The Fed reduced its key rate from 2 percent to 1.5 percent. In Europe, which also has been hard hit by the financial crisis, the Bank of England cut its rate by half a point to 4.5 percent and the European Central Bank sliced its rate by half a point to 3.75 percent. (let's see if this "trickles" down to home buyers - we have a client waiting for loan documents).

October Real Estate Newsletter

Learn about 2008 tax rates and the latest tax law changes at this Year End Tax Newsletter