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  • Wed, Jul 27 2016
  • 3:31 PM » Freddie Mac Quarterly Apartment Investment Index Shows Strong Fundamentals in National and Local Markets
    Published Wed, Jul 27 2016 3:31 PM by freddiemac.mwnewsroom.com
    Freddie Mac Quarterly Apartment Investment Index Shows Strong Fundamentals in National and Local Markets
    Click Here to Read the Full Article

    Source: freddiemac.mwnewsroom.com
  • 2:21 PM » Fed appears more open to September rate hike
    Published Wed, Jul 27 2016 2:21 PM by Market Watch
    Fed officials said that near-term risks to the economy had diminished, opening the door a bit more for a rate hike as soon as September.
  • 2:20 PM » Fed leaves rates unchanged in July meeting
    Published Wed, Jul 27 2016 2:20 PM by CNBC
    The Federal Reserve opted Wednesday not to raise interest rates, despite painting a rosier economic picture than it did just a month ago.
  • 12:25 PM » Bond Report: Treasury yields fall to 2-week low as the Fed is set to update policy
    Published Wed, Jul 27 2016 12:25 PM by Market Watch
    Treasury prices gain Wednesday, pushing yields lower, as investors react to weaker-than-expected economic data ahead of a key Federal Reserve statement on monetary policy due in the afternoon.
  • 10:32 AM » Shipping Container Home May Be the First of Many in Houston
    Published Wed, Jul 27 2016 10:32 AM by www.realtor.com
    Right now, there's just this one shipping container home on the market. But if the developer has his way, there will be a whole community in Houston, TX. The post Shipping Container Home May Be the First of Many in Houston appeared first on Real Estate News and Advice - realtor.com .
    Click Here to Read the Full Article

    Source: www.realtor.com
  • 9:01 AM » Could subprime auto loans lead to same economic catastrophe as risky mortgages?
    Published Wed, Jul 27 2016 9:01 AM by Market Watch
    The auto-loan market has been called "stretched," but it's far from being the powder keg that the mortgage market was when the globe plunged into a financial crisis some eight years ago, loan and credit experts emphasized.
  • 9:00 AM » US core capital goods orders rise modestly; overall orders weak
    Published Wed, Jul 27 2016 9:00 AM by CNBC
    Weak demand for machinery and a range of other goods suggested business spending will remain subdued for a while.
  • 8:34 AM » Silicon Valley Elites Get Home Loans With No Money Down
    Published Wed, Jul 27 2016 8:34 AM by Bloomberg
    Silicon Valley Elites Get Home Loans With No Money Down Bloomberg It turns out that even the well-off need help in a housing market as crazy as the one in the San Francisco Bay area, and lenders are elbowing each other in a rush to provide it. They're courting Silicon Valley workers with tailored loans, guaranteed 24 ... and more »
  • Tue, Jul 26 2016
  • 6:01 PM » Dovish Wall Street Now Sees Just One Rate Hike This Year
    Published Tue, Jul 26 2016 6:01 PM by CNBC
    The doves have taken flight on Wall Street with expectations for continued easy monetary policy from the Federal Reserve soaring to new heights. "Brexit will keep the Fed from acting next week, and given the Fed's proclivity to keep rates unchanged before a U.S. presidential election, we won't see a rate hike until December at the earliest," Rob Morgan, chief...
  • 5:52 PM » Freddie Mac Issues Monthly Volume Summary for June 2016
    Published Tue, Jul 26 2016 5:52 PM by freddiemac.mwnewsroom.com
    Freddie Mac Issues Monthly Volume Summary for June 2016
    Click Here to Read the Full Article

    Source: freddiemac.mwnewsroom.com
  • 5:51 PM » Fannie Mae Enhances HomeReady Mortgage to Expand Access to Credit for Eligible Borrowers
    Published Tue, Jul 26 2016 5:51 PM by Fannie Mae
    Fannie Mae announced enhancements to HomeReady, the affordable mortgage option designed to meet the diverse needs of today's borrowers.
