NAR: Home prices are firming

Real Estate News Blog Headline

New Fed efforts to jump start lending — Rates drop

On Tuesday, the Federal Reserve and Treasury Department committed up to $800 billion to unfreeze credit for homebuyers, consumers and small businesses. The newest programs are designed to jump start lending by the nation's banks and put money in the hands of consumers. Immediate results were seen, as rates on 30-year mortgages dropped a record 1-1/8 percentage points on Tuesday.

Posted: November 27, 2008

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