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Brazil president's plan to restore finances takes step forward

By Maria Carolina Marcello BRASILIA (Reuters) - Brazil President Michel Temer won another victory on Tuesday in his effort to restore fiscal discipline when the lower house of Congress approved a constitutional amendment to cap spending for 20 years. Heavy public spending, a recession and a massive corruption scandal rocking Brazil's political establishment undermined confidence in South America's biggest economy last year and stripped the country of its investment-grade rating with creditors. The constitutional amendment would limit the growth of public spending to the rate of inflation of the previous 12 months for up to 20 years.

Today's Rates*

30 Yr Fxd3.50%3.725%
15 Yr Fxd2.75%3.181%
5 Yr ARM2.75%3.729%
*=This is only an estimate, provided for illustrative purposes only. Actual rates and payments may vary. It does not constitute a quote.

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