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  • Thu, Jun 7 2018
  • 8:17 AM » Euro and bond yields extend rally on ECB while risk appetite grows
    Published Thu, Jun 07 2018 8:17 AM by Reuters
    LONDON (Reuters) - The euro and bond yields rose on Thursday as investors priced in an early wind-down of European Central Bank stimulus, while renewed risk appetite drove world stocks to a 3-1/2 week high.
  • 8:04 AM » Fed on Track to Raise Rates Regardless of Emerging-Market Woes
    Published Thu, Jun 07 2018 8:04 AM by Bloomberg
    Bloomberg Fed on Track to Raise Rates Regardless of Emerging-Market Woes Bloomberg Emerging markets struggling with higher U.S. interest rates are likely to get little sympathy from the Federal Reserve. Emerging-market currencies have been hammered in a spreading selloff amid worries that their economies won't cope with higher U.S. ...
  • 8:02 AM » U.S. Home Flipping Rate Matches Six-Year High In Q1 2018 Despite 3 Percent Year-Over-Year Decrease In Number Of Homes Flipped
    Published Thu, Jun 07 2018 8:02 AM by PR Newswire
    IRVINE, Calif., June 7, 2018  /PRNewswire/ -- ATTOM Data Solutions, curator of the nation's premier property database, today released its Q1 2018 U.S. Home Flipping Report, which shows that 48,457 U.S. single family homes and condos were flipped in the first quarter of 2018, down 4 percent...
  • 8:01 AM » A-Plus Idea: More Schools Providing Teachers With Subsidized Housing
    Published Thu, Jun 07 2018 8:01 AM by www.realtor.com
    In the wake of a spate of teacher strikes across the nation, some cities and school districts are looking into building subsidized housing for teachers. The post A-Plus Idea: More Schools Providing Teachers With Subsidized Housing appeared first on Real Estate News & Insights | realtor.com® .
    Click Here to Read the Full Article

    Source: www.realtor.com
  • Wed, Jun 6 2018
  • 3:00 PM » New Tax Laws Have Home Buyers Checking New Places
    Published Wed, Jun 06 2018 3:00 PM by www.realtor.com
    New tax rules that have a disproportionate effect on taxpayers who live in states with high income taxes and property taxes are swaying decisions. The post New Tax Laws Have Home Buyers Checking New Places appeared first on Real Estate News & Insights | realtor.com® .
    Click Here to Read the Full Article

    Source: www.realtor.com
  • 2:59 PM » Home Prices Rise and Birthrates Fall in Study of US Counties
    Published Wed, Jun 06 2018 2:59 PM by Bloomberg
    Home Prices Rise and Birthrates Fall in Study of US Counties Bloomberg A sharp decline in birthrates in some hot U.S. housing markets could have something to do with those very price increases, according to a report by Zillow Group Inc. The real estate data provider plotted a trend line from a correlation it observed ...
  • 12:53 PM » Here's how much of your income you should spend on housing
    Published Wed, Jun 06 2018 12:53 PM by CNBC
    Just how much of your money should be going towards the costs of either renting or owning your home?
  • 11:52 AM » The SEC is taking a close look at the rise of electronic bond trading, Chairman Jay Clayton says
    Published Wed, Jun 06 2018 11:52 AM by CNBC
    The SEC is taking a look at bond trading as the market becomes increasingly electronic, Chairman Jay Clayton said.
  • 11:26 AM » Amazon reportedly had discussions about offering home insurance
    Published Wed, Jun 06 2018 11:26 AM by CNBC
    The report said, "There's nothing that suggests Amazon has any concrete plans for insurance."
