Many Americans don’t know what kind of mortgage they have or what their current interest rate is. Do you? Find out if now is the right time for you to refinance your mortgage.
The Fed showed their concern last week over a potential stalled economic recovery when they said that they would continue buying treasuries in an effort to keep rates low. Some of the key economic releases for the week include the $107 billion of Treasury auctions, Wednesday’s housing data and Friday’s GDP.
Experts suggest the struggling economy translate to an ongoing low rate environment for would-be refinancers. But the resulting volume of demand has led some lenders to increase the cost to consumers.
It’s official. Quicken Loans has started the trend of companies relocating to Detroit. Could this mean Michigan’s economy has an upturn in it’s future? From [...]
Investors moved money into the safety of U.S. debt Thursday as initial jobless claims hit a nine month high and Philadelphia factory activity contracted in August. There is no economic date due for release today.
Positive economic news out of Germany regarding increasing growth forecasts was overshadowed by the weekly jobless claims data. It showed that applications for unemployment benefits in the U.S. unexpectedly increased to the highest level since November. This is increasing concerns that the economic recovery is faltering.
Consumers know a good deal when they see it. Mortgage rates are low, and applications are up!
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?