  • 4:20 PM » Real Prices and Price-to-Rent Ratio in May
    Published Tue, Jul 26 2016 4:20 PM by Calculated Risk Blog
    Here is the earlier post on Case-Shiller: Case-Shiller: National House Price Index increased 5.0% year-over-year in May The year-over-year increase in prices is mostly moving sideways now around 5%. In May, the index was up 5.0% YoY. In the earlier post , I graphed nominal house prices, but it is also important to look at prices in real terms (inflation adjusted).  Case-Shiller, CoreLogic and others report nominal house prices.  As an example, if a house price was $200,000 in January 2000, the price would be close to $275,000 today adjusted for inflation (37%).  That is why the second graph below is important - this shows "real" prices (adjusted for inflation). It has been almost ten years since the bubble peak.  In the Case-Shiller release this morning, the National Index was reported as being 2.8% below the bubble peak.    However, in real terms, the National index is still about 17.1% below the bubble peak. Nominal House Prices The first graph shows the monthly Case-Shiller National Index SA, the monthly Case-Shiller Composite 20 SA, and the CoreLogic House Price Indexes (through May) in nominal terms as reported. In nominal terms, the Case-Shiller National index (SA) is back to November 2005 levels, and the Case-Shiller Composite 20 Index (SA) is back to June 2005 levels, and the CoreLogic index (NSA) is back to June 2005. Real House Prices The second graph shows the same three indexes in real terms (adjusted for inflation using CPI less Shelter). Note: some people use other inflation measures to adjust for real prices. CPI less Shelter has declined over the last two years pushing up real house prices. In real terms, the National index is back to January 2004 levels, the Composite 20 index is back to October 2003, and the CoreLogic index back to November 2003. In real terms, house prices are back to late 2003 levels. Price-to-Rent In October 2004, Fed economist John Krainer and researcher Chishen...
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 2:15 PM » Why Aren't More New Homes Selling When Demand Is Soaring?
    Published Tue, Jul 26 2016 2:15 PM by www.realtor.com
    Despite the hordes of buyers hoping to take advantage of low mortgage interest rates, builders still aren't putting up enough new homes to meet the demand. The post Why Aren’t More New Homes Selling When Demand Is Soaring? appeared first on Real Estate News and Advice - realtor.com .
    Click Here to Read the Full Article

    Source: www.realtor.com
  • 1:13 PM » El-Erian: Market Too Complacent About Fed Rates
    Published Tue, Jul 26 2016 1:13 PM by Bloomberg
    Bloomberg El-Erian: Market Too Complacent About Fed Rates Bloomberg Mohamed El-Erian, chief economic adviser at Allianz, discusses his expectations for what we'll hear from the Federal Reserve, Fed influence over markets, and the disconnect between markets and fundamentals. He speaks on "Bloomberg Markets." (El-Erian ... and more »
  • 12:22 PM » A few Comments on June New Home Sales
    Published Tue, Jul 26 2016 12:22 PM by Calculated Risk Blog
    The new home sales report for June was strong at 592,000 on a seasonally adjusted annual rate basis (SAAR) - the highest since early 2008 - and combined sales for March, April and May were revised up by 22 thousand SAAR. Sales were up 25.4% year-over-year (YoY) compared to June 2015. And sales are up 10.1% year-to-date compared to the same period in 2015. Earlier: New Home Sales increased to 592,000 Annual Rate in June, Highest since 2008 . Click on graph for larger image. This graph shows new home sales for 2015 and 2016 by month (Seasonally Adjusted Annual Rate).  Sales to date are up 10.1% year-over-year, mostly because of the solid growth in Q2. There will probably be solid year-over-year growth in Q3 this year too. Overall   I expected lower growth this year , in the 4% to 8% range.  Slower growth seemed likely this year because  Houston (and other oil producing areas) will have a problem this year . And here is another update to the "distressing gap" graph that I first started posting a number of years ago to show the emerging gap caused by distressed sales.  Now I'm looking for the gap to close over the next several years. The "distressing gap" graph shows existing home sales (left axis) and new home sales (right axis) through June 2016. This graph starts in 1994, but the relationship had been fairly steady back to the '60s. Following the housing bubble and bust, the "distressing gap" appeared mostly because of distressed sales. I expect existing home sales to move more sideways, and I expect this gap to slowly close, mostly from an increase in new home sales. However, this assumes that the builders will offer some smaller, less expensive homes. If not, then the gap will persist. Note: Existing home sales are counted when transactions are closed, and new home sales are counted when contracts are signed. So the timing of sales is different.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 10:28 AM » U.S. new home sales rise to near eight-and-a-half year high in June
    Published Tue, Jul 26 2016 10:28 AM by Reuters
    WASHINGTON (Reuters) - New U.S. single-family home sales rose more than expected in June, reaching their highest level in nearly 8-1/2 years, the latest sign that the housing market was gathering momentum.
