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Fed Keep Rates the Same

December 13, 2006

Yesterday the Federal Reserve voted to keep the benchmark U.S. interest rate at 5.25 percent.  While some expect a quarter point increase sometime in the new year, it is widely held that 2007 will bring declines in rates.  Yesterday the 30-year fixed-rate average inched up to 5.63 percent, and the 15-year fixed rate gained to 5.39 percent. The 1-year adjustable was down at 5.29 percent.

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