Earlier today the positive economic surprise that Bharathi wrote about was the drop in the unemployment rate and the minuscule amount of jobs lost last month. Since the news from the labor market hasn’t been positive in quite some time today’s news is most definitely welcome and very important to the economy and the market.

As only the stock market can do it instantly turned from a positive reaction to the jobs number to slightly negative on the day due to worries about the Federal Reserve possibly moving to raise interest rates sooner rather than later because of this positive announcement on the economy. I think this is definitely the wrong reaction to news of this sort. First of all, please remember that the jobs market still lost 11,000 jobs last month, which is much better than it has been, but we still have a long ways to go. In addition Ben Bernanke has been adamant that the FOMC will keep rates at historical lows as long as is necessary to stimulate the economy and pull out of the downturn. When the economy is still in clear danger and jobs haven’t even been created it is a little strange to be terribly worried about inflation or the need to raise interest rates in the near term.

Sure interest rates will eventually go higher in the long run. They can’t go any lower! The truth is though, worrying about a small uptick in interest rates that may come in the distant future shouldn’t be on the minds of investors or consumers right now. Right now any kind of good news in the labor markets that might signal more people will get a chance to go back to work is extremely good news, no matter what some market analysts may tell you! Interest rate worries are far overblown right now, and the continuing goal should be to move the economy forward!

The question has been asked now for months and months, is now a good time to look for a loan? In the past few months interest rates have become more attractive and thus the cost of obtaining a loan has gone down drastically. Does this mean you should be looking to buy something and getting a loan while you can?

First of all it is important to note that now is most certainly a terrific time to do things such as refinance your mortgage if you can save some money by doing so. Now is also a good time to look for a loan to make a major purchase if you are financially able to make the payments necessary. With interest rates hovering new the lowest levels in 50 years or so, it definitely wouldn’t be wise to sit around waiting to get a better rate on loans. Now may well be the best rate you will see in quite some time.

On the other hand if you aren’t in a financially secure position you should not feel as if you need to find a reason to go searching for a loan to make a major purchase. Major purchases should be made either by necessity or because you are taking a chance on something like a small business and you have the ability to take a loss on the money you are investing.

Now is a great time to look for things like the best mortgage rates, best car loan rates, and the best student loan rates; but only if you or your family has a secure financial position. The worst mistake you can make is hastily purchasing something only to drive yourself into debt and need debt consolidation services. The bottom line is, now is certainly a good time to search for a loan or a great interest rate, but make sure you aren’t over extending your finances to do so!