Citing rising mortgage rates and an unstable economy, the Federal Reserve said that it’s holding off on its decision to pull back on its bond-buying activity.
“Household spending and business fixed investment advanced, and the housing sector has been strengthening, but mortgage rates have risen further and fiscal policy is restraining economic growth,” the Fed said in a statement.
Many, including Inman News columnist Lou Barnes, had expected that the Fed would begin tapering today. U.S. and global bond markets have been highly reactive to the Fed’s taper talk.
“This is incredibly wimpy,” David Kelly, chief market strategist at Morgan Stanley, told CNBC.
Source: CNBC and Federal Reserve
– See more at: http://www.inman.com/wire/fed-holding-off-on-taper/#sthash.pOY0uRAz.dpuf
Just back out of hospital in early March for home recovery. Therapist coming today.
Sales fell 5.9% from September and 28.4% from one year ago.
Housing starts decreased 4.2% to a seasonally adjusted annual rate of 1.43 million units in…
OneKey MLS reported a regional closed median sale price of $585,000, representing a 2.50% decrease…
The prices of building materials decreased 0.2% in October
Mortgage rates went from 7.37% yesterday to 6.67% as of this writing.
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