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  • Tue, Nov 28 2017
  • 4:45 PM » Zillow Case-Shiller Forecast: More Solid House Price Gains in October
    Published Tue, Nov 28 2017 4:45 PM by Calculated Risk Blog
    The Case-Shiller house price indexes for September were released this morning. Zillow forecasts Case-Shiller a month early, and I like to check the Zillow forecasts since they have been pretty close. From Svenja Gudell at Zillow: Case-Shiller September Results and October Forecast: Underbuilding Continues to Take a Toll The primary Case-Shiller indices paint a picture of a national housing market that's largely stable and maybe even a bit boring from 50,000 feet, with home prices growing at roughly the same pace for the past year or more. The U.S. National Index for September showed an annual increase in home prices of 6.2 percent. The month-over-month increase from August was 0.7 percent. The 10-city composite gained 5.7 percent annually and 0.6 percent from August to September, while the 20-city composite grew 6.2 percent annually and 0.5 percent month-over-month. Seattle, Las Vegas, and San Diego continued to post the largest annual gains among the 20-city composite, climbing 12.9 percent, 9 percent and 8.2 percent, respectively. But the real action is on the sidelines. Demand is coming first and foremost from buyers in the entry-level and mid-market segments, but available inventory is largely concentrated at the high end - causing the nation's most affordable homes to grow in value at more than twice the pace of homes at the top of the market. The past two months have shown promising signs of life from builders who have had difficulty meeting intense demand in the face of rising land, lumber and labor prices - but it's going to take a lot more than two good months to erase a housing deficit accumulated from years of underbuilding. The year-over-year change for the Case-Shiller National index will be about the same in October as in September.   Zillow is forecasting larger year-over-year increases for both the 10-city and 20-city indexes in October.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 4:03 PM » A Third of Homebuyers Will Consider Moving to Another State if SALT Deductions Are Eliminated
    Published Tue, Nov 28 2017 4:03 PM by www.redfin.com
    Redfin surveyed nearly 900 homebuyers to understand how tax reform could impact their homebuying plans. The post A Third of Homebuyers Will Consider Moving to Another State if SALT Deductions Are Eliminated appeared first on Redfin Real-Time .
    Click Here to Read the Full Article

    Source: www.redfin.com
  • 4:03 PM » Senate tax drama intensifies; Democrats pull out of Trump meeting
    Published Tue, Nov 28 2017 4:03 PM by Reuters
    WASHINGTON (Reuters) - President Donald Trump's push for tax cuts hit new turbulence on Tuesday, with Democrats abruptly pulling out of a planned White House meeting with him after he sent a tweet attacking them, while some Senate Republicans were demanding changes to the tax bill.
  • 2:36 PM » U.S. budget chief Mulvaney says CFPB staff should 'disregard' deputy director: memo
    Published Tue, Nov 28 2017 2:36 PM by Reuters
    WASHINGTON (Reuters) - U.S. budget chief Mick Mulvaney on Tuesday told staff at the Consumer Financial Protection Bureau to "disregard" instructions from Leandra English, the deputy director, according to a memo.
  • 1:40 PM » Tax reform rush and shutdown threat make for a messy December in Washington
    Published Tue, Nov 28 2017 1:40 PM by CNBC
    A Republican tax bill, a government shutdown deadline and more funding for natural disaster relief all need addressing in December.
  • 12:41 PM » Federal Reserve Nominee Sees Continuity if Confirmed
    Published Tue, Nov 28 2017 12:41 PM by www.nytimes.com
    Jerome H. Powell, nominated to be the Fed's next chairman, told senators he would continue the bank's current path of monetary and regulatory policies.
    Click Here to Read the Full Article

    Source: www.nytimes.com
  • 12:19 PM » You Will Never Guess Where Home Prices Are Shooting Up the Most
    Published Tue, Nov 28 2017 12:19 PM by www.realtor.com
    The median home price of a single-family home in this city jumped 12.9% year-over-year in September, according to a recent report. The post You Will Never Guess Where Home Prices Are Shooting Up the Most appeared first on Real Estate News & Insights | realtor.com® .
    Click Here to Read the Full Article

