Mortgage

The final round of quantitative easing is expected to finally come to an end at the conclusion of a two day summit this week.  The Federal Reserve enacted quantitative easing or QE3 at the height of the recession to stabilize as well as stimulate the economy, but has slowly backed away from stimulus spending over the last two years.

In the aftermath of the 2008 recession, the Obama administration passed what came to be known as the Dodd-Frank law in the summer of 2010.  The law brought some of the biggest changes to the financial industry since the Great Depression of the 1930s, including stricter rules for creditors to approve and lend mortgage loans.

The US housing market is very inconsistent month to month, leaving many experts divided over the long term outlook for the market.  Even Warren Buffett, hailed as one of the most disciplined and informed real estate investors of all time admits to being confused by the current market trends.

Acquiring a mortgage in the post housing crash US market can be challenging for many Americans, particularly young first time buyers.  But as was revealed National Investment Center for Seniors Housing and Care in Chicago, even the most credible applicants are struggling to refinance their loans.

Ben Bernanke is the former Chairman of the Federal Reserve, who was succeeded by Janet Yellen earlier this year on February 3.  A homeowner with credentials like Bernanke would seemingly qualify for refinancing without much hassle.