Mortgage may drop after fed lowers rates, here is why:

The Federal Reserve provided an emergency reduction in the federal discount rate in an effort to increase liquidity into the financial marketplace. This move was made as a result of the credit crunch that has affeceted major lenders and banks and has had a dramatic impact on mortgage programs. Working to create some certainty in the secondary marketplace will benefit all borrowers who may not qualify for an government backed agency loan.©LowRateMortgage.com 8-23-07

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