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 May 11, 2007

Federal Reserve Board Leaves Interest Rate Unchanged
The Federal Reserve Board May 9 left the key interest rate at 5.25% This rate has been at this level since June of 2006.
This decision means that home equity lines of credit, credit cards and other loans will remain at 8.25%, and 30 year mortgages on homes are likely to stay where they are now; which is hovering around 6.25%

Many economists believe that the Federal Reserve will keep these rates the same for the remainder of the year, even though there are investors that continue to crave an interest rate cut.

The Fed says that any rate change depends simply on growth and inflation.

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