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  • Tue, Mar 3 2015
  • 2:48 PM » Office Demand Exceeding New Supply
    Published Tue, Mar 03 2015 2:48 PM by WSJ
    The rate of business expansion is far outpacing the rate of new office building development, according to a new report from CBRE Group Inc.
  • 2:48 PM » Consumer spending is due for a pop
    Published Tue, Mar 03 2015 2:48 PM by CNBC
    The consensus among economists on Wall Street and at the Federal Reserve is that consumer spending will begin to increase in the coming months.
  • 2:46 PM » Retail Landlords Are the Least Optimistic
    Published Tue, Mar 03 2015 2:46 PM by WSJ
    Investors in retail buildings are the least optimistic commercial property owners.
  • 2:37 PM » Actavis stuns market with US$21bn mega-bond
    Published Tue, Mar 03 2015 2:37 PM by www.ubs.wallst.com
    Pharma giant Actavis amassed more than US$90bn of orders for its mega-deal on Tuesday, as investors shrugged off the company's credit ratings to get a piece of the second-largest bond ever. The US$21bn trade locked in low funding rates for Actavis, no mean feat for an acquisition-minded company hovering just one credit rating above junk status.
    Click Here to Read the Full Article

    Source: www.ubs.wallst.com
  • 1:52 PM » Property Tax Rates Highest for Homeowners Who Have Owned Between Five and 15 Years, Own High-End or Low-End Homes
    Published Tue, Mar 03 2015 1:52 PM by RealtyTrac
    March 3, 2015 - RealtyTrac® (www.realtytrac.com), the nation's leading source for comprehensive housing data, today released a its first-ever U.S. Property Tax Rates Report for 2014, which provides average property taxes and effective property tax rates for single family homes in more than 1,000 counties nationwide as well as by state and metropolitan statistical area.
  • 12:00 PM » JPMorgan to pay $50 million over improper mortgage practices: DOJ
    Published Tue, Mar 03 2015 12:00 PM by Reuters
    WASHINGTON (Reuters) - JPMorgan Chase will pay $50 million as part of a national settlement agreement to compensate homeowners in bankruptcy over the use of robo-signing and other improper practices, the Department of Justice said on Tuesday.
  • 12:00 PM » Are markets ready for a rate hike?
    Published Tue, Mar 03 2015 12:00 PM by CNBC
    Rick Rieder, Jamie Dinan and Kyle Bass all think Janet Yellen is finally going to move rates in June.
  • 10:33 AM » Real Estate Crowdfunding Seen Topping $2.5 Billion in '15
    Published Tue, Mar 03 2015 10:33 AM by Bloomberg
    Real Estate Crowdfunding Seen Topping $2.5 Billion in '15 Bloomberg (Bloomberg) -- Crowdfunding for real estate is likely to jump to $2.57 billion worldwide this year, two and a half times the total in 2014, as more people become comfortable with the investing model, research company Massolution said. Property crowdfunding ... and more »
  • 10:32 AM » CoreLogic: House Prices up 5.7% Year-over-year in January
    Published Tue, Mar 03 2015 10:32 AM by Calculated Risk Blog
    Notes: This CoreLogic House Price Index report is for January . The recent Case-Shiller index release was for December. The CoreLogic HPI is a three month weighted average and is not seasonally adjusted (NSA). From CoreLogic: Home Prices Up 5 Percent Year Over Year for December 2014 CoreLogic® ... today released its January 2015 CoreLogic Home Price Index (HPI®) which shows that home prices nationwide, including distressed sales, increased 5.7 percent in January 2015 compared to January 2014 . This change represents 35 months of consecutive year-over-year increases in home prices nationally. On a month-over-month basis, home prices nationwide, including distressed sales, increased by 1.1 percent in January 2015 compared to December 2014. Including distressed sales, 27 states and the District of Columbia are at or within 10 percent of their peak. Four states, New York (+5.6), Wyoming (+8.3 percent), Texas (+8.3 percent) and Colorado (+9.1 percent), reached new highs in the home price index since January 1976 when the index starts. Excluding distressed sales, home prices increased 5.6 percent in January 2015 compared to January 2014 and increased 1.4 percent month over month compared to December 2014. ... " We continue to see a strong and progressive uptick in home prices as we enter 2015 . We project home prices will continue to rise throughout the year and into 2016," said Anand Nallathambi, president and CEO of CoreLogic. " A dearth of supply in many parts of the country is a big factor driving up prices . Many homeowners have taken advantage of low rates to refinance their homes, and until we see sustained increases in income levels and employment they could be hunkered down so supplies may remain tight. Demand has picked up as low mortgage rates and the cut in the FHA annual insurance premium reduce monthly payments for prospective homebuyers." emphasis added Click on graph for larger image. This graph shows the national CoreLogic HPI...
