Written by Dick Lepre
Financial decisions can be daunting, especially when planning for a large purchase or investment where interest rates influence the cost of borrowing money. While there is no crystal ball to provide completely accurate predictions about rates, understanding the basics of economic news can help facilitate more informed decisions. Is it the right time to invest in a new home or refinance an existing one? Is a fixed rate mortgage the way to go or is there a chance rates might go lower? The U.S. Federal Reserve monitors various indicators to help guide economic policy. The media follows closely, reporting on inflation, the job market, foreign affairs, and more. So, what does it all really mean to the average consumer preparing for a big financial decision?