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interest rate News

interest rate News From AOL News

Mortgage Rates Sink to Lowest Level on Record

Jun 24th 2010 – 7:52PM
Paul Sakuma, AP

Paul Sakuma, AP

WASHINGTON (June 24) - Mortgages are cheaper today than they've been in a half-century. If only most people had the job security, the credit score and the cash to qualify. The average rate for a 30-year fixed loan sank to 4.69 percent this week, beating the low set in December and down from 4.75 percent last week, Freddie...

Get Ready for Round 3 of Credit Card Reform

By Broderick PerkinsMar 19th 2010 – 2:35PM

(March 19) -- Don't take the shears to your credit card just yet. While credit card issuers may have managed to stay one step ahead of consumer-protection regulations, the next round of Credit CARD Act provisions will force them to roll back some of their charges. "This proposal addresses two key costs of using a...

Background on interest rate

An interest rate is the rate at which interest is paid by a borrower for the use of money that they borrow from a lender.

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