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  • Fri, Aug 28 2015
  • 3:27 PM » P2P lending gains popularity
    Published Fri, Aug 28 2015 3:27 PM by CNBC
    Peer-to-peer lending platforms offer investors a way to earn 5 to 10 percent on loans to online borrowers.
  • 3:27 PM » Fed's Lockhart says chances of rate hike '50-50' in September
    Published Fri, Aug 28 2015 3:27 PM by Market Watch
    Dennis Lockhart, the president of the Atlanta Fed, said that chances of a rate hike have come down since earlier in August and are now '50-50.' "That seems to me to be a reasonable assessment of the situation," Lockhart said in an interview on Bloomberg News. Earlier in August, Lockhart told the Wall Street Journal he was likely to support a rate hike in September. But Lockhart said the market volatility in recent days was a "new" risk factor. "It has to be considered an open question whether we move now or wait a little while," he said. The Fed has to evaluate how lower oil prices, market turmoil, and the stronger dollar will impact the Main Street economy.
  • 3:25 PM » Freddie Mac: Mortgage Serious Delinquency rate declined in July, Lowest since October 2008
    Published Fri, Aug 28 2015 3:25 PM by Calculated Risk Blog
    Freddie Mac reported that the Single-Family serious delinquency rate declined in July to 1.48%, down from 1.53% in June. Freddie's rate is down from 2.02% in July 2014, and the rate in July was the lowest level since October 2008. Freddie's serious delinquency rate peaked in February 2010 at 4.20%. These are mortgage loans that are "three monthly payments or more past due or in foreclosure".  Note: Fannie Mae will report their Single-Family Serious Delinquency rate for July next week. Click on graph for larger image Although the rate is declining, the "normal" serious delinquency rate is under 1%.  The serious delinquency rate has fallen 0.54 percentage points over the last year, and at that rate of improvement, the serious delinquency rate will not be below 1% until  mid-2016. So even though delinquencies and distressed sales are declining, I expect an above normal level of Fannie and Freddie distressed sales through 2016 (mostly in judicial foreclosure states).
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 1:41 PM » What hot housing markets could cool most come winter
    Published Fri, Aug 28 2015 1:41 PM by CNBC
    Houses have been flying off the shelves for the past six months, but the sales pace is starting to slow, and could in fact decelerate more dramatically in some of the hottest markets come winter. Critically competitive markets like San Francisco, Denver, Seattle and Boston historically slow down the most in winter, and that could be welcome news for bidding-weary buyers. While home sales are ...
  • 1:41 PM » 'Very tough' for Fed to normalize: Taleb
    Published Fri, Aug 28 2015 1:41 PM by CNBC
    The Fed faces a "very tough" task in normalizing monetary policy, as it has limited tools at its disposal, Nassim Taleb said.
  • 12:21 PM » Fed's Kocherlakota Sees Ways to Lower Rates Further
    Published Fri, Aug 28 2015 12:21 PM by Bloomberg
    Bloomberg Fed's Kocherlakota Sees Ways to Lower Rates Further Bloomberg Federal Reserve Bank of Minneapolis President Narayana Kocherlakota talks about U.S. inflation and monetary policy. He speaks in Jackson Hole, Wyoming, with Michael McKee and Brendan Greeley on Bloomberg Television's "Market Makers." (Source: ...
  • 12:20 PM » Fed's Fischer says still undecided on whether to hike in September
    Published Fri, Aug 28 2015 12:20 PM by Reuters
    WASHINGTON (Reuters) - The U.S. Federal Reserve is waiting to see how data and markets unfold over the coming weeks before deciding whether to raise interest rates at its September meeting, Vice Chair Stanley Fischer said on Friday.
  • 11:19 AM » China fears linger as focus on Fed sharpens
    Published Fri, Aug 28 2015 11:19 AM by Reuters
    LONDON (Reuters) - Fears over the health of China's economy kept world markets on edge this week and the country will remain in focus, along with the question of whether the Federal Reserve will raise interest rates next month.
  • 10:27 AM » Bullard: Volatility Won't Change Our Outlook Very Much
    Published Fri, Aug 28 2015 10:27 AM by Bloomberg
    Bloomberg Bullard: Volatility Won't Change Our Outlook Very Much Bloomberg Federal Reserve Bank of St. Louis President James Bullard talks about the impact in the United States of China's economic slowdown and what the market selloff means to Federal Reserve policy strategy. He speaks from the Jackson Hole economic ...
  • 10:26 AM » U.S. consumer sentiment falls in August
    Published Fri, Aug 28 2015 10:26 AM by Reuters
    NEW YORK (Reuters) - U.S. consumer sentiment fell in August, a survey released on Friday showed.
