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Released: August 12, 2011
Why the Fed announcement won’t boost the housing market
Source: Alison Rogers, Time
The Federal Reserve’s announcement this week that it would keep a key interest rate near zero seemed designed to be a chill pill — a way to calm jittery stock market investors by showing that it recognized, and was trying to manage, economic weakness. Whether the announcement was good for real estate is another story. In a normal world, mortgage rates would track the Fed’s benchmark rate. And indeed they have, with 30-year fixed mortgages dropping to 4.32%, near the historic low of 4.17% they hit in November.Read Full Article: Why the Fed announcement won’t boost the housing market
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