Morning Minute: New Federal Reserve stimulus plan could boost housing

Under a new stimulus plan announced this week, the Federal Reserve will buy up billions of dollars of mortgage-backed securities, a move that could bring lower interest rates and a boost to the U.S. housing market, the Chicago Tribune reports.  The goal is that the plan will “push already historically low mortgage rates down further for a longer period, spurring refinancing activity and home sales.”

In other news:

FHA Eases Some Key Condo Financing LimitsSpeaking of Real Estate blog

More than 1 million HAMP mods canceled - HousingWire

Freddie Mac: Mortgage rates hold steady; 30-year fixed at 3.55% - Chicago Tribune

 

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About Stephanie Sievers

Stephanie Sievers is Senior Editor for the Illinois Association of REALTORS®. She serves as Senior Editor for IAR publications including the Illinois REALTOR® magazine and all other IAR publications. She is responsible for developing content for the Illinois REALTOR® Weekly Connection e-newsletter, coordinates the IAR Twitter account content at ILREALTOR and plans and develops content for videos. She assists in developing and writing content for the IAR blog. She also is involved in researching and drafting news releases and coordinates the news media distribution database and newsclips reports for the Association. She also assists in IAR spokesperson training seminars and is involved in development of association briefing materials on issues. She assists with the housing statistics program and reports.