FED cuts rates .750% today | Prime rate now 5.250%
Fed funds rate cut by .750% today
The interest rates on home equity lines of credit went down drastically today. What effect this has on 30 year fixed interest rates today and in the immediate future remains to be seen.
Tags: federal reserve's interest rate cut today, heloc rates lowered by .750
March 19th, 2008 at 10:15 am
Fed cut discount .75 yesterday.
30 year fixed rates increased slightly so far with inflation helping to cancel out the cut.
BUT reserve requirements went from 30% to 20% for Fannie and Freddie which frees up trillions for home loans. Expect this to help push interest rates down.