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  • Wed, Aug 16 2017
  • 12:26 PM » Every Region of U.S. Sees Fewer New Homes Hitting the Market—Except One
    Published Wed, Aug 16 2017 12:26 PM by www.realtor.com
    New home construction isn't expect to ease the maddening housing crunch anytime soon except, perhaps, in one part of the country. The post Every Region of U.S. Sees Fewer New Homes Hitting the Market-Except One appeared first on Real Estate News & Insights | realtor.com® .
    Click Here to Read the Full Article

    Source: www.realtor.com
  • 12:26 PM » Fed's Fischer calls Trump-led rollback of Wall Street regulations ‘mind-boggling'
    Published Wed, Aug 16 2017 12:26 PM by Market Watch
    The Federal Reserve's second in command warns the Trump administration's rollback of bank regulations may be "very dangerous" and another senior Fed official suggests the White House's goal of 3% annual economic growth is unrealistic.
  • 12:26 PM » Comments on July Housing Starts
    Published Wed, Aug 16 2017 12:26 PM by Calculated Risk Blog
    Earlier: Housing Starts decreased to 1.155 Million Annual Rate in July The housing starts report released this morning showed starts were down 4.8% in July compared to June, and were down 5.6% year-over-year compared to July 2016.  This was a weak report and was below the consensus forecast. Note that multi-family starts are volatile month-to-month, and has seen wild swings over the last year. This first graph shows the month to month comparison between 2016 (blue) and 2017 (red). Click on graph for larger image. Starts were down 4.8% in July 2017 compared to July 2016, and starts are up only 2.4% year-to-date. Note that single family starts are up 8.6% year-to-date, and the weakness (as expected) has been in multi-family starts. My guess is starts will increase around 3% to 7% in 2017 . Below is an update to the graph comparing multi-family starts and completions. Since it usually takes over a year on average to complete a multi-family project, there is a lag between multi-family starts and completions. Completions are important because that is new supply added to the market, and starts are important because that is future new supply (units under construction is also important for employment). These graphs use a 12 month rolling total for NSA starts and completions. The blue line is for multifamily starts and the red line is for multifamily completions. The rolling 12 month total for starts (blue line) increased steadily over the last few years - but has turned down recently.  Completions (red line) have lagged behind - but completions have been catching up (more deliveries).  Completions lag starts by about 12 months. As I've been noting for a couple of years, the growth in multi-family starts is behind us - multi-family starts probably peaked in June 2015 (at 510 thousand SAAR). The second graph shows single family starts and completions. It usually only takes about 6 months between starting a single family home and...
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 12:26 PM » Home Prices Jump 6.2 Percent in Second Quarter; Eclipse 2016 High
    Published Wed, Aug 16 2017 12:26 PM by Google News
    WASHINGTON (August 16, 2017) — The headstrong supply and demand imbalances in much of the country slightly tempered the pace of sales and caused home prices to maintain their robust growth in the second quarter, according to the latest quarterly report by the National Association of Realtors®. The national median existing single-family home price in the second quarter was $255,600, which is up 6.2 percent from the second quarter of 2016 ($240,700) and surpasses the third quarter of last year ($241,300... Read More
  • 10:42 AM » CFPB warns consumers about debt relief/settlement companies; Ballard to hold Nov. 9 webinar
    Published Wed, Aug 16 2017 10:42 AM by www.consumerfinancemonitor.com
    Last week, the CFPB published a blog post with tips for consumers facing a cash flow emergency. We were glad to see that the blog post included a warning to consumers about debt relief or settlement companies. The CFPB advised consumers to beware of for-profit debt relief or settlement companies that promise to pay off... Continue Reading
    Click Here to Read the Full Article

    Source: www.consumerfinancemonitor.com
  • 9:35 AM » US stocks open higher as Wall Street braces for the release of Fed meeting summary
    Published Wed, Aug 16 2017 9:35 AM by CNBC
    U.S. equities opened higher on Wednesday as investors looked ahead to a key release from the Federal Reserve.
