INTEREST RATES ARE NEAR HISTORIC LOWS due to the


pandemic’s impact on the economy. As a result of the pandemic and concerns about economic stability, most financial institutions have made a few adjustments to their traditional credit evaluation and policies. However, based on the relatively low interest rates, now may be a good time for community associations to obtain a loan or refinance an existing loan. The primary benefit of low rates is its stimulative effect on economic movement.


36 | COMMON INTEREST®


• Summer 2022 • A Publication of CAI-Illinois Chapter


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