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 10:32 AM » Freddie Mac Executes First 2015 Sale of Seriously Delinquent Loans From Its Investment Portfolio
    Published Tue, Mar 03 2015 10:32 AM by freddiemac.mwnewsroom.com
    Freddie Mac Executes First 2015 Sale of Seriously Delinquent Loans From Its Investment Portfolio
    Click Here to Read the Full Article

    Source: freddiemac.mwnewsroom.com
  • 9:12 AM » Ready, Fire, Aim … Let's Reform the Fed
    Published Tue, Mar 03 2015 9:12 AM by blogs.wsj.com
    Wall Street Journal (blog) Grand Central: Ready, Fire, Aim Let's Reform the Fed Wall Street Journal (blog) -By Jon Hilsenrath . MORNING MINUTES: KEY DEVELOPMENTS AROUND THE WORLD. Foreign Banks Brace for Fed Stress Test. The Federal Reserve's growing scrutiny of global banks has set off a scramble among foreign firms as they staff up and ...
    Click Here to Read the Full Article

    Source: blogs.wsj.com
  • 9:00 AM » JPMorgan Chase tilts towards consumer
    Published Tue, Mar 03 2015 9:00 AM by CNBC
    Investment banks are looking to grow their consumer side. New York Times reports.
  • 8:59 AM » Oil prices rise as global markets firm, dollar comes off highs
    Published Tue, Mar 03 2015 8:59 AM by Reuters
    SINGAPORE (Reuters) - Brent crude futures rose above $60 a barrel on Tuesday, after a sharp drop in the previous session on record U.S. stocks, as firm Asian markets supported prices.
  • 8:59 AM » Greece's Bailout Extension No Panacea for Struggling Bond Market
    Published Tue, Mar 03 2015 8:59 AM by Bloomberg
    Greece's Bailout Extension No Panacea for Struggling Bond Market Bloomberg (Bloomberg) -- One week after euro-area finance ministers agreed to extend Greece's bailout, the nation's government bonds are showing no sign of moving above where they were when the anti-austerity Syriza party was elected. Greek 10-year securities ...
  • Mon, Mar 2 2015
  • 8:31 PM » Tuesday: February Auto Sales
    Published Mon, Mar 02 2015 8:31 PM by Calculated Risk Blog
    On mortgage rates from Matthew Graham at Mortgage News Daily: Mortgage Rates Back up to 3.875 Percent What had been 3.75% on Friday is now 3.875% in terms of the most prevalent conventional 30yr fixed rates for top tier scenarios. CR Note: The Ten Year yield increased to 2.08% today from 2.00% on Friday. Tuesday: • All day, Light vehicle sales for February. The consensus is for light vehicle sales to increase to 16.7 million SAAR in February from 16.6 million in January (Seasonally Adjusted Annual Rate). • At 8:15 PM, Speech, Fed Chair Janet L. Yellen , Bank Regulation and Supervision, At the Citizens Budget Commission's Annual Awards Dinner, New York, New York
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 8:31 PM » A Blizzard of Housing Data, but the Forecast Is Sunny
    Published Mon, Mar 02 2015 8:31 PM by www.realtor.com
    There was a blizzard of housing reports last week, but the data point to a hotter spring market, just around the corner. The post A Blizzard of Housing Data, but the Forecast Is Sunny appeared first on Top News .
    Click Here to Read the Full Article

    Source: www.realtor.com
  • 8:30 PM » Google's New Mortgage Calculator Is a Good—If Simple—Start
    Published Mon, Mar 02 2015 8:30 PM by www.realtor.com
    Google's new mortgage calculator is simple, solid-and a good illustration of why we always recommend speaking IRL to a professional. The post Google’s New Mortgage Calculator Is a Good-If Simple-Start appeared first on Top News .
