There actually was a time when people incinerated their cash. Some even used it as wallpaper because the money was worthless. It was in the Weimar Republic in Germany during the 1920s, when hyperinflation plagued the country.
Hyperinflation is when the prices of most goods and services shoot up while the Federal government prints and prints and prints money to pay for its spending. The result leaves the currency a fraction of what it used to be worth.How does all of this impact you?
Lower rates mean lower monthly payments for homeowners with mortgages. If inflation became a problem, mortgage rates most likely would rise. Typically, as inflation goes up, mortgage rates follow.
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