Prime Rate increases to 6.5%

August 10, 2005

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%.

Is your rate too high? Get a rate quote on a Denver Mortgage Loan now!

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