Banaian; Low Interest Rates to Continue [PODCAST]
St. Cloud State Economist and Dean, School of Public Affairs King Banaian joined me on WJON today. He indicates that he expects our current low interest rates to continue for the next 2 years. He says many people have refinanced their homes and can continue to do so. King says the local housing market continues to do well with homes for sale not staying on the market for very long. He says more and more people are choosing to do home improvements as opposed to travel, concerts or sporting events due to Covid-19.
Shopping Malls throughout the country have struggled in large part due to Covid-19. Banaian says he could see part of the Mall of America closing but not all of it. He says Mall are struggling but many young people continue to go to malls while older individuals have been avoiding them. He says a quick in and out for shopping it happening now.
Gas prices continue are stable sitting just over 2 dollars a gallon. Banaian says that will likely continue.