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Huge Fed rate cut
Today the Fed cut the federal funds rate a huge 3/4% . This is the biggest rate cut they have made since the the early 1990s.  You can read more about it in USA Today.  The announcement didn't seem to help the markets much as the Dow dropped below 12,000 and world markets have been having big sell offs as well.  This market has been quite a roller coaster.
 
The winners with the rate cut though will be people with business lines of credit, HELOCs, and credit card debt.  Rates on these should drop quite a bit.  I have a few outstanding lines of credit on my rental properties including the one I am using to fund my Flip This House transaction.  It is always darkest before the dawn as the old saying goes.
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(Copyright © 2008. Sand Dollar Realty Group, Inc. All rights reserved.)
Rob Arnold, ABR, CPL, CRB, GRI, Managing real estate broker, Licensed mortgage broker, Notary Public           
407-389-7318 www.SDRhouses.com/
Your full service and investor friendly Realtor in Orlando. Learn to invest in Central Florida real estate and Orlando real estate. Investor mentoring and counseling available.  I also provide flat fee MLS listings, For Sale By Owner, and menu-based services in Florida.
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