Houston Refinance
Refinancing in Houston area
Archive for February, 2010
Judging stimulus: Jobless rate high, growth real
Feb 18th
WASHINGTON (AP) — Did the stimulus work or not? A year after Congress passed President Barack Obama’s huge economic revival plan, the results are mixed – and hardly final.
Despite Obama’s bold promises, unemployment remains stubbornly high. But job losses have slowed dramatically.
And the nation’s recent economic growth is real, even though the government has spent just one-third of the massive stimulus plan. The program- originally estimated at $787 billion but now priced at $862 billion – is to continue pumping federal money into the economy into 2011. Read the rest of this entry »
Increase in spending shows a good sign for the economy
Feb 10th
NEW YORK (AP) — Americans backed off from their holiday spending pace in January, but retail sales rose for a third month in a row compared with a year earlier, largely because of higher gas prices, according to figures released Wednesday.
Analysts expect the modest spending pace to improve in coming months, though it will be far from robust as high unemployment and tight credit show little sign of disappearing. Read the rest of this entry »
Mortgage demand at six-week highs on refinance wave
Feb 8th
NEW YORK (Reuters) – Demand for home loans rose to a six-week high on a mini refinance wave, with borrowers pushing to lock in rates before they climb later this year, the Mortgage Bankers Association said on Wednesday,
Applications to buy homes and refinance loans jumped last week to mid-December levels as average 30-year mortgage rates held near 5 percent.
The industry group’s mortgage index jumped 21 percent last week, fueled by a 26.3 percent leap in demand for refinancing as purchase loan requests increased 10.3 percent.
The 30-year mortgage rate dipped 0.01 percentage point to 5.01 percent. Read the rest of this entry »
