Market Update

Wall Street stymied by battle in Congress

Wall Street stymied by battle in Congress

There is no question that the COVID-19 virus, and the reactions to it, are controlling the United States economy right now. But the breadth of that control was extremely evident this week. 

As expected, the Federal Reserve decided to keep overnight lending rates stable, in the range of 0% – .25%. The big news for the housing industry was the Fed’s decision to continue its purchases of bonds, as well as the current lending and liquidity programs put in place, to help mitigate economic problems due to the pandemic. 

Continue reading Wall Street stymied by battle in Congress at Movement Mortgage Blog.

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