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FBN’s Peter Barnes with analysis of how the Federal Reserve’s decision this week will impact mortgage rates and the economy overall.
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The Federal Reserve's latest push to help the economy certainly boosting the stock market over the last couple of days.
But we'll measures be -- on the economic front let's could appear bark hello -- single story he's live in Washington Peter.
Landlords some outside economists think so the Fed of course hope so but these outside economists -- -- getting notes from today think that this could lead to more jobs.
And of course lower interest rates especially on mortgages Diane Swann -- -- -- financial predicts the new stimulus flat about a half a percentage point to GDP.
By 2014 -- in point fourteen wanna be accurate former fed economist Joseph Gagnon of the Peterson Institute here in DC.
Things that could be a half a percent in 2013.
Which could create an additional 700000.
Or so new jobs.
What they're saying is.
They hope this sparks -- strong recovery next year and despite that even if we get a nice strong recovery next year and even if inflation goes a little above two.
They are not going to tighten they are not walk this back there -- going to let this party.
You know get really roaring next year before they take the punch bowl away.
High frequency economics says the Fed's plan to buy forty billion dollars a month and mortgage backed securities should help lower mortgage rates yields on MBS fell by more than two tenths of a percent.
-- -- a percentage point yesterday on the news that should show up in mortgage rates soon large.
Thank you Peter we'll keep -- I an.
