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  • Tue, Jul 23 2019
  • 8:02 AM » Prices for the Most Affordable U.S. Homes Up 9% in June
    Published Tue, Jul 23 2019 8:02 AM by www.redfin.com
    But in San Jose and Orange County, two of the most expensive markets in the U.S., prices for the most affordable homes are falling. The post Prices for the Most Affordable U.S. Homes Up 9% in June appeared first on Redfin Real-Time .
    Click Here to Read the Full Article

    Source: www.redfin.com
  • 8:02 AM » Amazon partners with Realogy, dipping its toes deeper into real estate
    Published Tue, Jul 23 2019 8:02 AM by CNBC
    The largest residential brokerage company in the U.S. is partnering with the largest online retailer in a strategy to boost sales for both.
  • Mon, Jul 22 2019
  • 4:06 PM » Equifax's $700 million data breach settlement spurs criticism, calls for new rules
    Published Mon, Jul 22 2019 4:06 PM by Reuters
    Credit-reporting company Equifax Inc will pay up to $700 million to settle claims it broke the law with a massive 2017 data breach and to repay harmed consumers, in a landmark settlement that could spur new consumer data rules.
  • 3:00 PM » CFPB issues report on tradeline reporting by third-party debt collectors
    Published Mon, Jul 22 2019 3:00 PM by www.consumerfinancemonitor.com
    The CFPB has issued a new report on tradelines reported by third-party debt collectors as reflected on credit reports compiled by nationwide consumer reporting agencies. The third-party collector tradelines consist of those reported by debt buyers and those reported by non-buyers (i.e. where the debt is still owned by the original creditor). A single debt... Continue Reading
    Click Here to Read the Full Article

    Source: www.consumerfinancemonitor.com
  • 2:59 PM » Home Remodeling Spending Expected to Slow Over the Next Year
    Published Mon, Jul 22 2019 2:59 PM by www.realtor.com
    After years of feverish remodeling activity, Americans are starting to cool on home improvement projects. The post Home Remodeling Spending Expected to Slow Over the Next Year appeared first on Real Estate News & Insights | realtor.com® .
    Click Here to Read the Full Article

    Source: www.realtor.com
  • 2:59 PM » Major real estate developer takes on Trump's immigration policy: "Don't send them home, send them to us"
    Published Mon, Jul 22 2019 2:59 PM by CNBC
    The construction industry is heavily dependent on Hispanic and Latino workers, a workforce that diminished during the last housing crisis and has not come close to full recovery. The labor shortage has hurt builders, so a major developer sent this letter to his employees.
  • 2:59 PM » Top Twenty Five GDP Quarters since 2000
    Published Mon, Jul 22 2019 2:59 PM by Calculated Risk Blog
    A year ago I posted a list of the top twenty five GDP quarters since 2000.   Here is an update. The advance estimate of Q2 GDP data will be released this Friday, and the consensus estimate is for real GDP to increase 1.9% in Q2 2019 (Annualized). Last year, in Q2 2018, GDP increased 4.2%, making it the tenth best quarter for real annualized GDP since Q1 2000. As I've noted before, based on demographics, 2% is the new 4% (that is just simple arithmetic). Top 25 GDP Quarters since 2000 Real GDP, Annualized Rate GDP Year Quarter President 1 7.5% 2000 Q2 Clinton 2 7.0% 2003 Q3 GW Bush 3 5.4% 2006 Q1 GW Bush 4 5.1% 2014 Q2 Obama 5 4.9% 2014 Q3 Obama 6 4.7% 2011 Q4 Obama 7 4.7% 2003 Q4 GW Bush 8 4.5% 2005 Q1 GW Bush 9 4.5% 2009 Q4 Obama 10 4.2% 2018 Q2 Trump 11 4.1% 2004 Q4 GW Bush 12 3.8% 2004 Q3 GW Bush 13 3.7% 2010 Q2 Obama 14 3.6% 2005 Q3 GW Bush 15 3.6% 2013 Q1 Obama 16 3.5% 2002 Q1 GW Bush 17 3.5% 2003 Q2 GW Bush 18 3.5% 2006 Q4 GW Bush 19 3.4% 2018 Q3 Trump 20 3.3% 2015 Q2 Obama 21 3.3% 2015 Q1 Obama 22 3.2% 2013 Q4 Obama 23 3.2% 2013 Q3 Obama 24 3.2% 2012 Q1 Obama 25 3.1% 2019 Q1 Trump
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 12:52 PM » Congress, White House on Brink of Two-Year Debt Limit Deal
    Published Mon, Jul 22 2019 12:52 PM by Bloomberg
    Congress, White House on Brink of Two-Year Debt Limit Deal    Bloomberg Congress and the White House are on the brink of an agreement that would raise the debt limit until July 31, 2021 and increase government spending for two ...
