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Has the Fed misjudged the economy?

Translating those bond market rates into consumer interest rates means good news for borrowers, and bad news for savers. Current mortgage rates are some 21 basis points below where they were the first week of January. That is good news for anyone looking to take advantage of low home purchase or refinance rates.

On the less happy end of the spectrum, the accumulation of discouraging economic news means continued low rates for savings accounts, CDs and money market accounts. Their future depends on whether the Fed's apparent optimism is more accurate than the stock market's recent pessimism.

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