Money Matters
in Schaumburg, IL

30-Year Fixed MortgageThe average rate on a 30-year home loan. The rate never changes, so the payment stays level — smaller each month, but more interest in total.15-Year Fixed MortgageThe same kind of loan, paid off in half the time. A lower rate and far less interest overall, but a bigger monthly payment.Bank Prime RateWhat banks charge their most reliable business customers. Credit cards, home equity lines and small business loans are priced from it.10-Year Treasury YieldWhat the U.S. government pays to borrow for ten years. Mortgage rates tend to follow it, so it is the early warning.Federal Funds RateThe overnight rate set by the Federal Reserve. It moves savings accounts and short-term borrowing first, and mortgages only indirectly.Reading the arrowsA green down arrow means borrowing got slightly cheaper since the last reading. A red up arrow means slightly more expensive.