Mortgage application volume fell sharply to 7.1 percent for last week based on a survey from the Mortgage Bankers Association's latest report ending October 12, 2018, still the data did not factor in the Columbus Day holiday. Home loan refinance applications were down 38.1 percent lower than a year ago and fell 39.0 percent from the week before. Rates have incrementally moved … [Read more...]
According to the most recent survey, volume is down for mortgage applications
For the week ending October 5, 2018, Mortgage applications moved down 1.7 percent from the previous week, based on data from the Mortgage Bankers Association's Weekly Mortgage Applications Survey. The Market Composite Index indicator, measures mortgage loan application volume, that shows the decrease to 1.7 percent on its seasonally adjusted base from one week earlier. On the … [Read more...]
With rates on the rise, Charles Evans says, the Federal Reserve must plan for the next downturn
According to a central banker, this is the best time to find the best means to tackle the next downturn as the economy of the United States is getting stronger with the inflation level getting close to the two percent target of the Federal Reserve, as the steady rate increases of the Fed is likely to have subtle impact on growth in the latter part of the coming year. In his … [Read more...]
During a live conference Canada has a plan for rising rates and high debt
The economy of Canada will face a significant risk in the next three years as indebted consumers will respond to higher interest rates, this fact is made available by economists from three of the largest financial institutions in Canada. According to Frances Donald, the head of macroeconomic strategy at Manulife Asset Management, she said the risks in the housing market is … [Read more...]
For the fifth time Bank Indonesia raises rates to contain currency
For the fifth time since May, the central Bank of Indonesia has increased its benchmark interest in an attempt to protect the rupiah from being affected by emerging markets globally. Based on the predictions of the larger part of the 37 economists interviewed in a Bloomberg survey, the seven-day reverse repurchase rate was increased by 25 basis points to 5.75 percent. Though, … [Read more...]