Monday, August 4, 2008

Federal Reserve To Meet

The Federal Reserve meets Tuesday and analysts believe rates will remain the same. Currently the prime rate is 5%. This is the rate banks use for certain consumer loans and home equity lines of credit. 30 year mortgage rates are not tied directly to the Fed however the Fed does play a huge roll in credit availability.

The current 30 year fixed mortgage rates in Wisconsin are 6.25% with 1 point or 6.5% with no points.

APRs 6.31/ 6.62

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