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  • Fri, May 25 2018
  • 4:02 PM » 10 states where you can buy the most home for $300,000
    Published Fri, May 25 2018 4:02 PM by CNBC
    You may be surprised by the list
  • 1:59 PM » Fed's Powell Leads Global Call for Central Bank Independence
    Published Fri, May 25 2018 1:59 PM by Bloomberg
    Bloomberg Fed's Powell Leads Global Call for Central Bank Independence Bloomberg Global central bankers made a concerted call for their independence from politics to be safeguarded, arguing government interference in monetary policy risked propelling inflation. With Turkey engulfed by a currency crisis partly driven by political ... and more »
  • 1:25 PM » NAHB Releases Remodeling by Zip Code Estimates for 2018
    Published Fri, May 25 2018 1:25 PM by eyeonhousing.org
    With this post NAHB announces the release of its latest estimates of spending on improvements to owner-occupied homes at the zip code level. The new estimates are for calendar year 2018 and include the number of owner-occupied homes, the number with improvement spending during the year, the average spending per improved home, total spending on improvements within the zip code, and the drivers of remodeling activity used to... Read More ›
    Click Here to Read the Full Article

    Source: eyeonhousing.org
  • 1:15 PM » Charts show the largest bond ETF is on track for its worst year in history, market watcher says
    Published Fri, May 25 2018 1:15 PM by CNBC
    If pressure on Treasurys continues as expected, the largest bond ETF could surpass the drop seen in its worst year.
  • 10:06 AM » Consumer sentiment hits 98 in May vs. 98.8 estimate
    Published Fri, May 25 2018 10:06 AM by CNBC
    U.S. consumer sentiment was expected to hold steady in the final reading of May.
  • 9:42 AM » Fed Chair Powell: "Financial Stability and Central Bank Transparency"
    Published Fri, May 25 2018 9:42 AM by Calculated Risk Blog
    An excerpt from Fed Chair Jerome Powell's comments at "350 years of Central Banking: The Past, the Present and the Future," in Stockholm, Sweden: Financial Stability and Central Bank Transparency The post-crisis framework remains novel and unfamiliar. Some of these new policies, such as stress testing and resolution planning, are inherently complex and challenging for all involved. As a result, transparency and accountability around financial stability tools present particular challenges. We will continue to strive to find better ways to enhance transparency around our approach to preserving financial stability. Efforts to engage with the public--including consumer groups, academics, and the financial sector--are likely to lead to improved policies. Moreover, ongoing dialogue will work to enhance public trust, as well as our ability to adapt to new threats as they emerge. There is every reason to expect that technology and communications will continue to rapidly evolve, and to affect the financial system and financial stability in ways that we cannot fully anticipate. While future innovations may well improve the delivery of financial services and make the system stronger, they may also contain the seeds of potential future systemic vulnerabilities. We will need to keep up with the pace of innovation, which will doubtless require changes to our approach to financial stability. As we consider such changes, it will remain critically important to provide transparency and accountability. By doing so, we strengthen the foundation of democratic legitimacy that enables central banks to serve the needs of our citizens, in the long and proud tradition of the Riksbank.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 9:24 AM » Fed chief Powell: We're still assessing 'efficiency' of banking reforms
    Published Fri, May 25 2018 9:24 AM by CNBC
    Banking regulation has gotten stricter and more transparent in the days since the financial crisis, though more adjustments are likely ahead, Federal Reserve Chairman Jerome Powell said Friday.
  • 9:00 AM » US durable goods orders drop 1.7% in April, but core capital goods orders rose as shipments rebounded
    Published Fri, May 25 2018 9:00 AM by CNBC
    New orders for key U.S.-made capital goods increased more than expected in April and shipments rebounded.
  • 8:17 AM » Reforming Lending Reform: 3 Things Home Buyers Should Know About the New Law
    Published Fri, May 25 2018 8:17 AM by www.realtor.com
    A new law rolls back some of the lending restrictions enacted in response to the housing boom and bust. While it doesn't entirely do away with those financial reforms, it does have some significant implications for home buyers. The post Reforming Lending Reform: 3 Things Home Buyers Should Know About the New Law appeared first on Real Estate News & Insights | realtor.com® .
    Click Here to Read the Full Article