  • 11:46 AM » Will the Fed Cut Rates in July? Trump Pushes for Rate Cut in 2019
    Published Mon, Jul 22 2019 11:46 AM by Bloomberg
    Will the Fed Cut Rates in July? Trump Pushes for Rate Cut in 2019    Bloomberg President Donald Trump pushed the Federal Reserve to cut interest rates as policy makers ready for their decision this month on whether to do so.
  • 9:37 AM » Equifax to pay up to $700 million in U.S. data breach settlement
    Published Mon, Jul 22 2019 9:37 AM by Reuters
    Credit-reporting company Equifax Inc will pay up to $700 million to settle U.S. federal and state probes into a massive 2017 data breach of personal information, authorities said on Monday.
  • 8:58 AM » Chicago Fed "Index Points to Economic Growth near Historical Trend in June"
    Published Mon, Jul 22 2019 8:58 AM by Calculated Risk Blog
    From the Chicago Fed: Index Points to Economic Growth near Historical Trend in June The Chicago Fed National Activity Index (CFNAI) ticked up to -0.02 in June from -0.03 in May. One of the four broad categories of indicators that make up the index increased from May, and two of the four categories made negative contributions to the index in June. The index's three-month moving average, CFNAI-MA3, ticked up to -0.26 in June from -0.27 in May . emphasis added This graph shows the Chicago Fed National Activity Index (three month moving average) since 1967. Click on graph for larger image. This suggests economic activity was below the historical trend in June (using the three-month average). According to the Chicago Fed: The index is a weighted average of 85 indicators of growth in national economic activity drawn from four broad categories of data: 1) production and income; 2) employment, unemployment, and hours; 3) personal consumption and housing; and 4) sales, orders, and inventories. ... A zero value for the monthly index has been associated with the national economy expanding at its historical trend (average) rate of growth; negative values with below-average growth (in standard deviation units); and positive values with above-average growth.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 8:03 AM » US Treasury yields tick higher as investors consider smaller Fed rate cut
    Published Mon, Jul 22 2019 8:03 AM by CNBC
    U.S. government debt prices were lower Monday, as investors scaled back their expectations for an aggressive rate cut by the Fed.
  • 8:02 AM » Home Prices up 3.4 Percent in June as Supply Flattens
    Published Mon, Jul 22 2019 8:02 AM by www.redfin.com
    U.S. home-sale prices rose again in June, growing 3.4 percent from a year ago to a median of $321,200 across the metros Redfin tracks. The post Home Prices up 3.4 Percent in June as Supply Flattens appeared first on Redfin Real-Time .
    Click Here to Read the Full Article

    Source: www.redfin.com
  • Fri, Jul 19 2019
  • 2:14 PM » Earnings, GDP expected to show sluggish growth as investors await rate cut
    Published Fri, Jul 19 2019 2:14 PM by CNBC
    More than a quarter of the S&P 500 companies report earnings in the week ahead, and that could buffet the market as investors await the Fed's meeting at the end of the month.
  • 1:13 PM » Battling flood damage? Why you'll have a hard time getting a tax break for it
    Published Fri, Jul 19 2019 1:13 PM by CNBC
    Homeowners grappling with flood damage have another struggle ahead: claiming their losses on their taxes. The new tax law made it more difficult to write off property damage. What it means for you.