    Click Here to Read the Full Article

    Source: www.realtor.com
  • 8:30 PM » Ocwen Seeks Options, Sees Goodwill Charge Up to $420 Million
    Published Mon, Mar 02 2015 8:30 PM by Bloomberg
    Ocwen Seeks Options, Sees Goodwill Charge Up to $420 Million Bloomberg (Bloomberg) -- Ocwen Financial Corp. recorded an additional $50 million expense tied to a settlement with New York's financial regulator and expects to take a non-cash goodwill charge of as much as $420 million in the fourth quarter. The mortgage servicer ... and more »
  • 4:49 PM » Yields rise as corporate debt sales weigh
    Published Mon, Mar 02 2015 4:49 PM by Reuters
    U.S. Treasury yields rose on Monday as large sales of corporate debt pressured prices and as investors continued to question whether the Federal Reserve is likely to raise interest rates in the coming months. Pharmaceutical company Actavis on Monday was marketing bonds that are expected to total $22 billion, the second largest amount ever sold by a corporate borrower.
  • 4:19 PM » Fannie Mae: Mortgage Serious Delinquency rate declined in January, Lowest since September 2008
    Published Mon, Mar 02 2015 4:19 PM by Calculated Risk Blog
    Fannie Mae reported today that the Single-Family Serious Delinquency rate declined slightly in January to 1.86% from 1.89% in December. The serious delinquency rate is down from 2.33% in January 2014, and this is the lowest level since September 2008. The Fannie Mae serious delinquency rate peaked in February 2010 at 5.59%. Last week, Freddie Mac reported that the Single-Family serious delinquency rate was declined in January to 1.86%. Freddie's rate is down from 2.34% in January 2014, and is at the lowest level since December 2008. Freddie's serious delinquency rate peaked in February 2010 at 4.20%. Note: These are mortgage loans that are "three monthly payments or more past due or in foreclosure". Click on graph for larger image The Fannie Mae serious delinquency rate has fallen 0.47 percentage points over the last year - the pace of improvement has slowed - and at that pace the serious delinquency rate will be under 1% in late 2016. The "normal" serious delinquency rate is under 1%, so maybe serious delinquencies will be close to normal at the end of 2016.  This elevated delinquency rate is mostly related to older loans - the lenders are still working through the backlog, especially in judicial foreclosure states like Florida.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 3:54 PM » Mixed messages on third Greek bailout talks
    Published Mon, Mar 02 2015 3:54 PM by Reuters
    MADRID/ATHENS (Reuters) - Euro zone countries are discussing a third bailout for Greece worth 30 billion to 50 billion euros, Spain's economy minister said on Monday, but EU officials said there were no such talks.
  • 3:02 PM » Second Homes Survey: Signs of Overheating
    Published Mon, Mar 02 2015 3:02 PM by www.realtor.com
    The market for second homes is so tight from Aspen to Palm Beach that signs of speculative overheating are starting to show up. Even where markets appear soft, such as… (Read More) The post Second Homes Survey: Signs of Overheating appeared first on Top News .