    Source: www.realtor.com
  • 11:16 AM » Fed chair nominee Powell says case for rate hike 'coming together'
    Published Tue, Nov 28 2017 11:16 AM by Reuters
    (Reuters) - The U.S. Federal Reserve is likely to raise interest rates again next month, Fed chair nominee Jerome Powell signaled on Tuesday.
  • 11:07 AM » FHFA Announces Maximum Conforming Loan Limits for 2018
    Published Tue, Nov 28 2017 11:07 AM by FHFA
    Fannie Mae and Freddie Mac Baseline Limit Will Increase to $453,100
  • 10:57 AM » Richmond Fed: "Fifth District Manufacturing Activity Saw Robust Growth in November"
    Published Tue, Nov 28 2017 10:57 AM by Calculated Risk Blog
    From the Richmond Fed: Fifth District Manufacturing Activity Saw Robust Growth in November Manufacturing firms reported robust growth in November, according to the latest survey by the Federal Reserve Bank of Richmond. The composite index jumped from 12 to 30, the highest it has been since 1993 . This rise was bolstered by strengthening conditions across all three components of the index. While indicators of current wages and finished goods fell in November, both maintained positive values, dropping from 24 to 21 and 14 to 9, respectively. District manufacturing firms remained optimistic that growth will continue in the coming six months. But a smaller share of firms raised their expectations than had in October in all areas, except for wages and capital expenditures. emphasis added This was the last of the regional Fed surveys for November. Here is a graph comparing the regional Fed surveys and the ISM manufacturing index: Click on graph for larger image. The New York and Philly Fed surveys are averaged together (yellow, through November), and five Fed surveys are averaged (blue, through November) including New York, Philly, Richmond, Dallas and Kansas City. The Institute for Supply Management (ISM) PMI (red) is through October (right axis). Based on these regional surveys, it seems likely the ISM manufacturing index will be strong again in November (to be released Friday, Dec 1st).
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 10:38 AM » Fed nominee Powell backs 'tailoring' regulations to ease up on small banks
    Published Tue, Nov 28 2017 10:38 AM by CNBC
    President Donald Trump nominated Jerome Powell to take over as Federal Reserve chairman when Janet Yellen's term expires in February.
  • 10:10 AM » Consumer confidence hits 129.5 in November vs expectation of 124
    Published Tue, Nov 28 2017 10:10 AM by CNBC
    Consumer optimism was expected to taper slightly in November, after recording historic highs in October.
  • 9:56 AM » Case-Shiller: National House Price Index increased 6.2% year-over-year in September
    Published Tue, Nov 28 2017 9:56 AM by Calculated Risk Blog
    S&P/Case-Shiller released the monthly Home Price Indices for September ("September" is a 3 month average of July, August and September prices). This release includes prices for 20 individual cities, two composite indices (for 10 cities and 20 cities) and the monthly National index. Note: Case-Shiller reports Not Seasonally Adjusted (NSA), I use the SA data for the graphs. From S&P: September S&P CoreLogic Case-Shiller National Home Price NSA Index Up 6.2% In Last 12 Months The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, covering all nine U.S. census divisions, reported a 6.2% annual gain in September , up from 5.9% in the previous month. The 10-City Composite annual increase came in at 5.7%, up from 5.2% the previous month. The 20-City Composite posted a 6.2% year-over-year gain, up from 5.8% the previous month. Seattle, Las Vegas, and San Diego reported the highest year-over-year gains among the 20 cities. In September, Seattle led the way with a 12.9% year-over-year price increase, followed by Las Vegas with a 9.0% increase, and San Diego with an 8.2% increase. 13 cities reported greater price increases in the year ending September 2017 versus the year ending August 2017. ... Before seasonal adjustment, the National Index posted a month-over-month gain of 0.4% in September. The 10-City and 20-City Composites reported increases of 0.5% and 0.4%, respectively. After seasonal adjustment, the National Index recorded a 0.7% month-over-month increase in September. The 10-City and 20-City Composites posted 0.6% and 0.5% month-over-month increases, respectively. 15 of 20 cities reported increases in September before seasonal adjustment, while all 20 cities reported increases after seasonal adjustment. "Home prices continued to rise across the country with the S&P CoreLogic Case-Shiller National Index rising at the fastest annual rate since June 2014," says David M. Blitzer, Managing Director...
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 9:25 AM » Why the CFPB showdown threatens the independence of financial regulators
    Published Tue, Nov 28 2017 9:25 AM by webfeeds.brookings.edu
    Rarely does financial regulation resemble a Mad Max movie, but two people are claiming to be Acting Director of the Consumer Financial Protection Bureau (CFPB) and only one can leave. This clash will impact financial regulation and consumer protection and potentially undermine one of the bedrock principals of modern financial regulation: independence of financial regulators.…                
    Click Here to Read the Full Article

