The prime interest rate responds to changes in demand for loans and also the amount of money that is present in the entire banking system. Banks will adjust their rates for competitive reasons but primarily because the yare all subject to the same monetary decisions that affect every other bank in the US.
The prime interest rate is influenced by a variety of factors directly such as the discount rate and the federal funds rate and many indirect factors that influence these figures. The Federal Reserve does not directly set the prime rate.
The prime interest rate is a figure that represents the interest rate paid by the excellent credit borrowers (typically well to do businesses). The figure is typically pretty consistent across major banks and the rate is reported at the opening of every month.
The prime interest rate is not set by the federal reserve, but instead it is determined by banks based upon factors such as the discount rate and the federal funds rate. Banks typically adjust their rates in tandem to match market changes…
FHA is a great government program for insuring home loans for individuals with less than perfect credit or lown income. FHA loans are also valuable for the more well to do for the purchase of investment properties with little to no money down…
Home refinancing is an opportunity to save money you would other wise lose to banks in interest. It is also a chance to roll in higher interest debts you may have to save on them as well. Often times simplifying your monthly payments to one mortgage bill…
Applying online for refinancing your home is a simple process that gets you started in shopping for the best rate you can get. Different brokers have different relationships with lending institutions and you can usually do best checking a few sources first…
Small changes in mortgage rates can result in significant incentives for refinancing or using the equity in your home to take out a loan for home improvements or college expenses…
Today’s interest rates make it a great time to get a mortgage. If you already have your first home you should consider yet another mortgage for a second home that you can use as an investment property for rental or otherwise…
