Bernanke signals U.S. withdrawal from home-mortgage market

02/11/2010 | Los Angeles Times (tiered subscription model)

Federal Reserve Chairman Ben Bernanke, in a statement originally intended for a congressional hearing, stood by the central bank's plan to withdraw support from the residential-mortgage market. The Fed's mortgage-backed securities purchases are scheduled to end next month. Lawrence Yun, chief economist for the National Association of Realtors, said the U.S. government's policy supporting the housing market has succeeded. "Policymakers should be cautious about how soon to end it," Yun said.

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