Bernanke Housing Rebound May Hinge on Access to Refinancing

Federal Reserve Chairman Ben S. Bernanke can’t go it alone when it comes to reviving the U.S. housing market.

Fed policy makers, who started a two-day meeting today, are considering buying mortgage-backed securities to push down borrowing costs and help homeowners refinance their debt. That would reduce monthly payments, freeing up cash for other purchases that could spur the economy and reduce unemployment, Fed Governor Daniel Tarullo said Oct. 20.