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January 22, 2008

Federal Reserve Slashes Rate to 3.5%

Amidst concerns about a recession and a global plunge in stock markets, the Federal Reserve made a drastic reduction in the federal funds rate of .75 of a point, from 4.25% down to 3.5%. It marks the single largest reduction in about 20 years and the fourth consecutive reduction of the federal funds rate dating from September 18th of last year.

Take advantage of lowered interest rates.
Act now and find new, low mortgage rates today.

So as a potential borrower, what does the Fed's rate cut mean for you? Read more from our article, Understanding the September 2007 Federal Rate Cut.

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