patrick.net

http://economywatch.nbcnews.com/_news/2012/09/13/13845675-fed-to-buy-more-debt-in-effort-to-boost-sluggish-economy?lite

The housing market must really be rosy. The Fed just announced they are purchasing $40 more Billion dollars a month in mortgage debt to the already
$2.3 Trillion purchased so far.

"The Fed's move to purchase more mortgage debt may be partly aimed at aiding the housing sector"

And just so I didn't make it up: "The latest purchases build on the $2.3 trillion in U.S. government and housing-related debt the Fed has already bought."

Need I say more? Oh, interest rates will remain low until 2015, not 2014.

The bond buying will continue until employment improves. That's the message the Federal Reserve gave Thursday when it announced it will take new steps to boost the sluggish recovery including buying an additional $40 billion of mortgage debt every month for the foreseeable future.

#housing