The Federal Reserve did not change rates after they met on August 7. This is the 9th time in a row they have left them alone.
For you, this means your credit card interest rate and Equity Lines of Credit will stay the same as they are directly based on the Prime Rate.
In the statement the Federal Reserve brings up the credit conditions becoming tighter for many households but also that job growth is still positive.
The voting to keep rates the same was unianimous.
Kansas City Mortgage Group
www.kansascitymortgagegroup.com
Source
Parsing the Fed Statement
The Wall Street Journal OnlineAugust 7, 2007
http://online.wsj.com/mdc/public/page/2_3024-info_fedparse_shell.html
Thursday, August 9, 2007
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