    Source: webfeeds.brookings.edu
  • 8:54 AM » US Treasurys lower as investors gear up for data deluge; Fed speeches in focus
    Published Tue, Nov 28 2017 8:54 AM by CNBC
    U.S. government debt prices were lower on Tuesday, ahead of key speeches from leading central bankers.
  • 8:29 AM » Trump administration warns of disruptions in court filing on consumer protection panel
    Published Tue, Nov 28 2017 8:29 AM by Reuters
    WASHINGTON (Reuters) - The Trump administration has argued against a temporary restraining order that would block White House budget director Mick Mulvaney from assuming temporary control of the U.S. consumer watchdog agency, according to a court filing.
  • Mon, Nov 27 2017
  • 5:06 PM » How The Dodd-Frank Act Plays Into The CFPB Succession Debate
    Published Mon, Nov 27 2017 5:06 PM by www.npr.org
    As the showdown over the leadership of the Consumer Financial Protection Bureau continues, NPR's Robert Siegel talks with Georgetown University law professor Adam Levitin about what the law says about the succession of bureau directors.
  • 3:59 PM » Here's where GOP Senate holdouts stand on sweeping tax bill
    Published Mon, Nov 27 2017 3:59 PM by CNBC
    As negotiations over tax reform continued Monday, here are nine senators who have yet to commit publicly to supporting the latest version of the bill.
  • 2:01 PM » Fed's Kaplan says rate hike appropriate in 'near future'
    Published Mon, Nov 27 2017 2:01 PM by CNBC
    Dallas Federal Reserve Bank President Robert Kaplan on Monday made his clearest case yet for an interest-rate hike next month.
  • 1:14 PM » A 'Completely Flat' Yield Curve and Record-Low Yields Lies Ahead in 2018
    Published Mon, Nov 27 2017 1:14 PM by Bloomberg
    Bloomberg A 'Completely Flat' Yield Curve and Record-Low Yields Lies Ahead in 2018 Bloomberg In 2018, the Treasury curve will resemble another expanse in the U.S. where workers toil for yield: the farmlands of the Great Plains. Morgan Stanley is instructing investors to prepare for a "completely flat" U.S. yield curve in the third quarter, a ... and more »
  • 1:04 PM » This is how long it takes to sell a house
    Published Mon, Nov 27 2017 1:04 PM by CNN
    Three weeks.
  • 12:18 PM » Looking for a Newly Constructed Home? You Have Good Timing
    Published Mon, Nov 27 2017 12:18 PM by www.realtor.com
    gpointstudio/iStockAfter several years of a frenzied housing market characterized by many more home buyers than sellers, builders may finally be taking note. The number of newly constructed homes for sale and The post Looking for a Newly Constructed Home? You Have Good Timing appeared first on Real Estate News & Insights | realtor.com® .
    Click Here to Read the Full Article

    Source: www.realtor.com
  • 12:18 PM » Millennials Want to Own Homes Too, If US Economy Would Consent
    Published Mon, Nov 27 2017 12:18 PM by Bloomberg
    Bloomberg Millennials Want to Own Homes Too, If US Economy Would Consent Bloomberg Kelsey Marshall and her boyfriend Chris Eidam, both 27 years old, call the home-buying process "terrifying." But they're clear about one thing: It beats the heck out of renting. "We're wasting money where we are right now," near Bridgeport, Connecticut ... and more »
  • 11:53 AM » Treasury Market's Overlords Tackle Key Question of Transparency
    Published Mon, Nov 27 2017 11:53 AM by Bloomberg
    Bloomberg Treasury Market's Overlords Tackle Key Question of Transparency Bloomberg As Treasury Secretary Steven Mnuchin and other overseers of the $14.3 trillion U.S. government bond market gather Tuesday for a conference on the industry's evolution, one key question looms large: Are regulators prepared to make trading data public? and more »
  • 11:39 AM » Federal court asked to decide who is CFPB Acting Director
    Published Mon, Nov 27 2017 11:39 AM by www.consumerfinancemonitor.com
    Last Friday, November 24, effective at midnight, Richard Corday resigned as CFPB Director. Earlier in the day, the CFPB issued a press release announcing that Mr. Cordray had named Leandra English, the CFPB’s Chief of Staff, the CFPB Deputy Director. Yesterday, Ms. English filed a complaint in D.C. federal district court seeking a declaration that she... Continue Reading
    Click Here to Read the Full Article

    Source: www.consumerfinancemonitor.com
  • 9:06 AM » Trump Vows to Bring CFPB Disaster Back to Life With Mulvaney
    Published Mon, Nov 27 2017 9:06 AM by Bloomberg
    Bloomberg Trump Vows to Bring CFPB Disaster Back to Life With Mulvaney Bloomberg A high-stakes legal clash is unfolding over President Donald Trump's temporary pick to run Elizabeth Warren's favorite bank regulator, and the White House is holding its ground. Trump on Friday said he's naming White House budget director Mick Mulvaney ... and more »
  • 9:04 AM » Wall Street week ahead: A new Fed chief, the pulse on the housing market and bitcoin mania
    Published Mon, Nov 27 2017 9:04 AM by CNBC
    The stock market opens the last week of November at yet another record. Here's what Wall Street will be watching.
  • 9:02 AM » Here's how long takes for millennials to buy a home in every US state
    Published Mon, Nov 27 2017 9:02 AM by CNBC
    In Hawaii, it could take almost a decade.
  • 9:02 AM » Single-Family Built-for-Rent Starts: Third Quarter 2017
    Published Mon, Nov 27 2017 9:02 AM by eyeonhousing.org
    The number of single-family homes built-for-rent increased in the third quarter. Over the last four quarters, total production of this type of housing was 32,000 homes, compared to 33,000 during the four quarters prior. However, there were 10,000 starts in the third quarter alone. According to data from the Census Bureau's Quarterly Starts and Completions by Purpose and Design and NAHB analysis,... Read More ›
    Click Here to Read the Full Article

