This MIT economist helps decide when recessions officially begin and end. Here’s why those dates matter

As the president of the National Bureau of Economic Research and a member on the Business Cycle Dating Committee, James Poterba helps determine when a recession officially starts and ends. Why is that important? What do those dates tell us? When the NBER was founded in 1920, its economists mainly studied workers’ income, businesses and capital, said Poterba, who is also an … Read more

Mortgage demand surged after Fed signaled potential pause in rate hikes

Mortgage rates fell slightly last week after the chairman of the Federal Reserve suggested a potential end to a historic string of interest rate hikes. The drop wasn’t substantial, but it was enough to boost demand from current homeowners hoping to refinance their mortgages to lower rates. The average contract interest rate for 30-year fixed-rate … Read more