Fed's move to unlock lending market could send mortgage rates well below 5 percent
Mercury News, March 18, 2009
By Pete Carey
... But at least one California housing expert sounded a note of caution about how quickly the Fed's actions might turn the recession-gripped economy around.
"Ultimately this has got to get people buying again," said Richard K. Green, director of the University of Southern California Lusk Center for Real Estate. "But I'm doubtful it will happen this week or this month. People are very skittish. One factor is, are you worried about your job? No matter how appealing the price of the house or the mortgage rate is, you don't want to get stuck."...
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