Your Home Equity Loan just got Cheaper!

The Feds just announced they cut the Federal Funds rate by .75%.  Even though the market was expecting a full 1%, this is still good news for those who have a home equity loan that is tied to the Prime rate.  Prime will now drop to 5.25%. 

If you are lucky and have this type of loan at a credit union, the current interest rate will drop to 4.75%! 

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