Struggling homeowners won't find aid from Fed
The Federal Reserve"s recent rate cut won't help millions of people facing spikes in their monthly mortgage bills.
That's partly because their mortgage rates and terms are set by global investors in London, rather than in the United States.
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Three-quarters of the ARMs taken out by buyers with shaky credit standings and about a quarter of the hybrid ARMs taken out by those with good credit ratings are tied to the London Interbank Offered ...
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