Make the economy boring again
November 08, 2018
Some things might change with the American economy because of the midterms, but we can always count on the good ol' Federal Reserve. The Fed has been meeting this week to discuss interest rates and the state of the economy. While interest rates held steady this month, an increase is anticipated in December. But what about housing interest rates? The average rate on a 30-year mortgage hit 4.94 percent this week, a near seven-year high. Now, the housing market is cooling off — new data is showing a further decline in mortgage applications. We talk to experts about what that means for the economy. Also, the deficit hawks are about to get louder. Talk of the federal deficit was rather quiet during the midterm elections, but with Democrats as the majority of the House, we're going to hear a lot more about it. Plus: a check-in on Big Scooter. Yes, we said it. Big Scooter. It's a multibillion-dollar industry.