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Jonathan Dalton
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Prime Rate Falls to 7.75%

Prime Rate Falls to 7.75%

Jonathan Dalton, Phoenix Real Estate AgentWestern National Bank reported this morning that its prime rate has dropped 50 basis points to 7.75% in lockstep with Tuesday’s Federal Reserve decision to lower the fed funds rate a half-percent.

Bank of America made a similar announcement yesterday.

What does this mean to you? Check out Dan Green’s take on The Mortgage Reports blog.

[tags]Prime rate, real estate financing[/tags]

No Comments

  • renato says:

    First of all great blog Jonathan – lot’s of great information here and finally rates to fall. Don’t we all need that these days ?
    Thanks for this info.

  • Rates falling will help. Also, I’ve heard some rumblings from loan officers that it’s easier to get a file through underwriting than it has been over the past few months – exactly the opposite of what you might expect.

    Thanks for stopping in from the People’s Republic of Chandler. 🙂

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