This was supposed to be the year that Herb Harrison found a newer, bigger home to replace his current house in Framingham, Massachusetts. Then, in May, mortgage rates began to rise and he put his hunt on hold.
Business is booming at Beau Boeckmann’s Ford showroom in southern California, with buyers snapping up Fusion sedans they compare to Aston Martins. Just don’t ask how the government shutdown might influence sales.
Freddie Mac failed to go after foreclosed homeowners who owed more than $4.6 billion on their government-guaranteed loans, passing up the chance to seize second homes and cars from people who defaulted on their mortgage payments.
Bruce Kasman, chief economist for JPMorgan Chase & Co. in New York, and Diane Swonk, chief economist for Mesirow Financial Inc. in Chicago, said the dissent by Federal Reserve Bank of Chicago President Charles Evans may reflect other members’ views on the Federal Open Market Committee.