With tax credits gone, new home sales plunged 33% in May to a seasonally adjusted annual sales pace of 300,000, dropping to the lowest level on record since 1963. It also was the largest monthly drop on record. Since the peak in July 2005, new home sales have now sunk 78 percent from their high. The […]
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Fed Meeting Leaves Low Interest Rate Policy Untouched
Tuesday, July 20th, 2010 | Comments Off on Fed Meeting Leaves Low Interest Rate Policy Untouched
As expected by most Fed watchers, the Federal Reserve Open Market Committee left?its low?Fed funds rate (which is in the 0% to 0.25% range) unchanged. This is the 13th consecutive time the Fed has left the rate unchanged in order to help boost the economy and support the housing market, which is due to feel […]
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