Quicken Loans founder and chairman, Dan Gilbert welcomes team members to their new home in the Compuware Building. There’s no doubt that Quicken Loans move [...]
The Fed bought its first $2.5 billion of Treasuries yesterday after announcing that it would begin purchasing government debt using funds from maturing mortgage bonds that it holds. The expectation is that the Fed will continue to purchase Treasuries through mid-September. In economic news this morning, the MBA mortgage application index report showed that applications rose 13% last week, with refinance activity leading the number at an increase of 17%.
The goal of reform is to stabilize the overall health of the nation’s housing market. But what shape will reform take, and how will this affect you?
The Treasury Department will hold a meeting today to discuss the mortgage market and the future of Fannie Mae and Freddie Mac. There’s growing concern that the government may interfere with the markets which could devalue mortgage bonds. This uncertainty, along with the Fed saying they will buy Treasuries, not mortgages, has caused mortgage bonds to sell-off today.
Planning a family trip? Consider renting a vacation home. A vacation home can offer many benefits over the traditional hotel stay.
Web-based financial companies settle into 250,000 square feet of custom-designed space in Detroit’s emerging technology district recently tagged “WEBward Avenue” Detroit, Mich. – Aug. 16,2010 [...]
Mortgages are up nicely this morning following last week’s data which pointed to a slowdown in economic growth. Some of the key economic releases for the week are the July housing starts and building permits, weekly jobless claims, and the August Philadelphia Fed business index. This morning, the August Empire manufacturing index expanded less than forecasted. This index has been above the expansion/contraction level of zero for the last year, indicating that the New York area is still in expansion mode.
Mortgages have given back their small gains this morning following the CPI report which showed that the cost of living in the U.S. climbed last month for the first time in 4 months. Hopefully, this will ease concerns of a slowdown in growth and deflation. Later this morning the August U.S. consumer confidence report will be released.
Patios and decks can be great outdoor retreats for homeowners. Which one should you choose? We take a look at the pros and cons of both.
Yesterday, Treasury prices spiked higher as economic growth forecasts continued to be revised lower. In early trading today, mortgage bonds are trading lower. Today’s weekly jobless claims showed an increase in claims to 484 thousand, which is worse than expected. Continuing claims are running at 4.452 million.