  • 10:15 AM » Germany's chancellor offers a unifying economic plan to mollify a divided Europe
    Published Wed, Jun 06 2018 10:15 AM by webfeeds.brookings.edu
    Angela Merkel, Germany's chancellor, has ended her long silence on the proposals for European reform made by the French president Emmanuel Macron. In an interview with a German newspaper at the weekend, followed by a speech in Berlin on Monday, she laid out her unifying plan for a divided continent. Divisions, it must be said,…                
    Click Here to Read the Full Article

    Source: webfeeds.brookings.edu
  • 9:34 AM » Europe Seeks Exemption From US Sanctions as Iran Deal Teeters
    Published Wed, Jun 06 2018 9:34 AM by Bloomberg
    Europe Seeks Exemption From US Sanctions as Iran Deal Teeters Bloomberg Three European countries and the European Union are seeking exemptions from U.S. sanctions on Iran in a sign that the bloc's bid to hold the landmark nuclear deal together may be in trouble. "As allies, we expect that the U.S. will refrain from taking ... and more »
  • 9:08 AM » Over Three-Fifths of Builders Have Encountered Cluster Mail Boxes
    Published Wed, Jun 06 2018 9:08 AM by eyeonhousing.org
    The United States Post Office has been attempting to reduce or eliminate sidewalk and curbside delivery of mail to individual homes, especially in new subdivisions. Instead, the Post Office now wants to deliver mail primarily to centralized or “cluster” mail boxes, each serving multiple homes in a development. So far, implementation of this policy has varied across the country, as local post offices... Read More ›
    Click Here to Read the Full Article

    Source: eyeonhousing.org
  • 8:43 AM » Euro boosted but bonds and stocks sag after hawkish ECB comments
    Published Wed, Jun 06 2018 8:43 AM by Reuters
    LONDON (Reuters) - The euro rose to a 10-day high on Wednesday after hawkish comments from the European Central Bank, putting more upward pressure on bond yields and sinking some stocks as worries over Italy also weighed.
  • 8:35 AM » US trade deficit falls to seven-month low
    Published Wed, Jun 06 2018 8:35 AM by CNBC
    The U.S. trade deficit fell to a seven-month low in April as exports rose to a record high, lifted by an increase in shipments of industrial materials and soybeans.
  • Tue, Jun 5 2018
  • 3:18 PM » Fannie Mae Selling Guide Updates
    Published Tue, Jun 05 2018 3:18 PM by Fannie Mae
    The Selling Guide has been updated to include changes to the following:
  • 2:43 PM » Wells Fargo is closing all its branches in three Midwestern states
    Published Tue, Jun 05 2018 2:43 PM by CNN
    Wells Fargo is retreating from the Midwest.
  • 1:55 PM » Homebuilder Woes Are More Good News for Home Depot and Lowe's
    Published Tue, Jun 05 2018 1:55 PM by Bloomberg
    Bloomberg Homebuilder Woes Are More Good News for Home Depot and Lowe's Bloomberg Soaring lumber prices, rising mortgage rates and a dearth of skilled workers are a triple threat looming over the housing industry right now. That spells bad news for homebuilders, but not for home-improvement chains. That's because anything that slows ... and more »
  • 12:51 PM » There are more jobs than people out of work, something the American economy has never experienced before
    Published Tue, Jun 05 2018 12:51 PM by CNBC
    The jobs market has reached what should be some kind of inflection point: There are more openings than workers.
  • 11:29 AM » The 10 cities with the most and least student debt
    Published Tue, Jun 05 2018 11:29 AM by CNBC
    Americans collectively hold more student debt than ever before.
