Many news items to share with you today:
The Federal Open Market Committee held steady this month stating their decision to "..maintain the target range for the federal funds rate at 0 to 1/4 percent and anticipates that economic conditions are likely to warrant exceptionally low levels of the federal funds rate for an extended period"
And, in a move that has already sent interest rates lower, The Federal Reserve announced "Moreover, to help improve conditions in private credit markets, the Committee decided to purchase up to $300 billion of longer-term Treasury securities over the next six months."
Read more here:
Federal Reserve Board Press Release
The National Association of Home Builders reports that February home starts increased for the first time in eight months. However, "...the only area of the country to post a lower rate of total housing starts for February was the West, with a 24.6 percent decline." Read here: National Association of Home Builders
The California Building Industry Association reports that new home sales in California during January, 2009 were slow. Read here: California Building Industry Association