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  • Fri, Sep 7 2018
  • 9:55 AM » Interest rate futures traders see more Fed hikes next year
    Published Fri, Sep 07 2018 9:55 AM by Reuters
    Bets are building that the Federal Reserve will follow this year's interest rate hikes with more next year after the U.S. government reported on Friday that the country's employers accelerated hiring in August and increased wages more than expected.
  • 9:39 AM » Where are the Nation's Older Homes?
    Published Fri, Sep 07 2018 9:39 AM by eyeonhousing.org
    In previous posts, NAHB examined the age of owner-occupied housing stocks at both national and state levels. The median age of owner-occupied homes in the U.S. stood at 37 years in 2016, based on the most recent available data. New York has the oldest owner-occupied housing stock among the 50 states. It is worthwhile to examine the age of owner-occupied... Read More ›
    Click Here to Read the Full Article

    Source: eyeonhousing.org
  • 9:16 AM » Rental Glut Sends Chill Through the Hottest US Housing Markets
    Published Fri, Sep 07 2018 9:16 AM by Bloomberg
    Bloomberg Rental Glut Sends Chill Through the Hottest US Housing Markets Bloomberg Seattle is known for its hip neighborhoods, soaring home prices, and being home to Amazon.com Inc., the world's most valuable company. So why is its rental housing market experiencing the most severe slowdown in the U.S.? Seattle-area median rents ... and more »
  • 8:38 AM » Wage growth posts recovery high in August; payroll growth also beats expectations
    Published Fri, Sep 07 2018 8:38 AM by CNBC
    Long-awaited wage growth posted a recovery high in August while payroll gains beat expectations and the unemployment rate held near a generational low of 3.9 percent, according to a Bureau of Labor Statistics report Friday.
  • 8:13 AM » U.S. job growth seen picking up, unemployment rate falling
    Published Fri, Sep 07 2018 8:13 AM by Reuters
    U.S. job growth seen picking up, unemployment rate falling
  • 8:02 AM » Rosengren says Fed should continue gradually raising rates
    Published Fri, Sep 07 2018 8:02 AM by CNBC
    Rosengren says Fed should continue gradually raising rates|| 105438195
  • 8:02 AM » New York Fed's Williams on Yield Curve, Neutral Rate
    Published Fri, Sep 07 2018 8:02 AM by Bloomberg
    Bloomberg New York Fed's Williams on Yield Curve, Neutral Rate Bloomberg John Williams left the helm of the Federal Reserve Bank of San Francisco to assume the same post at the New York Fed in June, boosting his role to vice chairman of the Federal Open Market Committee and giving him a permanent vote on monetary policy. and more »
  • 8:00 AM » Petitions for rehearing en banc filed in Fifth Circuit case finding FHFA is unconstitutionally structured
    Published Fri, Sep 07 2018 8:00 AM by www.consumerfinancemonitor.com
    In July 2018, in Collins v. Mnuchin, a Fifth Circuit panel found that the Federal Housing Finance Agency (FHFA) is unconstitutionally structured because it is excessively insulated from Executive Branch oversight. It determined that the appropriate remedy for the constitutional violation was to sever the provision of the Housing and Economic Recovery Act of 2008... Continue Reading
    Click Here to Read the Full Article

    Source: www.consumerfinancemonitor.com
  • Thu, Sep 6 2018
  • 3:52 PM » Trade war uncertainty drags on markets, world stock index down for fifth day
    Published Thu, Sep 06 2018 3:52 PM by Reuters
    MSCI's global stock index fell for a fifth straight day on Thursday and emerging market stocks were in their sixth day of declines as investors braced for an escalation in the trade war between the United States and China.
  • 3:51 PM » Forget HGTV: These Are the Surprising New Hottest Markets for Home Flipping
    Published Thu, Sep 06 2018 3:51 PM by www.realtor.com
    As prices spike in white-hot housing markets such as California and New York, many home flippers are heading for more profitable pastures. The post Forget HGTV: These Are the Surprising New Hottest Markets for Home Flipping appeared first on Real Estate News & Insights | realtor.com® .
    Click Here to Read the Full Article