  • 11:12 AM » April Construction Job Openings Remain Elevated
    Published Tue, Jun 05 2018 11:12 AM by eyeonhousing.org
    The count of unfilled jobs in the construction sector was effectively unchanged in April, remaining near post-Great Recession high levels. According to the BLS Job Openings and Labor Turnover Survey (JOLTS) and NAHB analysis, the number of open construction sector jobs came in at 232,000. The post-recession high count of open, unfilled construction jobs was 255,000 in July of last... Read More ›
    Click Here to Read the Full Article

    Source: eyeonhousing.org
  • 10:26 AM » BLS: Job Openings Increased in April to New Series High
    Published Tue, Jun 05 2018 10:26 AM by Calculated Risk Blog
    A milestone: In April there were 6.698 million job openings, and, according to the April Employment report, there were 6.346 million unemployed. So there are now more job openings than unemployed. Also note that the number of job openings has exceeded the number of hires since January 2015. From the BLS: Job Openings and Labor Turnover Summary The number of job openings was little changed at 6.7 million on the last business day of April , the U.S. Bureau of Labor Statistics reported today. Over the month, hires and separations were little changed at 5.6 million and 5.4 million, respectively. Within separations, the quits rate was unchanged at 2.3 percent and the layoffs and discharges rate increased to 1.2 percent. ... The number of quits was little changed at 3.4 million in April. The quits rate was 2.3 percent. The number of quits was little changed for total private and increased for government (+17,000). Quits increased in state and local government education (+14,000) but decreased in arts, entertainment, and recreation (-25,000). emphasis added The following graph shows job openings (yellow line), hires (dark blue), Layoff, Discharges and other (red column), and Quits (light blue column) from the JOLTS. This series started in December 2000. Note: The difference between JOLTS hires and separations is similar to the CES (payroll survey) net jobs headline numbers. This report is for April, the most recent employment report was for May. Click on graph for larger image. Note that hires (dark blue) and total separations (red and light blue columns stacked) are pretty close each month. This is a measure of labor market turnover.  When the blue line is above the two stacked columns, the economy is adding net jobs - when it is below the columns, the economy is losing jobs. Jobs openings increased in April to 6.698 million from 6.633 million in March. The number of job openings (yellow) are up 9.7% year-over-year. Quits are up 9.1% year...
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 10:05 AM » ISM non-manufacturing index hits 58.6 in May, vs. 57.6 estimate
    Published Tue, Jun 05 2018 10:05 AM by CNBC
    Growth in U.S. non-manufacturing was expected to grow in May.
  • 9:43 AM » Italy's Conte Promises Populist Agenda, Urges Strong Europe
    Published Tue, Jun 05 2018 9:43 AM by Bloomberg
    Bloomberg Italy's Conte Promises Populist Agenda, Urges Strong Europe Bloomberg Italian Prime Minister Giuseppe Conte pledged in his maiden speech that his government will push through measures ranging from a "citizen's income" for the poor to tax cuts and curbs on immigration, as he called for a stronger, fairer Europe. Speaking ... and more »
  • 8:26 AM » Equifax Helps Move the Mortgage Industry Closer to Digital with The Work Number® Indicator
    Published Tue, Jun 05 2018 8:26 AM by PR Newswire
    ATLANTA, June 5, 2018 /PRNewswire/ -- As the mortgage industry evolves to become more consumer oriented, lenders and borrowers alike are seeking to gain operational efficiencies through quicker, paperless processes similar to the digital experiences many retailers offer. To support these...
  • 8:04 AM » 3 advisors share their secrets to building a better bond portfolio
    Published Tue, Jun 05 2018 8:04 AM by CNBC
    Just how much of the bond landscape you want to sample is a matter of personal inclination and tolerance for risk.
  • 8:03 AM » More than half of US housing markets were overvalued in April
    Published Tue, Jun 05 2018 8:03 AM by CNBC
    As the sharp gains in home prices continue, more markets are seeing values higher than their local economies can support.
