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Posted To: MBS Commentary
Interest rates are trading lower Monday morning after Federal Reserve chairman Ben Bernanke appeared on “ 60 Minutes ” Sunday night. Bernanke said 2.5% GDP growth is needed to keep unemployment stable and it could take up to five years for the rate to fall under 6%. He not only defended the second round of quantitative easing, the program in which the Fed is injecting $600 billion into the economy ― he said a third round was “certainly possible.” “Inflation is very, very low, which you think is a good thing and normally is a good thing,” he said. “But we're getting awfully close to the range where prices would actually start falling … That's deflation and that's what happened in the Great Depression.” The week ahead is pretty light on fresh...(
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