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Mortgage News for Tuesday - March 22, 2005

More Mortgage News
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• The 'housing bubble'
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• U.S. Economy not yet losing steam from fuel prices
• Rice Praises Growing Chinese Economy
• Fed Raises Interest Rate to 2.75 Percent
• Inexpensive real estate spurs growth along busy corridor
Mortgage News
Fed Raises Interest Rate to 2.75 Percent - 2005-03-22
The Federal Reserve raised a key U.S. interest rate a quarter percentage point to 2.75 percent on Tuesday, conceding inflation risks were growing but expressing confidence gradual rate rises can contain prices.

The central bank's policy-setting Federal Open Market Committee voted unanimously to boost the benchmark federal funds rate — which affects credit costs throughout the economy — for a seventh straight time since the current rate-rise campaign began last June.
Read the full story at ABC News
 
Inexpensive real estate spurs growth along busy corridor - 2005-03-22
Attracted to the northeast corner of the Bay Area by cheaper real estate in Vallejo, Fairfield, Antioch and beyond, commuters are increasingly willing to put up with longer commutes in order to own a home.

Some of the fastest growth in the Bay Area is happening in northern Contra Costa and Solano counties — the areas that divert traffic directly onto Interstate 80.
Read the full story at San Francisco Examiner
 






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