  • 9:04 AM » Black Knight's First Look at June Mortgage Data
    Published Tue, Jul 26 2016 9:04 AM by Calculated Risk Blog
    From Black Knight: Black Knight Financial Services' First Look at June Mortgage Data: Foreclosure Starts Up for Second Consecutive Month; Prepays Rise on Historically Low Rates • Despite June's increase, first-time foreclosure starts in Q2 2016 were at their lowest level in over 16 years • Prepayment speeds (historically a good indicator of refinance activity) jumped to a 12-month high, mirroring an overall rise in refinance activity driven by historically low interest rates • Early-stage delinquencies saw a seasonal increase in June, while 90-day delinquencies and foreclosure inventories continued to decline According to Black Knight's First Look report for June, the percent of loans delinquent increased 1.3% in June compared to May, and declined 10.0% year-over-year. The percent of loans in the foreclosure process declined 2.6% in June and were down 29.4% over the last year. Black Knight reported the U.S. mortgage delinquency rate (loans 30 or more days past due, but not in foreclosure) was 4.31% in June, up from 4.25% in May. The percent of loans in the foreclosure process declined in June to 1.10%. The number of delinquent properties, but not in foreclosure, is down 237,000 properties year-over-year, and the number of properties in the foreclosure process is down 231,000 properties year-over-year. Black Knight will release the complete mortgage monitor for June in early August. Black Knight: Percent Loans Delinquent and in Foreclosure Process   June 2016 May 2016 June 2015 June 2014 Delinquent 4.31% 4.25% 4.79% 5.71% In Foreclosure 1.10% 1.13% 1.56% 2.00% Number of properties: Number of properties that are delinquent, but not in foreclosure: 2,178,000 2,153,000 2,415,000 2,876,000 Number of properties in foreclosure pre-sale inventory: 558,000 574,000 789,000 1,006,000 Total Properties 2,736,000 2,727,000 3,204,000 3,882,000
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 9:04 AM » S&P/Case-Shiller: US home prices rise 5.2% in May; gains ease from prior month
    Published Tue, Jul 26 2016 9:04 AM by CNBC
    The pace of U.S. home price gains cooled off in May as regional patterns were seen shifting, according to the S&P/Case-Shiller monthly report.
  • 8:05 AM » CoreLogic Reports Second Quarter 2016 Financial Results
    Published Tue, Jul 26 2016 8:05 AM by www.corelogic.com
    Record Second Quarter Revenues, Operating Income and Net Income; Raising Financial Guidance and Share Repurchase Target for Full-Year 2016 Revenues up 30% to $500 million driven primarily by Valuation Solutions Group (VSG) launch, growth in insurance and spatial solutions, and share and pricing gains in Risk Management and Work Flow (RMW). Operating income from continuing operations up 24% to $76 million fueled by higher revenue and expense productivity benefits offset partially by reinvestment in technology and compliance, severance and acquisition-related transaction and integration costs. Net income from continuing operations up 22% to $40 million.  Diluted EPS from continuing operations of $0.45, up from $0.36 in 2015.  Adjusted EPS up 18% to $0.65 per share. Adjusted EBITDA up 15% to $136 million or 27% of revenues. Acquisition of FNC, Inc. (FNC) completed. Company raises full-year 2016 financial guidance and increases repurchase target to 3 million shares. CoreLogic (NYSE: CLGX), a leading global provider of property information, insight, analytics and data-enabled solutions, today reported financial results for the quarter ended June 30, 2016. “CoreLogic delivered an outstanding second quarter and first half operating performance. Revenues and profits grew at double-digit rates and we executed extremely well against our major operating imperatives including the VSG launch. We believe the VSG affords us with a unique value catalyst and an opportunity for strategic growth and leadership in a highly fragmented and challenged market space,” said Anand Nallathambi, President and Chief Executive Officer of CoreLogic. “We are entering the balance of 2016 with a clear pathway to accelerated growth as we deploy our unique data-driven solutions that, collectively, enable our current and future clients in the real estate ecosystem to more precisely underwrite and manage their risks and capitalize...
