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Many Borrowers Won't Benefit from Fed Moves
Low interest rates remain out of reach for many borrowers
Sept. 17, 2012
By ALEJANDRO LAZOLos Angeles Times - McClatchy-Tribune Information Services
The Federal Reserve announced big new steps last week to further push down mortgage interest rates and spur housing. But the vast majority of Americans with mortgages have rates higher than those rock-bottom ones already being offered by the big lenders, indicating that many people are unable to take advantage of the historic drops in loan costs when it could be helping them the most.
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