New Home Loan Programs Should Be Available to All Vets

2020 has undoubtedly been a year of firsts. For the first time this century, a global pandemic has ground the economy to a halt. Families across Americans who felt secure six months ago now find themselves struggling to make ends meet, putting off major purchases, and uncertain about the future of their jobs and their communities. And nearly five million Americans are behind on their mortgage payments.

In an effort to help mitigate some of the economic fallout, the Federal Reserve lowered its target interest rate to 0.25 percent, down from 2.50 percent a year ago. This, in theory and practice, reduces interest on borrowed money across the board to consumers. In general, this makes more capital available for spending as "the price" of money is lowered. This can have an impact on credit cards, personal loans, and mortgages.