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What is the prime rate? by Daniel Xiao Wang At one time the prime rate was the rate that lenders charged their most credit worthy borrowers. This is no longer strictly the case in the American banking system. Now banks use the prime rate as a marker, a standard by which to adjust and determin... More> The Federal Reserve: The danger of quickly declining interest rates by Daniel Xiao Wang Once again the Federal Reserve (the Fed) is talking about lowering the Federal Funds Rate. This will also lower the prime interest rates. The goal is to place more money into the economy by encouraging lending and discouraging saving. The Fed wants ... More>
	Emergency rate cuts: What the fed is trying to accomplish and what it means to you by Daniel Xiao Wang Just over a week before the planned Federal Reserve Board Meeting, the Fed met for an emergency session and cut rates 75 basis points the largest rate cut since 1984. This brings the Federal Funds Rate to 3.5%, meaning a decrease in prime to 6.5% No... More> What you should know about interest rates by Barry Marcus Interest is a fee charged for the use of funds. It is the "rent" charged for the use of money. Interest is the mechanism that makes the lending and borrowing of money between two parties possible. Without interest, there would be little incentive fo... More>
Interest rates: How do Federal Reserve interest rate cuts affect you and your money? by Daniel Xiao Wang The Federal Reserve met on Dec 11th, 2007 and cut key interest rates again, the third time in three months representing a cut of a full point. The impacts that you are likely to feel from this recent decision by the Fed depend a great deal upon your... More> What you should know about personal home mortgages by Michael D Cook Sr Have you heard that the current mortgage crisis could affect you? What can you expect if you happen to have an "adjustable rate" mortgage or a subprime loan? What does the term "credit crunch" mean? These and many other questions are the topic of co... More>
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