By lowering the entire yield curve, the policy action affects a wider range of borrowers, boosting demand in the economy and leading to higher output and inflation. (bankofcanada.ca)
As with forward guidance, this can enhance the impact of lower policy rates by spreading the effect to a wider range of borrowers, thereby boosting economic growth. (bankofcanada.ca)
While loan programs exist that help a wider range of borrowers, such as the FHA loan program, having a credit score of 700 or higher ensures you get the best mortgage interest rates and loan terms. (pennymacusa.com)