Tidewater Real Estate Blog

October 16th, 2009 11:41 AM
Housing: Fed Divided in Sept. Meeting
Members of the Federal Reserve who met behind closed doors in late September were worried about the housing market once the first-time homebuyer tax credit expires at the end of November. They weren’t in agreement about plans to buy mortgage securities to drive down interest rates, according to the minutes of the meeting released Wednesday.

The minutes don’t identify speakers by name, but it was clear that Fed policymakers didn’t see eye to eye.

The Fed policymakers noted that the housing market led the recession and putting it on better footing is essential if the national economy is to be healthy. Homeowners still face “considerable headwinds,” the minutes read.

Source: Associated Press, Jeannine Aversa (10/14/2009)

Posted by Brad Nichols on October 16th, 2009 11:41 AMPost a Comment (0)

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