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Holiday Shortened Work Week Distorts Loan Application Data
In this week's release, which reported on the holiday shortened week ending November 27, new loan application activity increased 2.1%. The refinance index was 1.7% higher and the Purchase index was up 4.1%. It is very important to note that these results are adjusted for the Thanksgiving holiday. On an unadjusted basis, the Market Composite Index was 29.3% lower.
FHA to Raise FICO Requirements, Reduce Seller Concessions, Increase Premiums and Downpayment
The FHA is taking steps to tighten its lending standards through measures that will impact both borrowers and lenders according to remarks made to congress by HUD Secretary Shaun Donovan today.
ADP Jobs, Beige Book
Equity futures are looking down ahead of key labor data for the month and the Federal Reserve’s latest assessment of the economy. Two hours before the opening bell, investors are hesitant to push stocks higher after the 1.21% gain in the S&P 500 yesterday.rnrnFutures on the Dow are currently down 2 points to 10,449 while the benchmark S&P 500 looks to open 1.25 points lower at 1,107.rn
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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...