Wednesday, September 19, 2012

Hey Fed, lower mortgage rates will only do so much

Federal Reserve chairman Ben Bernanke launched a new program Thursday aimed at pushing mortgage rates even lower. But industry insiders are skeptical the plan will do much to bolster the housing market.
The Fed announced it will buy up additional mortgage-backed securities at a rate of $40 billion a month until the economy recovers.    "The program should increase downward pressure...Read full story for latest details. Hey Fed, lower mortgage rates will only do so much:
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Fed Leaves Rates Unchanged; Sees Inflation but Also Strong Economic Activity

  WASHINGTON — As expected, the Federal Reserve left its benchmark interest rate unchanged Wednesday, keeping the target range at 3.75% to ...