  • 12:39 PM » Q2 GDP Forecasts: 1.4% to 2.3%
    Published Fri, Jul 19 2019 12:39 PM by Calculated Risk Blog
    From Merrill Lynch: Strong retail sales in June boosted our 2Q GDP tracking by 0.6pp to 2.3% qoq saar . [July 19 estimate] emphasis added From Goldman Sachs: We left our Q2 GDP tracking estimate unchanged at +1.4% (qoq ar). [July 17 estimate] From the NY Fed Nowcasting Report The New York Fed Staff Nowcast stands at 1.4% for 2019:Q2 and 1.9% for 2019:Q3. [July 19 estimate]. And from the Altanta Fed: GDPNow The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2019 is 1.6 percent on July 17, unchanged from July 16. [July 17 estimate] CR Note: These estimates suggest real GDP growth will be around 2% annualized in Q2.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 11:37 AM » Trump Slams the Fed Again, Complaining About High Interest Rates
    Published Fri, Jul 19 2019 11:37 AM by Bloomberg
    Trump Slams the Fed Again, Complaining About High Interest Rates    Bloomberg President Donald Trump renewed his criticism of the Federal Reserve on Friday, complaining that the U.S. is paying "much higher interest rates" than other ...
  • 10:33 AM » US consumer sentiment hits 98.4 in July, vs. 98.5 estimate
    Published Fri, Jul 19 2019 10:33 AM by CNBC
    US consumer sentiment hits 98.4 in July, vs. 98.5 estimate<br/>https://www.cnbc.com/2019/07/19/us-consumer-sentiment-july-2019-preliminary.html
  • 9:07 AM » Here's how much you can save on your mortgage by improving your credit score
    Published Fri, Jul 19 2019 9:07 AM by CNBC
    Here's how much you can save on your mortgage by improving your credit score<br/>https://www.cnbc.com/2019/07/18/increasing-your-credit-score-can-save-you-big-on-your-mortgage.html
  • 8:27 AM » NY Fed clarifies Williams speech that market took as signal of a rate cut
    Published Fri, Jul 19 2019 8:27 AM by CNBC
    NY Fed clarifies Williams speech that market took as signal of a rate cut
  • 8:04 AM » Fragile World Manufacturing Front and Center of Fed Rate Debate
    Published Fri, Jul 19 2019 8:04 AM by Bloomberg
    Fragile World Manufacturing Front and Center of Fed Rate Debate    Bloomberg Federal Reserve policy makers will meet in two weeks to weigh an interest-rate cut against the backdrop of a booming U.S. stock market, a seemingly ...
  • 8:03 AM » ECB's Signal, Half-Point Fed Cut, U.K's 'Rigorous' Test: Eco Day
    Published Fri, Jul 19 2019 8:03 AM by Bloomberg
    ECB's Signal, Half-Point Fed Cut, U.K's 'Rigorous' Test: Eco Day    Bloomberg Welcome to Friday, Europe. Here's the latest news and analysis from Bloomberg Economics to help get your day started:
  • Thu, Jul 18 2019
  • 5:37 PM » Oil falls about 2.5% as U.S. Gulf production returns
    Published Thu, Jul 18 2019 5:37 PM by Reuters
    Oil fell about 2.5% a barrel on Thursday, weighed down by weakness in U.S. equities markets and an expectation that crude output would rise in the Gulf of Mexico following last week's hurricane in the region.
  • 3:55 PM » Now the market thinks the Fed could make an even deeper cut to rates later this month
    Published Thu, Jul 18 2019 3:55 PM by CNBC
    The fact that interest rates are relatively low makes the idea of a so-called insurance rate cut later this month an attractive option for the Fed.
  • 3:54 PM » California Bay Area Home Sales Decline 4.7% YoY in Q2, Inventory up 11% YoY
    Published Thu, Jul 18 2019 3:54 PM by Calculated Risk Blog
    From Compass chief economist Selma Hepp: How did the spur of IPOs impact Bay Area housing markets? • Higher-end sales surged. While the total number of homes sold in the second quarter trended below last year by about 5 percent, higher-priced sales, above $3 million, surged again bringing second quarter sales in line with last year's historical peak. • Home prices remained flat in the second quarter, except in San Francisco and San Mateo. As noted in previous analyses, home prices in the Bay Area reached a cyclical high last May when the median price topped at $1 million. Since, the prices followed seasonal declines reaching the lowest point in January and have increased since. • For-sale inventory growth slowed considerably. While overall inventory is about 11 percent ahead of last year, inventory growth and addition of new listings has slowed, suggesting that acute lack of homes for sale continues to hang over Bay Area housing markets. • Lastly, tax reform is likely putting a damper on the market by dragging down sales priced between $1 million and $2 million. While the quarter ended with 5 percent fewer sales than last year, or 876 fewer sales, 84 percent of the decline, or 738 units, was due to fewer homes sold priced between $1 million and $2 million.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 3:07 PM » Millennials agree on the best way to invest—but they're wrong
    Published Thu, Jul 18 2019 3:07 PM by CNBC
    More than a third of millennials agree that real estate is the best way to invest money you won't need for at least 10 years, a new Bankrate survey found. However, the stock market typically earns better returns.
