Mortgage Daily, Feb. 16, 2017–Sam GarciaMortgage rates have hardly moved over the past three weeks, and at least one forecast suggests that fixed rates might continue to stay frozen.
Category: Top National News
Gone Shopping: Retail Sales Surged in January
USA Today, Feb. 15, 2017–Paul DavidsonAmericans splurged in January as retail sales picked up sharply despite fewer car purchases, and a core reading was strong.
Industrial Production Slips 0.3% in January
Reuters, Feb. 15, 2017–Lucia MutikaniU.S. industrial production fell in January as unseasonably warm weather caused a major drop in utilities output, offsetting gains in manufacturing and mining, the Federal Reserve said on Wednesday.
U.S. Business Inventories up; Sales Gain Largest Since 2011
Reuters, Feb. 15, 2017–Lucia MutikaniU.S. business inventories rose in December and sales recorded their biggest increase since 2011, suggesting that inventory investment would again contribute to economic growth in the first quarter amid strengthening domestic demand.
Consumer Prices Post Largest Gain in Nearly Four Years
Reuters, Feb. 15, 2017–Lucia MutikaniU.S. consumer prices recorded their biggest increase in nearly four years in January as households paid more for gasoline and other goods, suggesting inflation pressures could be picking up.
Mortgage Applications Drop 3.7% as Refinancing Hits 8-year Low
CNBC, Feb 15, 2017–Diana OlickMortgage refinance volume fell to its lowest level since June 2009. “One driver of the drop in volume last week was a sharp decrease in VA refinance applications, which fell more than 17 percent,” said MBA Chief Economist Mike Fratantoni.
More Hurdles Ahead for Foreign Investors
National Real Estate Investor, Feb. 15, 2017–Beth Mattson-TeigIf the U.S. were to introduce substantive policy change and adopt an isolationist stance, that could potentially prompt foreign investors to hit the pause button or take a more wait-and-see approach.
Fed’s Harker Sees Three Interest-Rate Hikes Appropriate for 2017
Reuters, Feb. 17, 2017–Ann SaphirPhiladelphia Federal Reserve Bank President Patrick Harker on Wednesday repeated his view that the U.S. central bank should continue to raise interest rates this year, now that the U.S. economy is mostly back to full health.
Mortgage Delinquencies Among Some Homeowners Just Spiked
CNBC, Feb. 15, 2017–Diana OlickMortgage Bankers Association President and CEO David Stevens, CMB appeared on CNBC to discuss the MBA 4th Quarter National Delinquency Survey.
MBA Welcomes Industry to Dallas Mortgage Servicing Conference
HousingWire, Feb. 15, 2017–Kelsey RamirezMortgage professionals weaved their way through the maze at the Gaylord Texan in Dallas that led to the Mortgage Bankers Association’s national mortgage servicing conference and expo.