Foreclosures | Mortgages | Financing
Tucked inside of Redfin’s initial public offering filing with the Securities and Exchange Commission, the online real estate company revealed it’s testing out the home buying and selling business. Redfin, however, wasn’t able to provide any additional information on this new Redfin Now program other than was provided in the filing, which isn’t a lot. Here’s what is known so far. …read more
From:: Real Estate Wire
Long-term interest rates on residential loans took a giant leap this past week, and there is a good chance that they will be even higher in the next report.
During the seven days that concluded on July 6, thirty-year fixed rates averaged 3.96 percent in the Primary Mortgage Market Survey from Freddie Mac.
Interest rates surged from one week prior, when the average was 3.88 percent, and one year prior, when long-term mortgage rates averaged 3.41 percent.
From:: Financing
Campbell Soup Co. said late Thursday it plans to acquire Tualatin, Ore.-based organic soup company Pacific Foods for $700 million. Campbell Soup shares rose 0.5% to $51.92 after hours. Campbell Soup said the acquisition will be neutral to earnings in the first 12 months following the close.
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
Several of the largest trade organizations in banking want to meet with Attorney General Jeff Sessions to discuss how the Trump administration’s approach to fair lending laws and if the current administration plans to enforce those laws any differently than the previous administration did. …read more
From:: Real Estate Wire
Compared to a month earlier, the number of consumers who resorted to bankruptcy last month was down by 4 percent.
Including filings made by businesses and consumers, there were 66,757 new bankruptcies that were filed in the month of June 2017.
The volume of new cases filed with U.S. Bankruptcy Courts retreated from the preceding month, when the total came to 69,668.
From:: Financing
Shares of Synchronoss Technologies Inc. rose 9% late Thursday after the Bridgewater, N.J., company said its board of directors had started to “evaluate potential strategic alternatives to maximize shareholder value,” which may include a sale, the company said in a statement. Synchronoss disclosed a non-binding indication of interest from Siris Capital Group, LLC in June to buy the company. The company has not set a timetable to complete the review process and does not plan to disclose “developments related to the process unless and until the Board approves a transaction or specific action,” the company said. The stock ended the regular session down 2.3%.
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
U.S. stocks finished lower Thursday as investors shifted out of tech stocks and a selloff of energy shares continued from Wednesday. The Dow Jones industrial Average fell 158.13 points, or 0.7%, to close at 21,320.04, with big losses in shares of General Electric Co. and Intel Corp. leading the average lower. The S&P 500 index declined 22.79 points, or 0.9%, to end at 2,409.75, led lower by the telecom, real estate, and energy sectors. The Nasdaq Composite Index closed down 61.39 points, or 1%, at 6,089.46.
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
Plans are in the works for the government-sponsored enterprises to begin supporting the market for manufactured housing.
Financing for manufactured housing is provided through chattel loans, which are secured by the structure and not the land.
But without the land as security, the value of the manufactured home depreciates, whereas traditional homes rise in value.
From:: Financing
Within the next couple of months, several Federal Reserve officials revealed at a recent meeting that they want to reduce massive asset holdings.
Minutes of the policymaking Federal Open Market Committee’s June 13 and June 14 meeting were released on Wednesday.
The minutes indicated several officials wanted to start unloading Treasury and mortgage bonds accumulated through Quantitative Easing during the next couple months.
From:: Financing
Oil prices settled with a gain Thursday, getting a boost as data revealed a hefty, weekly drop in U.S. crude supplies, but domestic output rose, feeding ongoing global supply concerns. August WTI crude rose 39 cents, or 0.9%, to settle $45.52 a barrel on the New York Mercantile Exchange, after tapping a high of $46.53. Prices sank 4.1% Wednesday on reports that Russia ruled out deeper production cuts and OPEC exports rose in June.
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