Looking at potential disruption to the flow of credit to households and businesses, the Federal Reserve took emergency actions this week to help markets function smoothly.
That includes a lowering of the federal funds rate, a commitment to buy $700 billion of securities, and a backstop for the discount window to encourage institutions to access any funding they might need.
Read on for details of the Fed’s moves, along with reaction from the Mortgage Bankers Association on the impact to the mortgage industry.