Archive for the ‘Rate Cuts’ Category

Feds Cut Rates…Again

The feds have cut rates, now below 1%. That’s great news for mortgage lendees and people with home equity loans, but if you’re expecting credit card rates to go down. forget it. This rate cut is supposed to instill confidence in consumers. However mortgage rates have remained high. The average mortgage rate last week was at 6.3 percent, according to Bankrate.com, above the rate earlier in the year.