  • 8:47 AM » US housing starts, permits fall unexpectedly in July
    Published Wed, Aug 16 2017 8:47 AM by CNBC
    U.S. home building unexpectedly fell in July as the construction of single- and multi-family homes declined.
  • 8:22 AM » Great Recession so deep that people don't trust long-term investments, Atlanta Fed president says
    Published Wed, Aug 16 2017 8:22 AM by CNBC
    "The Great Recession was so deep and is scared people so significantly that they are reluctant to trust in long-term investments," Raphael Bostic tells CNBC.
  • 8:20 AM » Texas Is a Homebuilding Machine. And the Rest of the US?
    Published Wed, Aug 16 2017 8:20 AM by Bloomberg
    Bloomberg Texas Is a Homebuilding Machine. And the Rest of the US? Bloomberg Austin, Dallas, and Houston are on pace to issue more than 10 percent of permits for new homes in 2017. By. Patrick Clark. @pat_clark More stories by Patrick Clark. Tue Aug 15 2017 21:01:12 GMT-0700 (PDT). In the market for a new home? You'll fare ... and more »
  • Tue, Aug 15 2017
  • 3:09 PM » Newly built homes skew ever richer
    Published Tue, Aug 15 2017 3:09 PM by CNBC
    The cost of housing is rising at a fast clip, and nowhere is it more apparent than in the market for newly built homes.
  • 12:57 PM » Americans' debt level notches a new record high
    Published Tue, Aug 15 2017 12:57 PM by Reuters
    NEW YORK (Reuters) - Americans' debt level notched another record high in the second quarter, after having earlier in the year surpassed its pre-crisis peak, on the back of modest rises in mortgage, auto and credit card debt, where delinquencies jumped.
  • 12:56 PM » Traders lift bets on one more rate hike this year up above 50%
    Published Tue, Aug 15 2017 12:56 PM by Market Watch
    Traders on the federal-funds futures market ramped up their bets for one more rate hike this year to above 50%, according to CME Group data. 47% of the odds were on a quarter-percentage point point hike for the Dec. 13 policy meeting, and 3.4% of the odds were for a half-percentage point hike. This was in sharp contrast to last Friday's reading of a 37.4% chance of a bump to interest rates. The shift in sentiment in favor of monetary tightening comes in the wake of a raft of stronger-than-expected economic data led by retail sales and Fed President Dudley's comments on Monday suggesting he would not rule out a rate hike for this year. The 2-year Treasury yield , sensitive to the outlook for central bank policy, have risen about 5 basis points this week. The increase in odds for a rate hike have also helped lift financial stocks. The Financial Select Sector SPDR ETF climbed around 1.8% this week-to-date, while Goldman Sachs rose 2.3% over the same period.
  • 11:01 AM » US business inventories post biggest gain in seven months
    Published Tue, Aug 15 2017 11:01 AM by CNBC
    U.S. business inventories recorded their biggest increase in seven months in June.
  • 10:58 AM » Amazon's debt offering to fund Whole Foods acquisition includes 40-year bond
    Published Tue, Aug 15 2017 10:58 AM by CNBC
    Amazon.com announced Tuesday a private debt offering to fund its acquisition of Whole Foods Market.
  • 10:16 AM » The North Korea factor: Jittery ETF investors look for ways to safeguard their portfolios
    Published Tue, Aug 15 2017 10:16 AM by CNBC
    ETF investors concerned about the North Korea-US standoff are looking at ways to reduce risk in their portfolios without switching to money market funds.
  • 8:40 AM » US retail sales post biggest gain in seven months
    Published Tue, Aug 15 2017 8:40 AM by CNBC
    U.S. retail sales recorded their biggest increase in seven months in July as consumers boosted purchases of motor vehicles as well as discretionary spending.
  • 8:40 AM » US import prices rebound after two straight monthly declines
    Published Tue, Aug 15 2017 8:40 AM by CNBC
    Import prices increased in July, driven by rising costs for petroleum products and food, but underlying imported inflation remained muted.
