  Sean_of_detroit Member Username: Sean_of_detroit Post Number: 2306 Registered: 03-2008 |
From the Detroit Free Press: Mortgage rate drop spurs rush to lenders for refinancing Excerpt: 'A sharp plunge in U.S. mortgage rates prompted a rush to refinance, resulting in record-setting business Tuesday at Livonia-based Quicken Loans and big days for other lenders. ...the immediate reaction Tuesday and Wednesday demonstrated pent-up demand for better loans in a depressed real estate market. "We had people not leave until midnight to get back to everyone," said Bob Walters, chief economist at Quicken Loans, who said the number of applications Tuesday was quadruple the normal volume and the largest single day of applications in the company's history.' Link: http://www.freep.com/apps/pbcs .dll/article?AID=2008811270390 Background Information: -Quicken Loans announces move to Downtown Detroit: http://www.modeldmedia.com/fea tures/DEGCnov07.aspx -Quicken move hits speed bumps: https://www.atdetroit.net/forum/mes sages/5/161997.html?1226423789 | ||
Lmichigan Member Username: Lmichigan Post Number: 6464 Registered: 10-2003 |
Funny this got lost, though, I'm not sure what it means for the company in the long run. | ||
Lmichigan Member Username: Lmichigan Post Number: 6465 Registered: 10-2003 |
Actually, what I was kind of implying was that I think it'd be rash for anyone to predict Quicken's future from just this one day. I don't think this in any way points closer to an imminent downtown move or gets us anywhere significantly closer to that. | ||
Iheartthed Member Username: Iheartthed Post Number: 3656 Registered: 04-2006 |
^In addition, it doesn't really tell us anything about the health of the company. |