    Source: www.realtor.com
  • 3:51 PM » House GOP's second phase of tax reform aims to make individual cuts permanent, boost retirement savings
    Published Thu, Sep 06 2018 3:51 PM by CNBC
    Earlier Wednesday, House Speaker Paul Ryan said he hopes to hold a floor vote on the plan later this month.
  • 1:50 PM » NY Fed's Williams says economy 'as good as it gets' for U.S. central bank
    Published Thu, Sep 06 2018 1:50 PM by Reuters
    BUFFALO, NY (Reuters) - Current economic conditions are "as good as it gets" for the U.S. central bank, a key policymaker said on Thursday, with steady inflation and low unemployment allowing the Federal Reserve to continue gradually raising rates.
  • 1:48 PM » Reported Shortage of Rough Carpentry Contractors Hits Record 90 Percent
    Published Thu, Sep 06 2018 1:48 PM by eyeonhousing.org
    Labor and subcontractor shortages became even more widespread in July of 2018 than they were a year earlier, according to single-family builders who responded to special questions on the survey for the NAHB/Well Fargo Housing Market Index. The July 2018 survey asked builders about shortages in 15 specific occupations that were either recommended by Home Builders Institute or other key... Read More ›
    Click Here to Read the Full Article

    Source: eyeonhousing.org
  • 12:54 PM » House Speaker says he has understanding with Trump to fund government
    Published Thu, Sep 06 2018 12:54 PM by Reuters
    U.S. House Speaker Paul Ryan said on Thursday he has a good understanding with President Donald Trump to fund the government by a Sept. 30 deadline, despite Trump's comments a day earlier that he would be willing to shut down government if Congress does not provide enough border security funding.
  • 12:04 PM » House Price Appreciation Slows in June
    Published Thu, Sep 06 2018 12:04 PM by eyeonhousing.org
    National home prices rose at a slower pace in June while local home price gains varied. Home prices in New York, Detroit and Chicago declined. The Case-Shiller U.S. National Home Price Index, reported by S&P Dow Jones Indices, rose at a seasonally adjusted annual growth rate of 3.8% in June, similar to the annual growth rate in May. It was... Read More ›
    Click Here to Read the Full Article

    Source: eyeonhousing.org
  • 11:52 AM » Las Vegas Real Estate in August: Sales Down 3% YoY, Inventory up 20% YoY
    Published Thu, Sep 06 2018 11:52 AM by Calculated Risk Blog
    This is a key former distressed market to follow since Las Vegas saw the largest price decline, following the housing bubble, of any of the Case-Shiller composite 20 cities. The Greater Las Vegas Association of Realtors reported Southern Nevada home prices hovering this summer, GLVAR housing statistics for August 2018 After climbing steadily since 2012, local home prices have been hovering this summer, with a report released today by the Greater Las Vegas Association of REALTORS® (GLVAR) showing prices back to where they were in May. ... The total number of existing local homes, condos and townhomes sold during August was 3,881 . Compared to one year ago, August sales were down 6.4 percent for homes, but up 11.0 percent for condos and townhomes. Overall, he said sales so far this year remain behind last year's pace. ... Meanwhile, Bishop said the housing supply increased in August , which he called good news for potential buyers. However, he said Southern Nevada still has less than a two-month supply of existing homes available for sale when a six-month supply would be a balanced market. By the end of August, GLVAR reported 5,818 single-family homes listed for sale without any sort of offer. That's up from July and up 12.8 percent from one year ago. For condos and townhomes, the 1,184 properties listed without offers in August represented a 73.4 percent increase from one year ago . ... The number of so-called distressed sales continues to drop. GLVAR reported that short sales and foreclosures combined accounted for just 2.5 percent of all existing local home sales in August, down from 6.1 percent of all sales one year ago. emphasis added 1) Overall sales were down 3.3% year-over-year from 4,012 in August 2017 to 3,881 in August 2018. 2) Active inventory (single-family and condos) is up slightly from a year ago, from a total of 5,840 in August 2017 to 7,002 in August 2018. Note: Total inventory was up 19.9% year-over-year.   This is a significant...
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 11:33 AM » Justice Department probing Wells Fargo's wholesale banking unit: WSJ
    Published Thu, Sep 06 2018 11:33 AM by Reuters
    The U.S. Justice Department is probing whether employees committed fraud in Wells Fargo & Co's wholesale banking unit, following revelations that employees improperly altered customer information, the Wall Street Journal reported on Thursday, citing people familiar with the matter.
  • 11:12 AM » CFPB files proposed Rule 54(b) judgment in RD Legal case
    Published Thu, Sep 06 2018 11:12 AM by www.consumerfinancemonitor.com
    The CFPB has filed a proposed Rule 54(b) judgment in the RD Legal Funding case. The proposed judgment provides that "for the reasons stated in the Court's June 21, 2018 Order, (ECF No. 80), final judgment is hereby entered pursuant to Rule 54(b) against the Consumer Financial Protection Bureau and in favor of Defendants [RD... Continue Reading
    Click Here to Read the Full Article

