Federal Reserve Launches QE3!
The Federal Reserve has just announced that it will launch QE3 in an effort to provide stimulus to the economy and help with the ongoing unemployment woes of the US economy. QE3 is the third round of what is known as Quantitative Easing where the Federal Reserve has pledged to purchase another $40B worth of Mortgage Backed Securities. This is to start as soon as this Friday at the Treasuries Auction. Furthermore, in today’s announcement by the Fed, they have pledged to keep interest rates at all time lows through mid 2015. This bodes very well for home purchasers, refinancing opportunites and should help continue to stimulate our improving housing market. This is great news in this perspective!
