SOURCE: Informa Research Services, Inc.

Informa Research Services, Inc.

June 24, 2009 18:59 ET

Fed Holds Key Rate Steady: How Consumers Can Benefit, According to Informa Research Services

CALABASAS, CA--(Marketwire - June 24, 2009) - As many speculated, the Fed announced that it would keep the Fed Funds Rate steady at the historically low 0.00-0.25% range. However, the central bank claimed that recession worries were easing and decreasing prices were slowing. Informa Research Services advises consumers on how to make the most out of the recent Fed decision (http://www.bankingmyway.com/ratesearch/mortgages).

This decision doesn't directly affect mortgage rates, but consumers should know there are still ways they can make the best of the current economy. According to the National Association of Realtors®, the national median existing single-family home price was down 13.8% from May 2008. Combined with the low mortgage rates that are available, this may be a good time to purchase a home.

Furthermore, national averages are still down 84 basis points from a year ago, which means that refinancing a current loan can save consumers thousands of dollars (Source: Informa Research Services' Interest Rate Review). Informa Research suggests consumers use the Internet to find the best rates in their area. Consumers should also monitor national averages regularly to help them learn to better gauge current rate trends.

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About Informa Research Services, Inc. (www.informars.com)

Since 1983, Informa Research Services, Inc., has provided the financial industry's most extensive array of market research and decision-support information.

Contact Information

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