Prospect KY Real Estate

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Fed Cuts Interest Rates a Half Point

Wednesday, August 31st, 2011 at 10:42pm. 1094 Views, 0 Comments.

real estate louisville kyThe Federal Reserve cut interest rates much more sharply than expected. Most analysts believed 1/4 point was the most likely avenue for them to move – but in a stunning shocker, they cut it a full 1/2 point. The benchmark interest rate plunged from 5.25 to 4.75 percent.

The move was made to help buoy up the lagging housing market in many parts of the country as a result of over valuation and the subprime lending market that has been taking a beating, and to help stimulate the economy. The stock market moved up 335 points as a result of the news.

So, what does that mean to persons interested in Louisville KY Real Estate? Remember, Alan Greenspan just announecd his prediction that in a few short years, that interest rates will have reached double…

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