Powell’s Grim Coronavirus Warning Likely to Make Mortgages Even Cheaper
Yahoo! Finance, May 13, 2020–Doug Whiteman
Federal Reserve Chairman Jerome Powell is warning that the economy is in for a slow and uncertain recovery from its coronavirus recession — and that “lasting damage” is a possibility. With mortgage rates looking very cheap, applications for mortgage “purchase loans” — to buy homes — surged 11% last week, the Mortgage Bankers Association reported.