MND WEEKLY: Recapping The Week That Was in Housing
I have done this once before and got great feedback. Let me know if you found this recap useful. The Federal Open Market Committee (FOMC) met for a one day meeting on Tuesday. The FOMC is the branch of the Federal Reserve that dictates domestic monetary policy. The FOMC statement held no surprises, only a few alterations were made to the text of the release. The Board reiterated that economic conditions warranted exceptionally low rates for an "extended period". There were two changes made that relate to housing. First, the Fed inserted a few words that imply there is good reason to be concerned about the health of housing, stating: " Housing starts have been flat at depressed levels ". Secondly, the verbiage referring to the MBS Purchase Program, which is scheduled to run…(read more)
