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By Caroline Salas Gage, Heather Perlberg and Jody Shenn
Record-low mortgage rates aren’t cheap enough for Federal Reserve Chairman Ben S. Bernanke as he tries to spur economic growth and create jobs.
Policymakers are disappointed that lower yields on mortgage-backed securities haven’t led to more savings on home loans after the Fed expanded its balance sheet to an all-time high of almost $3 trillion through bond purchases. Bernanke this month called the trend “unfortunate,” and the Federal Reserve Bank of New York held a workshop to examine the issue.
Read more:Federal Reserve frustrated in effort to lower mortgage rates – The Denver Posthttp://www.denverpost.com/business/ci_22258838/federal-reserve-frustrated-effort-lower-mortgage-rates#ixzz2GDdtPvUK