    Source: www.consumerfinancemonitor.com
  • 10:49 AM » U.S. factory orders fall in July on weak aircraft demand
    Published Thu, Sep 06 2018 10:49 AM by Reuters
    New orders for U.S.-made goods fell slightly more than expected in July, weighed down by weak demand for aircraft, but signs of a pickup in business spending suggested that the manufacturing sector remained on solid ground.
  • 10:08 AM » ISM Non-Manufacturing Index increased to 58.5% in August
    Published Thu, Sep 06 2018 10:08 AM by Calculated Risk Blog
    The August ISM Non-manufacturing index was at 58.5%, up from 55.7% in July. The employment index increased in August to 56.7%, from 56.1%. Note: Above 50 indicates expansion, below 50 contraction. From the Institute for Supply Management: August 2018 Non-Manufacturing ISM Report On Business® Economic activity in the non-manufacturing sector grew in August for the 103rd consecutive month, say the nation's purchasing and supply executives in the latest Non-Manufacturing ISM® Report On Business®. The report was issued today by Anthony Nieves, CPSM, C.P.M., A.P.P., CFPM, Chair of the Institute for Supply Management® (ISM®) Non-Manufacturing Business Survey Committee: " The NMI® registered 58.5 percent , which is 2.8 percentage points higher than the July reading of 55.7 percent. This represents continued growth in the non-manufacturing sector at a faster rate. The Non-Manufacturing Business Activity Index increased to 60.7 percent, 4.2 percentage points higher than the July reading of 56.5 percent, reflecting growth for the 109th consecutive month, at a faster rate in August. The New Orders Index registered 60.4 percent, 3.4 percentage points higher than the reading of 57 percent in July. The Employment Index increased 0.6 percentage point in August to 56.7 percent from the July reading of 56.1 percent. The Prices Index decreased by 0.6 percentage point from the July reading of 63.4 percent to 62.8 percent, indicating that prices increased in August for the 30th consecutive month. According to the NMI®, 16 non-manufacturing industries reported growth. There was a strong rebound for the non-manufacturing sector in August after growth 'cooled off' in July. Logistics, tariffs and employment resources continue to have an impact on many of the respective industries. Overall, the respondents remain positive about business conditions and the economy." emphasis added Click on graph for larger image. This graph shows the ISM non...
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 9:38 AM » U.S., Canadian trade negotiators set for second day of talks
    Published Thu, Sep 06 2018 9:38 AM by Reuters
    Top U.S. and Canadian trade negotiators were set for a second day of talks on Thursday over a revised North American Free Trade Agreement after their subordinates worked late into the night to flesh out opportunities for a compromise deal.
  • 8:27 AM » ADP: Private Employment increased 163,000 in August
    Published Thu, Sep 06 2018 8:27 AM by Calculated Risk Blog
    From ADP: Private sector employment increased by 163,000 jobs from July to August according to the August ADP National Employment Report®. ... The report, which is derived from ADP's actual payroll data, measures the change in total nonfarm private employment each month on a seasonally-adjusted basis. ... "Although we saw a small slowdown in job growth the market remains incredibly dynamic," said Ahu Yildirmaz, vice president and co-head of the ADP Research Institute. "Midsized businesses continue to be the engine of growth, adding nearly 70 percent of all jobs this month, and remain resiliant in the current economic climate." Mark Zandi, chief economist of Moody's Analytics, said, "The job market is hot. Employers are aggressively competing to hold onto their existing workers and to find new ones. Small businesses are struggling the most in this competition, as they increasingly can't fill open positions." This was below the consensus forecast for 182,000 private sector jobs added in the ADP report.  The BLS report for August will be released Friday, and the consensus is for 198,000 non-farm payroll jobs added in August.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 8:08 AM » Two More Fed Hikes Could Trigger a Bear Market, Stifel Says
    Published Thu, Sep 06 2018 8:08 AM by Bloomberg
    Bloomberg Two More Fed Hikes Could Trigger a Bear Market, Stifel Says Bloomberg The Federal Reserve may trigger a U.S. equity bear market after two more interest-rate increases, according to the brokerage Stifel Nicolaus. If expectations of two more Fed hikes in 2018 are correct, then an indicator based on the so-called neutral ...
  • 8:03 AM » Home Buyers Find That It May Be More Affordable to Buy 2 Homes Than 1
    Published Thu, Sep 06 2018 8:03 AM by www.realtor.com
    Accessory dwelling units have been catching on as a way to combat the housing shortage-and give potential home buyers a much-needed break. The post Home Buyers Find That It May Be More Affordable to Buy 2 Homes Than 1 appeared first on Real Estate News & Insights | realtor.com® .
    Click Here to Read the Full Article

