Big news! Title Source is about to make a big difference in downtown Detroit. Make sure to check back here at 9:15 a.m. ET Wednesday to watch a live webcast of Title Source’s exciting press conference in Detroit’s Cadillac Square Park.
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HARP 2.0 – Markets and Musings With Chief Economist Bob Walters
In the first of a biweekly video series we’re calling Markets and Musings, which can be found in the Quicken Loans Press Room, Quicken Loans Chief Economist Bob Walters lays out the key timing of the HARP 2.0 program.
M@dison Building Opens and it’s a Gem!
Today, we officially took the wraps off the M@dison building, an entrepreneurial hub of creative and technology companies committed to ”WEBward” Avenue — a digital and web centered corridor of growth and activity.
Market Update – U.S. Stocks Boosted By Weaker Dollar, Global Interest-Rate Hikes
U.S. stocks were boosted by a weaker dollar after a pair of global interest-rate hikes. Mortgage bonds are currently higher from yesterday’s close on speculation that the Fed will announce a new program of asset buying to boost the economy at the end of their two day meeting, which begins today.
Market Update – Treasuries Up After U.S. GDP Grows 2%
Treasuries opened up this morning and then jumped up more following the morning’s GDP report. The report, which is one of the Fed’s preferred inflation measures, increased less than forecast and added speculation that they will be boosting purchases of long-term assets. Also, today’s October consumer confidence report from the University of Michigan is expected to rise.
Market Update – Investors Raise Concerns Over QE2
Treasuries and mortgages were lower on Wednesday as questions were raised surrounding the size of the Fed’s rumored quantitative easing. Today, mortgage bonds are higher as the Fed asked bond dealers how an asset purchase will influence yields, encouraging speculation that policy makers remain open to large purchases in order to spur the economy.
Market Update – Sixth Day of Decline in Bond Market
Treasury and mortgage bonds fell for a sixth straight day on Tuesday. Today’s September durable goods orders report was expected to show an increase of +2.0%, reversing the -1.5% decline in August. The actual number came in stronger than expected at +3.3%. This has added further pressure to bond prices.
Market Update – Negative Yield on TIPS Shows Faith in Fed
Yesterday, treasuries took a dive following the 5 year TIPS (inflation-indexed treasuries) auction and have continued falling ahead of today’s 2 year Treasury note auction. The TIPS auction resulted in a negative yield for the first time in U.S. history. This means that investors are willing to pay the government for the privilege of having the Treasury keep their principal safe.
Market Update – Dollar Falls Following G20 Talks
The dollar weakened after the Group of 20 nations agreed over the weekend to avoid “competitive devaluation” of their currencies. In other news, Treasuries are higher this morning ahead of the home sales and manufacturing data. Some of the key releases slated for the week include the new and existing home sales reports, consumer confidence and GDP. Also, the Treasury is scheduled to auction another $109 billion this week.
Market Update – Euro Posts Modest Gains Against Dollar
The euro posted a modest gain against the dollar Friday after a survey reported sentiment among German businesses improved to a 3½-year high, allaying some lingering fears over an impending euro-zone slowdown. In other news, Philadelphia Fed President Plosser will speak on regulatory reform later today.
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