U.S. mortgage rates are the lowest in at least four decades,with a 30-year fixed loan available at 4.09 percent. That didn'thelp Alexis Wolf buy a townhome in Beaverton, Oregon.
“Unless you have family help, you're stuck renting,” said Wolf,26, a real estate broker who turned to relatives for a loan becauseshe didn't have the credit and employment history needed to qualifyfor a mortgage.
Wolf's experience illustrates the predicament for FederalReserve policy makers as they end a two-day meeting today toconsider ways to boost economic growth. Low interest rates, thetraditional medicine for a flagging economy, aren't helpinghousing, which since 1982 has aided every recovery except thecurrent one.
Continue Reading for Free
Register and gain access to:
- Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
- Informative weekly newsletter featuring news, analysis, real-world cas studies, and other critical content
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
