The day ended in very abnormal fashion, and herein lies its silver lining. During an event that was unrelated to today’s Fed Minutes release, Bernanke made a brief speech and fielded questions from reporters. The Chairman characterized the unemployment rate of 7.6% as potentially overstating the health of the economy and that if markets tightened […]
Mortgage applications decreased 11.7 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending June 28, 2013. The Market Composite Index, a measure of mortgage loan application volume, decreased 11.7 percent on a seasonally adjusted basis from one week earlier. On an unadjusted […]
The first quarter of 2013 saw a rise in the U.S. economy, with an annual rate approaching nearly two percent. Last year’s fourth quarter saw merely a 0.4 percent increase. These numbers come courtesy of the Mortgage Bankers Association’s First Quarter Databook for 2013.
Veros Real Estate Solutions has announced that San Francisco and other metro areas in California are poised for the country’s strongest levels of appreciation in the coming year. The forecast also reports select markets in the Northeast will continue depreciation trends, though these trends are lessening. This is the conclusion of the company’s VeroFORECAST real […]
Driven by rising home prices and growing demand, the U.S. housing recovery is well underway, concludes The State of the Nation’s Housing Report, released by the Joint Center for Housing Studies of Harvard University. While still at historically low levels, housing construction has finally turned the corner, giving the economy a much-needed boost. But even […]
Mortgage rates have had a bad week and today was even more destructive than the previous two days. Taken together, this is the worst week for mortgage rates on record. Today is one of two times in the past 10 yrs where the average borrowing rate for top tier scenarios moved up by at least […]
U.S. stocks and Treasuries fell while the dollar rallied as Federal Reserve Chairman Ben S. Bernanke said the central bank may reduce the pace of bond purchases later this year as economic risks subside.
In its second quarterly report of 2013, the UCLA Anderson Forecast’s outlook for the United States says that despite “improvement in both GDP and key economic sectors, the overall growth falls short of the rates required for the national economy to truly recover from the most recent recession.
Under current economic conditions, investors and lenders should expect defaults on loans currently being originated to be six percent higher than the average of similar loans originated in the 1990s, due solely to the local and national economic environment. That’s a key finding of the latest UFA Mortgage Report by University Financial Associates of Ann […]
Nice rally in MBS today as the Fed ramps down tapering rhetoric.