    Source: www.realtor.com
  • Thu, May 24 2018
  • 3:00 PM » President Trump signs banking bill providing Dodd-Frank relief; Ballard Spahr to hold June 19 webinar
    Published Thu, May 24 2018 3:00 PM by www.consumerfinancemonitor.com
    This afternoon, President Trump signed the Economic Growth, Regulatory Relief, and Consumer Protection Act (the Act) into law. The Act was passed by the House on Tuesday by a vote of 258 to 159 and by the Senate on March 14 by a vote of 67 to 31. Although the Act does not make the... Continue Reading
    Click Here to Read the Full Article

    Source: www.consumerfinancemonitor.com
  • 2:59 PM » Freddie Mac May Outlook: Homebuyers Showing Resiliency Amidst Limited Supply and Affordability Constraints 
    Published Thu, May 24 2018 2:59 PM by freddiemac.mwnewsroom.com
    Freddie Mac May Outlook: Homebuyers Showing Resiliency Amidst Limited Supply and Affordability Constraints 
    Click Here to Read the Full Article

    Source: freddiemac.mwnewsroom.com
  • 12:45 PM » Higher gas prices could hurt already weakening home sales
    Published Thu, May 24 2018 12:45 PM by CNBC
    As gas prices move higher, potential homebuyers already squeezed by higher mortgage rates and higher home prices, may reconsider.
  • 12:26 PM » Trump signs the biggest rollback of bank rules since the financial crisis
    Published Thu, May 24 2018 12:26 PM by CNBC
    The measure designed to ease rules on all but the largest U.S. banks passed through Congress with bipartisan support.
  • 11:59 AM » US Jobless Claims Unexpectedly Increase to Seven-Week High
    Published Thu, May 24 2018 11:59 AM by Bloomberg
    Bloomberg US Jobless Claims Unexpectedly Increase to Seven-Week High Bloomberg Filings for U.S. unemployment benefits unexpectedly rose to a seven-week high while remaining consistent with a tight job market, Labor Department figures showed Thursday. Highlights of Jobless Claims (Week Ended May 19). Jobless claims increased by ... and more »
  • 11:23 AM » Hutchins Roundup: Monetary policy response to house prices, Early Social Security Withdrawal, and more
    Published Thu, May 24 2018 11:23 AM by webfeeds.brookings.edu
    Studies in this week's Hutchins Roundup find that central banks should account for house prices when setting monetary policy, allowing workers to draw Social Security at age 62 increased poverty in old age, and more. Want to receive the Hutchins Roundup as an email? Sign up here to get it in your inbox every Thursday.…                
    Click Here to Read the Full Article

    Source: webfeeds.brookings.edu
  • 11:17 AM » Kansas City Fed: Regional Manufacturing Activity "Continued to Expand Rapidly" in May
    Published Thu, May 24 2018 11:17 AM by Calculated Risk Blog
    From the Kansas City Fed: Tenth District Manufacturing Activity Continued to Expand Rapidly The Federal Reserve Bank of Kansas City released the May Manufacturing Survey today. According to Chad Wilkerson, vice president and economist at the Federal Reserve Bank of Kansas City, the survey revealed that Tenth District manufacturing activity continued to expand at a rapid pace, and optimism remained high for future activity. "Our composite index rose to another record high in May, with continued optimism for future growth," said Wilkerson. "Prices indexes were stable but remained at high levels." ... The month-over-month composite index was 29 in May , up from readings of 26 in April and 17 in March. The composite index is an average of the production, new orders, employment, supplier delivery time, and raw materials inventory indexes. Factory activity increased at both durable and nondurable goods plants, particularly at nondurable plants producing chemicals and food. Most month-over-month indexes continued to rise. The production index jumped from 33 to 41, and the shipments, new orders, and new orders for exports indexes also moved higher. In contrast, the order backlog and employment indexes eased somewhat . The raw materials inventory index edged up from 17 to 19, and the finished goods inventory index also increased. emphasis added So far all of the regional Fed surveys have shown strong growth in May.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 10:47 AM » ECB Confidence Holds Strong for Now Against Trade, Italy Risks
    Published Thu, May 24 2018 10:47 AM by Bloomberg
    Bloomberg ECB Confidence Holds Strong for Now Against Trade, Italy Risks Bloomberg European Central Bank policy makers flagged protectionism and mounting global risks as potential threats to the euro area, though they stuck to their conviction about the underlying momentum in the economy for now. "Uncertainty around the outlook had ... and more »
  • 10:20 AM » Mortgage Rates Maintain Steady Climb
    Published Thu, May 24 2018 10:20 AM by freddiemac.mwnewsroom.com
    Mortgage Rates Maintain Steady Climb
    Click Here to Read the Full Article

