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  • Tue, Feb 14 2017
  • 9:59 AM » Hottest Spring 2017 Suburb Housing Markets
    Published Tue, Feb 14 2017 9:59 AM by blog.stewart.com
    Just as the flowers appear in the Spring, likewise sprout housing sales. Flowers appear earlier and grow faster in some areas compared to others. Ditto housing. So where are the hottest suburban markets this Spring? To answer that, Realtor.com analyzed suburban housing markets across the country. As urban housing prices exploded, one-half of home buyers … Read more
    Click Here to Read the Full Article

    Source: blog.stewart.com
  • 9:50 AM » US stocks open lower as Wall Street awaits Janet Yellen's testimony
    Published Tue, Feb 14 2017 9:50 AM by CNBC
    U.S. equities traded slightly lower Tuesday as investors eagerly awaited testimony from the top Federal Reserve official.
  • 9:00 AM » Markets underestimating pace of Fed rate hikes: Lacker
    Published Tue, Feb 14 2017 9:00 AM by Reuters
    NEWARK, Del. (Reuters) - The Federal Reserve will likely have to raise interest rates more rapidly than financial markets currently expect given that any new policies by the Trump administration, while uncertain, will force the Fed's hand, a hawkish central banker said on Tuesday.
  • 9:00 AM » US producer prices jump on higher energy costs
    Published Tue, Feb 14 2017 9:00 AM by CNBC
    U.S. producer prices rose more than expected in January, but a strong dollar continued to keep underlying inflation tame.
  • 9:00 AM » US Economic Confidence Down, but Still Positive
    Published Tue, Feb 14 2017 9:00 AM by www.gallup.com
    Americans are slightly less confident in the U.S. economy than they were in late January, but they remain positive overall. Gallup's U.S. Economic Confidence Index averaged +7 for the week ending Feb. 12.
    Click Here to Read the Full Article

    Source: www.gallup.com
  • 8:14 AM » Fed has limited view on Trump economic policies as Yellen heads to Congress
    Published Tue, Feb 14 2017 8:14 AM by Reuters
    WASHINGTON (Reuters) - Federal Reserve Chair Janet Yellen goes to Congress on Tuesday for the first time since Republicans took control of the White House and both houses of the legislature with less clarity on the direction of U.S. economic policy than at any time of her three-year tenure.
  • 8:12 AM » CoreLogic Reports 21,000 Completed Foreclosures in December 2016
    Published Tue, Feb 14 2017 8:12 AM by www.corelogic.com
    —National Foreclosure Inventory Down 30 Percent from December 2015— CoreLogic ® (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, today released its  December 2016 National Foreclosure Report which shows the foreclosure inventory declined by 30 percent and completed foreclosures declined by 40 percent compared with December 2015. The number of completed foreclosures nationwide decreased year over year from 36,000 in December 2015 to 21,000 in December 2016, representing a decrease of 82 percent from the peak of 118,336 in September 2010. The foreclosure inventory represents the number of homes at some stage of the foreclosure process and completed foreclosures reflect the total number of homes lost to foreclosure. Since the financial crisis began in September 2008, there have been approximately 6.5 million completed foreclosures nationally, and since homeownership rates peaked in the second quarter of 2004, there have been approximately 8.6 million homes lost to foreclosure. As of December 2016, the national foreclosure inventory included approximately 329,000, or 0.8 percent, of all homes with a mortgage compared with 467,000 homes, or 1.2 percent, in December 2015. CoreLogic also reports that the number of mortgages in serious delinquency (defined as 90 days or more past due including loans in foreclosure or REO) declined by 19.4 percent from December 2015 to December 2016 with 1 million mortgages, or 2.6 percent, in serious delinquency, the lowest level since August 2007. The decline was geographically broad with year-over-year decreases in serious delinquency in 48 states and the District of Columbia. “While the decline in serious delinquency has been geographically broad, some oil-producing markets have shown the effects of low oil prices on the housing market,” said Dr. Frank Nothaft, chief economist for CoreLogic. “Serious delinquency rates rose...
    Click Here to Read the Full Article

