The Federal Reserve Bank of Cleveland announced Wednesday that it has launched a search for a president and CEO to succeed Loretta Mester, whose tenure will conclude on June 30, 2024, in accordance with Fed mandatory age and length-of-service policies. Mester has been president since 2014. The Cleveland Fed has formed a search committee and retained a search firm to find Mester’s successor.
Mortgage rates rise
The rate for a 30-year fixed-rate mortgage was 6.72% this week. The rate for a 15-year fixed-rate mortgage was 5.86%.