Real estate blog entries tagged with adjustments by Rob Spinosa, Mortgage Loan Originator, Marin County (US Bank)

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adjustments: A Primer on Prime Rate - 08/28/17 08:22 PM

A Primer on Prime Rate

When we hear talk of the Federal Open Market Committee (FOMC) adjusting interest rates, there is one index in the mortgage environment that we know will be impacted, even when 30-year fixed rate loans may not see any change to their pricing. This rate is known as Prime Rate and it is the index that is used for most home equity lines of credit, or HELOCs.

If you have a HELOC on your property then it very likely will use Prime to set its base rate, with the addition or subtraction of a margin. Prime Rate itself currently … (1 comments)

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