It has been recently reported that The Federal Reserve may hold interest rates steady for a full year before making changes. Many economists are analyzing recent statements released by the Fed. The language used suggests that changes are not going to be made any time soon. With federal funds rates unchanged, the local banks' prime lending rate will also remain unchanged. This 8.25 percent rate is the benchmark for millions of consumer and business loans.
For local information regarding loan rates, visit our website and click on Local Mortgage Rates.
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