    Source: www.realtor.com
  • 8:02 AM » A decade after housing crash, Fannie Mae and Freddie Mac are Uncle Sam's cash cows
    Published Thu, Sep 06 2018 8:02 AM by CNBC
    The bailout of Fannie and Freddie saved the housing market, but the two are still under government control. Now the question is how to get them out.
  • Wed, Sep 5 2018
  • 3:52 PM » Ryan Says Vote on New Tax Cuts Still Planned, Despite SALT Hangups
    Published Wed, Sep 05 2018 3:52 PM by Bloomberg
    Bloomberg Ryan Says Vote on New Tax Cuts Still Planned, Despite SALT Hangups Bloomberg House GOP leaders are forging ahead with a vote on a second phase of tax cuts this month, despite dissension from Republicans in high-tax states who say the measure would hurt their voters. The legislation would make permanent all the individual ... and more »
  • 3:50 PM » This map shows where in the US you need to make over $5,500 a month to rent the average home
    Published Wed, Sep 05 2018 3:50 PM by CNBC
    HowMuch.net determined that, in some states, families need to make upward of $80,000 or $90,000 a year to afford average rent.
  • 2:39 PM » Treasury, FHFA Chiefs Preparing for Freddie CEO's Exit
    Published Wed, Sep 05 2018 2:39 PM by Bloomberg
    Treasury, FHFA Chiefs Preparing for Freddie CEO's Exit Bloomberg The Treasury Department and a key housing regulator are preparing to fill a second possible vacancy atop a U.S.-controlled mortgage giant, a move that could strengthen the Trump administration's hand in addressing unfinished business from the 2008 ... and more »
  • 11:55 AM » U.S. Light Vehicle Sales at 16.7 million annual rate in August
    Published Wed, Sep 05 2018 11:55 AM by Calculated Risk Blog
    Based on a preliminary estimate from AutoData, light vehicle sales were at a 16.7 million SAAR in August. Note: All other data from the BEA (the BEA will report this month's sales soon). That is up 1.5% year-over-year from August 2017, and unchanged from last month. Click on graph for larger image. This graph shows the historical light vehicle sales from the BEA (blue) and an estimate for August (red, light vehicle sales of 16.7 million SAAR  from AutoData). Note that this was an easy comparison to last August, since sales in August 2017 were negatively impacted by hurricanes.  The increase in sales at the end of 2017 was due to buying following the hurricanes. Sales will probably decline in 2018 after setting new sales records in both 2015 and 2016. The second graph shows light vehicle sales since the BEA started keeping data in 1967. Note: dashed line is current estimated sales rate. This was below the consensus forecast for August.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 11:39 AM » White House says wages are growing faster than 'traditional measures' indicate
    Published Wed, Sep 05 2018 11:39 AM by CNBC
    Many of the ways that wages are measured are underestimating the amount of gains for American workers, the White House said Wednesday in a report. Worker compensation adjusted for inflation and taxes has increased between 1.4 percent and 1.9 percent over the past year, an analysis from the Council of Economic Advisers maintained in response to headline gauges that suggest real wages essentially have been flat.
  • 11:31 AM » It's better to rent than to buy in today's housing market
    Published Wed, Sep 05 2018 11:31 AM by CNBC
    Fast-rising home prices and higher mortgage rates have made it both cheaper and a better investment to rent a home than to buy one. The monthly costs of buying and owning a home are up 14 percent over the past year. Rents are up just 4 percent.
  • 10:55 AM » US Trade Gap Widens Most Since 2015; China Deficit Hits Record
    Published Wed, Sep 05 2018 10:55 AM by Bloomberg
    Bloomberg US Trade Gap Widens Most Since 2015; China Deficit Hits Record Bloomberg The U.S. trade deficit widened in July by the most in three years and the gap with China hit a record as the Trump administration imposed tariffs on a range of Chinese goods, prompting retaliatory levies from Beijing. The gap increased 9.5 percent to ... and more »
  • 10:23 AM » Ten Years After Lehman—Lessons Learned and Challenges Ahead
    Published Wed, Sep 05 2018 10:23 AM by IMF
    By Christine Lagarde September 5, 2018 A trader on the New York Stock Exchange the day US investment bank Lehman Brothers filed for bankruptcy: the global crisis that followed is a defining moment of our […]
  • 9:40 AM » Lot Values Climb Higher
    Published Wed, Sep 05 2018 9:40 AM by eyeonhousing.org
    According to NAHB's analysis of the Census Bureau's Survey of Construction (SOC) data, single-family lot prices reached new record high in 2017, with half of the lots priced at or above $47,400. While this constitutes a new nominal record, lot values adjusted for inflation have not reached the housing boom peaks. In the midst of the housing boom – when... Read More ›
    Click Here to Read the Full Article

