Interest rates on 30 year mortgages this past week dipped to just below 6% for the first time in three months. Citing a 'soft patch' in the economy in June, Federal Reserve Chairman Alan Greenspan predicted that growth will soon rebound and the Fed would proceed with their gradual plan to raise interest rates to curb inflation.
If you've been thinking about buying, now might be the time to lock in a great rate!
To keep an eye on the latest Federal Reserve news, check out FED Blog.
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