Fed leaves interest rates unchanged - what does that mean for mortgage rates? - 11/04/09 07:40 PM
Today the Federal Reserve closed out a two-day meeting with a unanimous vote to keep benchmark overnight interest rates unchanged in a range of zero to 0.25 percent. 
(It is important to note this is not the mortgage loan rate - it is the overnight rate depository institutions charge to other depository institutions.  So basically, it is what banks charge each other, not what banks charge borrowers.  It directly affects the Prime Lending rate offered by banks on home equity loans, and you can usually add 3.00% to the Fed Funds rate to discover the Prime Lending rate, currently at 3.25%.)
The Fed's statement said the … (3 comments)

 
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Doug Walker

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