    Source: freddiemac.mwnewsroom.com
  • 9:10 AM » Fed's Kaplan sees another four rate hikes or so before central bank finishes its job
    Published Thu, May 24 2018 9:10 AM by CNBC
    The Federal Reserve needs to raise interest rates about four more times before it reaches an equilibrium level, Dallas Fed President Robert Kaplan said Thursday.
  • 8:21 AM » Getting Rich on Government-Backed Mortgages
    Published Thu, May 24 2018 8:21 AM by Bloomberg
    Bloomberg Getting Rich on Government-Backed Mortgages Bloomberg A branch manager gets home loans for borrowers with weak credit or low incomes-and taxpayers back him up. Angelo Christian. Photographer: Ilana Panich-Linsman for Bloomberg Businessweek. By. Prashant Gopal. @mrgopal More stories by Prashant ...
  • 8:21 AM » Thursday: Unemployment Claims, Existing Home Sales
    Published Thu, May 24 2018 8:21 AM by Calculated Risk Blog
    Thursday: • At 8:30 AM ET: The initial weekly unemployment claims report will be released.  The consensus is for 220 thousand initial claims, down from 222 thousand the previous week. • At 9:00 AM: FHFA House Price Index for March 2018. This was originally a GSE only repeat sales, however there is also an expanded index. • At 10:00 AM: Existing Home Sales for April from the National Association of Realtors (NAR). The consensus is for 5.60 million SAAR, unchanged from 5.60 million in March. Housing economist Tom Lawler estimates the NAR will reports sales of 5.48 million SAAR for April. • At 11:00 AM: the Kansas City Fed manufacturing survey for May.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 8:04 AM » Yields at 3% Fail to Entice Some of the Biggest Treasuries Fans
    Published Thu, May 24 2018 8:04 AM by Bloomberg
    Bloomberg Yields at 3% Fail to Entice Some of the Biggest Treasuries Fans Bloomberg It seems it's once bitten, twice shy for Japanese investors in the U.S. Treasury market - and the tale of Shizuoka Bank explains why. Having booked a loss from U.S. debt holdings last year, the regional lender is in no rush to load up again, even with ...
  • Wed, May 23 2018
  • 3:50 PM » 30-something and still living at home? You've got lots (and lots) of company.
    Published Wed, May 23 2018 3:50 PM by Washington Post
    Michael Rotondo is an extreme example of a trend demographers have been watching for years.
    Click Here to Read the Full Article

    Source: Washington Post
  • 3:50 PM » Amazon and Lennar team up to show and sell smart home tech
    Published Wed, May 23 2018 3:50 PM by CNBC
    The biggest name in retail and the biggest name in homebuilding are test driving a collaboration.
  • 2:04 PM » Fed indicates it will let inflation run above 2 percent goal for 'temporary period'
    Published Wed, May 23 2018 2:04 PM by CNBC
    Federal Reserve officials would be content to let inflation briefly run above their 2 percent target as the economy continues to recover, according to minutes from the central bank's most recent meeting. Following the May 1-2 session, the policymaking Federal Open Market Committee said it wasn't raising rates yet but added the word "symmetric" to describe its...
  • 2:04 PM » Minutes of the Federal Open Market Committee, May 1-2, 2018
    Published Wed, May 23 2018 2:04 PM by Federal Reserve
    Minutes of the Federal Open Market Committee, May 1-2, 2018
    Click Here to Read the Full Article

    Source: Federal Reserve
  • 2:04 PM » IRS, Treasury have set their sights on blue states' tax workarounds
    Published Wed, May 23 2018 2:04 PM by CNBC
    Uncle Sam is paying attention to attempts by certain states to help residents manage their loss of a prized tax break. Prepare for new regulations.
  • 11:38 AM » AIA: "Architecture Firm Billings Strengthen in April"
    Published Wed, May 23 2018 11:38 AM by Calculated Risk Blog
    Note: This index is a leading indicator primarily for new Commercial Real Estate (CRE) investment. From the AIA: Architecture Firm Billings Strengthen in April The American Institute of Architects (AIA) is reporting today that architecture firm billings rose for the seventh consecutive month, with the pace of growth in April increasing modestly from March. Overall, the AIA's Architecture Billings Index (ABI) score for April was 52.0 (any score over 50 is billings growth), which indicates the business environment continues to be healthy for architecture firms despite continued labor shortages, growing inflation in building materials costs and rising interest rates. The ABI also revealed that business conditions remained strong at firms located in the West, while billings softened slightly at Midwest firms. "While there was slower growth in April for new project work coming into architecture firms, business conditions have remained healthy for the first four months of the year," said AIA Chief Economist Kermit Baker, Hon. AIA, PhD. "Although growth in regional design activity was concentrated at firms in the sunbelt, there was balanced growth so far this year across all major construction sectors." ... • Regional averages: West (55.1), Midwest (49.6), South (51.8), Northeast (50.3) • Sector index breakdown: multi-family residential (50.7), institutional (52.0), commercial/industrial (52.7), mixed practice (50.6) emphasis added Click on graph for larger image. This graph shows the Architecture Billings Index since 1996. The index was at 52.0 in April, up from 51.0 in March. Anything above 50 indicates expansion in demand for architects' services. Note: This includes commercial and industrial facilities like hotels and office buildings, multi-family residential, as well as schools, hospitals and other institutions. According to the AIA, there is an "approximate nine to twelve month lag time between architecture billings and construction spending"...
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 10:27 AM » Multifamily Unit Size Falls
    Published Wed, May 23 2018 10:27 AM by eyeonhousing.org
    Multifamily Unit Size Falls
    Click Here to Read the Full Article