    Click Here to Read the Full Article

    Source: www.corelogic.com
  • 8:04 AM » Why It's So Hard to Build Affordable Housing: It's Not Affordable
    Published Tue, Jul 26 2016 8:04 AM by Bloomberg
    Bloomberg Why It's So Hard to Build Affordable Housing: It's Not Affordable Bloomberg A real estate developer wanted to increase affordable housing in Denver, trying to make fiscal sense out of a plan to build rental apartments for people making only 30 percent of the area's median income-the kind of housing America desperately needs. and more »
  • 8:03 AM » EverBank in 'Advanced' Takeover Talks With Undisclosed Bidder
    Published Tue, Jul 26 2016 8:03 AM by Bloomberg
    EverBank in 'Advanced' Takeover Talks With Undisclosed Bidder Bloomberg EverBank Financial Corp., the largest bank based in Florida by deposits, is in "advanced negotiations" to sell itself to an undisclosed bidder as U.S. regional lenders seek ways to cope with regulations and low interest rates. A "well-respected ... and more »
  • Mon, Jul 25 2016
  • 3:39 PM » BlackRock: Expect Lower Returns For Pretty Much Everything Over the Next Five Years
    Published Mon, Jul 25 2016 3:39 PM by Bloomberg
    Bloomberg BlackRock: Expect Lower Returns For Pretty Much Everything Over the Next Five Years Bloomberg Good luck trying to make double-digit returns. According to BlackRock Inc., it's going to be really hard for any asset class to give investors returns above a mere 6 percent in the coming years. In fact, according to BlackRock Inc.'s Global Chief ... and more »
  • 3:38 PM » Distressed Sales and All Cash Sales for Selected Cities in June
    Published Mon, Jul 25 2016 3:38 PM by Calculated Risk Blog
    Economist Tom Lawler sent me the table below of short sales, foreclosures and all cash sales for selected cities in June. On distressed: Total "distressed" share is down year-over-year in all of these markets. Short sales and foreclosures are down in all of these areas. The All Cash Share (last two columns) is mostly declining year-over-year. As investors continue to pull back, the share of all cash buyers continues to decline.   Short Sales Share Foreclosure Sales Share Total "Distressed" Share All Cash Share June- 2016 June- 2015 June- 2016 June- 2015 June- 2016 June- 2015 June- 2016 June- 2015 Las Vegas 4.4% 6.7% 5.9% 7.6% 10.3% 14.3% 27.0% 28.4% Reno*             18.1% 20.3% Omaha             15.1% 14.6% Pensacola             25.3% 31.6% Richmond VA     5.6% 7.6%     13.5% 13.8% Memphis     9.0% 11.4%         Springfield IL**     4.7% 5.6%     &nb
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 1:49 PM » The Fed: Wage growth may be about to reach seven-year high
    Published Mon, Jul 25 2016 1:49 PM by Market Watch
    Some measures of wage growth could hit the highest level in seven years when the employment cost index is released on Friday.
  • 1:49 PM » Fed with 'very, very low' credibility gets ready to talk policy
    Published Mon, Jul 25 2016 1:49 PM by CNBC
    The market has become more prone to take a "we'll believe it when we see it" attitude toward any moves in interest rates.
  • 1:48 PM » FOMC Preview: No Rate Hike, Possibly Preparing for September Rate Hike
    Published Mon, Jul 25 2016 1:48 PM by Calculated Risk Blog
    The FOMC will meet on Tuesday and Wednesday, and no change to policy is expected. There will no economic projections released at this meeting, and there is no scheduled press conference by Fed Chair Janet Yellen (in the unlikely event there is a change to policy, Yellen will probably hold a press conference). So the focus will be on the FOMC statement. Here is the first paragraph from the April FOMC statement : Information received since the Federal Open Market Committee met in March indicates that labor market conditions have improved further even as growth in economic activity appears to have slowed . Growth in household spending has moderated, although households' real income has risen at a solid rate and consumer sentiment remains high. Since the beginning of the year, the housing sector has improved further but business fixed investment and net exports have been soft. A range of recent indicators, including strong job gains, points to additional strengthening of the labor market . Inflation has continued to run below the Committee's 2 percent longer-run objective, partly reflecting earlier declines in energy prices and falling prices of non-energy imports. Market-based measures of inflation compensation remain low; survey-based measures of longer-term inflation expectations are little changed, on balance, in recent months. emphasis added And the first paragraph from the June FOMC statement : Information received since the Federal Open Market Committee met in April indicates that the pace of improvement in the labor market has slowed while growth in economic activity appears to have picked up . Although the unemployment rate has declined, job gains have diminished . Growth in household spending has strengthened. Since the beginning of the year, the housing sector has continued to improve and the drag from net exports appears to have lessened, but business fixed investment has been soft. Inflation has continued to run below the Committee's 2 percent longer...
