The risks of a slowing global economy and potential deflation remain at the center of traders’ attention, as government bond yields see fresh lows. The selling began when Japan said gross domestic product grew at an annualized rate of just 0.4% in the second quarter, much less than the 2.3% growth forecast by economists. Japanese 10-year bonds fell to their lowest yield since 2003.
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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.
Realogy will be renaming NRT, the business unit that includes Corcoran Group, Sotheby’s International Realty and Coldwell Banker.