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.
Treasury prices took off yesterday after the FOMC meeting and have risen again this morning. The Fed announced new stimulus measures in an effort to jump start the stalled U.S. economy. The Fed is planning on reinvesting principle payments from their mortgage backed securities back into Treasuries. In other news, the June trade deficit report came in unexpectedly wider to almost $50 billion.
The Federal Open Market Committee (FOMC) announced that it will again hold its Fed Funds rate at the 0—0.25 percent range. Read on for further analysis from Quicken Loans Chief Economist, Bob Walters.
You probably already know that solar energy is good for the environment – but did you know that it’s good for your wallet too?