“A surge in mortgage rates to two-year highs has undercut borrowing, pushing down refinancing by more than 70 percent since last September. Wells Fargo & Co. (WFC) said this month originations may fall 29 percent this quarter, while JPMorgan Chase & Co. said volumes may plunge 40 percent in the second half compared with the first six months of the year. Builders began work on fewer U.S. homes than projected in August and applications for future work declined more than forecast, the Commerce Department said today. Housing starts rose 0.9 percent to a 891,000 annual rate, following the prior month’s 883,000 pace that was weaker than previously estimated.”
Home-Loan Drop Pushes Fed Away From Mortgage Bond Taper
- Post author:The Freedom Watch Staff
- Post published:September 21, 2013
- Post category:Network Archives / The Freedom Watch
Tags: Bankocracy, CLibertyC, constitutional liberty coalition, economic Trends, for life and liberty, Investment/Trends, Mainstream News, Property/Assets/Rights, Resistance, sound money, The Freedom Watch
The Freedom Watch Staff
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