Fed Poised to Take Unprecedented Action to Spur Mortgage Lending

Having already cut its target Fed Funds Rate to a range of 0 - .25 percent, the Federal Open Market Committee (FOMC, Fed) today announced that it will maintain the funds rate and will continue, and perhaps expand, its current plan of purchasing mortgage-backed securities. The Fed went even further, stating its prepared to purchase long-term Treasury bonds as a means to help free up credit for consumers.

Read More

Did Fed Poised to Take Unprecedented Action to Spur Mortgage Lending Deliver on the Promise?
(Rate!)