Federal Reserve officials expect residential sales will "remain weak" now that the homebuyer tax credit has expired, according to just-released minutes of the June 22-23 Federal Open Market Committee (FOMC) meeting.

The housing sector appeared "strong" through mid-spring due to the temporary effects of the tax credit, the FOMC minutes said.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.