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Mortgage Applications Rebound, Rates Unchanged
Demand for mortgage loans rebounded just before the holiday weekend, even as the average rate for a 30-year mortgage failed to improve, according to a weekly industry index. The Mortgage Bankers Association said loan applications jumped up 10.9% in the week ending July 3, after plummeting by 19% in the week before. rnrnrn
ABA Says Delinquencies on Rise. MND Says Bad Implications for Housing Recovery
The American Bankers Association's (ABA) today released Consumer Credit Delinquency data. The ABA report said that the composite ratio, which tracks delinquencies in eight closed-end installment loan categories, rose 0.1 percent to a new record high of 3.23 percent of all accounts being delinquent.With continued job losses and longer periods of unemployment expected, further credit delinquencies are anticipated, especially if consumers are becoming increasingly reliant on credit cards to "make the ends meet". Credit issuers are thus likely to freeze or close accounts in anticipation of this event. With a loss of credit, consumers will be forced to make a
Mid-Day Recap: Not Such a Hot Summer After All
Despite some optimism a few hours before the bell, markets opened lower once the first of two weekly retail sales reports came in with disappointing figures. In the first 90 minutes trading investor sentiment failed to rebound and equities extended their
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By John Gittelsohn August 24, 2020, 4:00 AM PDT Some of the largest real estate investors are walking away from Read More...
Late-Stage Delinquencies are SurgingAug 21 2020, 11:59AM Like the report from Black Knight earlier today, the second quarter National Delinquency Survey from the Read More...
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...