    Click Here to Read the Full Article

    Source: www.realtor.com
  • 3:02 PM » Bernanke Says Fed Already Follows Policy Rule
    Published Mon, Mar 02 2015 3:02 PM by WSJ
    Former Federal Reserve Chairman Ben Bernanke said Monday Republican efforts to force the central bank to adopt an official policy rule to conduct interest policy are redundant because the Fed already sets out clear benchmarks for its interest rate actions
  • 3:02 PM » January Case-Shiller House Price Index year-over-year change expected to be about the same as in December
    Published Mon, Mar 02 2015 3:02 PM by Calculated Risk Blog
    The Case-Shiller house price indexes for December were released last Tuesday. Zillow forecasts Case-Shiller a month early - now including the National Index - and I like to check the Zillow forecasts since they have been pretty close. From Zillow: 10- & 20-City Case-Shiller Composites Expected to Show Declines In Jan. From Dec The December S&P/Case-Shiller (SPCS) data released [last] week showed healthy home price appreciation largely at pace with prior months, with annual growth in the U.S. National Index at 4.6 percent in December. Annual appreciation in home values as measured by SPCS has been less than 5 percent for the past four months. We anticipate this trend to continue as annual growth in home prices slows to more normal levels between 3 percent and 5 percent. Zillow predicts the U.S. National Index to rise 4.5 percent on an annual basis in January. The 10- and 20-City Composite Indices both experienced modest bumps in annual growth rates in December; the 10-City index rose to 4.3 percent and the 20-City Index rose to 4.5 percent - up from rates of 4.2 percent and 4.3 percent, respectively, in November. The non-seasonally adjusted (NSA) 10- and 20-City indices both rose 0.1 percent from November to December. We expect both to turn negative in January, with each predicted to fall 0.1 percent month-over-month (NSA). All forecasts are shown in the table below. These forecasts are based on the December SPCS data release and the January 2014 Zillow Home Value Index (ZHVI), released Feb. 19. Officially, the SPCS Composite Home Price Indices for January will not be released until Tuesday, March 31. So the year-over-year change in for January Case-Shiller index will probably be about the same, or a little lower, than in the December report. Zillow Case-Shiller Forecast   Case-Shiller Composite 10 Case-Shiller Composite 20 Case-Shiller National NSA SA NSA SA NSA SA December Actual YoY 4.3% 4.3% 4.5% 4.5% 4.6% 4.6% January Forecast YoY...
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 3:02 PM » Actavis Bond Offering Said to Get Orders Exceeding $70 Billion
    Published Mon, Mar 02 2015 3:02 PM by Bloomberg
    Actavis Bond Offering Said to Get Orders Exceeding $70 Billion Bloomberg (Bloomberg) -- Actavis Plc got more than $70 billion of orders for a bond offering that will help finance its purchase of Botox-maker Allergan Inc., as yield-starved debt investors swarm, according to a person with knowledge of the deal. That's more than three ... and more »
  • 1:52 PM » Fannie, Freddie Overseer Sets Rules for Sales of Delinquent Debt
    Published Mon, Mar 02 2015 1:52 PM by Bloomberg
    Fannie, Freddie Overseer Sets Rules for Sales of Delinquent Debt Bloomberg (Bloomberg) -- The Federal Housing Finance Agency released a set of new rules for the sale of troubled mortgages by U.S.- owned Fannie Mae and Freddie Mac. FHFA, which oversees the government-sponsored enterprises, will require prospective ... and more »
  • 12:16 PM » This Survey Says: We're About Ready for That Rate Hike, Janet
    Published Mon, Mar 02 2015 12:16 PM by Bloomberg
    This Survey Says: We're About Ready for That Rate Hike, Janet Bloomberg The Federal Reserve Bank of New York is curious what Wall Street bond traders are saying about the timing of the start of interest rate increases and how robust they think economic indicators will be at that time. Before each meeting of the Fed's policy-making ...
  • 12:16 PM » Philadelphia Fed Picks Patrick Harker, University of Delaware President, to Lead It
    Published Mon, Mar 02 2015 12:16 PM by rss.nytimes.com
    Mr. Harker, an engineer by training who has spent most of his career as an academic, has served on the Philadelphia Fed's board for three years.
    Click Here to Read the Full Article

    Source: rss.nytimes.com
  • 10:45 AM » US manufacturing hits 13-month-low
    Published Mon, Mar 02 2015 10:45 AM by CNBC
    The pace of U.S. manufacturing growth fell in February to its slowest in 13 months.
  • 10:43 AM » The mortgage market can tolerate twice as much credit risk
    Published Mon, Mar 02 2015 10:43 AM by Google News
    The Housing Finance Policy Center in December introduced a new measure of mortgage credit availability-the Credit Availability Index or HCAI. Today, we are releasing the results of our most recent HCAI analysis on loans made during the first three quarters of 2014. The HCAI measures the amount of default risk taken by the mortgage market […]
  • 10:42 AM » Bill Gross: Central banks have gone 'too far'
    Published Mon, Mar 02 2015 10:42 AM by CNBC
    Ultra-easy central bank monetary policies are about to come back to bite the global economy, bond guru Gross said in his latest letter to investors.
