Fed cuts short-term rate for 7th time - 05/06/08 02:39 PM
The Federal Reserve cut its target for the federal funds rate by a quarter-point, from 2.25 percent to 2 percent. The prime rate will fall by a quarter-point, from 5.25 percent to 5 percent. The move spells good news to people who borrow money on loans, such as home equity lines of credit, that are linked to the prime rate. It's not such good news for savers who want to put their money in short-term certificates of deposit.  Typically, rate cuts make inflation worse. That makes the case for holding short-term rates steady. But this isn't a typical situation. Prices aren't … (0 comments)

 
Ad_picture

Kevin Orf

North Branch, MN

More about me…

AmRes Mortgage

Address: 38625 14th Ave. Suite 300C, North Branch, MN, 55056

Office Phone: (651) 277-4392

Cell Phone: (651) 492-4392

Email Me



Links

Archives

RSS 2.0 Feed for this blog