This morning, the Federal Reserve cut the federal funds rate, the interest that banks charge each other on overnight loans, to 3.5 percent, down by three-fourths of a percentage point from 4.25 percent.
If you are in the process of financing your new smart purchase, this cut should result in lower auto loan rates.
NOTE: wrong! This rate only affects mortgages, etc. and will NOT reduce auto loan rates. Sorry for the bad info.
Last edited by jwight; 01-23-2008 at 07:10 AM.
Reason: corrected financial info
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