What exactly does the Fed's recent rate cut tight?
"On Friday, the Fed's move to cut its discount rate by 50 font points to 5.75% be see as an attempt to sustain distressed bank borrow money"
I enjoy read so masses report articles in the order of bank getting lower rates (like over-night lend to other banks) but what types of loans do they effect?
1) Will ARM mortages adjust lower?
2) Will traditional 30-yr mortgages trickle? If so, to what APR?
3) Will my student loans convert?
4) Will credit card companies be giving better interest rates?
5) Will the interest rate on my online nest egg tale stir down?
Answers:
The answer to adjectives your question (1-5) are NO.
The discount rate effects extremely short-term loans by regular bank, and it does not effect any consumer or business loans or nest egg.
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I enjoy read so masses report articles in the order of bank getting lower rates (like over-night lend to other banks) but what types of loans do they effect?
1) Will ARM mortages adjust lower?
2) Will traditional 30-yr mortgages trickle? If so, to what APR?
3) Will my student loans convert?
4) Will credit card companies be giving better interest rates?
5) Will the interest rate on my online nest egg tale stir down?
Answers:
The answer to adjectives your question (1-5) are NO.
The discount rate effects extremely short-term loans by regular bank, and it does not effect any consumer or business loans or nest egg.