Mortgage News | Quicken Loans

Quicken Loans Capital Markets Update – Unemployment Rate Above 10%

Fri, 06 Nov 2009 00:00:00 -0500

Treasuries are up this morning after the unemployment rate went above the 10% level for the first time since 1983, underscoring why Fed policy makers pledged to keep interest rates low for an “extended period”. Payrolls also fell by 190,000 workers last month, which was higher than the median forecast of economists surveyed.

First-Time Home Buyer Tax Credit Passed By Congress

Fri, 06 Nov 2009 00:00:00 -0500

The first-time home buyer tax credit is as good as extended, as yesterday Congress gave the final approval to legislation extending and expanding the tax credit. According to Bloomberg, the House passed this bill with a 403-12 vote. The 12 members of the House who voted against the bill were Republicans. The Senate also approved the bill 98-0, so now the final approval lies in the hands of President Obama. It is highly likely the President will sign this bill as we’ve written about it here, that the administration supports this extension.

5 Most Obnoxiously Rich Celebrity Homes

Fri, 06 Nov 2009 00:00:00 -0500

Just like Lady Gaga’s hit song: Paparazzi, we’re absolutely fascinated by celebrities. Maybe it’s the insane wealth that most of us will never achieve, or the seemingly glamorous lifestyles, but we just can’t seem to get enough of celebrity news. So here are 5 obnoxiously rich celebrity homes to continue to fuel our addiction. Enjoy.

Quicken Loans Capital Markets Update – Low Interest Rates Continued for “An Extended Period”

Thu, 05 Nov 2009 00:00:00 -0500

Yesterday’s FOMC statement expressed some optimism that the economic recovery is gaining strength. However, the statement was also filled with concern citing that household spending remains constrained due to high unemployment, show income growth, tight credit and lower household wealth.

10 Disadvantages to Renting a Home

Thu, 05 Nov 2009 00:00:00 -0500

We all know that renting a place, whether it be a house or apartment, is clearly more expensive than buying a home. After all, the thousands of dollars you pay in rent could easily go towards actual ownership of the place. However, beyond just the basic financial advantages, there are also hassles that you may not foresee or ever think about with renting a place. Here are 10 disadvantages to renting and some reasons why I decided to become a homebuyer.

Quicken Loans Capital Markets Update – Fed Expected to Keep Interest Rates Low

Wed, 04 Nov 2009 00:00:00 -0500

Treasuries ended the day lower on concerns about the size of the Treasury refunding and as the FOMC statement weighed on the market. They are down again this morning on further speculation that the Fed will signal the economy is improving and maintain its commitment to keep interest rates low for an extended period.

Fed Funds Rate Remains at Low Level

Wed, 04 Nov 2009 00:00:00 -0500

The Federal Open Market Committee (FOMC) announced today that it will again hold its Fed Funds rate at the 0—0.25 percent range. This is the rate at which banks loan money to one another, and impacts rates for adjustable rate mortgages and home equity lines of credit.

5 Famous Historic Homes You Need to See

Wed, 04 Nov 2009 00:00:00 -0500

Older homes are often thought of as having charm that can’t be beat by the sleek modernism of contemporary today. Preservation societies spring up in old neighborhoods, hoping to keep a piece of the past to freeze in time. We look back at intricately carved woodwork, and marvel at the level of detail involved in each piece, from photo frames to staircase banisters. Antique collectors appreciate the level of craftsmanship that simply cannot be found anywhere today. So, in honor of the upcoming holidays – particularly Thanksgiving, here are the top 5 houses that not only have a unique beauty, but also an incredible history that plays into the whimsical charm of old homes.

Quicken Loans Capital Markets Update – Bank of England Provides 2nd Bailout

Tue, 03 Nov 2009 00:00:00 -0500

Equities are lower this morning partly on news that the Bank of England is providing a 2nd bailout to 2 major banks. The FOMC begins a 2-day meeting on monetary policy today and the market will anxiously await the FOMC decision and statement on Wednesday afternoon. In terms of economic releases today, September Factory Orders are expected to show a 0.9% increase.

Quicken Loans Capital Markets Update – Market Awaiting Fed’s Decision on Low Interest Rates

Mon, 02 Nov 2009 00:00:00 -0500

On Tuesday, the FOMC (Federal Open Market Committee) begins a 2-day meeting on monetary policy and the market will pay close attention to any change in language regarding the timing of future rate hikes. Many feel that the Fed will retain the words “extended period” regarding low interest rates. If this does ring true, it will certainly be good news for home buyers, or just homeowners looking to refinance.