    Source: www.corelogic.com
  • 8:12 AM » Global inflation reawakening to test central banks and markets
    Published Tue, Feb 14 2017 8:12 AM by CNBC
    With mounting signs trillions of dollars and years of time invested by central banks to ward off deflation is working, inflation is in sharp focus Tuesday.
  • Mon, Feb 13 2017
  • 5:02 PM » Who Claims the Home Office Deduction?
    Published Mon, Feb 13 2017 5:02 PM by eyeonhousing.org
    With tax preparation season well underway, it is a good time to examine the use of the home office deduction. Often cited as a "red flag" for tax audits, the home office deduction is a legitimate business deduction particularly important for certain professionals and small business owners. Moreover - from the housing economics perspective - IRS data concerning the deduction,... Read More ›
    Click Here to Read the Full Article

    Source: eyeonhousing.org
  • 5:02 PM » Lawler: Some Data on Institutional Holdings of Single-Family Properties
    Published Mon, Feb 13 2017 5:02 PM by Calculated Risk Blog
    From housing economist Tom Lawler: Some Data on Institutional Holdings of Single-Family Properties Invitation Homes, Blackstone Group's single-family rental operator, recently went public, and its prospectus included some information on its portfolio of single-family rental properties. Other publicly-traded entities in the single-family rental business also provide such information, and I figured I'd compile some data. Here is a table showing the number of single-family homes owned by selected publicly-traded companies (or subsidiaries of such companies). These totals include homes held for sale. Single-Family Homes Owned by Selected Institutions, 9/30/2016   Number Avg. Sq. Ft. Invitation Homes 48,431 1,844 American Homes 4 Rent 48,158 1,959 Colony Starwood Homes 31,557 1,849 Silver Bay Realty Trust Corp.* 8,974 1,645 Tricon American Homes 8,006 1,521 Total 145,126 1,853 *Silver Bay reported 8,837 SF homes, but the total excluded homes for sale, which I have estimated American Homes 4 Rent merged with American Residential Properties, Inc. in 2006, and that merger involved the "acquisition" of about 8,938 homes, bringing AH4R's total property holdings to about the same as Invitation Homes. Below is a table showing the geographic distribution of single-family homes held by these institutions. Note that reporting by "geographic market" in some cases varies by institution. E.g., one institution combines Charlotte and Raleigh, NC into one market, while another breaks those markets out separately. Also, two institutions have an "other" category - American Homes 4 Rent (a significant number of homes owned are in this category) and Colony Starwood Homes. Single Family Property Holdings of Certain Institions by Market, 9/30/2016 Invitation Homes American Homes 4 Rent Colony Starwood Homes Silver Bay Realty Trust Tricom American Homes Total West   Southern CA 4,633 2,794 280 7,707 Northern CA 2,892 972 382 631 4,877...
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 5:01 PM » Classic pattern points to bond rally
    Published Mon, Feb 13 2017 5:01 PM by CNBC
    Paul Ciana of Bank of America Merrill Lynch spots a telling pattern on the chart of the 5-year Treasury yield.
  • 3:18 PM » Lawler: Selected Operating Statistics, Large Publicly-Traded Home Builders
    Published Mon, Feb 13 2017 3:18 PM by Calculated Risk Blog
    From housing economist Tom Lawler. Below is a table from Tom Lawler showing selected operating results of large publicly-traded builders for the quarter ended December 31, 2016.   Net Orders Settlements Average Closing Price (000s) Qtr. Ended: 12/16 12/15 % Chg 12/16 12/15 % Chg 12/16 12/15 % Chg D.R. Horton 9,241 8,064 14.6% 9,404 8,061 16.7% 298 290 2.4% Pulte Group 4,202 3,659 14.8% 6,197 5,662 9.4% 396 353 12.3% NVR 3,645 3,100 17.6% 4,419 4,010 10.2% 389 382 1.9% Cal Atlantic 2,848 2,699 5.5% 4,338 3,795 14.3% 450 437 3.0% Beazer Homes 1,005 923 8.9% 995 1,049 -5.1% 338 321 5.3% Meritage Homes 1,493 1,568 -4.8% 2,117 1,919 10.3% 414 397 4.3% MDC Holdings 1,018 1,020 -0.2% 1,582 1,275 24.1% 453 435 4.1% M/I Homes 999 897 11.4% 1,416 1,253 13.0% 356 360 -1.1% Total 24,451 21,930 11.5% 30,468 27,024 12.7% 373 356 4.6%
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 3:17 PM » Why Yellen will hold her interest-rate cards close in front of Congress
    Published Mon, Feb 13 2017 3:17 PM by Market Watch
    Fed Chairwoman Janet Yellen will remain cautious about the outlook for interest rates during her testimony before Congress this week.
  • 12:42 PM » U.S. inflation expectations at highest level since 2015: NY Fed
    Published Mon, Feb 13 2017 12:42 PM by Reuters
    NEW YORK (Reuters) - A measure of U.S. inflation expectations rose for a second straight month in January to its highest level since mid-2015, according to a Federal Reserve Bank of New York survey released on Monday that reinforced the view that interest rates would keep climbing.
  • 12:41 PM » Groups seek reconsideration en banc of motions to intervene in PHH case
    Published Mon, Feb 13 2017 12:41 PM by www.cfpbmonitor.com
    Barbara S. Mishkin After the D.C. Circuit panel issued a per curiam order on February 2 denying the three motions to intervene that were filed in the PHH case, we expected the next development in the case to be a decision by the D.C. Circuit on the CFPB’s petition for rehearing en banc. Instead, the next development has... More >
    Click Here to Read the Full Article

