Mortgage Rates Will Continue to Drop

Feb 01, 2008

The declining U.S. job market increases the odds that the Federal Reserve will cut interest rates another half point next month.

Payrolls fell by 17,000 in January after an 82,000 gain in December that was larger than initially reported, according to the U.S. Labor Department. Employment is one of the indicators, along with wages, production and sales, that help determine the start of economic contractions. Lowering interest rates may avert a possible recession.

Prices in Queens, Long Island Falling >

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