  • 8:25 AM » Guam missile launch plan: Kim Jong Un waiting for ‘foolish Yankees' next move
    Published Tue, Aug 15 2017 8:25 AM by CNBC
    North Korean leader Kim Jong Un will watch what "the foolish Yankees" do before making a decision on plans to fire four missiles toward the U.S. territory of Guam, state media in the reclusive nation reported.
  • 8:22 AM » Home Depot's quarterly profit jumps 9.5 percent
    Published Tue, Aug 15 2017 8:22 AM by Reuters
    (Reuters) - Home Depot Inc , the No. 1 U.S. home improvement chain, reported a 9.5 percent rise in quarterly profit amid an increase in remodeling activity and as an extended spring season boosted demand for outdoor products.
  • Mon, Aug 14 2017
  • 2:00 PM » Our Homes May Get Smarter, But Have We Thought It Through?
    Published Mon, Aug 14 2017 2:00 PM by www.npr.org
    As our houses fill with the Internet of things, sensors will tell us whether we left the stove on or if we're out of paper towels. But critics worry these devices won't be secure and will spy on us.
  • 1:58 PM » S&P 500 on track for best daily gain in about 4 months
    Published Mon, Aug 14 2017 1:58 PM by Market Watch
    Stock markets Monday afternoon were enjoying a sharp rally, putting the S&P 500 index in position to post its best daily gain in about four months. The S&P 500 index was most recently up more than 1% at 2,466, which would represent the best daily gain for the broad-market benchmark since April 24, according to FactSet data. In fact, the S&P 500 has only seen a gain of at least 1% on two other occasions so far in 2017 (including March 1), with a rally today of at least that level marking the third such gain this year. Overall, the Dow Jones Industrial Average was up 0.7%, and the Nasdaq Composite Index was on pace for a 1.3% one-day rise, both their best daily advances since June 28.
  • 1:58 PM » After a Summer Bond Binge, Signs of Angst Are Growing in the Market
    Published Mon, Aug 14 2017 1:58 PM by Bloomberg
    Bloomberg After a Summer Bond Binge, Signs of Angst Are Growing in the Market Bloomberg Raymond Lee, portfolio manager and head of credit at Kapstream Capital, discusses how geopolitics and other factors are impacting global bond markets. He speaks on 'Bloomberg Markets: Asia.' (Source: Bloomberg). Have we finally reached peak credit ... and more »
  • 12:05 PM » Homebuyers put less and less skin in the game, adding to the market's overall risk
    Published Mon, Aug 14 2017 12:05 PM by CNBC
    Homebuyers are increasingly opting to put down less money when purchasing their homes, increasing their risk should the housing market falter yet again.
  • 9:09 AM » Share of Builders Reporting Labor Shortages Rises Again
    Published Mon, Aug 14 2017 9:09 AM by eyeonhousing.org
    Labor and subcontractor shortages have become even more widespread in July of 2017 than they were in June of 2016, according to single-family builders responding to special questions on the NAHB/Wells Fargo Housing Market Index (HMI) survey. The July 2017 HMI survey asked builders about shortages in 15 specific occupations that were either recommended by Home Builders Institute (NAHB's workforce development arm)... Read More ›
    Click Here to Read the Full Article

    Source: eyeonhousing.org
  • 9:09 AM » US tax change proposals anger builders, real estate agents, charities
    Published Mon, Aug 14 2017 9:09 AM by CNBC
    Industry groups and other sectors of society are gearing up to fight proposed changes to the personal income tax.
  • 9:06 AM » If Housing Is So Affordable, Why Doesn't It Feel That Way?
    Published Mon, Aug 14 2017 9:06 AM by Freddie Mac
    By Sean Becketti, VP Chief Economist The National Association of Realtors' Housing Affordability Index is currently at near-record highs. But for a lot of people, it sure doesn't feel like housing is affordable. Read More
  • 9:05 AM » Subprime mortgage cycle begins anew in 2017
    Published Mon, Aug 14 2017 9:05 AM by The Basis Point
    It's been 10 years since subprime mortgages toppled the world economy, now here's an early signal of a new subprime cycle. The post Subprime mortgage cycle begins anew in 2017 appeared first on The Basis Point .
