Quicken Loans Capital Markets Update for July 28, 2009
This morning’s release of the S&P/Case-Shiller home-price index showed the first increase in US home prices since 2006. The index, which compiles price information from 20 major US cities, rose 0.5 percent in month-over-month comparisons of May to April. Some economists cite the increase as further evidence that housing markets are stabilizing and the recession is bottoming out.
In other economic news, the Treasury continues its refunding operation today with $42 billion of 2-year T-notes. Foreign interest has been high in recent auctions for these notes, and the markets will be watching this activity closely as the treasury continues to auction off huge amounts of debt.
So far this morning, treasuries and mortgages have opened higher as stock index futures sag.
Other economic releases to watch this week include MBA Mortgage Applications and Durable Goods Orders tomorrow, Jobless Claims Thursday, and the GDP announcement Friday morning.
Stay tuned to Quicken Loans mortgage news for more market updates, mortgage rates and mortgage news!
Related Information:
- Get today’s mortgage rates.
- A credit report is always free at Quizzle.
- Buying a home? Find out what you need to know to get started from our Home Buying Center.
3 Ways to Contact Us
- Call (800) 687-0522
- Chat Online Now!
- Get Started Online
WE WANT YOUR FEEDBACK