  • 2:37 PM » Fed's Williams says to 'act quickly' to lower rates rates during 'economic distress'
    Published Thu, Jul 18 2019 2:37 PM by CNBC
    "It's better to take preventative measures than to wait for disaster to unfold," Williams told the annual meeting of the Central Bank Research Association.
  • 1:15 PM » Mnuchin Says Deal on Budget, Raising Debt Limit ‘Very Close'
    Published Thu, Jul 18 2019 1:15 PM by Bloomberg
    Mnuchin Says Deal on Budget, Raising Debt Limit 'Very Close'    Bloomberg Treasury Secretary Steven Mnuchin said the Trump administration and congressional Democrats have agreed on spending levels for a budget deal that could ...
  • 11:53 AM » Draft Legislation Seeks to "Keep Big Tech Out Of Finance"
    Published Thu, Jul 18 2019 11:53 AM by www.consumerfinancemonitor.com
    On July 15, the Democratic majority of the House Financial Services Committee introduced draft legislation, titled "Keep Big Tech Out Of Finance Act," targeting Libra, Facebook's contemplated new digital currency. As a follow up, during her July 17 opening statement before testimony from a Facebook executive, Chairwoman Maxine Waters expressed serious concerns about Libra and... Continue Reading
    Click Here to Read the Full Article

    Source: www.consumerfinancemonitor.com
  • 11:30 AM » A booming manufacturing report just poked another hole in the Fed's case for a rate cut
    Published Thu, Jul 18 2019 11:30 AM by CNBC
    The Philadelphia Fed saw its primary gauge measuring the sector jump from 0.3 in June to 21.8, far better than Wall Street estimates of 5 and the highest in a year.
  • 11:07 AM » Sacramento Housing in June: Sales Down 13.6% YoY, Active Inventory DOWN 11% YoY
    Published Thu, Jul 18 2019 11:07 AM by Calculated Risk Blog
    From SacRealtor.org: June sales price inches towards August 2005 high June closed with 1,527 total sales, a 6.3% [decrease] from the 1,630 sales of May. [ Sales down 13.6% YoY ] ... The Active Listing Inventory increased 2.1% from 2,314 to 2,362 units. The Months of Inventory, increased from 1.4 to 1.5 Months. [Note: Compared to June 2018, inventory is down 11.2% ] . ... The Median DOM (days on market) remained at 10 from May to June. The Average DOM decreased from 25 to 22. "Days on market" represents the days between the initial listing of the home as "active" and the day it goes "pending." emphasis added 1) Overall sales decreased to 1,527 in June, down from 1,767 in June 2018. Sales were down 6.3% from May 2019 (last month), and down 13.6% from June 2018. 2) Active inventory was at 2,362, down from 2,660 in June 2018. That is down 11.2% year-over-year.  This is the second consecutive YoY decline following 20 months of YoY increases in inventory. Inventory is still low - months of inventory is at 1.5 months, probably closer to 4 months would be normal.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 9:53 AM » European Central Bank set for a rate cut in September, economists predict
    Published Thu, Jul 18 2019 9:53 AM by CNBC
    The European Central Bank (ECB) will next week open the door to an interest rate cut for September, economists have predicted.
  • 9:21 AM » Home Prices Have Shot Up Way More Than You Thought Since the Recession
    Published Thu, Jul 18 2019 9:21 AM by www.realtor.com
    Quite a bit has changed since the Great Recession. A housing market pocked by foreclosures and abandoned construction sites is now practically on fire. The post Home Prices Have Shot Up Way More Than You Thought Since the Recession appeared first on Real Estate News & Insights | realtor.com® .
