Federal Reserve Meets Tuesday

In an attempt to ignite the economy but not kindle inflation the Federal Reserve will decide the direction of interest rates Tuesday Dec 11, 2007. Affected will be Home Equity Lines of Credit, Car loans, credit cards and other consumer and commercial loans. Mortgage rates creeped up late last week in advance of a Federal Reserve Rate cut. A cut may cause phones to ring for realtors and loan originators although it does not have a direct affect on mortgage rates. Mortgage rates still remain at historic rates and are available at or near 6% for credit worthy borrowers in Wisconsin with an APR of 6.139%.