Powell and the Fed just did their part to keep mortgage rates low

Though the economy is strengthening now, after the hammering it took from COVID-19, the Federal Reserve says it’s not ready to end the pandemic-fighting policies that have contributed to today’s super-low mortgage rates.

Fed Chairman Jerome Powell (pictured) and his central bank colleagues announced on Wednesday that they’ll keep holding a key interest rate near zero, and will continue to buy Treasury bonds and mortgage-backed securities to help the economy.