  • 10:00 AM » Stock funds post $17.8B outflows
    Published Fri, Aug 28 2015 10:00 AM by CNBC
    Investors in U.S.-based funds pulled $17.8 billion out of stock funds in the week ended Aug. 26 after a plunge in the stock markets.
  • 9:59 AM » Fed's Kocherlakota: 2015 rate rise not appropriate
    Published Fri, Aug 28 2015 9:59 AM by CNBC
    Federal Reserve Bank of Minneapolis President Narayana Kocherlakota said Friday he does not believe the Fed should raise interest this year.
  • 9:58 AM » Bove: Is a Fannie, Freddie settlement near?
    Published Fri, Aug 28 2015 9:58 AM by CNBC
    White House lawyers recently asked a federal court to grant them access to documents in the case between Fairholme Funds and the United States over Fannie Mae (OTCQB: FNMA) and Freddie Mac (OTCQB: FMCC). I think the unusual request suggests that the White House may be moving closer to a negotiated settlement in the multiple Fannie Mae lawsuits which will benefit shareholders in this company, ...
  • 8:40 AM » Treasury yields fall: Oil, Jackson Hole eyed
    Published Fri, Aug 28 2015 8:40 AM by CNBC
    U.S. government yields dipped lower Friday, as investors eyed the volatile ride in Asian stocks and crude oil and any significant soundbites from the Jackson Hole get-together of central bank policymakers. Early in the day, benchmark 10-year treasury bonds yielded 2.151 percent, down from 2.166 percent on Thursday. Thirty-year Treasury bonds yielded 2.884 percent, down from 2.902 percent. The ...
  • 8:40 AM » Treasuries Rally Turns to Rout in Week of Surging Volatility
    Published Fri, Aug 28 2015 8:40 AM by Bloomberg
    Treasuries Rally Turns to Rout in Week of Surging Volatility Bloomberg Treasuries headed for their biggest weekly loss since June as a rally turned into a rout in the most volatile trading in six months. U.S. government securities surged at the start of the week, briefly sending benchmark 10-year yields below 2 percent ... and more »
  • 8:40 AM » US consumer spending rises in July
    Published Fri, Aug 28 2015 8:40 AM by CNBC
    U.S. consumer spending picked up a bit in July as households bought more automobiles, offering further evidence of strength in the economy.
  • 8:40 AM » U.S. Housing: An Economic Bright Spot After a Wobbly Week
    Published Fri, Aug 28 2015 8:40 AM by The Atlantic
    Multiple signs are pointing to recovery and stability-which is refreshing after five days of stock market volatility.
  • 8:39 AM » Making Homeownership Less Exclusive
    Published Fri, Aug 28 2015 8:39 AM by The Atlantic
    A new program aims to help poor and minority families qualify for mortgages.
  • 8:39 AM » Need to Know: Never mind the market hiccup, here's the case for QE4 and Dow 25,000
    Published Fri, Aug 28 2015 8:39 AM by Market Watch
    This isn't your typical lazy summer Friday. Good luck to traders with the huevos to hold long positions over the weekend. In their favor, a surprisingly strong GDP report, a sharp rebound in equities, and the biggest bounce in crude in years have all helped to clear some of the dark clouds
  • 8:39 AM » MBA on Housing Demand from 2014 to 2024
    Published Fri, Aug 28 2015 8:39 AM by Calculated Risk Blog
    The Mortgage Bankers Association released a new report this week: Demographics and the Numbers Behind the Coming Multi-Million increase in Households by Lynn Fisher and Jamie Woodwell. The report has some great section titles such as "Demographics is Destiny" and "35 is the new 25". These are two topics I've written about extensively.  See: Demographics and Behavior and Are Multi-Family Housing Starts near a peak? The MBA estimates the number of households will increase by between 13.8 million and 15.8 million over the next decade. Add in some demolitions and some second home buying, and that would suggest housing starts of well over 1.5 million per year. Housing starts are running at about 1.1 million so far this year (1.2 million SAAR in July). This would suggest a further increase in starts. The MBA presents two scenarios (both seem plausible although I haven't checked the numbers). Under these conditions, the U.S. will see 15.9 million additional households - 12.7 million owner households (versus 10.3 million in scenario 1) and 3.1 million renter households (versus 5.6 million in scenario 1) - over the next ten years. Both scenarios suggest a shift to more owner built units (and more new home sales). Note: For a current look at household formation, economist Jed Kolko wrote last week: Who Is Actually Forming New Households?
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • Thu, Aug 27 2015
  • 4:24 PM » Protesters ask Fed to delay at Jackson Hole summit
    Published Thu, Aug 27 2015 4:24 PM by CNBC
    As the Federal Reserve 's annual policy summit kicked off Thursday, protesters urged the central bank to delay an interest rate hike and focus on wage growth. About 50 demonstrators gathered in Jackson Hole, Wyoming, holding signs reading "whose recovery is this" and "how many jobs do I have to work to be middle class?" Surrounded by the protesters, Nobel laureate economist Joseph Stiglitz ...
