Will interest rate cut lower Mortgage Rates? (HomesPlus)

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Will interest rate cut lower Mortgage Rates?

The Federal Reserve today slashed a key interest rate by three-quarters of a percentage point. The federal funds rate - the interest banks charge one another for overnight loans -- now stands at 3.5%. You can read more about the Fed decision at the Chicago Tribune website.

As for what this might mean for mortgage rates, click here for more analysis from Bankrate.com.

Posted by HomesPlus on January 22, 2008 3:12 PM | Permalink

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