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Last Updated: 10/31/2007

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Mortgage and Lending with Mortgage Bankers of Wisconsin
Today's FOMC adjournment brought us the expected quarter point rate cut that was expected by many, but the post-meeting statement created concern about inflation. The Fed referenced the weak housing market as a contributing factor to the change in short-term interest rates, but also indicated that inflation remains an issue, particularly with the high energy and oil prices we are currently seeing.
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Alix Pinzon
Open Mortgage, LLC NMLS # 2975 - Downey, CA
(562)743-6086

It was only a couple of weeks ago that Brazil reported that they'd discovered an off shore oil field that rivaled that of Saudi Arabia's, why hasn't that brought oil prices down?  Millions more people are conserving more electricity lately, why hasn't that brought oil prices down?  Millions more people are driving hybrids, or other alternative fuel vehicles lately, why hasn't that brought oil prices down?  If the news reports are correct, it's because the Chinese and Indian economies are growing so quickly, that they're using more oil.  Unlike the Germans, another huge importer to the U.S., who are doing more than most to lower their use of the black muck.  That should send a loud message to the U.S. consumers, those who have a conscience, stop buying Chinese, and Indian made products.  Let's start demanding to know more about the companies that make our products.  Work conditions, and emission output!  This is the information age people, but you have to put your money where your mouth is.

Nov 23, 2007 05:34 PM