The Federal Reserve will keep interest rates low until 2013

The Federal Reserve will keep interest rates low until 2013. The Federal Reserve pledged on Tuesday to keep lending rates low for at least two years. The benchmark interest rate will be close to 0 at least until...

The Federal Reserve promised on Tuesday to keep lending rates low for at least two years. The benchmark interest rate will be close to 0 until at least mid-2013. Many people in the real estate industry believe that the Federal Reserve's commitment is great news, allowing home buyers more time to enjoy the loan benefits brought by low interest rates. The Federal Reserve said in a statement on Tuesday that the overall U.S. economy is growing slowly and consumers' spending power has also been reduced. American economists believe this is a double-dip recession. Economic analysts analyzed that the Federal Reserve's decision to keep interest rates low for two years is an unprecedented move. They expect economic growth to pick up moderately in the second half of the year, low interest rates to boost consumption, and the Federal Reserve to maximize benefits to lenders. REAL ESTATE NEWS Scottsdale Mall sold for $16.1 million, the center is 90% occupied with the majority of tenants remaining. A Scottsdale home near a golf course sold for the highest price in recent weeks, $2.2 million. The home is built in 2007 on a 4381 sq. ft. lot.

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