Americans will enjoy very low cash and loans interest rates the rest of the year, economists say, because the Fed wants to do everything possible to help the fragile economy.

The Federal Reserve chairman Alan Greenspan and his colleagues in the Open Market Committee, decided to leave unchanged the federal funds rate at 1.25%, adding that the rates are sufficiently low to help bolster a weak economy .

Given that uncertainty, including a possible war in Iraq has done to consumers and businesses more cautious, the Fed probably will keep the interests of short-term at their current levels during the summer and possibly until the autumn, economists said. Read more »

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The current mortgage rate changes according to many factors in the economy, as well as conditions with the lender and the borrower. To find out the current mortgage rate for you, the best thing to do first is to get a credit report printout from each of the three major credit bureaus, and find out what your credit score is. Once you know your credit score you’ll have the answer to the first question you are likely to be asked by a mortgage broker or any other lender when checking on the current mortgage rate.

The next factor to take into consideration regarding the current mortgage rate is whether or not you have a down payment for the home you are considering buying. And if you do have a down payment Read more »

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