Prime Rate Credit

For one piece of good news in what seems like a constant stream of either bad or so so news for our economony and for our personal financial situations, the “Fed” as they’re affectinoately called, has decided to keep interest rates at an even keel for just under a year now, deciding to keep consumers happy and maybe our economy a little less gun shy.

Well, OK, I’ll admit I dont’ know the reason WHY the fed decided to keep it the same. It’s probably all some statistical and math jargon that none of us regular people can understand, but I’m sure at the heart of it all lies what’s best for the economy, right?

What does this mean for us? Well, it means that as borrowers, we can rest assured the rates (for now) aren’t budging for the worse, and as savers, we can rest assured that our savings accounts will be giving a more steady than usual interest rate yield since the rates are leveling off.

While you may not think it affects you, in fact it does in small ways, all our finances are connected in one way or another, and as the economy steadies, so does our job market, and consumers become more “confident” and start buying stuff again.

So that means, small business owners, people will start buying more things and make your business prosper, and those of you that want job security, this can also be a boon for job security and also the new job market if you happen to be in the market for a new job.