That sort of criticism highlights the difficulty of the Fed’s mission, and though the significant drop in mortgage rates in the past six months has been welcome in almost all quarters, it is hardly a magic bullet for the multi-faceted housing market ... Ely and others say it is only ...
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Written by on March 31st, 2009
Written by on March 28th, 2009
This boost is due entirely to the expected increase in mortgage refinancing activity motivated by the drop in interest rates following last week's Federal Reserve's announcement on the Treasury bond and mortgage -backed securities purchases ... MBA projects that total existing home sales for 2009 will drop 2.5 percent from ...