Home mortgage, and more reading
The federal funds rate was already lowered several times over the past year, with a half point decrease implemented only a few weeks ago. This most recent lowering of the interest rate puts it at the same level as it was in late 2003 and early 2004. In contrast, the end of 2006 and the early part of 2007 saw interest rates soar as high as 5. 25 percent. Needless to say, borrowers throughout the United States have received news of the lowering of interest rates with much anticipation.