Amid all the economic turmoil, there was good news on Tuesday, Dec. 16. The Federal Reserve reduced its top interest to near zero, or .25 percent, for its biggest customers. That news boosted the stock market by 360 points to 8924.

Will that good news translate into good news for consumers? Only time will tell. If you are looking to refinance your mortgage, this might be a good time to do that. Financial planners have said that interest rates on annuities are going to be reduced in mid-January, so now might be the time to lock in some of those higher rates if you have some maneuverability in your investment portfolio. Read the rest of this entry »