2006-06-30 12:39:49 · 4 answers · asked by dewgongoo 2 in Business & Finance ➔ Personal Finance
You would be getting the current prime rate (which you can check at prime-rate.com) minus .25% of the rate. Keep in mind that the rate does change daily, so your rate would not be fixed.
2006-07-01 09:42:51 · answer #1 · answered by Hot Pants 5 · 1⤊ 0⤋
The Federal Reserve does not set the prime rate. Wall Street Journal defines the prime rate as "The base rate on corporate loans posted by at least 75% of the nation's 30 largest banks."
2006-06-30 12:59:01 · answer #2 · answered by Wilton P 5 · 0⤊ 0⤋
You get the current prime lending rate (the best rate as set by the federal reserve) less one quarter percent.
2006-06-30 12:42:34 · answer #3 · answered by Anonymous · 0⤊ 0⤋
That is too high i would do a little shopping around!
2006-06-30 12:52:58 · answer #4 · answered by It's me... 3 · 0⤊ 0⤋