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 10:34 AM » Fannie Mae Issues $10.1 Billion of Multifamily Securities
    Published Mon, Jul 25 2016 10:34 AM by Fannie Mae
    Fannie Mae Issues $10.1 Billion of Multifamily MBS in the Second Quarter of 2016.
  • 9:40 AM » Time to Build an Apartment Building in 2015
    Published Mon, Jul 25 2016 9:40 AM by eyeonhousing.org
    The average length of time to complete construction of a multifamily building, after obtaining authorization, was 14 months according to the 2015 Survey of Construction (SOC) from the Census Bureau. The permit-to-completion time increased by approximately one month from 2014 to 2015, as per unit median square footage and share of multifamily for sale rose.   The average time to... Read More ›
    Click Here to Read the Full Article

    Source: eyeonhousing.org
  • 8:14 AM » Relief for Renters Will Prolong Fed's Wait to Hit Inflation Goal
    Published Mon, Jul 25 2016 8:14 AM by Bloomberg
    Bloomberg Relief for Renters Will Prolong Fed's Wait to Hit Inflation Goal Bloomberg Welcome news for America's renters could be unhelpful for the Federal Reserve. Close all those tabs. Open this email. Get Bloomberg's daily newsletter. Sign Up. Politics. The latest political news, analysis, charts, and dispatches from the campaign trail.
  • 8:13 AM » US bonds decline ahead of Fed minutes – do Treasurys look appealing?
    Published Mon, Jul 25 2016 8:13 AM by CNBC
    U.S. Treasury bonds continued to decline on Monday, with yields creeping up towards levels reached around the Brexit vote on June 23.
  • 8:12 AM » The Future is still Bright!
    Published Mon, Jul 25 2016 8:12 AM by Calculated Risk Blog
    Three and a half years ago I wrote The Future's so Bright ... . In that post I outlined why I was becoming more optimistic. It is time for another update! For new readers: I was very bearish on the economy when I started this blog in 2005 - back then I wrote mostly about housing (see: LA Times article and more here for comments about the blog). I started looking for the sun in early 2009, and recently I've been more optimistic. Here are some updates to the graphs I posted 3+ years ago.  Several of these graphs have changed direction since that original post.  As example, state and local government employment is now increasing, and household deleveraging is over (as predicted). Click on graph for larger image. This graph shows total and single family housing starts. Even though starts are up about 150% from the bottom, starts are still below the average level of 1.5 million per year from 1959 through 2000. Demographics and household formation suggests starts will increase to around 1.5 million over the next few years. That means starts will probably increase another 25% or so from the June 2016 level of 1.19 million starts (SAAR). Residential investment and housing starts are usually the best leading indicator for the economy, so this suggests the economy will continue to grow. This graph shows total state and government payroll employment since January 2007. State and local governments lost 129,000 jobs in 2009, 262,000 in 2010, 217,000 in 2011, and 40,000 in 2012. Since January 2013, state and local employment has increased 259,000. So, in the aggregate, state and local government layoffs are over - and the economic drag on the economy is over.  However state and local government employment is still 464,000 below the pre-recession peak. And here is a graph on the US deficit. This graph, based on the CBO's recent projections, shows the actual (purple) budget deficit each year as a percent of GDP, and an estimate...
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 8:09 AM » Black Knight: House Price Index up 1.1% in May, Up 5.4% year-over-year
    Published Mon, Jul 25 2016 8:09 AM by Calculated Risk Blog
    Note: I follow several house price indexes (Case-Shiller, CoreLogic, Black Knight, Zillow, FHFA, FNC and more). Note: Black Knight uses the current month closings only (not a three month average like Case-Shiller or a weighted average like CoreLogic), excludes short sales and REOs, and is not seasonally adjusted . From Black Knight: Black Knight Home Price Index Report: May 2016 Transactions, U.S. Home Prices Up 1.1 Percent for the Month; Up 5.4 Percent Year-Over-Year • U.S. home prices were up 1.1% for the month, and 5.4% from a year ago • At $263K, the U.S. HPI is up nearly 32% from the bottom of the market at the start of 2012 and is now just 1.8% off its June 2006 peak • 15 of the 40 largest metros hit new peaks: ?Austin, TX ($303K) ?Boston, MA ($424K) ?Charlotte, NC ($209K) ?Columbus, OH ($183K) ?Dallas, TX ($234K) ?Denver, CO ($357K) ?Houston, TX ($227K) ?Kansas City, MO ($182K) ?Nashville, TN ($235K) ?Pittsburgh, PA ($194K) ?Portland, OR ($352K) ?San Antonio, TX ($202K) ?San Francisco, CA ($771K) ?San Jose, CA ($920K) ?Seattle, WA ($405K) The year-over-year increase in this index has been about the same for the last year.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 8:09 AM » The Best Cities to Invest in Real Estate on a Budget
    Published Mon, Jul 25 2016 8:09 AM by www.realtor.com
    Here's why aspiring real estate moguls may want to consider purchasing a rental residence in another, lower-priced city where prices and rents are rising. The post The Best Cities to Invest in Real Estate on a Budget appeared first on Real Estate News and Advice - realtor.com .
