You’ve likely heard many times over the past decade that the Federal Reserve has increased the fed funds rate. While this news may give you the urge to yawn, it’s important to take note because a rise in the fed funds rate could mean serious changes in how much you pay for your mortgage […]
BY JANN SWANSON It appears that, while Americans are generally upbeat about the economy, housing, and their own financial fortunes, they have a little difficulty maintaining those sentiments. Fannie Mae said today that its Home Purchase Sentiment Index (HPSI) reversed direction again in September, falling 0.3 point to 87.7. The downturn did not erase the […]
BY JANN SWANSON The availability of mortgage credit at least as measured by the Mortgage Bankers Association’s (MBA’s) Mortgage Credit Availability Index (MCAI) pulled back in September, with the government component of the index falling to the lowest level in four years. The MCAI registered 182.1 at month’s end, an 0.8 percent decline. An increase […]
It is unusual for the monthly employment report to be released on the first day of the month. Friday, the first day of June, was an exception. Logically, you would think that data released this early would be subject to a higher level of revisions, but we have no statistics to support that theory. What […]
Recent changes in lending rules have made your credit score even more important to your long-term economic health. Mortgage, credit card, auto and other lenders are now charging a higher rate for lower credit scores. Someone may now pay more for insurance or rend based upon their score. What does this mean? In general, America’s […]
As we approach December, we can see that we are in for a busy month with regard to the economy. With the recovery continuing from the Hurricanes, the Federal Reserve Board’s Open Market Committee will also be meeting with the consensus pointing to another increase in short-term interest rates. Outside of major shocks, the only […]
Sure, the stock market has risen for over eight years. But the run which started in October off 2016 is quite extraordinary, to say the least. Usually when bull markets get older, they fluctuate and run out of steam, but this one seems to have gotten quite a second wind. The question is — where […]
If you need a kick to start saving more for retirement, here’s a statistic that should light a fire under you. A couple retiring this year will need an estimated $275,000 to cover health care costs in retirement, according to Fidelity. That’s a 6% increase over last year. Of course, it’s a ballpark number. The […]
The stock market shined this past week with another show of resiliency. The ability to bounce back after two huge natural disasters hit was quite impressive — even as the Korean situation continued to fester. By the end of the week, stocks had healthy gains. Meanwhile, long-term rates moved up as the stock market rallied. […]
Analysis reports on refinancing by Freddie Mac have shown that during the fourth quarter of 2013, the refinance share of applications averaged 56% in its monthly refinance survey. But its economists foresee a drop in refinances to 38% this year. Many homeowners who refinanced through Freddie Mac in 2013 have been choosing fixed rate mortgages […]