    Source: eyeonhousing.org
  • 10:03 AM » How the just-passed banking overhaul bill affects consumers
    Published Wed, May 23 2018 10:03 AM by CNBC
    The House on Tuesday approved a Senate-passed measure that eases regulations on banks.
  • 9:24 AM » Chemical activity barometer ticks up as pace of growth slows
    Published Wed, May 23 2018 9:24 AM by PR Newswire
    WASHINGTON, May 23, 2018 /PRNewswire/ -- The Chemical Activity Barometer (CAB), a leading economic indicator created by the American Chemistry Council (ACC), rose 0.1 percent on a three-month moving average (3MMA) basis in May to 121.9. The barometer is up 3.9 percent on a 3MMA compared...
  • 8:30 AM » Italy's strange new coalition government could threaten disaster for the eurozone
    Published Wed, May 23 2018 8:30 AM by www.independent.co.uk
    The eurozone's policymakers have undermined Italian domestic reformers by keeping the environment far too restrictive and ignoring the polite calls of successive waves of technocrats for support
    Click Here to Read the Full Article

    Source: www.independent.co.uk
  • 8:14 AM » Flip It Good! Top 10 Home-Flipping Hotbeds Where Profits Are Through the Roof
    Published Wed, May 23 2018 8:14 AM by www.realtor.com
    Where can an independent entrepreneur maximize her profits in the real estate market? The realtor.com data team put on its tool belt and set out to find the answer. The post Flip It Good! Top 10 Home-Flipping Hotbeds Where Profits Are Through the Roof appeared first on Real Estate News & Insights | realtor.com® .
    Click Here to Read the Full Article

