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Mortgage News Daily:
Fed"s Powell pledges patience, says easy policy appropriate
3/4/2021 2:51 PM
U.S. Federal Reserve Chair Jerome Powell on Thursday repeated his pledge to keep credit loose and flowing until Americans are back to work, rebutting investors who have openly doubted if he can stick to that promise once the pandemic passes and the economy surges on its own....(rea...Read More
UWM to block brokers working with Fairway and Quicken
3/4/2021 12:10 PM
United Wholesale Mortgage, the top wholesale lender in the nation, announced on a Facebook live Thursday that it will no longer partner with brokers who also work with Rocket Mortgage and Fairway Independent Mortgage Corp. ...(read more)
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Fed Chairman Powell says economic reopening could cause inflation to pick up temporarily
3/4/2021 11:54 AM
Fed Chairman Powell says economic reopening could cause inflation to pick up temporarily<br/> more)
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First U.S. Senate vote on COVID-19 aid bill possible Thursday
3/4/2021 11:54 AM
First U.S. Senate vote on COVID-19 aid bill possible Thursday<br/> more)
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Bond scares drive muted Wall Street open, investors look to Powell
3/4/2021 11:13 AM
Worries about lofty U.S. bond yields hit global shares on Thursday and Wall Street"s open was tepid as investors waited to see if Federal Reserve Chair Jerome Powell would address concerns about a rapid rise in long-term borrowing costs....(read more)
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U.S. weekly jobless claims rise moderately; labor market regaining footing
3/4/2021 10:40 AM
The number of Americans filing new claims for unemployment benefits rose last week, likely boosted by brutal winter storms in the densely populated South in mid-February, though the labor market outlook is improving amid declining new COVID-19 cases....(read more)
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Weekly jobless claims rise less than expected
3/4/2021 7:42 AM
First-time claims for unemployment insurance were expected to total 750,000 last week, according to economists surveyed by Dow Jones....(read more)
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U.S. Senate expected to begin debating coronavirus package on Thursday
3/4/2021 7:42 AM
U.S. Senate expected to begin debating coronavirus package on Thursday<br/> more)
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Asia-Pacific shares trade lower as bond yields rise again; tech stocks decline
3/4/2021 7:21 AM
Investors kept an eye on tech shares in Asia after their counterparts stateside fell overnight amid a rise in bond yields....(read more)
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Fed says U.S. economy got off to modest start in 2021
3/3/2021 3:09 PM
The U.S. economic recovery continued at a modest pace over the first weeks of this year, with businesses optimistic about the months to come and demand for housing "robust," but the job market only showing slow improvement, the Federal Reserve reported on Wednesday....(read moreRead More
CFPB Proposes Delay of Mandatory Compliance Date for General Qualified Mortgage Final Rule
3/3/2021 3:07 PM
Today, the Consumer Financial Protection Bureau (CFPB) filed a lawsuit in federal court against BrightSpeed Solutions Inc. (BrightSpeed) and its founder and former chief executive officer, Kevin Howard, for knowingly processing payments for companies engaged in internet-based technical-support fraud. Chicago-based BrightSpeed was a privately owned,...Read More
U.S. Senate negotiates limits in Biden"s $1.9 trillion COVID-19 bill before vote
3/3/2021 11:56 AM
Democratic U.S. senators and President Joe Biden have agreed to place an income limit on Americans who would receive stimulus payments under his $1.9 trillion coronavirus relief package, according to media reports and lawmakers on Wednesday....(read more)
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ECB could tweak its pandemic stimulus as bond yields surge, Germany"s Weidmann says
3/3/2021 11:55 AM
The European Central Bank could tweak its coronavirus-related stimulus program, Germany"s central bank governor told CNBC Wednesday, with officials wary of recent increases in bond yields....(read more)
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Four lessons from a year of pandemic housing policies
3/3/2021 11:55 AM
Housing insecurity was a widespread problem among low-income renters well before the COVID-19 pandemic. As of 2019, more than 10 million households spent over half their income on rent. Today, households earning less than $30,000 per year are experiencing the highest rates of job loss and the slowest recovery, while low-income, Black, and Latino or...Read More
ISM® Services Index decreased to 55.3% in February
3/3/2021 10:42 AM
(Posted with permission). The February ISM® Services index was at 55.3%, down from 58.7% last month. The employment index decreased to 52.7%, from 55.2%. Note: Above 50 indicates expansion, below 50 contraction. From the Institute for Supply Management®: February 2021 Services ISM® Report On Business® Economic activity in the services sector grew i...Read More