Lower interest rates cause a jump in mortgage refinancing

PGV headshot 2016

By: Pierre Villere

As I have been saying for months now, the fear of a stalling economy coupled with the stock market correction in the Fall of 2018 shook up Federal Reserve Chairman Jerome Powell and his fellow Board Governors, and they made public pronouncements that the Fed would pause any rate hikes for the foreseeable future. Shortly thereafter, the Fed came back and added that they were open to considering a cut in rates depending on the economic metrics they monitor to guide them in those decisions.

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