Low borrowing rates put more money in consumers' pockets for spending. They might also be more ready to borrow money and make larger purchases as a result, which increases demand for household products. Banks are now able to lend more, which is a bonus for financial organizations.
Is buying when interest rates are high or low better?
Purchase ideally when mortgage rates and home prices are both cheap. Calculate the short- and long-term costs of a lower loan rate vs a reduced purchase price if that is not an option. Make your move when the math makes the most sense.
What occurs when interest rates are low?
Borrowing becomes more affordable at lower interest rates. This generally encourages investment and spending.
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