Wednesday, January 30, 2008

Feds cut rate again!

The Federal Open Market Committee acted again! It lowered the federal funds rate 50 basis points. It now stands at 3 percent.

To read the press release, go here: Federal Open Market Committee

A history of the Fed Funds rate is here: History of Federal Funds rate

To read more details on how this affects the consumer and mortgage rates: Bankrate.com

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