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Best mortgage deals of the week

As possibility of multiple interest rate cuts dwindle here's what banks and building societies are offering

U.S. Fed awards $155.00 bln reverse repos Friday

Reuters - UK Focus

NEW YORK, Feb 27 (Reuters) - The U.S. Federal Reserve on Friday awarded $155.00 billion of three-day fixed-rate reverse repurchase agreements to 69 bidders at an interest rate of 0.05 percent, the Federal Reserve Bank of New York said on its website.

On Thursday, the U.S. central bank allotted $130.58 billion in overnight reverse repos to 54 bidders including Wall Street dealers, money market mutual funds and mortgage finance agencies, also at an interest rate of 0.05 percent.

Demand for the Fed's RRPs tends to rise when the interest rate on repurchase agreements falls. The repo rate was last quoted at 0.14 percent to 0.16 percent, compared with 0.18 percent late on Thursday, according to ICAP (LSE: IAP.L - news) . (Reporting by Richard Leong; Editing by Diane Craft)