By RealEstateIsBetterThanStocks follow 2012 Dec 26, 4:44am 1,588 views 4 comments
watch (1) quote
Record-low mortgage rates aren't cheap enough for Federal Reserve Chairman Ben S. Bernanke as he tries to spur economic growth and create jobs.
Policymakers are disappointed that lower yields on mortgage-backed securities haven't led to more savings on home loans after the Fed expanded its balance sheet to an all-time high of almost $3 trillion through bond purchases. Bernanke this month called the trend "unfortunate," and the Federal Reserve Bank of New York held a workshop to examine the issue.
Read more: Federal Reserve frustrated in effort to lower mortgage rates - The Denver Post http://www.denverpost.com/business/ci_22258838/federal-reserve-frustrated-effort-lower-mortgage-rates#ixzz2GC0tvjwF
Comments 1-4 of 4 Last »
Yup! He's an idiot.
It will make no difference to starts.
There is no short, medium, long term confidence in property ownership.
Perhaps it has something to do with robo-signing or chain of ownership issues!
Bennie will end up buying every fraudulent security issued since the repeal of Glass-Steagall so he and his friends don't end up as being pariahs swinging from lamp posts. Then after quieting the titles on all the properties he'll resell them to the fresh crop of workers. Problem solved.
I bet he retires in France, where people this stupid are a national treasure.
What a load of intellectual dishonesty, to suggest that the feds actions are lowering interest rates, when they appear to be doing tho opposite, creating a floor for rates