Tuesday, August 09, 2005

Fed Boosts Rates for 10th Time

Ruh roh. "In response, commercial banks began boosting their prime lending rates - used for many short-term consumer loans, including variable-rate credit cards and popular home equity lines of credit- by a corresponding amount to 6.50 percent." The Fed continued to forecast increases over the near- to mid-term, too. I sure am glad I went with that 30-Year fixed.

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