The real estate market arguably is one of the most susceptible to the effects, variations and pull of economic interactions. With a rise in national economic fortune comes an almost directly proportional increase in real estate transactions from mortgage to listings etc. Thus when it has to do with mortgages, the story is almost a reflection of the national economic story or … [Read more...]
Cleveland Federal Reserve President Loretta Mester higher rates are likely later this year
Original Source Cleveland Federal Reserve: According to the words of Cleveland Federal Reserve President, Loretta Mester, on Tuesday, there is a need for the United States Federal Reserve to increase the interest rates in 2019 but raised concerns that it could lead to an end of its concerted efforts to reduce its significant bond portfolio before the end of the year. For … [Read more...]
Interest rates hit 8-year high while Mortgage applications drop to 4-year low
According to the data released from the Mortgage Bankers Association Weekly Mortgage Applications Survey for the week ending November 2, 2018, the mortgage applications reduced 4.0 percent from a previous week. The Market Composite Index, which is a gauge of mortgage loan application volume, reduced 4.0 percent on a seasonally regulated basis from one week earlier to the … [Read more...]
Australia’s key rate held at 1.50 percent as the economy has faster growth and less jobless
The economy of Australia is performing incredibly well according to statements by Reserve Bank of Australia Philip Lowe, Governor Monetary Policy Decision. The Gross Domestic Product has been increased by 3.4 per cent while the unemployment rate has reduced to 5 per cent over the past year; this is the lowest point in six years. However, it is important to note that the … [Read more...]
Boston Fed’s Rosengren: Stronger U.S. economy could justify ‘restrictive’ rates
When the President of Federal Reserve Bank, Eric Rosengren made a case for a strict monetary policymaking a switch from low-interest rates, he said this is the best time to begin the process of moving towards standard rates with the presence of five percent unemployment, inflation, and weak growth. In the next two years, he collaborated with his contemporaries to form a … [Read more...]
As Fannie, Freddie start a second decade deferred, mortgage rates move up again
For the second week, there is an increase in the mortgage rates sustained by a selloff in the bond market, as housing is daunted with uncompleted work in the mortgage market. According to the weekly survey of Freddie Mac, the 30-year fixed rate mortgage averaged 4.54% in the Sept. 5 week by two basis points. The average of the 15-year fixed rate mortgage is 3.99%, an … [Read more...]
Bank of Canada Keeps Benchmark Rate Unchanged
The interest rate was maintained at 1.5% by the Central Bank, an indication that the NAFTA talks could influence the pace of increases in the future. On Wednesday, the Bank of Canada kept its standard interest rate stable at 1.5% as there is a possibility that the North American Free Trade Agreement could have a significant impact on the increases of future rates. In a short … [Read more...]
Turkey’s Lira: words not sufficient to Raise Interest Rates
The Turkish lira may become viable after the central bank gave signs higher interest rates were underway, but some investors are concerned that any effective relief will require an extreme hike that it is sure to deliver. Further, it is on record that even after 700 basis points of monetary pull back since December; consumer-price growth has increased for five months, … [Read more...]
“The time for rates hike not right,” Bullard to Federal Reserve Bank.
The Federal Reserve Bank of St. Louis President James Bullard admonished management members to halt raising rates again, however, Bullard appeared resolved that a move higher this month is pretty much a done deal. The bank president while speaking in an interview on Fox Business Network on Tuesday complimented the economy saying: “we’ve got a pretty good policy right now and … [Read more...]
Rising ECB Rates? No problem for EU Finance Ministers!
Europe’s finance ministers need not lose a sleep over the fact that European Central Bank’s exit after years of loose monetary strategy will provoke financial upheavals, an upcoming study says. According to Daniel Gros the director of the Brussels-based Center for European Policy Studies, on his opinion to be presented at a meeting with central bankers and finance chiefs in … [Read more...]