Morning Minute: New Federal Reserve stimulus plan could boost housing

Under a new stimulus plan announced this week, the Federal Reserve will buy up billions of dollars of mortgage-backed securities, a move that could bring lower interest rates and a boost to the U.S. housing market, the Chicago Tribune reports.  The goal is that the plan will “push already historically low mortgage rates down further for a longer period, spurring refinancing activity and home sales.”

In other news:

FHA Eases Some Key Condo Financing LimitsSpeaking of Real Estate blog

More than 1 million HAMP mods canceled HousingWire

Freddie Mac: Mortgage rates hold steady; 30-year fixed at 3.55% Chicago Tribune

 

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