    Source: www.realtor.com
  • 8:13 AM » Trade and growth fears prompt dash for safe havens
    Published Wed, May 23 2018 8:13 AM by Reuters
    LONDON (Reuters) - Investors sold equities on Wednesday and raced to buy Japanese yen and government bonds from the United States and Germany on fears that setbacks to U.S-China trade talks would undermine increasingly fragile-looking world growth.
  • 8:13 AM » Italy Rout Wipes Five Billion Euros From Bond Futures Market
    Published Wed, May 23 2018 8:13 AM by Bloomberg
    Bloomberg Italy Rout Wipes Five Billion Euros From Bond Futures Market Bloomberg The sell-off in Italian assets has stripped over five billion euros worth of positions from the country's bond futures, the most ever in a week, as the risks around a new government come to fruition for investors. The number of active bets on Italian ...
  • 8:13 AM » Lowe's same-store sales miss estimates
    Published Wed, May 23 2018 8:13 AM by CNBC
    U.S. home improvement retailer Lowe's missed analysts' forecasts for quarterly same-store sales on Wednesday as an uncharacteristically long winter hit demand.
  • Tue, May 22 2018
  • 4:07 PM » FDIC: Fewer Problem banks, Residential REO Declined in Q1
    Published Tue, May 22 2018 4:07 PM by Calculated Risk Blog
    The FDIC released the Quarterly Banking Profile for Q1 today: Aggregate net income for the 5,606 FDIC-insured commercial banks and savings institutions reporting first quarter performance totaled $56 billion in first quarter 2018 , an increase of $12.1 billion (27.5 percent) from a year earlier. Improvement in net income was attributable to higher net operating revenue (the sum of net interest income and noninterest income) and a lower effective tax rate, but was offset in part by higher loan-loss provisions and noninterest expense. ... The Deposit Insurance Fund (DIF) balance increased by $2.3 billion, to $95.1 billion, during the first quarter. No banks failed during the quarter . ... The DIF's reserve ratio (the fund balance as a percent of estimated insured deposits) was 1.30 percent on March 31, 2018, unchanged from year-end 2017 due primarily to strong first quarter growth in estimated insured deposits. The reserve ratio increased by ten basis points from one year earlier. emphasis added Click on graph for larger image. The FDIC reported the number of problem banks declined slightly. This graph from the FDIC shows the number of problem banks declined to 92 institutions from 95 at the end of 2017. Note: The number of assets for problem banks increased significantly, suggesting a fairly large bank was added to the list (more on this when we update the unofficial list at the end of the month). The dollar value of 1-4 family residential Real Estate Owned (REOs, foreclosure houses) declined from $2.92 billion in Q4 2017 to $2.84 billion in Q1. This is the lowest level of REOs since Q3 2006. This graph shows the nominal dollar value of Residential REO for FDIC insured institutions. Note: The FDIC reports the dollar value and not the total number of REOs. Since REOs are reported in dollars, and house prices have increased, it is unlikely FDIC institution REOs will get back to the $2.0 to $2.5 billion range back that happened in 2003 to 2005.    FDIC...
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 3:31 PM » Unemployment Rate Is Lowest in Yearsâ€"and Many Americans Are Just Hanging On
    Published Tue, May 22 2018 3:31 PM by Bloomberg
    Bloomberg Unemployment Rate Is Lowest in Years-and Many Americans Are Just Hanging On Bloomberg Many U.S. households remain in a precarious financial position despite unemployment falling to the lowest level in years, a new Federal Reserve survey shows. The results of the Fed's 2017 report on the the economic well-being of U.S. households, which ...
  • 3:30 PM » Standards on AD&C Loans Ease, Interest Rates Expected to Rise
    Published Tue, May 22 2018 3:30 PM by eyeonhousing.org
    Builders and developers responding to NAHB's AD&C Financing Survey continue to report easing credit conditions for acquisition, development, and single-family construction loans, over the first quarter of 2018, but the pace of easing slowed. At the same time, the majority of survey respondents indicated that the typical loan they obtained in the first quarter of 2018 was tied to a... Read More ›
    Click Here to Read the Full Article

    Source: eyeonhousing.org
  • 2:06 PM » Existing Home Sales: Take the Under for April
    Published Tue, May 22 2018 2:06 PM by Calculated Risk Blog
    Housing economist Tom Lawler has been sending me his predictions of what the NAR will report for 8+ years.  The table below shows the consensus for each month, Lawler's predictions, and the NAR's initially reported level of sales.  Lawler hasn't always been closer than the consensus, but usually when there has been a fairly large spread between Lawler's estimate and the "consensus", Lawler has been closer. As an example, last month (March 2018) the consensus was for sales of 5.28 million on a seasonally adjusted annual rate (SAAR) basis. Lawler estimated 5.51 million, and the NAR reported 5.60 million (the consensus missed by 320 thousand compared to 90 thousand for Lawler). NOTE: There have been times when Lawler "missed", but then he pointed out an apparent error in the NAR data - and the subsequent revision corrected that error.  As an example, see: The "Curious Case" of Existing Home Sales in the South in April For April 2018, the consensus is that the NAR will report sales of 5.60 million  SAAR. However,  housing economist Tom Lawler estimates the NAR will report sales of 5.48 million. Lawler's estimate is a little below the consensus, so I'd take the under for April. Note: The NAR is scheduled to report April Existing Home Sales on Thursday, May 24th at 10:00 AM ET. Over the last eight years, the consensus average miss was 145 thousand, and  Lawler's average miss was 69 thousand. Existing Home Sales, Forecasts and NAR Report millions, seasonally adjusted annual rate basis (SAAR) Month Consensus Lawler NAR reported 1 May-10 6.20 5.83 5.66 Jun-10 5.30 5.30 5.37 Jul-10 4.66 3.95 3.83 Aug-10 4.10 4.10 4.13 Sep-10 4.30 4.50 4.53 Oct-10 4.50 4.46 4.43 Nov-10 4.85 4.61 4.68 Dec-10 4.90 5.13 5.28 Jan-11 5.20 5.17 5.36 Feb-11 5.15 5.00 4.88 Mar-11 5.00 5.08 5.10 Apr-11 5.20 5.15 5.05 May-11 4.75 4.80 4.81 Jun-11 4.90 4.71 4.77 Jul-11 4.92 4.69 4.67 Aug-11 4.75...
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
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