Ben Thinks No Better Job Numbers Until 2015

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Mortgage and Lending with Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 NMLS # 6869

“Ben Thinks No Better Job Numbers Until 2015”

Federal Reserve chairman, Ben Bernanke is at it again, printing money to stimulate the economy in order to keep interest rates superficially low. There is no political motivation here?

Left to his own devices and the support of the current administration, their mission is clear. Do anything to re-elect Barack Obama. Anything, which includes printing money that we don’t have. Our debt is already 16 trillion dollars. Can you possibly imagine what is would go up too, if he was re-elected?

Where is all this money coming from?Besides the National debt, with no end in sight, gas prices above $4 per gallon with no end in sight, continued unemployment above 8% with no end in sight, a foreign policy in shambles with no end in sight and he still has a shot to win this election. I guess the supporters don’t really care about the debt that is being created for their children and grandchildren. Otherwise there is no explanation.

 

Fed Committed to $40B In MBS until Jobs Return; Low Mortgage Interest Rates May Continue Until 2015

By: The NicheReport

 

Great news for real estate investors, home shoppers and mortgage borrowers: Operation Twist and other efforts by the United States Federal Reserve to stimulate the economy will continue until at least 2015. The Fed is set to purchase record amounts of mortgage-backed securities to stimulate the employment and housing markets, and does not plan to raise interest rates for another three years.

The combination of Operation Twist with the assertive purchase of mortgage-backed securities points to a previously unheard-of stimulus by the government. The statement by the Fed’s Board of Governors indicates that they are committed to energizing the U.S. economy, at least until the employment situation improves. The central bank stated it will enlarge its holdings of long term securities with open ended purchases of $40B of mortgage debt per month. With regard to interest rates, the Fed announced that its “highly accommodative stance of monetary policy” will remain, meaning that the low Annual Percentage Rates (APRs) currently offered by mortgage lenders are set to continue.

Political Motives Observed

The global financial exchanges responded in different ways. Stocks gained along with gold and oil prices, but U.S. bonds and the dollar experienced losses. In Brazil, the Finance Ministry voiced concerns about the dollar’s weak outlook against the Brazilian real. In Capitol Hill, Republican Senator John Cornyn stated that the Fed’s efforts seem to be politically motivated in light of the presidential election campaign.

The Fed’s plans for the economy may seem like part of a maverick plan, but American voters are also being treated by seemingly radical proposals from presidential hopeful Mitt Romney. Analysts agree that both candidates are presenting unique ideas, but then again the U.S. economy has undergone major changes in the 21st century,

The Bottom Line for Housing

The American housing market has shown signs of resilience in 2012. Real estate investors have taken advantage of record low APRs to finance home purchases, and an uptick in median home prices has brought relief to more than a million homeowners who were previously in negative equity situations.

The Fed’s announcement gives home shoppers more time to look around with the confidence that mortgage interest rates will remain low for another couple of years. One of the intended effects of the Fed’s monetary policy intervention is to keep enticing home buyers with historically low mortgage interest rates, but that will always be contingent upon a reasonable unemployment rate.

image: Michael Elliott/freedigitalphotos.net

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Joe Petrowsky, NMLS #6869

Right Trac Financial Group, Inc. NMLS #2709

110 Main St.

Manchester, Ct. 06042

Office: 860 647-7701 x116

Fax: 860 647-8940

Cell: 860 836-9294

Email: joe@righttracfg.com

www.righttracfg.com

www.joepetrowsky.com

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Joe Petrowsky does not guarantee nor is in any way responsible for the accuracy of the information provided herein, and provides said information without warranties of any kind, either expressed or implied.

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Debbie Reynolds
Prudential PenFed Realty, "The Real Debbie Reynolds" Your Clarksville Real Estate Professional, 931-920-6730 - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

Joe, These are difficult times and I don't know where it is heading.

Sep 21, 2012 11:16 AM #1
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Joshua Zargari
MJ Decorators Workshop LI staging and home decorating - Lynbrook, NY
MJ Decorators Workshop

Hi Joe.

My friend who retired a year ago must go back to work.

He lost $$$ in the stock market, than transfer most of his money to the bank...No interest on his money...

The value of his money is about 40% of what it was 5 years ago.

His son who got married wanted to buy a house, and needed money for the down payment.

My friend couldn't help his son...

Chain reaction...

Sep 21, 2012 11:39 AM #2
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Roger D. Mucci
Shaken...with a Twist 216.633.2092 - Euclid, OH
Lets shake things up at your home today!

This is all very scary to me Joe............very scary.

Sep 21, 2012 11:56 AM #3
Rainmaker
681,021
Richard & Beth Witt
RE/MAX Wittney Estates 516-795-6900 www.longislandrealestatesearch.com - Massapequa, NY
Broker/Owner RE/MAX Wittney Estates Long Island NY

Hi Joe... I truly believe that the press is killing this country as much as the Barack Obama... I mean look at how biased their reporting is... Rich and I have a dear friend that came to America from Russia many years ago and he is besides himself... He feels that he is losing the freedom that he came here for and he blames a good part of it on the press... He told us that was exactly what happened in Russia... The way we see it is he had America to run to... where the heck do we go...

I pray so much that he doesn't win... Roger is scared and so are we... 

Happy Evening Joe... and bless you for this post!!!! People need to know... I mean how many people have a clue what 16 trillion dollars is???  Yikes...  Okay... I'm upset... gotta go...

Sep 21, 2012 01:40 PM #4
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George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages Connecticut - Middletown, CT
Your Connecticut Mortgage Expert

Joe, unfortunately for many it comes down to if there is a "D" or "R" after the name, and not about what they are doing.  Then they stand around scratching their heads wondering why things keep on going down the toilet.

Sep 21, 2012 05:33 PM #5
Rainmaker
1,804,031
Lou Ludwig
Ludwig & Associates - Boca Raton, FL
CRB, CRS, CIPS, GRI, SRES, TRC, e-PRO

Joe

We are living through very challenging times.

Good luck and success.

Lou Ludwig

Sep 21, 2012 06:59 PM #6
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Conrad Allen
Re/Max Professional Associates - Webster, MA
Webster, Ma, Realtor

Hi Joe.  No political motivation? Ha!  Our grandchildren are in big trouble.

Sep 22, 2012 04:02 AM #7
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Roy Kelley
Realty Group Referrals - Gaithersburg, MD
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Enjoy the first weekend of fall with your camera in hand.

Sep 22, 2012 04:08 AM #8
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Frank Laisch
Stewart Title Company - Tampa, FL
"The Insurance Guy"

Joe, what they are doing is like throwing gas on a fire, the government is in shambles, It is very scary

Sep 22, 2012 04:29 AM #9
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Joe Petrowsky

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