U.S. Banks Lift Prime Rate to 6.5 percent

Published on:
12 September 2006 at 10:19 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00000895-us-banks-lift-prime-rate-to-65-percent/

In a move that will affect the finances of millions of U.S. borrowers, the country’s banks on Tuesday raised their prime lending rate to the highest level in four years.

The move, which was expected, came after the country’s central bank raised its key interest rate and warned that further increases might be coming.

Wells Fargo, KeyCorp and National City were the first big lenders to announce the increase, which raises the prime rate to 6.5 percent from 6.25 percent. They were quickly joined by many others.

For this complete story, please visit U.S. Banks Lift Prime Rate to 6.5 percent.

U.S. Banks Lift Prime Rate to 6.5 percent

Unknown Author

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