Dr. Jeff on Nostr: Prime rate is derived from the federal funds rate, which was lowered today from ...
Prime rate is derived from the federal funds rate, which was lowered today from 5.25-5.5% to 4.75-5.0%.
HELOCs and other short term lending rates are based, in part, off of the prime rate.
Hopefully, many Americans who are getting beaten down by such high interest rates will feel some relief in the coming months... in the form of lower interest rate payments.
Published at
2024-09-18 18:13:28Event JSON
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"content": "Prime rate is derived from the federal funds rate, which was lowered today from 5.25-5.5% to 4.75-5.0%.\n\nHELOCs and other short term lending rates are based, in part, off of the prime rate.\n\nHopefully, many Americans who are getting beaten down by such high interest rates will feel some relief in the coming months... in the form of lower interest rate payments.",
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