Federal Reserve Chair Ben Bernanke told congress that interest rates are likely to remain low for extended period. The economy still requires support for recovery. Investors are breathing a sight of relief after his speech. Investors see this low rate as a boon to a recovery of employment and business.
Bernanke's announcement also took the edge off the news Wednesday that housing sales hit a new low in January.
Even though nothing he said was particularly new, it was just enough to calm the ruffled feathers that were out there, said Jim McDonald, chief strategist at Northern Trust in Chicago.
This is good news for buyers looking to purchase that Home, Don't wait to long. This will not last for ever.
Source: Associated Press Tim Paradis
Realtor Magazine article
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