3 Smart Moves to Make While Financial Rates Are Low

With the Federal Reserve keeping interest rates low until 2013 in the hope that borrowing might kick start the economy again. While nothing has happened so far, experts agree that this might be the best time for those with good credit to make the most of it, as interest rates won’t get any lower in the future.

So, here are three smart moves that you can make while the financial rates are at their lowest:

#1: Buy a home or rental property

Considering the prices of home hitting rock bottom along with interest rates, it’s a good idea at this time to purchase a home if you’ve been putting it off for a while. Alternatively, a passive income can also be generated by purchasing a second home for the purpose of rentals considering the number of foreclosures in the market.

#2: Buy or refinance a car

Experts also suggest that trading in your old car for a new one is a good idea as manufacturers are offering several incentives to encourage customers. What you can also do refinance your vehicle for a lower mortgage rate.

#3: Lower your student loans rates

While federal student loans are usually low, at this time, these types of loans have also taken a dip as well. In the situation where you have more than one student loan outstanding, you can check in with your federal student loan provider as to what you can do in order to continue paying your loan off with a lower interest rate.