New York, NY (PRWEB) March 10, 2006
When asked why he started the Prime Rate website, founder Steve Brown replied, "Back in early 2004, I was finally able to purchase the car of my dreams because the U.S. Prime Rate was so low; I got an excellent car loan with a very low interest rate, and ,even though I didn't like the idea of going into debt, I still smile when I think about all the money I saved in interest charges by purchasing at just the right time.
"Getting a great rate on my car loan was no accident. I had been following the prime lending rate for years before I applied for a car loan, and because I exercised patience, kept up to speed with decision made by the Federal Open Market Committee (FOMC) and maintained a good credit history, I was rewarded."
Brown continues, "Before I bought my dream car, I did a lot of research into U.S. interest rates so that I could figure out the best time for me to make my purchase. I wasn't impressed with the prime rate related websites I found, so I decided to 'build a better mousetrap' so to speak, so that other money-conscious consumers could have a comprehensive and reliable resource for information about the Prime Rate. The result is the FedPrimeRate.com website."
The WSJPrimeRate.us website is very easy to navigate and is truly comprehensive. The site features the current Prime Rate, a complete Prime Rate history, a Prime Rate online poll and a Prime Rate rate chart. The site also has a Prime Rate blog that offers in-depth analysis of current and future interest rate trends; visitors will find the blog entries related to Prime Rate predictions very useful.
"I've been following the Prime Rate for almost 5 years now, so one could say that I've become something of an interest rate expert. Of course, I'm always willing to share what I know, so I will continue to respond to any and all comments and questions that are posted to the website's blog," Brown added.
The U.S. prime rate (also known as the published Wall Street Journal Prime Rate) is the base interest rate that banks and other lenders use as the foundation rate for many popular loan products, including credit cards, variable rate mortgages and car loans. Lenders add a margin to the Prime Rate, which is basically the lender's profit. The Prime Rate is also the interest rate at which banks will lend money to other banks, and to their most reliable, established and creditworthy business customers.
Mr. Brown invites anyone and everyone who is looking for a great website about the U.S. Prime Interest Rate to stop by the prime rate website at FedPrimeRate.com.
The website at FedPrimeRate.com is the Internet’s premier information space dedicated to interest rates and personal finance.