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Fed Stimulus to Aid Housing Market with Cheaper Mortgage Rates

Home loans will be offered at lower interest rates through 2015 as part of economic push The Federal Reserve has proposed to purchase agency mortgage-backed securities at a pace of $40 billion per month in an effort to push economic recovery.

Homeownership Affordability Highest In Detroit, Lowest in Honalulu

It is 45 percent cheaper to buy a house than rent in the 100 largest metropolitan areas in the U.S. In America’s 100 largest metropolitan areas, buying a home is cheaper than renting, with homeownership affordability at its highest in Detroit, Trulia’a Summer 2012 Rent Vs Buy report showed.

Renovation Work is Creating Jobs in Local Markets

Renovation and restoration work across the nation has increased demand for local labor force As the overall economy picks up, job opportunities, too, have increased leading to lesser number of people looking for work.