The Federal Reserve's decision to ease its monetary policies will boost a housing market beginning to rebound, help restore consumer confidence in the real estate market, and could give a helping hand to borrowers with adjustable-rate mortgages(ARMs), according to the National Association of Realtors(R) .
"We believe that the Federal Reserve Board made the right move today in lowering the interest rate," said Pat V. Combs, president of the National Association of Realtors(R) and vice president of Coldwell Banker-AJS-Schmidt in Grand Rapids, Mich. "Making borrowing more affordable will make money more available and this could go a long way in helping turn around the sluggish housing market."
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