Browsing: Newsbytes

Mortgage

More than 626,000 borrowers refinanced their Fannie Mae or Freddie Mac mortgage loans in the third quarter, with 15,597 refinanced through the Home Affordable Refinance Program, the Federal Housing Finance Agency said yesterday.

Economy

Economic growth in the U.S. is picking up pace in the final months of 2016 and will continue growing “over the next couple of years,” Federal Reserve Chairman Janet Yellen told the Joint Economic Committee of Congress today. Yellen emphasized steady unemployment rates and “above-trend job growth” as reasons to expect continued “moderate” economic expansion,

Economy

Housing starts rose to a seasonally adjusted annual rate of 1.323 million in October, 25.5% above the revised September rate of 1.054 million and 4.6% above the October 2015 rate. Housing activity increased in all regions, led by strong jumps in the Northeast (44.8%) and the Midwest (44.1%). Activity in the West increased by 23.2%

Economy

The Consumer Price Index increased 0.4% in October on a seasonally adjusted basis. Over the last 12 months, the all-items index rose 1.6% before seasonal adjustment. Prices for all items less food and energy increased 0.1% in October, the same increase as September. The index rose 2.1% over the past 12 months ending in October.

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