Tuesday, June 2nd, 2020
According to a recent Wall Street Journal article, home builder share prices have been stock market standouts this month and are signaling that investors are betting on a swift housing recovery as stay-at-home orders are lifted. The iShares U.S. Home Construction ETF (ticker ITB), composed of major builders, home-improvement retailers and other related stocks, surged 18% in May, compared with the S&P 500’s 4.5% monthly gain. The outperformance of stocks in the residential real-estate industry marks a sharp turnaround from the steep selloff that many of the companies faced when the market plummeted this year. Investors have had reason to […]
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Wednesday, April 1st, 2020
In these tough times, a rare silver lining has come in the form of mortgage refinancings. Where rates are headed is anyone’s guess because these are unprecedented times and markets are reacting in ways nobody has ever seen. Though historically low 10-year Treasury yields should coincide with plunging mortgage rates, other factors, including investors pulling money out of mortgage-backed securities amid a broad asset selloff, caused rates to tick up recently. Some lenders are so overwhelmed with refi requests that they are slowing the flow of business by raising rates. The dynamic situation requires that borrowers get ready to act […]
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Tuesday, March 3rd, 2020
Federal Reserve Chairman Jerome Powell signaled on Friday that the central bank is prepared to cut interest rates if needed. “The fundamentals of the U.S. economy remain strong. However, the coronavirus poses evolving risks to economic activity,” Mr. Powell said in a statement released Friday afternoon. “The Federal Reserve is closely monitoring developments and their implications for the economic outlook. We will use our tools and act as appropriate to support the economy.” The Fed used similar language last June to indicate it was prepared to cut interest rates if needed after the U.S.-China trade war threatened to aggravate a […]
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Keegan Mortgage Corporation
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