federal reserve

Timeline: The federal funds rate at work

 

1980 Federal Funds Rate 1980 Federal Funds Rate 1984 Federal Funds Rate 2003 Federal Funds Rate 2008 Federal Funds Rate 2012 Federal Funds Rate 2007 Federal Funds Rate 1993 Federal Funds Rate 1981 Federal Funds Rate 1974 Federal Funds Rate

Year: 2007

Rate: Decreases to 4.75 percent

The details: The housing market's troubles prove to be far worse than expected, as spending on housing projects for the year tumbles by the largest margin in 25 years. However, energy prices are high and the Fed has inflationary concerns. But, with the economy slowing, it begins to lower the federal funds rate to 4.75 percent and eventually to 4.25 percent.

 

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30 year fixed refi 4.05%  0.06 3.99%
15 year fixed refi 3.11%  0.01 3.10%
10 year fixed refi 3.17%  0.04 3.13%
 
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48 month used car loan 3.04% --0.00 3.04%
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1 Year CD 0.99%  0.01 0.98%
2 Year CD 1.19%  0.02 1.17%
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Balance Transfer Cards 15.73%  0.01 15.72%
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