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Added on the 20/09/2016 13:54:18 - Copyright : Euronews EN
In March, the US Federal Reserve's lowering of interest rates fueled a housing boom. According to Business Insider, the Federal Housing Finance Agency says that the explosion shows no signs of subsiding. A seasonally adjusted index of prices rose 1.7% in September from the prior month, and prices jumped 7.8% from their year-ago period. Mortgage rates hit their thirteenth record-low of the year last week. The average 30-year fixed-rate mortgage rate fell to 2.72% from 2.84%. However, experts say the good times in the housing market aren't likely to last forever. We expect some moderation in the pace of housing starts in the face of the rapidly escalating health crisis, a faltering recovery, and softening labor market gains. Nancy Vanden Houten, Lead US economist, Oxford Economics
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Fiscal policy makers from around the world encourage U.S. Fed officials to not delay start of interest rate hikes. Kelsey Hubbard reports.
The US Federal Reserve holds interest rates at a 23-year high. "Today, the FOMC (Federal Open Market Committee) decided to leave our policy interest rate unchanged and to continue to reduce our securities holdings," announces US Fed Chair Jerome Powell. SOUNDBITE
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"A decision on a pause was not made today," Fed Chair Jerome Powell says during a press conference when asked whether the US Federal Reserve has made the decision to pause rate hikes. SOUNDBITE