Economists urge bigger stimulus for Obama plan
Economists from across the political spectrum advise Barack Obama to pursue a recovery package far larger than 600 billion, with some recommending 800 billion to 1 trillion over two years to save or create about 2.5 million jobs. Figures vary, with Pelosi signaling a 600 billion package blending near term and long term spending.
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Refinancing surge as Fed cuts rates to near zero
Tony Jabon in Charlotte leads a national rush as the Fed slashes the federal funds rate to zero to 0.25 percent. Brokers report 4.5 percent bargains for strong credit, with 30 year fixed mortgages averaging 5.06 percent, the lowest since the 1960s.
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