Friday, October 26, 2007

What The Federal Rate Cut Means

Ben Bernanke and the feds cut interest rates recently, so mortgage rates are dropping and home prices are decreasing. It's great for buyers... bad for sellers.

Home equity lines customers should be seeing savings on monthly bills.

If you're looking to borrow with a new fixed-rate home-equity loan, you'll find lower rates.

Bad news for those with savings accounts... you may be seeing lower payouts on money-market mutual funds, savings accounts and certificates of deposit.

Credit card customers should be seeing some relief if your account has a variable rate.

If you have a car loan, you won't see much of a change, because most are already offered at reduced rates due to dealer incentives.

Students with private, variable-rate loans with the prime rate may be seeing their rate adjust quickly.

Read more in "What the Federal Rate Cut Means for Homeowners" at


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