    Source: eyeonhousing.org
  • 8:43 AM » U.S. trade deficit rises to five-month high on declining exports
    Published Wed, Sep 05 2018 8:43 AM by Reuters
    The U.S. trade deficit increased to a five-month high in July as exports of soybeans and civilian aircraft declined and imports hit a record high, suggesting that trade could be a drag on economic growth in the third quarter.
  • 8:10 AM » US Treasury yields slip ahead of a slew of Fed speeches
    Published Wed, Sep 05 2018 8:10 AM by CNBC
    U.S. government debt prices posted solid gains on Wednesday.
  • Tue, Sep 4 2018
  • 4:34 PM » These three factors are a 'recipe for higher yields,' Wells Fargo strategist says
    Published Tue, Sep 04 2018 4:34 PM by CNBC
    Treasury yields have been in a summer lull since hitting their highest level since 2011 in May. Autumn should pave the way for a renewed push higher in yields, according to one top strategist.
  • 1:43 PM » Why homeowners outside of Gordon's path should check their insurance
    Published Tue, Sep 04 2018 1:43 PM by CNBC
    Although it's too late for homeowners who may be affected by this storm to make insurance changes, Gordon should serve as a reminder to people in other hurricane-prone areas to ensure their coverage is sufficient in case the next damaging weather system heads their way.
  • 1:43 PM » California Has Largest Public School Real Estate Premiums in U.S.
    Published Tue, Sep 04 2018 1:43 PM by www.realtor.com
    Buyers across the country are willing to pay significantly more for a home with the added perk of living within walking distance of highly ranked schools. The post California Has Largest Public School Real Estate Premiums in U.S. appeared first on Real Estate News & Insights | realtor.com® .
    Click Here to Read the Full Article

    Source: www.realtor.com
  • 11:54 AM » Atlanta Fed raises U.S. third-quarter GDP view to 4.7 percent
    Published Tue, Sep 04 2018 11:54 AM by Reuters
    The U.S. economy is growing at a 4.7 percent annualized rate in the third quarter, the Atlanta Federal Reserve's GDPNow forecast model showed on Tuesday, following the latest data on construction spending and factory activity.
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