There is “a very good chance” that President Donald Trump will announce his pick to lead the Federal Reserve before Christmas, according to the Cabinet official leading the search process. Current Fed Chair Jerome Powell‘s term will expire in May, and Trump’s early announcement of Powell’s successor could influence interest rates, including mortgage rates, by … Read more
Mortgage rates climbed on Thursday after four straight weeks of declines as markets adjusted their expectations following Federal Reserve Chair Jerome Powell‘s remarks on the likelihood of future rate cuts. The average rate on 30-year fixed home loans increased to 6.22% for the week ending Nov. 6, up from 6.17% the week before, according to … Read more
President Donald Trump now has a short list of five final candidates to replace Federal Reserve Chair Jerome Powell, and his ultimate selection will have major implications for the housing market and the broader economy. Although Trump has repeatedly threatened to fire Powell, whom the president himself appointed during his first term, Powell seems destined … Read more