Banks must resume lending
Commentary: Borrowers shouldn't take no for an answer
By Lou Barnes, Friday, November 7, 2008.
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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Copyright 2008 Lou Barnes
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