farrell080308
On the homepage
Hunger
Out There
Greenfield
H1N1 flu
How to keep track of prime rate? Check the paper
You can find it in the business section of the Star Tribune, or at www.bankrate.com.
Print this story
E-mail this story
Save to del.icio.us
Share on Facebook
Share on Digg
Minnesota business by the numbers
See Minnesota's top earning companies, CEOs and non-profits
More from Chris Farrell
Q How do I keep track of the prime rate? I took out an equity line at the low rates and I can lock in at anytime, but I need to monitor the prime rate. Please advise.
A You can find it in the Business section of the Star Tribune, at the bottom of the section's cover Tuesday through Saturday, and in the Monday Business Insider section's Databank page.
USA Today also publishes the prime rate, under "key rates."
As for the Internet, I like www.bankrate.com for its consumer lending information. You can follow the prime rate at: www.bankrate.com/brm/ratewatch/leading-rates.asp.
As long as we're on the topic of interest rates and home equity loans, another benchmark interest rate you can find at any of the resources I've mentioned is Libor. It stands for London Interbank Offered Rate; many types of consumer loans are tied to Libor.
There have been some well-reported problems about Libor during the global credit crunch. It appears that some of the 16 reporting banks were low-balling their borrowing rates, and confidence in the global benchmark deteriorated. Of course, if you're a borrower, that's a dodge in your favor. The British Bankers Association is taking steps to shore up the measure.
Chris Farrell is economics editor for American Public Media's "Marketplace Money." Send questions to cfarrell@mpr.org, or to kaching@startribune.com. Put "Your Money" in the subject line.
Recent Business stories
A look at economic developments and activity in major stock markets around the world - August 2, 2008
A look at economic developments and activity in major stock markets around the world - A look at economic developments and activity in major stock markets around the world Wednesday: More
- Hecker demands that documents be returned
- A Minnesota start-up with bark in its bite
- Accountant: Petters execs misused investor cash
- Plymouth company plowing to profit
- Gold frenzy won't stop: $1,120 an ounce
- Caribou Coffee: Sweeter bottom line with high-end chocolate?
- U panel proposes conflict-of-interest policy
Blog: Patent Pending
Meanwhile, in Wisconsin....
As you read this blog entry, angel investors and start-ups are flocking to Madison, Wisconsin for the annual Wisconsin Early Stage Symposium and the Mid West Health Care Venture forum.
Comment on this story | Be the first to comment | Hide reader comments