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Fed’s Fisher says housing market has `bottomed out’

Posted on 02 July 2012

Richard FisherFederal Reserve Bank of Dallas President Richard Fisher said he believes low mortgage rates have helped bring an end to the slump in U.S. housing. “I do think the housing market has bottomed out,” Fisher said to reporters today in Aspen, Colorado. The improvement has been “assisted by these low mortgage rates that we’ve had.”
More Americans than forecast signed contracts to purchase previously owned homes in May, indicating the real estate industry is firming three years after the start of the economic recovery………………………………………..Full Article: Source

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