    Click Here to Read the Full Article

    Source: The Basis Point
  • 9:04 AM » Bond Market Looks Expensive, Until You Factor in Threat of War
    Published Mon, Aug 14 2017 9:04 AM by Bloomberg
    Bloomberg Bond Market Looks Expensive, Until You Factor in Threat of War Bloomberg The bond bulls in the $14 trillion Treasuries market didn't expect -- or want -- to be proven right in quite this manner. Ramped-up bellicose rhetoric between U.S. President Donald Trump and North Korean leader Kim Jong Un has stoked fears of imminent ... and more »
  • 9:01 AM » The Housing Bottom and Comparing Housing Recoveries
    Published Mon, Aug 14 2017 9:01 AM by Calculated Risk Blog
    In early 2012 I wrote The Housing Bottom is Here and Housing: The Two Bottoms , I pointed out there are usually two bottoms for housing: the first for new home sales, housing starts and residential investment, and the second bottom is for house prices. For the bottom in activity, I presented a graph of Single family housing starts, New Home Sales, and Residential Investment (RI) as a percent of GDP. When I posted that graph, the bottom wasn't obvious to everyone. Here is an update to that graph. Click on graph for larger image. The arrows point to some of the earlier peaks and troughs for these three measures. The purpose of this graph is to show that these three indicators generally reach peaks and troughs together. Note that Residential Investment is quarterly and single-family starts and new home sales are monthly. For the most recent housing bust, the bottom was spread over a few years from 2009 into 2011. This was a long flat bottom - something a number of us predicted given the overhang of existing vacant housing units. In 2012 , I argued that the current housing recovery would continue to be sluggish relative to previous housing recoveries. I suggested there were several reasons for this.  From my 2012 post: First, the causes of this downturn were different than in most cycles. Usually housing down cycles are related to the Fed fighting inflation, and then housing comes back strongly when the Fed starts to ease again. But in this cycle, the housing downturn was the result of the bursting of the housing bubble and the financial crisis. As everyone now knows (or should know by now), recoveries following a financial crisis are sluggish. This is especially true for housing as all the excesses have to be worked down before the recovery will become robust. In some areas of the country, housing is starting to recover, and in other areas there are still a large number of excess vacant houses (although the number is being reduced just about everywhere). There...
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • Fri, Aug 11 2017
  • 4:05 PM » Fed's Kashkari says central bank's hawks are spooked by ‘ghost story' of higher wages
    Published Fri, Aug 11 2017 4:05 PM by Market Watch
    Minneapolis Fed President Neel Kashkari said Friday that hawks on the central bank are worried about an inflation "ghost story."
  • 4:04 PM » The Most Popular Interior Design Styles in Each State
    Published Fri, Aug 11 2017 4:04 PM by www.realtor.com
    Is your home's style in sync with your state-and the rest of the country? Here's a map of the top interior design trends, from contemporary to bohemian. The post The Most Popular Interior Design Styles in Each State appeared first on Real Estate News & Insights | realtor.com® .