  • 4:24 PM » Money Pours Out of Emerging Markets at Rate Unseen Since Lehman
    Published Thu, Aug 27 2015 4:24 PM by Bloomberg
    Money Pours Out of Emerging Markets at Rate Unseen Since Lehman Bloomberg As markets from China to South Africa tumbled, they pulled $2.7 billion out of developing economies on Aug. 24. That matches a Sept. 17, 2008 exodus during the week Lehman Brothers went under. The collapse of the U.S. investment bank was a a seminal ... and more »
  • 3:10 PM » China official blames Fed for global market rout, not yuan
    Published Thu, Aug 27 2015 3:10 PM by Reuters
    BEIJING (Reuters) - Concerns over a possible U.S. rate rise by the Federal Reserve may have sparked a global stock market rout rather than the devaluation of China's yuan currency, a senior Chinese central bank official told Reuters on Thursday.
  • 3:09 PM » One of the Most Popular Doom Scenarios for the U.S. Economy Is Fizzling Out - Bloomberg
    Published Thu, Aug 27 2015 3:09 PM by Bloomberg
    One of the Most Popular Doom Scenarios for the U.S. Economy Is Fizzling Out Bloomberg For years, politicians, gloomy newsletter writers, and even some economists have been warning that the U.S. is at the mercy of China, because China owns so much Treasury debt. In 2010, a group called Citizens Against Government Waste made an ... and more »
  • 2:59 PM » The Scary Number Hiding Behind Today's GDP Party
    Published Thu, Aug 27 2015 2:59 PM by Bloomberg
    Bloomberg The Scary Number Hiding Behind Today's GDP Party Bloomberg The federal government today released two very different estimates of the U.S. economy's growth rate in the second quarter. The one that got all the attention was the robust 3.7 percent annual rate of increase in gross domestic product. Not many people ... and more »
  • 2:58 PM » #TBT Hot Tubs: Cool or Not?
    Published Thu, Aug 27 2015 2:58 PM by www.realtor.com
    Hot Tubs: Love 'em or hate 'em, they're a fixture in American homes. This #TBT is a nod to whirlpools old and new alike. The post #TBT Hot Tubs: Cool or Not? appeared first on Real Estate News and Advice - realtor.com .
    Click Here to Read the Full Article

    Source: www.realtor.com
  • 12:54 PM » How Central Bankers Are Twisting Classic Bond-Investing Logic
    Published Thu, Aug 27 2015 12:54 PM by Bloomberg
    Bloomberg How Central Bankers Are Twisting Classic Bond-Investing Logic Bloomberg The more central banks mess around with global bond markets, the more you have to question how you invest in bonds. Think safe-haven debt, such as U.S. Treasuries, will provide a hedge against losses on stocks? Not always. Or that central bankers ... and more »
  • 11:30 AM » Oil surges 7%, WTI rises above $41
    Published Thu, Aug 27 2015 11:30 AM by CNBC
    Oil jumped 7 percent on Thursday after a rally in equity markets and an unexpected fall in U.S. crude inventories.
  • 11:30 AM » Economic View: Rising Anxiety That Stocks Are Overpriced
    Published Thu, Aug 27 2015 11:30 AM by rss.nytimes.com
    There are reasons to question whether the recent sharp drop in an overactive stock market was enough, or whether a longer decline is ahead.
    Click Here to Read the Full Article

    Source: rss.nytimes.com
  • 10:39 AM » CFPB issues second monthly complaint report
    Published Thu, Aug 27 2015 10:39 AM by www.cfpbmonitor.com
    Barbara S. Mishkin The CFPB has issued its August 2015 complaint report, the second in its new series of monthly complaint reports. When it announced the launch of the new reports last month, the CFPB stated that each report would spotlight a particular product and geographic location. The August 2015 spotlights credit reporting complaints and complaints from consumers... More >
    Click Here to Read the Full Article

    Source: www.cfpbmonitor.com
  • 10:39 AM » US-China correlation? Not much...now
    Published Thu, Aug 27 2015 10:39 AM by CNBC
    History shows less-than-expected correlation between Chinese and U.S. stocks. At least for now.
  • 9:22 AM » Fed's George softens rate hike stance
    Published Thu, Aug 27 2015 9:22 AM by Reuters
    WASHINGTON (Reuters) - Kansas City Federal Reserve Bank President Esther George, who has been arguing for a near-term U.S. rate hike, said the Fed should now take a "wait and see" approach to hiking borrowing costs due to financial volatility and China's economic slowdown.
