The Federal Reserve has started a new auction process to help ease the global credit crunch and give more money to the banks to lend out. The auctions will start on January 14th, and run every two weeks, rather than every three. The feds have increased the limits, although temporarily, to $30 Billion, up from $20 Billion.

You can read the full article on yahoo! here. 

This should lower interest rates on mortgages and get banks to start funding loans. Lets all keep our fingers crossed!

 

 

3 Comments on Feds Give Banks More Money To Lend!

JAN
04
2008
 Good news for cash liquidity among the banks.
9:06pm • #1
3 Featured Posts
Absolutely! More money means more loans funded.
9:07pm • #2
Thanks for the update! Finances are not my strong point so I rely on those with interest to keep me in the loop.
9:43pm • #3

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Charles Tharp ~ Inland Empire Real Estate & Short Sale Specialist

Fontana, CA

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Prudential California Realty

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