    Click Here to Read the Full Article

    Source: www.realtor.com
  • 8:09 AM » Yellen Still Waiting for Overwhelming Evidence to Warrant Hike
    Published Mon, Jul 25 2016 8:09 AM by Bloomberg
    Bloomberg Yellen Still Waiting for Overwhelming Evidence to Warrant Hike Bloomberg For Federal Reserve officials, getting better never seems to rise to good enough. Since the policy-setting Federal Open Market Committee last gathered six weeks ago, economic reports have shown one example of U.S. resilience after another following a ... and more »
  • Fri, Jul 22 2016
  • 3:44 PM » Food is ruling retail real estate, and food trucks are moving in
    Published Fri, Jul 22 2016 3:44 PM by CNBC
    E-commerce may be driving consumers away from shopping centers, but food is pulling them back in.
  • 3:43 PM » Treasuries' Selloff Momentum Stalls as Bond Bulls See a Rebound
    Published Fri, Jul 22 2016 3:43 PM by Bloomberg
    Treasuries' Selloff Momentum Stalls as Bond Bulls See a Rebound Bloomberg Treasuries erased losses, putting 10-year note yields on pace to end the week near where they started, in a win for bond bulls who speculated that the biggest selloff in a year wouldn't last even amid upbeat U.S. economic data. The benchmark yield has ...
  • 1:37 PM » Shots fired at Munich shopping center
    Published Fri, Jul 22 2016 1:37 PM by CNBC
    Shots have been fired at a shopping center in Munich, Germany, according to police, NBC News reports.
  • 1:13 PM » HMDA resources for data collected in 2017 and 2018
    Published Fri, Jul 22 2016 1:13 PM by www.cfpbmonitor.com
    Wendy Tran and Richard J. Andreano, Jr. As we have reported, the Consumer Financial Protection Bureau (CFPB) released a final rule amending Regulation C, which implements the Home Mortgage Disclosure Act (HMDA), requiring "Covered Institutions" to report certain information about mortgage applications and loans in efforts to create transparency in the mortgage lending process. In connection with the revisions, beginning with data... More >
    Click Here to Read the Full Article

    Source: www.cfpbmonitor.com
  • 11:14 AM » Eyes on Fed, BOJ, Europe's bank stress test
    Published Fri, Jul 22 2016 11:14 AM by Reuters
    FRANKFURT (Reuters) - Central banks from Washington to Tokyo take center stage next week, although policymakers are likely to remain cautious as they wait for the dust to settle from Britain's shock vote to leave the EU.
  • 11:14 AM » BLS: Unemployment Rates stable in 43 states in June
    Published Fri, Jul 22 2016 11:14 AM by Calculated Risk Blog
    From the BLS: Regional and State Employment and Unemployment Summary Unemployment rates were significantly higher in June in 6 states, lower in 1 state, and stable in 43 states and the District of Columbia , the U.S. Bureau of Labor Statistics reported today. ... South Dakota and New Hampshire had the lowest jobless rates in June , 2.7 percent and 2.8 percent, respectively. Alaska had the highest unemployment rate, 6.7 percent . emphasis added Click on graph for larger image. This graph shows the current unemployment rate for each state (red), and the max during the recession (blue). All states are well below the maximum unemployment rate for the recession. The size of the blue bar indicates the amount of improvement.   The yellow squares are the lowest unemployment rate per state since 1976. The states are ranked by the highest current unemployment rate. Alaska, at 6.7%, had the highest state unemployment rate. The second graph shows the number of states (and D.C.) with unemployment rates at or above certain levels since January 2006. At the worst of the employment recession, there were 11 states with an unemployment rate at or above 11% (red). Currently no state has an unemployment rate at or above 7% (light blue); Only seven states and D.C are at or above 6% (dark blue). The states at or above 6% are Alaska, Nevada, Illinois, Louisiana, New Mexico, Alabama and West Virginia.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
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