A sharp spike in interest rates following the election of Donald J. Trumplast week threw icy cold water on the mortgage market. Total mortgage application volume fell 9.2 percent on a seasonally adjusted basis from the previous week, according to the Mortgage Bankers Association. Applications, however, were 12 percent higher than one year ago. ADVERTISING inRead invented by Teads Daniel Acker | Bloomberg | Getty Images A ‘For Sale’ sign stands in a vacant lot near new homes in Dunlap, Illinois. The drop was expected, given how quickly mortgage interest rates rose. The average contract interest rate for 30-year fixed-rate…
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The highest interest rates in well over a year are putting a dent in the mortgage business. Total mortgage application volume fell 9.4 percent last week versus the previous week, on a seasonally adjusted basis. The Mortgage Bankers Association adjusted the weekly reading to account for the Thanksgiving holiday. Volume was 0.5 percent lower than the same week one year ago, the first annual drop in total volume since January. “Mortgage lenders have been very thankful for a strong 2016 in terms of origination activity. However, mortgage application volume in the Thanksgiving week dropped sharply to the lowest level since…
Homebuyers were notably cautious in October, as uncertainty surrounding the presidential election kept sales in check. Signed contracts to buy existing homes rose just 0.1 percent month-to-month, according to the Pending Home Sales Index from the National Association of Realtors. The index was 1.8 percent higher than October of 2015. Mortgage rates since the election have spiked to around 4 percent. Daniel Acker | Bloomberg | Getty Images A ‘Sale Pending’ sign stands outside a home for sale in Peoria, Illinois. Demand for housing is high but supply continues to weaken across much of the nation and is well below…
Trump tax plan’s impact on housing Wednesday, 30 Nov 2016 | 4:57 PM ET | 02:25 For more than a century, homeownership has come with a small bonus: The mortgage interest deduction. It allows borrowers to deduct the interest paid on their home loans from their income taxes. Real estate agents, homebuilders and mortgage lenders have long used it as a selling point. Every so often it comes up in debate, but it is so popular that lawmakers are more than a little bit afraid to touch it. The future Trump administration apparently is not. “We’ll cap the mortgage interest, but…
“If Bharat has to revive its former glory and become one of the first ranking nations, the way ahead is only through such an educational system which will train students to understand that the end of education is character,” says West Bengal Governor K N Tripathi. In picture, West Bengal Governor K N Tripathi (Image source: India TV) RELATED STORIES Delhi HC dismisses international publisher’s plea, upholds Indian Copyright Law J Jayalalithaa passes away: Many universities postpone exams in Tamil Nadu US is most preferred destination for Indian students Aadhaar-enabled biometric attendance system for all JEE (Mains) 2017 exam centres…
Under the new norms, eligibility for applying for classes six to eight is graduation with 50 per cent marks, for classes nine to ten, it is graduation/PG with 50 per cent marks, and for classes 11 and 12, it is PG with 50 per cent marks. recruitment RELATED STORIES US is most preferred destination for Indian students Aadhaar-enabled biometric attendance system for all JEE (Mains) 2017 exam centres Need to modernise educational facilities to improve results, says Telangana Deputy CM New UGC norms restrain educational institutes from keeping original document of students School timings changed in Noida, Ghaziabad, Lucknow due…
President Barack Obama has ordered U.S. intelligence agencies to conduct a full review of the cyberattacks that allegedly tried to disrupt this year’s election, as his successor Donald Trump casts doubt over Russia’s possible involvement. Obama’s homeland security advisor Lisa Monaco first mentioned the need for the review while speaking to reporters on Friday morning, according to Politico. “We may be crossed into a new threshold, and it is incumbent upon us to take stock of that, to review, to conduct some after-action, to understand what this means, and to impart those lessons learned,” Monaco reportedly said. The review is scheduled…
Many Google users believe the company records audio through phones and computers, then applies those recordings to the AutoComplete options in Google Search. I asked followers on Google+ about this and one wrote: “If me and my wife are talking about some random subject like how long turtles live, I’ll type ‘how’ and it will fill in ‘long do turtles live’ like it was listening. And I’m terrified and impressed.” The anecdotal evidence is convincing. Some say AutoComplete is more than just specifically accurate, it’s personal. One commenter said his friend got an address over the phone from his wife.…
While the Samsung Galaxy C9 Pro (SM-C9000) has already been made official, it’s currently only available for purchase in China. For those waiting for Samsung to release the phone in other markets, here’s some good news: the launch may happen soon. That’s because the Samsung SM-C900F, which is most likely the international variant of the Galaxy C9 Pro, has received Wi-Fi certification from the WiFi Alliance (WFA). As for specs, the SM-C900F is said to be similar to the Chinese variant, meaning it’ll also be powered by Qualcomm’s new Snapdragon 653 chipset and sport a 6-inch 1080p touchscreen. RAM will…
Apple is often praised for its after-sales service and support, as well as device guarantee policy and Apple care programs.For the most part, we have to hand it to Cupertino, especially for its truly international repair and replacement coverage. We are sure, at lest some of you have found themselves in a situation, where you phone or laptop gets damaged or simply malfunctions while you are abroad. No problem, the nearest Apple store can take cake or that. The nice people there might even replace your smartphone with a shiny new one, if a defect is found in yours. However,…