  • Mon, Jun 4 2018
  • 5:09 PM » Annual Vehicle Sales: On Pace to decline slightly in 2018
    Published Mon, Jun 04 2018 5:09 PM by Calculated Risk Blog
    The BEA released their estimate of May vehicle sales this morning. The BEA estimated sales of 16.81 million SAAR in May 2018 (Seasonally Adjusted Annual Rate), down 1.8% from the April sales rate, and up slightly from May 2017. Through May, light vehicle sales are on pace to be down slightly in 2018 compared to 2017. This would make 2018 the sixth best year on record after 2016, 2015, 2000, 2017 and 2001. My guess is vehicle sales will finish the year with sales lower than in 2017. A small decline in sales this year isn't a concern - I think sales will move mostly sideways at near record levels. As I noted last year, this means the economic boost from increasing auto sales is over (from the bottom in 2009, auto sales boosted growth every year through 2016). Click on graph for larger image. This graph shows annual light vehicle sales since 1976.   Source: BEA. Sales for 2018 are estimated based on the pace of sales during the first five months.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 3:35 PM » First-Time US Homebuyers Account for Almost Half of Mortgages
    Published Mon, Jun 04 2018 3:35 PM by Bloomberg
    Bloomberg First-Time US Homebuyers Account for Almost Half of Mortgages Bloomberg Young Americans are hitting more and more homeownership roadblocks: crippling student debt, escalating home prices, surging mortgage rates and a scarcity of listings. So why have they gone on a buying binge? First-time buyers accounted for 46 percent ...
  • 2:09 PM » House to hold June 6 hearing on CFPB
    Published Mon, Jun 04 2018 2:09 PM by www.consumerfinancemonitor.com
    On June 6, 2018, the House Financial Services Committee’s Subcommittee on Financial Institutions and Consumer Credit will hold a hearing entitled "Improving Transparency and Accountability at the Bureau of Consumer Financial Protection." The members of the panel of witnesses will be : Steven G. Day, President, American Land Title Association Richard Hunt, President and CEO,... Continue Reading
    Click Here to Read the Full Article

    Source: www.consumerfinancemonitor.com
  • 2:06 PM » In This Market Pretty Much Everything Is Fine, Until It Isn't
    Published Mon, Jun 04 2018 2:06 PM by Bloomberg
    Bloomberg In This Market Pretty Much Everything Is Fine, Until It Isn't Bloomberg What do Toys "R" Us bonds, the populist threat to the European Union, and Turkish external debt have in common? All were tolerated by market players until, quite suddenly, they weren't. Investors seem increasingly prone to flee assets at the first hint ...
  • 11:54 AM » US Housing Affordability Slips With Prices, Rates Surging
    Published Mon, Jun 04 2018 11:54 AM by Bloomberg
    Bloomberg US Housing Affordability Slips With Prices, Rates Surging Bloomberg Recent income growth has not been sufficient to keep up with rising interest rates and home prices, according to a new report from Black Knight, a real estate data and analytics firm. The increase in prices and rates has driven up the monthly payment ... and more »
  • 11:22 AM » U.S. Births decreased in 2017
    Published Mon, Jun 04 2018 11:22 AM by Calculated Risk Blog
    From the National Center for Health Statistics: Births: Provisional Data for 2017 . The NCHS reports: The provisional number of births for the United States in 2017 was 3,853,472, down 2% from 2016 and the lowest number in 30 years. The general fertility rate was 60.2 births per 1,000 women aged 15-44, down 3% from 2016 and another record low for the United States. ... Here is a long term graph of annual U.S. births through 2017. Click on graph for larger image. Births have declined for three consecutive years following increases in 2013 and 2014. With fewer births, and less net migration, demographics will not be as favorable as I was expecting a few years ago.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 10:59 AM » Weak demand for aircraft hurts U.S. factory orders
    Published Mon, Jun 04 2018 10:59 AM by Reuters
    WASHINGTON (Reuters) - New orders for U.S.-made goods fell more than expected in April, weighed down by declines in demand for transportation equipment and machinery, but the underlying trend continued to suggest strong momentum in the manufacturing sector.
  • 10:40 AM » Toronto Home Prices Inch Higher as Owners Stay on Sidelines
    Published Mon, Jun 04 2018 10:40 AM by Bloomberg
    Bloomberg Toronto Home Prices Inch Higher as Owners Stay on Sidelines Bloomberg Prices for Toronto homes climbed in May as buyers competed for fewer listings amid the worst sales slump in almost a decade. Sales dropped 22 percent to 7,834, compared with the same month last year, according to data Monday from the Toronto Real ... and more »
  • 10:35 AM » The most expensive ZIP code in Nevada isn't in Vegas
    Published Mon, Jun 04 2018 10:35 AM by CNBC
    The most expensive ZIP code in Nevada might not be where you think it is.
