Stock Market Today: Stocks Rise as Jarring Jobs Miss Cools Taper Talk
The Dow and S&P 500 ended the week at new highs after a big nonfarm payrolls miss eased anxiety the Fed will tighten the purse strings.
The Dow and S&P 500 ended the week at new highs after a big nonfarm payrolls miss eased anxiety the Fed will tighten the purse strings.
The Federal Reserve expectedly kept rates near zero Wednesday, but Fed Chair Jerome Powell’s ensuing commentary took traders for a small whirl.
If you pay attention to the news, you have probably noticed that the Fed makes headlines every so oftenâand it usually dovetails with other major events. In response to a stock market spiraling in the face of COVID-19 in 2020, the Fed cut its interest rates swiftly and seriously, to between 0.0% and 0.25%. As […]
The post Federal Reserve Interest Rates, Explained appeared first on SoFi.
More good newsâ¦for loan originators. The Mortgage Bankers Association increased its 2009 mortgage lending forecast by $800 billion to $2.78 trillion thanks to the expected refinance bonanza. The group now expects refinancing to total $1.96 trillion in 2009 and purchase originations to ring in at $821 billion. The refinance figure is up from an estimated [&hellip
The post MBA Ups 2009 Mortgage Forecast by 0 Billion first appeared on The Truth About Mortgage.
Here’s some good news if you’re looking to buy or refinance in the near future. Mortgage rates, specifically 30-year fixed mortgage rates, are expected to stay below five percent through to next year, according to mortgage financier Fannie Mae. The 30-year fixed mortgage rate averaged 4.80 percent in the first quarter of 2011, 4.70 percent [&hellip
The post Mortgage Rates Expected to Stay Below Five Percent Through Early 2012 first appeared on The Truth About Mortgage.
When deciding whether you should refinance your mortgage, you may look to your friends, family, and neighbors to see what theyâre doing and/or to get advice. After all, if theyâre refinancing, maybe thereâs something to it. But when it comes to financial advice, it doesnât get much better than the Chairman of the Federal Reserve, [&hellip
The post Bernanke Has Refinanced His Mortgage Twice in the Past Two Years first appeared on The Truth About Mortgage.
Todayâs retirees could face a perfect storm because they are living longer and spending more time in retirement, while at the same time losing access to traditional pension plans. This means they may have to use different financial planning strategies than retirees of the past.
If youâve been watching this yearâs tech stock rollercoaster with an odd sense of déjà vu, youâre not alone. Members of the market-watching media have noted the strong parallels between todayâs tech sector and what went down when the dot-com bubble burst back in 2000. And those similaritiesârising stock valuations, an increase in initial public […]
The post Lessons From the Dotcom Bubble appeared first on SoFi.
As youâre probably aware, the latest move to boost the economy was another round of quantitative easing, known as QE3. This most recent initiative targets mortgage-backed securities specifically, with the Fed pledging to purchase $40 billion per month, on an open-ended basis, until things improve. Since it was announced, mortgage rates have inched down to [&hellip
The post Consumers Donât Care About Low Mortgage Rates Anymore first appeared on The Truth About Mortgage.
As widely expected, the Federal Reserve announced âQE3â last week, a move taken to bolster the flagging economy by putting downward pressure on long-term interest rates. More specifically, the Fed pledged to purchase even more agency mortgage-backed securities (MBS) in an effort to push mortgage rates lower than already are, via a method known as [&hellip
The post What QE3 Means for Mortgage Rates first appeared on The Truth About Mortgage.