Interest Rates

Fed Governor Bowman Says She Expects More Rate Hikes

Federal Reserve Governor Michelle Bowman said on Tuesday that she expects the central bank will have to hike rates further to bring inflation down to its two percent target. “My baseline economic outlook continues to expect that we will need to increase

Michelle Bowman, governor of the U.S. Federal Reserve, speaks during a Fed Listens event on "Perspectives on Maximum Employment and Price Stability" at the Federal Reserve in Washington, D.C., U.S., on Friday, Oct. 4, 2019. Federal Reserve Chairman Jerome Powell said that the U.S. economy is in a good place though it …

Refi Mortgage Demand Surges 13.2% Despite High Rates

Applications for refinancing mortgages unexpectedly surged last week despite rising interest rates. The Mortgage Bankers Association (MBA) said that overall mortgage applications rose 5.4 percent last week. Purchase mortgage applications rose 2.3 percent and refinancings jumped 13.2 percent. The burst

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