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Business Credit Card Interest Rates Are Lowest

Posted by: RateAPY Bank Rates News
November 30th, 2009

Only six months ago, the average interest rate on a business credit card was the highest out of ten categories of credit card types, at 16.74%. Currently, the average APR on a business credit card is now the lowest of those same ten categories, ... Read more »

How Home Sales Could Mean Higher Rates On Certificates Of Deposit

Posted by: RateAPY Bank Rates News
November 16th, 2009

On Thursday, the Wall Street Journal reported Q3 home sales at an annual rate of 5.3 million units. That was an 11.4% gain over Q2’s 4.76 million units. Experts credit the rising sales to the tax credit of up to $8,000 for first-time home buyers. Last week, President Obama signed a bill extending that tax ... Read more »

How the Fed Affects Consumer Rates for Credit Cards, Mortgages, and Deposits

Posted by: RateAPY Bank Rates News
November 12th, 2009

The Federal Reserve sets monetary policy. One way the Fed does this is by raising or lowering the Fed Funds Rate–the interest rate at which banks lend to one another. As the Fed Funds Rate adjusts, so does the Prime Rate, which affects everyday life on main street: mortgage ... Read more »

Prime Rate Watchers Anticipate FOMC Decision Wednesday

Posted by: RateAPY Bank Rates News
November 3rd, 2009

Will Interest Rates Increase?
Today was the beginning of the two-day FOMC meeting to decide whether or not to change the Fed Funds Rate. Currently, that interest rate stands between zero and one-quarter of a percent and has for over a year. The FOMC has said many times that interest rates should remain low for a ... Read more »