Reuters, Apr. 24, 2016–Spicer, Jonathan; Saphir, Ann
Federal Reserve policymakers are expected to hold interest rates steady when they meet this week, but may tweak their description of the economic outlook to reflect more benign conditions, leaving the path open for future rate rises.
TechCrunch.com, Apr. 24, 2016–Saklecha, Akhil
Technology has enabled radical changes in how and where people invest in real estate. The old adage that real estate investing is a local business no longer holds true.
Wall Street Journal, Apr. 21, 2016–Buell, Todd; Hannon, Paul
The European Central Bank stands ready to use “all instruments available,” including further cuts in all its interest rates, to ensure the inflation rate returns to its target, ECB President Mario Draghi said Thursday.
Washington Post, Apr. 21, 2016–Orton, Kathy
Mortgage rates were flat this week, continuing to hover at lows not seen in the past three years.
Reuters, Apr. 21, 2016
Home resales rebounded more than expected in March as supply improved, suggesting the housing market recovery remained intact despite signs that economic growth probably stalled in the first quarter. The Mortgage Bankers Association showed mortgage applications last week rose to their highest level in nine weeks as interest rates on 30-year fixed-rate mortgages hovered at their lowest point in more than a year.
NBC News, Apr. 21, 2016–Cepeda, Esther J.
Arvielo started in the mortgage industry at age 16 and eventually went on to transform New American Funding into a national mortgage lender and servicer that funds more than $900 million in home loans each month.
HousingWire, Apr. 21, 2016–Gaffney, Jacob
The common view that nonbanks are taking over the mortgage space from the big banks in a meaningful way is being muted by a harsh-reality report from Moody’s Investors Service.
National Mortgage News, Apr. 21, 2016–Finkelstein, Brad
The company’s results were affected by the costs related to shutting the delinquent loan services business.
HousingWire, Apr. 21, 2016–Lane, Ben
The DOJ announced Wednesday that Benjamin Wagner, who served as the U.S. Attorney for the Eastern District of California and spent five years as a co-chair of the Mortgage Fraud Working Group of the President’s Financial Fraud Enforcement Task Force, is resigning at the end of April.
Reuters, Apr. 21, 2016–Mutikani, Lucia
The number of Americans filing for unemployment benefits unexpectedly fell last week, hitting its lowest level since 1973, suggesting an apparent sharp slowdown in economic growth in the first quarter could be temporary.
