Industry NewsMarkets & Economy

Banks must resume lending

Commentary: Borrowers shouldn't take no for an answer
Published on Nov 7, 2008

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by CareyBot

The credit markets this week continued to thaw. All-important LIBOR fell to 2.38 percent for 90-day money; and one-year is down to 2.84 percent -- ARMs resetting next month will settle just a hair above 5 percent. 30-year mortgage rates with no fees made it to 6 percent, but for the umpteenth time this year stopped at that barrier.

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