Quote:
Originally posted by BRISK
Tomorrow, the Fed's Open Market Committee is expected to boost its federal funds rate to 2 percent, the fourth consecutive rate hike since June. Already this year, consumer rates have followed the Fed's lead. The national average $30,000 home equity line of credit rate has increased from 2.5 percent in June to 3.74 percent as of yesterday. Similarly, the average credit card rate has risen from 13.5 percent to 14.1 percent. "That trend will continue"
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Interest rates might hit anywhere from 8-12% by 2008
