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  • Fed Pulls Trigger, to Buy Mortgages in Effort to Lower Rates

    09/13/2012 11:01:38 AM PDT · by Free ThinkerNY · 90 replies
    Yahoo! Finance/CNBC ^ | Sept. 13, 2012 | Jeff Cox
    The Federal Reserve fulfilled expectations of more stimulus for the faltering economy, taking aim now at driving down mortgage rates. The Fed said it will buy $40 billion of mortgages per month in an attempt to foster a nascent recovery in the real estate market. The purchases will be open-ended, meaning that they will continue until the Fed is satisfied that economic conditions, primarily in unemployment, improve. There's strong hints that they'll do Treasurys next," Joe LaVorgna, chief economist at Deutsche Bank Advisors, said in a phone interview from London."They're pulling out all the stops to try to get this...