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(U.S. News and World Report) — Interest rates have never been lower. It seems that just about every week mortgage rates set a new low. And this week the Fed is expected to undertake a second round of quantitative easing, QE2 for short, by buying up more government debt. As a result, incredibly lowinterest rates may go even lower.  But low rates don’t do us any good if we fail to take advantage of them. So we’ve put together a list of five ways that you may be able to enjoy the benefits of low interest rates. 1. Buy a home. The combination of low rates (current mortgage interest rates on a 30 year fixed are about 4.3 percent) and falling real estate prices make for a perfect time to buy a home. Particularly for first time buyers, there may never be a better time to take the plunge into homeownership than over the next year. Some say home values may still fall over the next year, so knowing exactly when to buy can be a bit of gamble. But locking in incredibly low rates on a 30-year mortgage is a great way to reap the benefits of the current interest rate environment.

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