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6 things to know about the Fed rate cut

The Federal Reserve this week reduced the federal funds rate to a range of zero to 0.25 percent. The rate cut likely will not impact 30-year, fixed-rate mortgages. The real impact will be on consumer loans tied to the prime rate, such as home-equity lines of credit and credit cards with variable interest rates. Borrowers with loans tied to the prime rate may see an interest rate decrease. To read the full story, please click here:
http://www.usnews.com/blogs/the-home-front/2008/12/16/-6-things-to-know-about-the-fed-rate-cut.html
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