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Just passing this along in case it is of interest to the ADM community...The National Bureau of Economic Research (NBER) released a report showing consumers whose interest rate fell were more likely to buy new cars. This conclusion may sound like it came from Captain Obvious to the ADM community, but this research report quantifies the results.
The NBER states, "Consumers who experienced reductions in their debt service costs due to rate declines reduced their credit card debt, were more likely to purchase new automobiles." The report tracked new auto sales after a drop in mortgage rates, by geographic area, for 2007-2010.
The report is "dry" to read (written by economists and professors) but the summary is here if you want to learn more.
Hedges & Company