    Click Here to Read the Full Article

    Source: www.realtor.com
  • 8:08 AM » July Rate Cut Makes Sense, Says FTN Financial's Low
    Published Thu, Jul 18 2019 8:08 AM by Bloomberg
    July Rate Cut Makes Sense, Says FTN Financial's Low    Bloomberg Chris Low, chief economist at FTN Financial, discusses Fed policy and the potential for the cuts to backfire. He speaks on "Bloomberg Daybreak: Asia." (Source: ...
  • 8:04 AM » One in 10 Millennial Homebuyers Say They'll Rely on Parents for Mortgage Help, Down From 17% Last Year
    Published Thu, Jul 18 2019 8:04 AM by www.redfin.com
    In only eight months, millennial homebuyers plan to rely less on their family to afford their mortgage The post One in 10 Millennial Homebuyers Say They'll Rely on Parents for Mortgage Help, Down From 17% Last Year appeared first on Redfin Real-Time .
    Click Here to Read the Full Article

    Source: www.redfin.com
  • 8:01 AM » Housing in Northern Va. Spikes 17% Ahead of Amazon Build-Out
    Published Thu, Jul 18 2019 8:01 AM by www.builderonline.com
    Housing in Northern Va. Spikes 17% Ahead of Amazon Build-Out
    Click Here to Read the Full Article

    Source: www.builderonline.com
  • Wed, Jul 17 2019
  • 4:27 PM » Almost 40% of U.S. Homes Are ‘Free and Clear' of a Mortgage - Bloomberg
    Published Wed, Jul 17 2019 4:27 PM by Bloomberg
    Almost 40% of U.S. Homes Are 'Free and Clear' of a Mortgage    Bloomberg More Americans are living mortgage free. About 37% of U.S. households are "free and clear," meaning they no longer have a home mortgage to pay, according ...
  • 3:18 PM » CAR on California: "California home sales retreat in June"
    Published Wed, Jul 17 2019 3:18 PM by Calculated Risk Blog
    The CAR reported: California home sales retreat in June, but 2019 housing market outlook revised upward, C.A.R. reports After rebounding in May, California home sales fell below the benchmark 400,000 level in June as sales declined from both the previous month and year, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) said today. Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 389,690 units in June, according to information collected by C.A.R. from more than 90 local REALTOR® associations and MLSs statewide. The statewide annualized sales figure represents what would be the total number of homes sold during 2019 if sales maintained the June pace throughout the year. It is adjusted to account for seasonal factors that typically influence home sales. June's sales figure was down 4.2 percent from the 406,960 level in May and down 5.1 percent from home sales in June 2018 of 410,800. Sales fell below the 400,000 benchmark again after rebounding in May. Sales have been under the benchmark for 10 of the past 11 months. "With softer price growth and interest rates at the lowest levels in nearly three years, monthly mortgage payments on a median-priced home have fallen for four straight months. This allows homebuyers to save hundreds of dollars a month on the same home or to potentially consider a slightly more expensive home for the same monthly cost," said C.A.R. President Jared Martin. "Combined with the long-term benefits of homeownership on personal wealth and quality of life, 2019 is a good time to purchase a home for the long haul." ... Active listings, which have been decelerating since December 2018, grew 2.4 percent from a year ago - the smallest increase since April 2018 . The number of homes available for sale has moderated significantly, suggesting that market is getting back toward being more balanced between supply and demand - but inventory remains relatively...
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 1:19 PM » The economic signs are moving against the Fed's expected rate cut: 'It just doesn't smell right'
    Published Wed, Jul 17 2019 1:19 PM by CNBC
    The central bank is not normally in the business of easing into an economy that is showing few signs of a recession, generally holding fire until more pronounced signs of a slowdown are in view.
  • 1:15 PM » IMF Warns Rising Trade-War Risk is Weighing on Global Economy - Bloomberg
    Published Wed, Jul 17 2019 1:15 PM by Bloomberg
    IMF Warns Rising Trade-War Risk is Weighing on Global Economy    Bloomberg The International Monetary Fund said more work is needed to further reduce global trade imbalances amid increasing tensions, while issuing a *fresh* warning ...
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