  • 10:41 AM » Director Cordray to testify on March 3 before House Financial Services Committee
    Published Mon, Mar 02 2015 10:41 AM by www.cfpbmonitor.com
    Barbara S. Mishkin The House Financial Services Committee will hold a hearing tomorrow, March 3, entitled "The Semi-Annual Report of the Bureau of Consumer Financial Protection" at which Director Cordray is expected to testify. The most recent report was issued in December 2014 and covered the period from April 1 through September 30, 2014. The report itself typically serves... More >
    Click Here to Read the Full Article

    Source: www.cfpbmonitor.com
  • 10:41 AM » U.S. construction spending falls in January
    Published Mon, Mar 02 2015 10:41 AM by Reuters
    WASHINGTON (Reuters) - U.S. construction spending unexpectedly fell in January as both private and public outlays fell, a government report showed on Monday.
  • 10:41 AM » Morgan Stanley Says New York Intends to Sue on 30 Subprime Deals
    Published Mon, Mar 02 2015 10:41 AM by Bloomberg
    Morgan Stanley Says New York Intends to Sue on 30 Subprime Deals Bloomberg (Bloomberg) -- Morgan Stanley said the New York Attorney General intends to sue the company, alleging the firm misrepresented or omitted information when it underwrote 30 subprime securitizations. The lawsuit will be brought under the state's Martin Act, ... and more »
  • 9:05 AM » Wells Fargo caps subprime auto loans
    Published Mon, Mar 02 2015 9:05 AM by CNBC
    Wells Fargo, one of the largest subprime car lenders, is pulling back from that roaring market.
  • 9:02 AM » US consumer spending falls in Jan
    Published Mon, Mar 02 2015 9:02 AM by CNBC
    U.S. consumer spending fell for a second straight month in January, as lower gasoline prices continued to weigh on receipts at service stations.
  • 8:44 AM » Personal Income increased 0.3% in January, Spending decreased 0.2%
    Published Mon, Mar 02 2015 8:44 AM by Calculated Risk Blog
    The BEA released the Personal Income and Outlays report for January: Personal income increased $50.8 billion, or 0.3 percent ... in January, according to the Bureau of Economic Analysis. Personal consumption expenditures (PCE) decreased $18.9 billion, or 0.2 percent. ... Real PCE -- PCE adjusted to remove price changes -- increased 0.3 percent in January, in contrast to a decrease of 0.1 percent in December. ... The price index for PCE decreased 0.5 percent in January, compared with a decrease of 0.2 percent in December. The PCE price index, excluding food and energy, increased 0.1 percent, compared with an increase of less than 0.1 percent. The following graph shows real Personal Consumption Expenditures (PCE) through January 2015 (2009 dollars). Note that the y-axis doesn't start at zero to better show the change . Click on graph for larger image. The dashed red lines are the quarterly levels for real PCE. The increase in personal income was lower than expected,  Also the increase in PCE was below the 0.1% decrease consensus.  The sharp decline in oil and gasoline prices pulled down PCE (and the PCE price index).  Even though PCE decreased, real PCE increased in January (as shown in the graph). On inflation: The PCE price index increased 0.2 percent year-over-year due to the sharp decline in oil prices. The core PCE price index (excluding food and energy) increased 1.3 percent year-over-year in January.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • Sun, Mar 1 2015
  • 11:16 PM » Despite Greece, euro zone is turning the corner
    Published Sun, Mar 01 2015 11:16 PM by Reuters
    LONDON (Reuters) - The latest episode of Greece's debt crisis has revived doubts about the long-term survival of the euro, nowhere more so than in London, Europe's main financial center and a hotbed of Euroskepticism.
  • 11:12 PM » ECB braces for QE as others shift rates
    Published Sun, Mar 01 2015 11:12 PM by Reuters
    BRUSSELS (Reuters) - Greek funding and quantitative easing in Europe, an expected rate cut in Australia and the buoyant U.S. labor market are set to be the focus of an economic week dominated by a host of central bank meetings.
  • 10:58 PM » Asia edges up after China rate cut, euro sags
    Published Sun, Mar 01 2015 10:58 PM by Reuters
    TOKYO (Reuters) - Asian stocks got off to a steady start on Monday as soft U.S. data was partially offset by a weekend interest rate cut by China, while the dollar hit a five-week high against the euro.
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