Federal Reserve's extraordinary stimulus measures aimed at helping the economy rebound from the novel coronavirus pandemic. Rates had been drifting lower since, held down in large part by the U.S. Purchase applications rose 0.6%, hitting the highest level since early July, the MBA said.Īfter hitting record lows at the end of 2020 below 2.9%, mortgage rates climbed in the first part of this year and peaked in the spring. The average contract interest rate for traditional 30-year mortgages was unchanged at 3.03%. The Mortgage Bankers Association (MBA) said on Wednesday its seasonally adjusted market composite index tracking mortgage applications fell 2.4% from a week earlier, reflecting a 3.8% decline in applications to refinance existing loans in the week ending Aug. “If your goal is to have an impact, it’s probably not the way to go.Sept 1 (Reuters) - Mortgage applications decreased last week in step with a drop in refinancing as mortgage rates remained unchanged. “If your goal is simply to maintain your position, it might be an effective strategy,” Colburn said. Newt Gingrich resigned the House speakership amid scandal in 1999, but recovered enough to run for president in 2012, winning the South Carolina Republican primary. President Bill Clinton used a different strategy to survive being impeached during the Monica Lewinsky scandal, opting for contrition and watching much of the political blame for the proceedings ultimately fall on the GOP-controlled House, allowing him to finish his term in a stronger position. The Floridian’s attention-grabbing style has often antagonized both parties, further suggesting that, though his congressional seat is likely safe, he’s unlikely to accomplish much, even within his own party, outside of Trump’s shadow.
Adam Kinzinger on Friday called for Gaetz’s resignation, and the party’s other top leaders have been conspicuous in failing to speak out in their colleague’s defense. The House Ethics Committee said Friday it has opened an investigation of Gaetz. A hearing Thursday revealed that one of his political allies, Joel Greenberg, is working toward a plea deal with federal investigators. But after spending the past several years as one of Trump’s fiercest public defenders, Gaetz’s game plan strongly mirrors the former president’s approach.Īfter a video emerged in the final weeks of the 2016 campaign of him boasting of grabbing women by the genitals, Trump apologized “if anyone was offended” and dismissed the episode as “locker room talk.” He refused calls by some in his own party to leave the presidential ticket and won the election just weeks later.Īs president, Trump would respond to one burgeoning scandal after another by constantly moving ahead, making it harder for the public to linger on one issue for too long, even if that meant stirring up fresh controversy on another topic. Gaetz’s political future remains in question and could fully disintegrate, depending on how the federal probe unfolds.
“Clearly this is a new strategy people are employing in crisis response,” said Brent Colburn, a Democratic strategist and veteran of President Barack Obama’s administration. Rather than humbly step back from public life, they barrel ahead, insisting they did nothing wrong and betting that voters will forget alleged misdeeds once the news cycle eventually shifts. The congressman joins a growing list of politicians from both parties - almost exclusively men - who are defying the traditional response to controversy. Matt Gaetz of Florida has denied the allegations, rebuffed suggestions that he resign and sent fundraising appeals that portray him as a victim of a “smear campaign.” He’s expected to make a high-profile appearance Friday at former President Donald Trump’s Doral golf club in Miami.
Suddenly embroiled in a federal sex trafficking investigation, Rep. WASHINGTON (AP) - The mere whiff of a scandal once unraveled political careers with stunning speed.