  • 9:33 AM » Rainbow International Shares Hurricane Preparedness Tips For Homeowners
    Published Mon, Jun 04 2018 9:33 AM by PR Newswire
    WACO, Texas, June 4, 2018 /PRNewswire/ -- With hurricane season officially here, Rainbow International, a Neighborly company and the nation's leading residential and commercial restoration service provider, is helping homeowners who live in areas impacted by hurricanes and tropical storms...
  • 9:08 AM » June 12 could be a big date for US-China ties — and not because of North Korea
    Published Mon, Jun 04 2018 9:08 AM by CNBC
    A senior U.S. official is expected to attend a June 12 launch for the American Institute in Taiwan's new office in a move that could irritate China. The non-profit organization operates as the de-facto U.S. embassy in Taipei and its new facility represents strengthened U.S.-Taiwan relations. Beijing opposes other countries pursuing relations with the island.
  • Fri, Jun 1 2018
  • 4:24 PM » It's 2007 Again for Commercial Mortgage Bonds, Moody's Says
    Published Fri, Jun 01 2018 4:24 PM by Bloomberg
    It's 2007 Again for Commercial Mortgage Bonds, Moody's Says Bloomberg Commercial mortgage bonds are getting stuffed with the lowest-quality loans since the financial crisis by one measure, according to Moody's Investors Service, a warning sign that the $517 billion market may be headed for harder times. The securities ...
  • 1:00 PM » For Sale: A New Home Built by Your Local Private Equity Firm
    Published Fri, Jun 01 2018 1:00 PM by Bloomberg
    Bloomberg For Sale: A New Home Built by Your Local Private Equity Firm Bloomberg Private equity wants to build your home. Encore Capital Management is talking with institutional investors to raise a new fund to buy land and build homes for sale, focusing on affordable, entry-level and senior housing, according to people with ...
  • 1:00 PM » Comments on May Employment Report
    Published Fri, Jun 01 2018 1:00 PM by Calculated Risk Blog
    The headline jobs number at 223,000 for May was above consensus expectations of 185 thousand, and the previously two months were revised up by a combined 15 thousand. Overall this was a strong report. Earlier: May Employment Report: 223,000 Jobs Added, 3.8% Unemployment Rate In May, the year-over-year employment change was 2.363 million jobs. This is solid year-over-year growth. Average Hourly Earnings Wage growth was about as expected in May. From the BLS: " In May, average hourly earnings for all employees on private nonfarm payrolls rose by 8 cents to $26.92. Over the year, average hourly earnings have increased by 71 cents, or 2.7 percent. " Click on graph for larger image. This graph is based on "Average Hourly Earnings" from the Current Employment Statistics (CES) (aka "Establishment") monthly employment report. Note: There are also two quarterly sources for earnings data: 1) "Hourly Compensation," from the BLS's Productivity and Costs ; and 2) the Employment Cost Index which includes wage/salary and benefit compensation. The graph shows the nominal year-over-year change in "Average Hourly Earnings" for all private employees.  Nominal wage growth was at 2.7% YoY in May. Wage growth had been trending up, although growth has been moving more sideways recently. Prime (25 to 54 Years Old) Participation Since the overall participation rate has declined due to cyclical (recession) and demographic (aging population, younger people staying in school) reasons, here is the employment-population ratio for the key working age group: 25 to 54 years old. In the earlier period the participation rate for this group was trending up as women joined the labor force. Since the early '90s, the participation rate moved more sideways, with a downward drift starting around '00 - and with ups and downs related to the business cycle. The 25 to 54 participation rate decreased in May to 81.8%, and the 25 to 54...
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
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