Interst Rate ?

[Tony P. IL.]

I'm in the process of a 100 point add-on at WLV. The interest rate will be 11.5 percent and that is the rate after the automatic debit from my checking account. My question is could this rate be right as of 12-6-01. Seems high to me and am looking for any info you may have. Thank You.

 

[KNWVIKING]

I know they just announced a rate drop,but don't recall from WHAt to WHERE. 11.5% is high though when you consider the prime is 2.0%

 

[* Potential DVC'er *]

This is a good question - I thought Disney was high at 10% - and what exactly is prime - I'm confused there (the bank offers a home equity loan with 4% for 3 months and then it goes to "prime" until it's paid off and you have a one time option to change it to a "term" loan and that's like 7% ) - the whole thing confuses me.

I'm still trying to convince my husband we should buy. It's a long uphill battle though....