The second half of the year will be slower than the first half, but the economy will not slide back into recession, said Richard Fisher, the president of the Dallas Federal Reserve Bank. In an interview on the CNBC cable television channel, Fisher used the analogy for the US economy as a football team moving up the field. He said the economy had been in its own end-zone but had gotten “some spectacular runs” from inventory growth and business spending on software and equipment.
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The lowest mortgage rates have ever been was around Thanksgiving 2012 when the interest rate for a 30-year fixed-rate mortgage fell to 3.31% (according to Freddie Mac data), but rising panic over the coronavirus could drive rates to lows never seen before. HW+ Premium Content
In this week’s column, HousingWire Columnist Logan Mohtashami responds to presidential candidate Mike Bloomberg’s comments on the financial crisis, providing his own view on how the market crashed and how to keep it from ever happening again.