    Source: eyeonhousing.org
  • 9:01 AM » Rent No More! 10 U.S. Cities With Huge Increases in Homeownership
    Published Mon, Nov 27 2017 9:01 AM by www.realtor.com
    Buying a home may seem impossible in cities like San Francisco and New York. But it's not as hard in smaller, more affordable metros-if you act quickly. The post Rent No More! 10 U.S. Cities With Huge Increases in Homeownership appeared first on Real Estate News & Insights | realtor.com® .
    Click Here to Read the Full Article

    Source: www.realtor.com
  • 9:00 AM » Bond Traders Start to See Crack in Fed's Resolve About Inflation
    Published Mon, Nov 27 2017 9:00 AM by Bloomberg
    Bloomberg Bond Traders Start to See Crack in Fed's Resolve About Inflation Bloomberg Traders are about to find out just how worried Federal Reserve officials are about the outlook for inflation. The depth of that angst has ramifications for the U.S. bond market's dominant trend: the flattening yield curve. Fed Chair Janet Yellen and ... and more »
  • Fri, Nov 24 2017
  • 12:38 PM » Hotel Occupancy Rate Increases Year-over-Year, On Pace for Record Year
    Published Fri, Nov 24 2017 12:38 PM by Calculated Risk Blog
    Hotel Occupancy Rate Increase Year-over-Year, On Pace for Record Year Read more at http://www.calculatedriskblog.com/2017/11/hotel-occupancy-rate-increase-year-over.html#2bbmoPT2BpVVJqqx.99
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 11:46 AM » Mortgage Rates Head Lower Ahead of big Decisions From Fed, Congress
    Published Fri, Nov 24 2017 11:46 AM by Market Watch
    The 30-year fixed-rate mortgage has averaged 4.00% so far this year
  • 10:41 AM » It's not Just Lobbyists who say Tax Reform Will Slash Home Prices
    Published Fri, Nov 24 2017 10:41 AM by Market Watch
    Private economists believe home prices will decline and demand will decrease.
  • 9:51 AM » Recent Homes Have Just Over 3 Toilets, 2.5 Showers
    Published Fri, Nov 24 2017 9:51 AM by eyeonhousing.org
    Single-family homes built after the 1990s have an average of 3.1 toilets, 2.6 showers and 2.3 bathtubs, according to a recent NAHB study. Standard tables from the Survey of Construction (SOC, conducted by the U.S. Census Bureau with partial funding from HUD) show that the share of single-family homes built with at least 2 bathrooms has increased regularly from 60 percent of... Read More ›
    Click Here to Read the Full Article

    Source: eyeonhousing.org
  • 9:18 AM » Hurricane-struck businesses face rebuilding again -- and again
    Published Fri, Nov 24 2017 9:18 AM by CNN
    It had only been a matter of months since Helen and Andy Viola reopened their St. Augustine, Florida, restaurant after the last major hurricane when Hurricane Irma dealt them another blow.
  • 6:20 AM » ECB Policy Makers Worried Markets Expect More QE Extensions
    Published Fri, Nov 24 2017 6:20 AM by Bloomberg
    Bloomberg ECB Policy Makers Worried Markets Expect More QE Extensions Bloomberg Some European Central Bank policy makers worried at last month's meeting that a failure to put an end-date on their bond-buying program might stoke unwarranted speculation by investors that purchases could be prolonged again next year. and more »
  • Wed, Nov 22 2017
  • 2:33 PM » The Fed needs to 'stop talking' so much
    Published Wed, Nov 22 2017 2:33 PM by CNBC
    It's time for the Fed to taper forward guidance to reduce the "noise" and mixed signals, says Economist Samuel Rines.
  • 2:32 PM » Minutes of the Federal Open Market Committee, October 31-November 1, 2017
    Published Wed, Nov 22 2017 2:32 PM by Federal Reserve
    Minutes of the Federal Open Market Committee, October 31-November 1, 2017
    Click Here to Read the Full Article

    Source: Federal Reserve
  • 2:22 PM » Fed officials fear financial market 'imbalances' and possibility of 'sharp reversal' in prices
    Published Wed, Nov 22 2017 2:22 PM by CNBC
    Minutes from the Oct.31-Nov. 1 Federal Open Market Committee meeting indicated some worry about rising markets.
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