    Click Here to Read the Full Article

    Source: www.realtor.com
  • 11:59 AM » Key Measures Show Inflation mostly below 2% in July
    Published Fri, Aug 11 2017 11:59 AM by Calculated Risk Blog
    The Cleveland Fed released the median CPI and the trimmed-mean CPI this morning: According to the Federal Reserve Bank of Cleveland, the median Consumer Price Index rose 0.2% (2.0% annualized rate) in July. The 16% trimmed-mean Consumer Price Index also rose 0.2% (1.8% annualized rate) during the month. The median CPI and 16% trimmed-mean CPI are measures of core inflation calculated by the Federal Reserve Bank of Cleveland based on data released in the Bureau of Labor Statistics' (BLS) monthly CPI report. Earlier today, the BLS reported that the seasonally adjusted CPI for all urban consumers rose 0.1% (1.3% annualized rate) in July. The CPI less food and energy also rose 0.1% (1.4% annualized rate) on a seasonally adjusted basis. Note: The Cleveland Fed released the median CPI details for July here . Motor fuel declined 14% in July annualized. Click on graph for larger image. This graph shows the year-over-year change for these four key measures of inflation. On a year-over-year basis, the median CPI rose 2.1%, the trimmed-mean CPI rose 1.9%, and the CPI less food and energy rose 1.7%. Core PCE is for June and increased 1.5% year-over-year. On a monthly basis, median CPI was at 2.0% annualized, trimmed-mean CPI was at 1.8% annualized, and core CPI was at 1.4% annualized. Using these measures, inflation was soft again in July.  Overall these measures are mostly below the Fed's 2% target  (Median CPI is slightly above).
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 11:38 AM » The Fed: Fed won't like soft July CPI data but has four months to get over it
    Published Fri, Aug 11 2017 11:38 AM by Market Watch
    The Federal Reserve was not happy with the July CPI data and will want to see a pickup by December, when the next rate move is likely to be on the table.
  • 11:30 AM » Fed key rate closer to 'neutral,' should be patient on inflation: Kaplan
    Published Fri, Aug 11 2017 11:30 AM by CNBC
    The Fed's key interest rate is getting close to a "neutral" level so the Fed should patiently wait for further evidence on inflation.
  • 11:22 AM » TRID Rule Amendments and Proposal Published
    Published Fri, Aug 11 2017 11:22 AM by www.consumerfinancemonitor.com
    As we reported previously, on July 7, 2017 the Consumer Financial Protection Bureau (CFPB) posted on its website long awaited amendments to the TILA/RESPA Integrated Disclosure (TRID) rule, and a proposal to address the so-called "black hole" issue (regarding limits on the ability of a credit to reset tolerances with a Closing Disclosure). Both the... Continue Reading
    Click Here to Read the Full Article

    Source: www.consumerfinancemonitor.com
  • 9:56 AM » Markets to Fed: There's little chance of another rate hike this year
    Published Fri, Aug 11 2017 9:56 AM by CNBC
    The already skeptical markets now give the Fed just a one-in-three chance of being able to hike interest rates in December.
  • 8:49 AM » US consumer prices rise less than expected in July
    Published Fri, Aug 11 2017 8:49 AM by CNBC
    U.S. consumer prices rose less than expected in July, pointing to benign inflation that could make the Fed cautious about raising interest rates again this year.
  • 8:28 AM » Real Estate Billionaires Form Rental Giant in Shifting Industry
    Published Fri, Aug 11 2017 8:28 AM by Bloomberg
    Bloomberg Real Estate Billionaires Form Rental Giant in Shifting Industry Bloomberg It was a simple phone call between two real estate billionaires that led to the formation of a behemoth in the house-rental industry. Property investor Barry Sternlicht called Jon Gray, head of real estate for Blackstone Group LP, in the spring ... and more »
  • 8:27 AM » Worrying about the bond-market bubble is ‘old guy' thinking
    Published Fri, Aug 11 2017 8:27 AM by CNBC
    Here's why worrying about the bond market bubble bursting is misguided, says Matthew Graham, chief of operations at Mortgage News Daily.
  • 8:27 AM » Fed Taper Plan Brings Risk to Mortgage Debt Unseen in Treasuries - Bloomberg
    Published Fri, Aug 11 2017 8:27 AM by Bloomberg
    Bloomberg Fed Taper Plan Brings Risk to Mortgage Debt Unseen in Treasuries Bloomberg For all the talk that Janet Yellen's plan to shrink the Federal Reserve's balance sheet will hurt Treasuries, U.S. mortgage bonds face a bigger test. The securities are already lagging behind Treasuries for the first time since 2011. Investors are ...
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