Federal Reserve Holds Key Rate Steady

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In the wake of economic crisis, the Federal Reserve voted yesterday to keep the federal funds target rate at 2 percent, where it has been since April. This rate influences mortgage rates, which have been sliding since the bailout of Fannie Mae and Freddie Mac.“Tight credit conditions, the ongoing housing contraction, and some slowing in export growth are likely to …

Autumn is a great time to buy

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This fall could be a particularly great time for first-time buyers or those who have been out of the market for at least three years to jump in. Here are the reasons why: • Property prices are probably as low as they are going to go as the market stabilizes, thanks to the government takeover of Freddie Mac and Fannie …