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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. 

Segments From this episode

What effects will a cooling housing market have on the economy?

by Amy Scott Nov 8, 2018
The Federal Reserve has been raising short-term interest rates, but long-term borrowing costs have been rising, too. Freddie Mac said Thursday the average rate on a 30-year fixed-rate mortgage rose to 4.94 percent, a nearly seven-year high. Those higher costs are taking a bite out of demand. For example, mortgage applications fell to a four-year […]

Democrats and Republicans prepare to pick their power brokers in the House and Senate

by Kimberly Adams Nov 8, 2018
Decisions on who will lead the parties and the committees will be made soon.

Music from the episode

Los Ageless St. Vincent
Darling Real Estate
Feel Good (feat. Khruangbin) Maribou State, Khruangbin
Tonight Little People

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