How the Recent Fed Rate Hike May Affect Your Loan Products
We’ve already seen the impact the recent rate hike to the federal funds target rates has had on Regulation D, but what does the rate hike mean to your loan rates? Most credit unions tie their loan rates, both variable and non-variable (to some extent) to the Wall Street Journal (WSJ) Prime Rate. Since 1994, the WSJ Prime Rate has been set at 3.0% above the federal funds rate. [12/23/15]