Economy

Mortgage rates set another record low, but borrowers take a step back

Record low mortgage rates are clearly not as impressive as they used to be. Even with another new low set last week, mortgage application volume decreased 5.1% from the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. Demand is still considerably higher for refinances and purchase applications than it was a year […]

Economy

Fed’s Mester says ‘downside risks’ to economy on the rise

Cleveland Federal Reserve Bank President Loretta Mester poses during an interview on the sidelines of the American Economic Association’s annual meeting in San Diego, California, January 3, 2020. Ann Saphir | Reuters Cleveland Federal President Loretta Mester called Wednesday for more help from Congress and said the central bank stands at the ready to provide […]