Bloomberg News, at how low home payments are compared to rent.”
Policy makers are promoting programs designed to reinvigorate the housing market. The Obama administration this month started a new version of the federal Home Affordable Refinance Program, or HARP, after the original plan helped less than a quarter of the people targeted to lock in lower mortgage rates.
Officials at the Federal Reserve this month reiterated that they will keep the benchmark interest rate near zero until at least mid-2013. The central bank in September decided to reinvest maturing housing debt into new mortgage-backed securities instead of Treasuries.
Bloomberg Survey ============================================================== Release Period Prior Median Indicator Date Value Forecast ============================================================== Case Shiller Monthly MO 12/27 Oct. -0.6% -0.3% Case Shiller Monthly YO 12/27 Oct. -3.6% -3.2% Consumer Conf Index 12/27 Dec. 56.0 58.6 Initial Claims ,000’s 12/29 24-Dec 364 374 Chicago PM Index 12/29 Dec. 62.6 61.0 Pending Homes MOM% 12/29 Nov. 10.4% 1.5% ==============================================================
To contact the reporter on this story: Timothy R. Homan in Washington at thoman1
To contact the editor responsible for this story: Christopher Wellisz at cwellisz
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