My blogging on refinance home loan
Cutting the federal funds rate was the most recent of several steps the Fed and the Treasury have taken to restore the economy to moderate growth and alleviate the credit crunch. The rate cut followed on the heels of a surprise half point cut that took place only three weeks prior, and was preceded by several other rate cuts that lowered the federal funds rate from its late 2006 and early 2007 high of 5. 25 percent. The latest rate cut was not a surprise to financial analysts, but they were not certain how much farther the Fed would be willing to go in trimming interest rates that were already close to the bottom. The rate cut should be a great benefit for borrowers.