Housing market to be supported, says Federal Reserve

The US Federal Reserve has announced it is allocating an extra USD600 billion (GBP393 billion) in a bid to raise the level of liquidity in the mortgage markets.

It announced that USD100 billion will be spent very soon on buying up obligations of government sponsored mortgage enterprises Fannie Mae and Freddie Mac in a series of competitive auctions....

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[Source: Global Real Estate & Investment News from Propertyshowrooms.com]