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Jobless Claims, Trade Balance, Bond Auction
Ahead of weekly labor data and the monthly trade balance equity futures are pointing higher.rnrnDow futures up 29 points to 10,359 and S&P 500 Futures up 4.25 points to 1,100. Meantime, the US dollar is flat, WTI Crude oil is up 38 cents to $71.05 per barrel, and Spot Gold is trading $4.10 lower to $1,124.50.
Fed Governor: Foreclosure Stabilization Requires Tailored Strategy
Federal Reserve Governor Duke says the downturn in housing has affected communities in many ways, but the effects were largely related to the underlying economies of each. Therefore, a stabilization strategy that might work in an industrial area with high unemployment might not work in a suburban area where employment is relatively stable.
Mortgage Apps Higher After Holiday. Refinances Drive Demand
This week's report indicated an increase in demand for new mortgage loans. The Market Composite Index rose 8.5%, the purchase index was 4.0% higher, and the refinance index jumped 11.1%. Refinances accounted for 74.4% of loan application activity this week, up from 72.1% in previous release. It appears that the general focus on the Thanksgiving holiday prevented borrowers from submitting new loan applications in the previous week, however, because mortgage rates had testing record lows, borrower interest was high and demand carried over into this week's data.
Latest Articles
By John Gittelsohn August 24, 2020, 4:00 AM PDT Some of the largest real estate investors are walking away from Read More...
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Published by the Federal Reserve Bank of San FranciscoIt was recently published by the Federal Reserve Bank of San Francisco, which is about as official as you can Read More...