Interest Rates up a 1/4 point....

iVillage Member
Registered: 12-05-2004
Interest Rates up a 1/4 point....
Tue, 01-31-2006 - 4:01pm

I just got a Bankrate alert in my email that the Fed raised the rates again. The Prime rate is now going to be 7.5%. I really wish they'd stop doing this. I know they feel they have their reasons, but in the last four days, I've heard five of my son's friends' parents' tell me how hard they've got it and how they're just scraping by, if that, most months. Adding another 1/4 point to the already increasing credit card minimums is just mean.

I plan to file my taxes next week and put a good chunk of my refund towards my credit card so I won't have to panic so much when these rate increases keep coming.

Pat