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Real Estate


Tom Kelly
Tom Kelly
The Real Estate Adviser
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January 4, 2001

Housing's light grows brighter

By TOM KELLY
The Real Estate Advisor

If you are looking for a leader, it's best to check recent track records especially when you are seeking stability and continuity. The housing market is the clear-cut candidate to direct the few bright lights of the present economy  -- and new developments will only help push it along.

This week, the Federal Reserve cut the federal discount rate and the federal funds rate for the first time in two years. While the news actually sent the cost of 30-year, fixed-rate mortgages a tad higher, the prevailing perception the past month that a cut was needed dropped home-loan rates to their lowest levels in 18 months. In addition, many analysts believe another Fed cut is just around the bend.


 
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