Current Rate: 2.00%
Next Rate Decision: Aug. 5
Market
Expectations: The OIS implied rate suggests markets are 16% priced in for
a 25bp hike at the next meeting and are pricing in a 41%
chance of a quarter-point hike at the September meeting.
Two Wall Street giants and their investors are betting that one of the
Streets most baffling rules of thumb will prevail as the stock market
prepared to open Friday after two days of a bullish market.
Speaking in an interview with Bloomberg on Friday, Minneapolis Federal
Reserve President Gary Stern (voter) said that the Federal Reserve
can’t wait for the end of the crisis to raise rates.
Mortgage rates dropped throughout last week causing increased activity among Americans looking for a home loan, particularly those seeking to refinance their existing mortgage, according to the Mortgage Bankers Association (MBA).
Though Fannie Mae and Freddie Mac may have silly names, they're all about the serious business.
Delivering comments at the FDIC’s Minority Depository Institutions
National Conference in Chicago, Fed Governor Randall Kroszner said the
Fed’s new rules on mortgages would alleviate pressures
in nearly the entire subprime sector and some other
alternative mortgage markets.
Due to a change in the housing code of New York City,
U.S. housing starts came in above expectations at 1066k in June, a month-
over-month rise of 9.1%, according to data released from the U.S.
Department of Commerce on Tuesday morning. The consensus was looking for
a decline to a level of 960k.
Initial claims for unemployment benefits in the
United States rose much less than expected to 366k in the week ending
July 12, following a slightly revised 348k in the previous week.
Continuing claims fell back 81k to 3.122 million for the week ending July
5, the Department of Labor reported Thursday.
International securities transactions and the Bank of Canada’s
monetary policy report highlight today’s Canadian economic releases as
U.S. markets receive jobless claims and housing starts, followed by the
Philadelphia Fed’s manufacturing report for July.
Sometimes, it's the extra personal touches to your home that motivate buyers to make an offer.
Congress has lifted the conforming loan limits in thousands of counties across the country. The government is allowing mortgage giants Fannie Mae and Freddie Mac to buy more — and larger – loans. And the FHA has rolled out its jumbo loan. So what does it all mean for you? Well, if you’re a homeowner, or even thinking about becoming one, you may just find it’s easier to get approved for a loan.
This morning the Mortgage Bankers Association (MBA) announced that overall mortgage activity, which includes applications for a mortgage to both purchase and refinance a home, increased 3.6 percent last week compared to the week prior.
There are many ways to celebrate the 4th of July while staying environmentally friendly - go green on the 4th!
The proposed housing stimulus package is moving it's way to the White House. But what does it mean for consumers?
This morning the Mortgage Bankers Association (MBA), in its Weekly Mortgage Applications Survey for the week ending July 4, announced that the Market Composite Index, which measures mortgage loan application volume, increased 7.5% from one week earlier.
Buying a home? Learn how to take advantage of free services for home buyers like down payment assistance programs, free real estate services, free credit reports and free mortgage pre-approvals. They're everything you need in this buyer's market.
Learn when, why, how and if you should buy mortgage points when buying a home or refinancing your mortgage. Sometimes it makes great financial sense to buy mortgage points.
Mortgage rates dropped throughout last week causing increased activity among Americans looking for a home loan, particularly those seeking to refinance their existing mortgage, according to the Mortgage Bankers Association (MBA).
Bob Walters, chief economist of Quicken Loans, is interviewed on Sky Radio about the state of the mortgage industry and financial markets. Walters explains how recent changes in credit and mortgages are affecting consumers. He also offers tips to improve credit and qualify for a low-cost mortgage.
A report from Wells Fargo and the National Association of Home
Builders (NAHB) suggests that homebuilders were even more
pessimistic in July as the housing market index fell two points to 16,
creating a new historic low in the 22-year index.