Foreclosures | Mortgages | Financing
Gold futures settled lower on Friday to log a weekly loss of 0.3%, with strength in both the U.S. dollar and stock market dulling investment interest in the metal. August gold settled at $1,323.40 an ounce, down $7.60, or 0.6%, for the session. Prices fell 2.3% last week but posted gains in each of the previous six weeks.
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From:: Stock Market News
Oil futures continue their decline Friday after after data from Baker Hughes revealed a weekly climb in the number of active U.S. rigs drilling for oil-the fourth increase in a row. The active U.S. oil-rig count rose 14 to 371 as of Friday. The total U.S. rig count climbed by 15 to 462. September crude was at $43.94 a barrel on the New York Mercantile Exchange, down 81 cents, or 1.8%, from Thursday’s settlement. It traded at $43.92 before the data.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News
Homebuyers need to be prepared to act and act fast, as homes are “flying off the market” at speeds not seen in six years, a new report from Zillow shows. Here’s the full scoop. …read more
From:: Real Estate Wire
Dammen brings over 25 years of experience in the mortgage industry, primarily as a correspondent lending executive. Most recently, he worked as an account executive in the correspondent lending division of IMPAC Mortgage Holdings. …read more
From:: Real Estate Wire
Purchase volume continues to dominate the market, according to the latest mortgage report from Ellie Mae. But given the United Kingdom’s decision to leave the European Union at the end of June, will this continue into July? …read more
From:: Real Estate Wire
On point with top mortgage lending peers, SunTrust Banks Inc.’s quarterly production picked up speed. It also saw its servicing and investment portfolios grow.
From April 1 through the end of last month, SunTrust saw a nearly one-half increase in residential loan originations from what it originated in the first quarter.
The Atlanta-based financial institution provided this information, along with other operational and financial details, in its second-quarter 2016 earnings report.
From:: Financing
Over the last several years, there has been a rise in the number of homes where three generations live under one roof. Now, Trulia identified two factors that are causing a rise in multi-generational homes. …read more
From:: Real Estate Wire
SunTrust Bank reported positive earnings for the second quarter. Revenues increased from last month and last year, driven mainly by the company’s mortgage-related income, which increased even while interest rates are near all-time lows. …read more
From:: Real Estate Wire
The likelihood that we are facing yet another refinance volume spike in the wake of Brexit is a good news/bad news scenario for many mortgage lenders. Of course, any surge in orders means a surge in revenue, which is generally very good news. In order to ensure a positive outcome, stick to this advice. …read more
From:: Real Estate Wire
Shares of Facebook Inc. slid 0.8% in early trade Friday, after their recent run up to record highs prompted a ratings downgrade. Analyst Richard Greenfield cut his rating to neutral, after being at buy since October 2013. With the stock surpassing his price target of $117, Greenfield said he believes investor expectations are “simply too aggressive.” Greenfield remains bullish on the social network’s business, saying Facebook remains one of the only ways to play the shift of legacy media ad spending to mobile, and since its advertising growth rate remains “staggeringly” high. “However, investors expectations over the past year have risen dramatically and we now feel the bar is simply too high,” Greenfield wrote in a note to clients. The stock, which closed at a record of $121.92 on Wednesday, has climbed 14% year to date, while the S&P 500 has gained 5.9%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News