In an effort to stimulate economic recovery from the coronavirus, Buffet believes the Fed Reserve “did the right thing” by cutting interest rates to almost zero. As a result, other rates have fallen respectively meaning borrowers are g
“This is a very good time to borrow money, which means it may not be such a great time to lend money, but it’s good for the country that it’s a good time to borrow money,” said Buffett during Berkshire Hathaway’s online shareholders’ meeting earlier in the year.
How can you put this advice to good use? If you’re a home buyer or homeowner and have a solid credit score, you should be looking to take advantage of today’s all-time-low mortgage rates or refinancing your current mortgage before they rise again.
Prepare for the worst
There’s a reason people call Buffett the “Oracle of Omaha”. The investing legend said during a March interview that he, “Always felt a pandemic would happen sometime.”
In 2019, he cautioned investors to prepare for a “mega catastrophe,” since we had not seen one in some time and that the odds pointed towards us is due for one. He said it would be a “total surprise”, one that would dwarf events like the hurricanes Katrina and Michael, which we all know were as devastating as it gets (or so we thought).
