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The Federal Reserve cut short-term interest rates by 0.25 percent to 4.50 percent today (October 31, 2007). Wall Street expected the cut. The Fed sighted weakness in the housing market as one reason to lower interest rates.
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I am a Massachusetts real estate broker and lawyer and co-founder/owner of Buyers Brokers Only, LLC. I am also a partner in the law firm of Rosa & Kres, LLP.
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