Word: lowes
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...raises the question as to whether the government should be offering low mortgage rates all the time, not just during a crisis," says Laurence Yun, chief economist of the National Association of Realtors, which has been pushing for a plan to lower mortgage rates for the past month. Yun predicts lowering 30-year fixed mortgages to 4.5%, from their current rate of 5.5%, would produce an additional 500,000 home sales in the next year. "We need to do this because the economy will not stabilize until home prices stabilize," says Yun. "The way to do that...
What's more, the Treasury's proposed program would only make the low-cost mortgages available to people making new home purchases. That would do little to help people who are already behind on their mortgage, or at risk of facing foreclosure. And many economists argue housing prices won't stop falling until foreclosure rates come down. On Thursday, Federal Reserve Chairman Ben Bernanke said that he thinks the government should do more to stop foreclosures. He named a number of possible programs, including a plan floated a few weeks ago by Sheila Bair, who heads the Federal Deposit Insurance...
...Working with Harvard’s Office of Technology Development, Ramanathan created SiEnergy, a spin-off that received $500,000 last year from Allied Minds, a venture capital investment firm that focuses on innovative early-stage technologies, to develop their low-temperature fuel cell technology...
...students recommended that the Federal Reserve lower its rate to .5 percent from its already historically low 1 percent...
...issue for the policy makers in the Fed is that interest rates are low but it is clear that our economy is still in trouble,” Motley said. “Their main tool is interest rates. Now that they have done almost all they can with that, the question is what is left...