Fed Poised to Take Unprecedented Action to Spur Mortgage Lending

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.

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