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3 reasons interest rates will stay low for years
Thinking of buying a home? Are you on the fence about taking out a loan? You may still have several years to take advantage of historically low interest rates. In a speech Tuesday, Federal Reserve Bank of New York President William Dudley laid out three key reasons why the Fed may keep its short-term interest rate -- the federal funds rate -- below historic averages for the long haul. That rate is important, because it impacts rates for mortgages and loans. Listen up, because Dudley is a top decision maker at the central bank and closely aligned with current Fed Chair Janet Yellen. 1) The economy remains weak: Like ... (full story)
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