Did you hear? The Fed cut a key interest rate today to 1%. This is the second time in 3 weeks that the feds have done this. So how is it going to affect the average consumer? The immediate answer is there is not going to be an immediate affect on consumers. However, there is some potential to see this benefit you in some way (maybe indirectly or down the road).
The problem is not necessarily that the rates are too high, however a lot of the issue is consumers who just don’t know if they can pay back the loan. This is a concern of the consumer and also for the lenders. At some point or another money has to start flowing through to consumers for loans and lenders have to lend it. Where does the waterfall effect begin so the economy can start heading in the right direction? I am not sure anyone knows the answer, but in the meantime Leadpile Lead Exchange will generate those leads of people looking for various financial assistance.