From RealTrends.com: The Federal Reserve announced that it intends to keep rates at their record lows at least through the end of 2014 and that their targeted inflation rate is to be 2%. The Fed announced its intention to be more transparent in communicating the direction of its rate guidance and the factors that it uses to measure the economy’s performance.
The news that rates will stay low will help most every facet of the economy including housing. News out yesterday that first time claims for unemployment rose unexpectedly in the past week adds fuel to those who believe that the economy is a long way from being cured.