The rally pushed two-year note yields to within 3 basis points of the lowest level since 2004 as short-term lending rates increased for a 14th day and stocks fell.
Fed funds futures on the Chicago Board of Trade show traders raised bets that the central bank will reduce its 4.5 percent target rate for overnight lending between banks a half- percentage point at its next meeting Dec. 11.
U.S. Treasury Secretary Henry Paulson said at a housing conference in Washington that the government and banks will ``soon'' announce a plan to keep some subprime mortgage borrowers from losing their homes. I can't wait to see what that is!!
The good news is that as of this morning, I am getting 30 YEAR FIXED RATES as low as 5.50%!!!!!!!!!!!