Posted To: Pipeline Press

Tom Petty sang, “There’s somethin’ good comin,’ just over the hill, somethin’ good comin’, I know it will. And I’m in for the long run, wherever it goes, ridin’ the river, wherever it goes .” Lenders always walk a knife-edge between wanting good economic times for their customers, and having them qualify, but at the same time knowing that bad times helps keep rates low while hurting credit. In an interview with NPR, Federal Reserve Chairman Jerome Powell, while not an immunologist, said that wearing masks and maintaining social distancing to fight the spread of the coronavirus could deliver major benefits to the US economy . He noted the Fed will need to offer steady support even after the pandemic is over. “We think that the economy’s going to need low interest rates, which support…(read more)

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Source: Mortgage News Daily