• Characterized by bright colors, woven fabrics and handcrafted pieces, southwestern-style decorating takes influences from Native American, Spanish and Mexican art. Whether you live out west and want your home to reflect your surroundings, or you simply want to incorporate colorful or handmade items into your existing decor, here are some tips to help you...

    + -
  • A new phenomenon is affecting the mortgage and real estate industries. People who bought a home or refinanced in the last few years have such a ridiculously low mortgage rate that they don’t want to move and have to accept a new mortgage with a higher rate. But the reality is that these people...

    + -
  • This post is for all the gardeners out there! This time of year, we’re excited about combining our love of gardens with our love of prize giveaways. Whether you’re new to the gardening game or have years of experience in the backyard, this contest is for you.

    + -

Market Update – Bernanke Indicates Further Monetary Stimulus

Market Update – Bernanke Indicates Further Monetary Stimulus

The big headline this morning is Ben Bernanke and his statement that additional monetary stimulus may be warranted because inflation is too low and unemployment is too high. The Consumer Prices report showed the cost of living in the U.S. rose less than forecasted, indicating that companies have been unable to raise prices. This also shows the Fed’s inflation goal is falling short yet again. In other economic news, both Retail Sales and manufacturing in the New York region came in higher than expected and bonds are now trading down.

Continue Reading
Quicken Loans Reports 25-Year All-Time Record Closed Loan Production of $3.4 Billion in September 2010

Quicken Loans Reports 25-Year All-Time Record Closed Loan Production of $3.4 Billion in September 2010

Quicken Loans Inc., the nation’s largest online home lender, and among the top-five overall retail lenders in the country, reported its largest monthly closed volume in the company’s 25-year history in September 2010. The Detroit-based mortgage bank closed approximately 15,500 home loans totaling $3.4 billion in loan volume in September. The record month surpassed the previous record of nearly 14,000 closed loans and $3.15 billion in loan volume, which the 50-state centralized home lender achieved just one month prior in August 2010. In addition, Quicken Loans maintained its industry leading closing times by processing nearly 75 percent of its loan closings in 28 business days or less, despite the immense volume that flooded the national Internet-based lender. “Our technology and process-driven home lending platform continues to separate itself from the entire industry with its unparalleled capacity, speed, geographic reach and client experience,” said Dan Gilbert, Founder and Chairman of Quicken Loans. “I am proud of the entire organization and our 4,000-plus brainforce for achieving this amazing accomplishment.” In 2009, Quicken Loans closed a company-record $25 billion in home loan volume, and is projecting to close more than $30 billion in home loan volume in 2010. The company also has significantly increased its retail government lending programs (FHA and VA) closing more than 42,000 loans and $7.5 billion in home loan volume in 2009, which is expected to grow to approximately 45,000 closed home loans and more than $8 billion in closed home loan volume in 2010.

Continue Reading
Market Update – Weekly Jobless Claims Remain High

Market Update – Weekly Jobless Claims Remain High

After initially opening lower, mortgage bonds are currently flat to yesterday’s close. Today’s weekly initial unemployment claims report was released this morning. The expectation was no change at 445k following last week’s -11k drop. The actual number rose to 462k. Weekly claims, however, were expected to be lower by -12k to 4.45 million. The actual number declined more than expected to 4.399 million.

Continue Reading
Quicken Loans and Fathead Officially Sponsor the ALS Association’s Scottsdale ‘Walk to Defeat ALS’

Quicken Loans and Fathead Officially Sponsor the ALS Association’s Scottsdale ‘Walk to Defeat ALS’

2010 walk represents Association’s 25th year in the fight against Lou Gehrig’s Disease Scottsdale, Ariz. – Oct. 13, 2010 - Quicken Loans Inc., the nation’s largest online retail mortgage lender and fifth largest retail lender overall, and Fathead LLC, the leading brand in sports and entertainment graphic products, today announced they will serve as the official sponsors of Scottsdale’s Walk to Defeat ALS, the ALS Association’s annual fundraising event on Sunday, October 24, 2010. This will be the second year Quicken Loans and Fathead have participated in the event. The two companies have pledged to make the 2010 walks in Scottsdale, Detroit and Cleveland — where Quicken Loans has offices — record-breaking fundraisers for their respective ALS chapters. Quicken Loans’ family of companies employs nearly 450 team members in the Scottsdale area. This year’s walk will take place at Scottsdale Stadium, where participants will enjoy the opportunity to walk around the field which is the spring training home of Major League Baseball’s San Francisco Giants. Check-in for the 2-mile walk is at 9 a.m. and the walk begins at 10 a.m. ALS, more commonly referred to as Lou Gehrig’s disease, is a progressive neurodegenerative disease that attacks nerve cells and pathways in the brain and spinal cord. When the cells die, voluntary muscle control and movement dies with them. Each year, 5,600 people in the U.S. are diagnosed with ALS, and every 90 minutes, someone dies as a result of the disease. The mission of The ALS Association is to…

Continue Reading
Quite Possibly Our Best TV Ad Ever – Thanks a Million Giveaway

Quite Possibly Our Best TV Ad Ever – Thanks a Million Giveaway

Ok. I realize this isn’t the “traditional” mortgage news we usually write about here at Quicken Loans. In fact, it’s not mortgage news at all. The real news is that mortgage rates are at their lowest level since 1951. But this is about something else. It’s something we really like and we wanted to share it with our readers. It’s our new commercial for our Thanks a Million Giveaway, where we’re paying off a clients loan in celebration of our upcoming one millionth closed loan. Besides for the commercial being a rather large departure from most of the television advertising we’ve produced, it’s also notable for our using Wayne State University students and facility on the production team. We contracted Wayne State University film professor Marc Ruiz, who assembled a team of students and local Detroit-area professionals for the commercial. They came through for us with flying colors. It’s amazing that these students were actually learning while producing such a world-class finished product. We couldn’t be happier. We hope you enjoy this as much as we do.

Continue Reading