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The Chairman of the Federal Reserve, named Time’s 2009 Man of the Year and whose every word can sputter or spur the U.S. economy, has successfully refinanced his Washington DC townhouse for the second time since 2009.
According to the Wall Street Journal, “Bernanke lives in a 3-bedroom townhouse near the Capitol. It has an appraised value of roughly $850,000, not far from the $839,000 he paid for it in 2004. A public record search shows he owes $672,000 on the home, after refinancing his mortgage twice.”
Bernanke’s refinance was settled in September, just after Bernanke launched Operation Twist, a Fed bond-buying program partly intended to drive down mortgage rates and stimulate the economy. At least the head of the Fed knows how to take advantage of good rates.
According to Zillow Mortgage Marketplace, mortgage rates are down. And in the Washington, DC market, rates averaged 3.68 percent on Dec. 15, below the national average rate of 3.74 percent.