  • 9:22 AM » Jobless claims fall more than expected
    Published Thu, Aug 27 2015 9:22 AM by Reuters
    WASHINGTON, Aug 27 (Reuters) - The number of Americans filing new applications for unemployment benefits fell more than expected last week, pointing to a steadily firming labor market.
  • 9:22 AM » Economic Report: U.S. economy looks much stronger after upward revision to GDP report
    Published Thu, Aug 27 2015 9:22 AM by Market Watch
    The U.S. economy grew at a 3.7% annual rate in the second quarter - much stronger than originally estimated, according to the GDP data released Thursday.
  • 9:20 AM » Does Housing Take a Hit When Stocks Drop?
    Published Thu, Aug 27 2015 9:20 AM by www.realtor.com
    This week's dramatic stock market declines could make August one of the worst months for stocks. We look at what that means for the housing market. The post Does Housing Take a Hit When Stocks Drop? appeared first on Real Estate News and Advice - realtor.com .
    Click Here to Read the Full Article

    Source: www.realtor.com
  • 12:28 AM » Thursday: GDP, Unemployment Claims, Penidng Home Sales, Jackson Hole Symposium
    Published Thu, Aug 27 2015 12:28 AM by Calculated Risk Blog
    From Tim Duy: Dudley Puts The Kibosh On September Monday's action on Wall Street was too much for the Fed. That day, Atlanta Federal Reserve President Dennis Lockhart pulled back his previous dedication to a September rate hike earlier, reverting to only an expectation that rates rise sometimes this year. But today New York Federal Reserve President William Dudley explicitly called September into question. ... ... Bottom Line: The Fed has long argued that the timing of the first rate hike does not matter. I had thought so as well, but that is clearly no longer the case. A rate hike during a period of substantial financial market turmoil would matter a great deal. It looks like the Fed's plans to raise rate will once again be overtaken by events. I think the Fed is still data dependent, and the key will be if inflation picks up. This model is interesting , and suggests a slight pickup in inflation later this year and into 2016. Thursday: • All day: the Kansas City Fed Hosts Symposium in Jackson Hole , Wyoming (Thursday, Friday, and Saturday). • At 8:30 AM, Gross Domestic Product , 2nd quarter 2015 (second estimate). The consensus is that real GDP increased 3.2% annualized in Q2, revised up from 2.3% in the advance estimate. • At 8:30 AM, the initial weekly unemployment claims report will be released. The consensus is for 270 thousand initial claims, down from 277 thousand the previous week. • At 10:00 AM, Pending Home Sales Index for July. The consensus is for a 1.0% increase in the index. • At 11:00 AM, the Kansas City Fed manufacturing surve y for August.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • Wed, Aug 26 2015
  • 4:49 PM » Freddie Mac Issues Monthly Volume Summary for July 2015
    Published Wed, Aug 26 2015 4:49 PM by freddiemac.mwnewsroom.com
    Freddie Mac Issues Monthly Volume Summary for July 2015
    Click Here to Read the Full Article

    Source: freddiemac.mwnewsroom.com
  • 3:47 PM » Treasurys pare gains; China, Fed eyed
    Published Wed, Aug 26 2015 3:47 PM by CNBC
    Treasurys hit session lows as the market received new supply amid continued ongoing concerns about China and a possible Fed rate hike in September.
  • 1:40 PM » U.S. markets rise after wild seesaw trading in China
    Published Wed, Aug 26 2015 1:40 PM by Washington Post
    U.S. stocks rallied strongly Wednesday morning, following a volatile day in China. Some of those gains, however, faded by mid-day. Both the Dow Jones industrial average and the Standard & Poor's 500-stock index jumped by more than 2 percent at the open. Read full article >>
    Click Here to Read the Full Article

    Source: Washington Post
  • 1:40 PM » Dow's rally looks like what technicians call a 'dead cat bounce'
    Published Wed, Aug 26 2015 1:40 PM by Market Watch
    The Dow Jones Industrial Average's rally Tuesday is looking like what technicians refer to as a "dead cat bounce," which could be interpreted as worrisome for bulls. " Dead Cat Bounce (DCB) is a term for a failed rally after a sharp decline," according to the Market Technicians Association's Knowledge Base. The Dow was up 227 points in midday trade, but had been up as much as 434 points at the intraday high of 16,100.11, which was reached at about 9:34 a.m. Eastern. That high failed to reach Tuesday's high of 16,313, hit at 11:23 a.m., which in turned failed to reach the high of Monday's intraday bounce at 16,361, hit at 1:11 p.m. With Tuesday's apparent "dead cat bounce," the Dow turned a 442-point intraday gain into a closing loss of 205 points. Wednesday's bounce might look even more like a "dead cat" given that the Dow had tumbled 1,682 points over the past four sessions, producing the first-ever four-session streak of 200+-point declines.
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