Federal Reserve ex-chairman Ben Bernanke: I got turned down for mortgage refinancing

The mortgage sector really is still very tight — as revealed by this new anecdote from none other than former Federal Reserve Chairman Ben Bernanke himself:
The former Federal Reserve chairman, speaking at a conference in Chicago, told moderator Mark Zandi of Moody's Analytics Inc. — "just between the two of us" — that "I recently tried to refinance my mortgage and I was unsuccessful in doing so."
When the audience laughed, Bernanke said, "I'm not making that up."
"I think it's entirely possible" that lenders "may have gone a little bit too far on mortgage credit conditions," he said. [Bloomberg]
Bernanke's overall point is that the housing market has not picked up as much as the rest of the economy following the 2008 financial crisis, and that credit is still really tight.
But you would at least think that all of that quantitative easing could've won him some more friends.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
-
Dianaworld: the 'cultural phenomenon' behind the People's Princess
The Week Recommends 'Very fine' book examines the cultural groups who once admired her, and the legacy she left behind
-
Earth roasts on 'Hot Ones: Climate Edition' | May 15 editorial cartoons
Cartoons Thursday's editorial cartoons feature trickle-down economics, Pope Leo XIV's music choice, MAGA's reaction to the 'woke Pope', Donald Trump's Amazon wishlist, and the job market for 2025 college graduates.
-
Thawing permafrost unleashes toxic legacy of mining
Under the Radar Rising temperatures could release huge levels of toxic materials from sealed-off mines into waterways
-
Nobody seems surprised Wagner's Prigozhin died under suspicious circumstances
Speed Read
-
Western mountain climbers allegedly left Pakistani porter to die on K2
Speed Read
-
'Circular saw blades' divide controversial Rio Grande buoys installed by Texas governor
Speed Read
-
Los Angeles city workers stage 1-day walkout over labor conditions
Speed Read
-
Mega Millions jackpot climbs to an estimated $1.55 billion
Speed Read
-
Bangladesh dealing with worst dengue fever outbreak on record
Speed Read
-
Glacial outburst flooding in Juneau destroys homes
Speed Read
-
Scotland seeking 'monster hunters' to search for fabled Loch Ness creature
Speed Read