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No. This is a rate for banks only. You get the rate banks pass on to consumers, which is obviously higher, because they need to make money.
by onlyrealcuzzo 7y ago
No. This is a rate for banks only. You get the rate banks pass on to consumers, which is obviously higher, because they need to make money.
- WalterBright 7y agoMortgage interest rates are usually "prime + x". So the prime reducing will reduce "prime + x" by the same amount. For the same reason, I expect margin interest to drop by the same amount.