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Why Charles Plosser’s Retirement Might Mean Lower Mortgage Rates Next Year

Charles I. Plosser, president and chief executive officer of the Federal Reserve Bank of Philadelphia, today announced that he will retire, effective March 1, 2015 – Federal Reserve Bank of Philadelphia, September 25th, 2014.

That one short sentence, posted quietly last week on the Federal Reserve Bank of Philadelphia website, could have broad implications for mortgage rates next year.

Party Like It’s 1999: US Jobs Growth Recalls Go-Go 90’s

Hiring in the U.S. came in stronger than expected in May, according to a monthly report released today by the Bureau of Labor Statistics(BLS). Employers added 217,000 jobs last month, and the unemployment rate remained unchanged as more workers reentered the labor force.