Treasury Eyes New Plan to Drive Down Mortgage Rates. Feds believe increased call for mortgage-backed securities would push mortgage rates to drop. Big Three automakers testify on $34Billion bailout plans. AT&T Inc. says it will cut 12,000 jobs, or about 4 percent of its work force through 2009. European Central Bank slashes key interest rate by 3/4th of a percentage point in bid to lower borrowing costs to ease the impact of the financial crisis in Europe.”]
Source: https://www.cuinfosecurity.com/treasury-eyes-new-plan-to-drive-down-mortgage-rates-a-1096