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09/27/09
Fed slows aid efforts, shows hope in recovery
Filed under: General, Mortgages, Finance
Posted by: Lillian Wong @ 12:30 pm

WASHINGTON - With the economy on the mend, the Federal Reserve said Wednesday that it is slowing the pace of a program to lower mortgage rates and prop up the housing market.

The Fed decided to stretch out its goal of buying $1.45 trillion in mortgage-backed securities and debt issued by Fannie Mae, Freddie Mac and Ginnie Mae until the end of the first quarter of 2010.   more…



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