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Refinancing A Silver Lining For Some

Posted 2008-12-15

Mortgage Rates Have Plummeted

By Kate Prahlad

HARRISONBURG - Chris Grefe is getting a piece of the government bailout. Well, not really, but he is benefiting from the billions of dollars the Federal Reserve plans to pour into the struggling mortgage giants Fannie Mae and Freddie Mac. The announcement two weeks ago that the Fed planned to spend up to $600 billion to buy debt issued or backed by the mortgage institutions and the Federal Home Loan Banks caused mortgage rates to plummet to their lowest since ...

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