Parsing the Fed (April 30, 2008 Edition)

The Federal Open Market Committee cut the Fed Funds Rate by 0.250 percent today. The Fed Funds Rate is now 2.000% after the FOMC's seventh cut in eight months. Normally, a cut in the Fed Funds Rate pushes mortgage rates higher. So far, though, mortgage rates appear to be improving. This is because...

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[Source: The Mortgage Reports Blog]