Fed Lowers Rates…Yet Again By: Matthew Blevins, May 1st, 2008 The Federal Reserve again reduced interest rates recently, dropping the Federal Funds rate to 2% in an attempt to stimulate a slumping economy that is threatening recession. If you’re looking for a mortIn what *appears* to be the final in a long string of rate cuts, the Fed hopes to spur economic growth by flushing money into the residential mortgage and commercial lending arenas to spur growth in housing and business in general. Getting a refinance mortgage loan is a smart move for any homebuyer. This is especially true if the interest rates are low. In the world of finance, interest rates directly affect the way mortgage rates behave. So if the interest rates are low, then mortgage rates will also be low.
