Interest Rates

Gary North

Interest rates fluctuate considerably these days. For example, last January, the national rate for a 30-year, fixed-rate mortgage was under 5.3%. By the end of February, it was 6.1% Since then, it has fallen back to 5.6%

There is a handy graphing service that lets you survey recent rates of all sorts of loans and accounts. It's here:

http://www.bankrate.com/brm/graphs/graph_trend.asp

It also lets you search regionally.

Rates vary widely in a local market. I found out this week that bank money market rates in my area vary from 0.5% to 2.3%.

Before you decide whether to move ahead on a bank transaction, check what's available.

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