Fed Meeting Minutes Expose Mortgage Rates As Remaining Historically Low
The Federal Open Market Committee of the Federal Reserve decided not to reduce the Fed's current quantitative easing program of purchasing $85 billion monthly in Treasury securities and mortgage-backed securities. Going against wide expectations that the Fed would reduce the QE purchases, Fed Chairman Ben Bernanke said that current economic conditions aren't strong enough to warrant tapering. The Federal Reserve May Reduce Monthly Securities Purchases The FOMC, which sets monetary policy for the Federal Reserve has hinted that it might soon reduce the monthly securities purchases, but has also stated that it would closely review emerging economic news and conditions…