Corporate bond issuers were active in the primary market Thursday as strong US corporate earnings, better-than-expected housing data and optimism about the release of forthcoming European bank stress-tests buoyed investor confidence in risk assets. Three investment-grade issuers issued new debt, while the high-yield space continued its robust week with two major debt issues.
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Quicken Loans has become the largest mortgage lender in the country over the last few years due in large part to the growth of Rocket Mortgage, the company’s digital mortgage platform. As it turns out, Rocket Mortgage is becoming so big that it’s now consuming other parts of the Quicken Loans family of companies too, namely the company’s reverse mortgage lender.
U.S. home prices increased 3.8% in December from a year earlier, a faster pace than the prior month’s 3.5%, according to S&P CoreLogic Case-Shiller National Home Price Index.