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Fed rate cut won’t help subprime borrowers

September 25, 2007
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So, the fed cut the rate on short term money by .5% to help out the “little guy”.  Does it really help?  No, not really.  Most subprime loans are based on the LIBOR (London Interbank Offered Rate), not the fed rate. 

The cut in the fed rate WILL help people with floating rate mortgages that are tied to that rate, such as home equity loans.

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William Bronchick, ESQ.

Nationally-Known Attorney, Author, and Speaker

Attorney William ("Bill") Bronchick, the host of Legalwiz.com, has authored six best-selling books and is sought nationwide for his 30+ years of real estate and legal knowledge. He has been interviewed by numerous media outlets, such as CNBC, TIME Magazine, USA Today, Investor Business Daily, Forbes, and the LA Times, to name a few. William Bronchick is the co-founder and past President of the Colorado Association of Real Estate Investors and the President of the Colorado Landlords Association. Click on the "About" link above for more information on William Bronchick.

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