars to housing, eventually would fall further.
The interest youâ??d pay on a loan would be several percentage points higher than the so-called federal funds rate. But the
trend is down, and that means the getting may be as good as itâ??s been in a long time.
If youâ??ve been holding back on a purchase, how much further would rates need to drop before youâ??d pull the trigger? Or are
you so worried about the economy, your job or your business that even a â??freeâ?? loan wouldnâ??t draw you into the market?