Mortgages are now getting cheaper!

Today the Federal Reserve took some steps to help the economy get back on its feet. “The Fed said it will buy $40 billion of mortgage-backed securities per month in an attempt to foster a nascent recovery in the real estate market.” This will assist in home prices securities. This is on the heals of a very poor jobs report this past month that some analyst have placed blame on Hurricane Issac.

Fed Pulls Trigger, to Buy Mortgages in Effort to Lower Rates

Read the full report above to see what the Fed is doing to give some relief to the housing market where so many people are struggling.

Mortgages are now getting cheaper!

I would love to hear what people have to say about Fed Chairman Ben Bernanke and the new policy that he has come out to assist with the economy. Do people think he is doing this right now for political posturing and the election? Or is it a legitimate purpose that can get us out of a possible double dip recession?

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