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The Federal Reserve and how the cut affects condos
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The Fed dropping rate has a direct effect on people that have home equity lines of credit, including myself. These loans are generally ties to the prime rate which falls when the
Fed Fund
s rate falls. For someone with a $100000 HELOC, ... |
Source Blog Post
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The rate cut was the second in eight days. Since September 2007, the Fed has reduced the rate 2.25 points, from a previous rate of 5.25 percent. The Fed stressed the banking mortgage crisis in its statement Wednesday, but also mentioned ... |
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Dear Dr. Don, I live in western New York and have a variable-rate home equity line of credit. The index rate is the prime rate as published in the Wall Street Journal on the first day of publication after the 10th of each month. |
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Over the last month you have seen the news about the Federal reserve cutting the interest rates. Every time this happens I get hundreds of calls, from old clients of mine, wondering what the rates are at? What they don't understand is ... |
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Find the Best Home Equity Loan Rates in minutes. We help consumers get the best loans.Compare rates on second mortgages and line of credit rates. |
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HELOCs (Home Equity Lines Of Credit) have the disadvantage that they are month to month variable, based upon a rate that is controlled by the bank. On the downside, you're somewhat at their mercy. On the upside, the rate is based upon ... |
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Compare rates on second mortgages, home equity loans, and line of credit rates with Bankrate's free rate listings. |
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