Quote:
Originally posted by Rick Lee
Lowering prime won't do much to help the housing slump, since mortgage interest rates have little to do with it. Bond yields are what drive most mortgage rates. Sure, they're all intertwined in some way, but most ARM's are tied to LIBOR or the 1 yr. Treasury. Prime affects HELOC's, credit card rates, car loans, etc.
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Yes, Prime rates also effect my commercial loans in a very big way.