Can't Count on Low Rates Forever, Right? Why QE3 Could be Expensive; HUD disaster relief

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Posted To: Pipeline Press

The Fed giveth, and the Fed taketh away. Both stocks and bonds fell on Wednesday after a Q&A session with Ben Bernanke , and minutes from the latest U.S. Federal Reserve meeting, shed some uncertainty on the schedule of QE3. We also had U.S. existing home sales move higher in April, +.6%, and so once again we have numbers showing a continued improvement in the housing market. Even though sales have likely been restrained by limited available inventory in recent months, the pace of sales reported for April was the strongest of the expansion to date (excluding the home buyer tax credit periods). The sales mix has also become healthier lately with distressed sales accounting for only 18% of the market in April, down from an average of 23% in 1Q and 28% in April 2012. The median price of an...(read more)

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Source: http://www.mortgagenewsdaily.com/channels/pipelinepress/05232013-bernanke-qe3-low-rates-hud.aspx

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