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Monthly financial news from USAIB
U.S. Fed drops rates to zero to 0.25 percent
Tuesday, December 16, 2008 23:11 Local Time GMT
The U.S. Federal Reserve on Tuesday cut its target for overnight interest rates to zero to 0.25 percent, bringing it closer to unconventional action to lift the economy out of a year-long recession
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US mortgage rates drop to lowest in 37 years
Wednesday, December 24, 2008 20:09 Local Time GMT
Interest rates on U.S. 30-year fixed-rate mortgages dropped to their lowest level in 37 years this week, largely due to an unprecedented intervention by the Federal Reserve, according to a survey released on Wednesday by home funding company Freddie Mac.
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