FED CUTS KEY INTEREST RATE

The Federal Reserve Board’s Federal Open Market Committee cut its short-term interest rate by a half of a percentage point today to 4.75 percent. According to the committee, the tightening of credit conditions has the potential to intensify the housing correction and...

PUBLIC NOT BUYING HOUSING 'CRISIS'

Despite media reports that the housing market faces imminent collapse, a study released this week shows consumers are confident real estate values will remain solid even if mortgage rates increase. Three-quarters of respondents to ING Direct’s most recent...