When do bankers refi? Fed chair grabs fixed-rate loan

Ben Bernanke knows a good interest rate when he sees it.

The chairman of the Federal Reserve has refinanced the mortgage on his three-bedroom, attached townhome in Washington, D.C. – twice – since 2009.

Most recently Bernanke refinanced on his home in September shortly after the Fed announced “Operation Twist,” which was a rare move by the Fed to publicly vow to keep long-term interest rates low for the next two years.

Bernanke lives in a town house near the Capitol in Washington, D.C., which he paid $839,000 for it in 2004, according to an article in The Wall Street Journal. The home’s appraised value is about $850,000. Bernanke owes $672,000 on his 30-year mortgage.