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Federal Reserve to stretch housing market plan

Shared by Niicss on Fri Sep 25, 2009 2:32 am
Federal Reserve has showed confidence in the recovery of the real estate market and has decided to extend the pace of a program intended to lower mortgage rates and sustain the housing market. Thus, it is expected that the rates on home loans would remain low. Apart from this, the Federal Reserve also decided to keep the target range for its key bank lending rate at a record low - between zero and 0.25 percent. Source: http://www.google.com/hostednews/ap/article/ALeqM5g_S5cSA_kwYiaPl9e-FmlENxHSxwD9ATADDG0

Community Members Opinion

sara

Joined: 05 Jul 2006

Moderator
Posts: 2645
Location: New Brunswick, New Jersey

488.43 Dollars($)

Posted: Fri Sep 25, 2009 2:43 am Post subject:

Thanks Niicss for this important news . As the economy is improving, the Fed has decided to reach its goal of buying $1.45 trillion in mortgage-backed securities and debt by the end of March. Earlier, it had planned to buy those mortgage-backed securities by the end of this year. It must be noted that it's the second time since August that the Federal Reserve has opted to slowdown the emergency programs intended to support spending and boost up the economy. These decisions show that the Fed has decided to shift its concern towards nurturing a "growing" economy.