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Bernanke: QE Keeping Mortgage Rates Low

pledging to keep rates low “well past the time that the unemployment rate declines below 6-1/2 percent [threshold],” and promising the more QE could be in the cards. As the market roars on betting on.

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 · For example, when the Fed first announced purchases of mortgage-backed securities in late 2008, 30-year mortgage interest rates averaged a little above 6percent; today they average about 3.

Meanwhile, the bank’s commitment to keeping short-term interest rates low will most likely go unchanged for another year after QE stops. These low rates will only allow inflation to fester. Once the Fed finally does decide to increase the nation’s artificially low interest rates, the cost of lending will rise with it – potentially leading to a higher deficit and more government debt.

Notably, mortgage rates dropped significantly on the announcement of this program and have fallen further since it went into operation. Lower mortgage rates should support the housing sector. The Committee is also evaluating the possibility of purchasing longer-term Treasury securities.

The policy of so-called quantitative easing (see here and here) expanded the Fed’s balance sheet from less than $900 billion before the crisis to about .5 trillion today-including about $2.5.

Keeping interest rates low will definitely help. However, we are not sure it will be a driving force in a housing recovery. Rates are already at historic lows and the challenge to many buyers is availability of mortgage money more than it is the cost of that money (rate).

Long-Term Interest Rates. 4. Real interest rates are not constrained by the zero bound, and the fact that expected average real short-term interest rates are near zero reflects that the nominal rate is expected, on average, to run close to the expected inflation rate, which is near 2 percent. Return to text 5.

At the last monetary policy meeting, the Fed announced that it will buy $40 billion of mortgage. commentary from Bernanke’s speech are summarized as follows: – Doesn’t expect economy to be weak.

Why Your Bank May Not Be Giving You the Best Mortgage Rate While there is little – make that nothing – you can do about bank profit margins or how Fannie and Freddie shape lender pricing, Davenport says there are other cases in which a borrower may not be getting the best rate he or she can get, and sometimes a tactical move or two can make the difference.

Last month, Ben Bernanke announced that if forecasts for the US economy met expectations next year, the currently indefinite cycle of QE (quantitive easing) would come to an end.

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 · Well, the Federal Reserve has now released its statement and the central bank actually did two things to try and improve QE3. First, the Fed will keep short-term interest rates low until mid-2015. Second, the central bank will buy up $85 billion worth of assets each.

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