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Fed wants to ensure U.S. housing affordability, Dudley says

Posted on 25 October 2011

William C. DudleyFederal Reserve Bank of New York President William C. Dudley said the central bank wants to keep mortgage interest rates from rising too much and may do more to hold down borrowing costs.

The Fed’s decision last month to reinvest proceeds from maturing housing debt into mortgage-backed securities was a “signal that we do have concern about the level of mortgage spreads,” Dudley said today. “Clearly we’ve indicated our interest in supporting the housing market” and keeping yields from “getting too elevated.”……………………………………..Full Article: Source


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