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Greenville SC Mortgage Information

Mortgage Information For Greenville SC Area home buyers.

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I would like to welcome today's guest columnist, Bert Karrer with Countrywide Home Loans. Bert has worked with many of my clients and would welcome the opportunity to speak with you about your mortgage needs.                             How does the lowering of Prime Rate affect you and your Mortgage?   In order to answer this question, it is helpful to understand two major interest rates that are affected by the Fed: Fed Funds Rate (currently 4.5%) - the interest rate that banks pay when they borrow money from each other here in the US. This rate is also determined by the Fed because banks in the US are part of the Federal Reserve System. You see, the Fed’s main role is to maintain “monetary stability” by keeping a close eye on the…
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