Demand for riskier home loans is high as interest rates soar

Mortgage demand dropped again last week as rates climbed higher, but one type of loan is attracting borrowers. Adjustable-rate mortgages, or ARMs, which offer lower rates, are seeing renewed demand after getting very little interest over the last decade.

Total mortgage application volume dropped 2% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index, a consequence of surging rates.

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($647,200 or less) increased to 6.81% from 6.75%, with points increasing to 0.97 from 0.95 (including the origination fee) for loans

Read more

U.S. job growth seen slowing in August as Delta variant curbs services demand

A sign advertising job openings is seen while people walk into the store in New York City, New York, U.S., August 6, 2021. REUTERS/Eduardo Munoz

  • Nonfarm payrolls forecast increasing 750,000 in August
  • Unemployment rate seen falling to 5.2% from 5.4%
  • Average hourly earnings forecast rising 0.3%

WASHINGTON, Sept 3 (Reuters) – U.S. employment growth likely pulled back in August after gaining nearly 2 million jobs in the past two months as soaring COVID-19 cases reduced demand for travel and entertainment, but the pace was probably enough to sustain the economic expansion.

The Labor Department’s closely watched employment report on Friday

Read more

The Supply Side: Bold Strategies riding high on robust e-commerce demand

Rogers-based Bold Strategies, an e-commerce marketing and sales consultancy, has seen rapid growth in a short time.

Founded in early 2017 by Allan and Lisa Peretz, the business recently made the 2021 Inc. 5000 list as the fastest-growing private company in Arkansas, with revenue soaring 1,781% over the past three years.

Bold Strategies ranked No. 259 out of the top 5,000 fastest-growing U.S. companies on the magazine’s list. Peretz said he and his wife primarily bootstrapped the business, and in 2019 they raised an additional $1.1 million in capital through CrunchBase. Peretz said employees, family and friends own the

Read more