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Time to Refinance Mortgage Loans Inflationary pressures likely to lead to higher interest rates.
Recently the federal government passed new legislation with the hopes of stimulating the United States' economy. The nonpartisan Congressional Budget Office estimates that the related government spending of $787 billion resulting from the stimulus bill will create at least $1 trillion of deficits per year during the next decade.
Never before in American History has the money supply exploded as it has since Federal Reserve Chairman Ben Bernanke took over as the head of the Federal Reserve.History indicates that this level of expansion of government and the money supply will result in significant inflation.The primary tool the Federal Reserve has in its arsenal to control inflation is to respond with increasing interest rates to banks and consumers.
Our current advice for homeowners: refinance your mortgage loan to take advantage of favorable, long-term fixed-rate loans while it is still possible.
