Prime Rate increases to 6.5%
Wednesday, August 10th, 2005 at
8:35 am
Chairman Alan Greenspan of the Federal Reserve raised the federal funds rate by .25% to 3.5% yesterday. As a direct effect, commercial banks boosted their PRIME RATES (used for Home Equity Lines of Credit) by a .25% to 6.50%.
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Tagged with: commercial • home equity • prime • rate • rate increase
Filed under: mortgage
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