    Source: www.cfpbmonitor.com
  • 12:40 PM » Gary Cohn and the Participation Rate
    Published Mon, Feb 13 2017 12:40 PM by Calculated Risk Blog
    A Bloomberg article from December had some comments from Gary Cohn, the White House National Economic Council Director: Cohn in His Own Words The published U.S. unemployment rate "is a very, very fictitious rate. It's only that low because the participation rate has gone downward..." "The participation rate really measures people out in the U.S. population that are looking for jobs. There are so many people who are frustrated looking for jobs that they've just stopped. If the participation rate normalized -- this is a fun fact -- if it normalized to Day 1 of the Obama administration, we'd still be at an 11 percent plus unemployment rate." -- July 2015 This is not a "fun fact", it is complete nonsense. First, Cohn obviously ignored his own economic research at Goldman Sachs. In March 2016, Goldman Sachs economist David Mericle wrote:  "At this point, we see the cyclical "participation gap" as nearly closed."  If most of the cyclical gap is closed, then the remaining decline was due to demographics and long term trends. Second, as I've been discussing for years , the reason the recent decline in the overall participation rate (for those 16+ years old) is mostly due to demographics and long term trends.  The two main drivers of the lower participation rate have been aging baby boomers, and younger people staying in school.  There are also other long term trends that have pushed down the participation rate. Lets look at the participation rate trend for two young male cohorts, those 16 to 19 years old, and those 20 to 24 years old. Click on graph for larger image. Note: For simplification, I used men only for this graph.  It is more complicated for women because there was a significant increase in women participating in the labor force in the '60s, '70s, and '80s due to changing societal norms. There has been a down trend that for both the "16 to...
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 10:53 AM » When Buying, Selling and Renovating, it's an Animal House, Say Realtors®
    Published Mon, Feb 13 2017 10:53 AM by Google News
    WASHINGTON (February 13, 2017) — When making decisions about buying, selling or renovating their homes, Americans, by and large, take their pets' needs into account, according to a new report from the National Association of Realtors®. The 2017 Animal House: Remodeling Impact report found that 81 percent of respondents said that animal-related considerations play a role when deciding on their next living situation. "In 2016, 61 percent of U.S. households either have a pet or plan to get one in the future, so it is important to understand the unique needs... Read More
  • 10:17 AM » Is Trump's White House headed for its first shakeup?
    Published Mon, Feb 13 2017 10:17 AM by CNBC
    Several officials are skating on thin ice and may be fired, NBC News reports.
  • 9:22 AM » Yellen outlook 'irrelevant' because Trump will reshape Fed, strategist who called Brexit vote says
    Published Mon, Feb 13 2017 9:22 AM by CNBC
    The Federal Reserve's 2017 plans may not pan out if the president appoints three of his own members, Mark Grant says.
  • 8:30 AM » Treasury Leadership Vacuum Leaves US Open to Policy Mix-Ups
    Published Mon, Feb 13 2017 8:30 AM by Bloomberg
    Bloomberg Treasury Leadership Vacuum Leaves US Open to Policy Mix-Ups Bloomberg A leadership vacuum at the Treasury Department is beginning to weigh on key areas of American economic policy, such as currency, sanctions and budget issues. Three weeks after President Donald Trump took office, the Senate is still debating his pick ... and more »
  • 8:30 AM » Senate heads toward confirmation of Trump pick for Treasury
    Published Mon, Feb 13 2017 8:30 AM by CNBC
    The Senate is poised to confirm President Donald Trump's pick for Treasury secretary.
  • 8:24 AM » Wall Street looks to extend its record run
    Published Mon, Feb 13 2017 8:24 AM by CNBC
    U.S. stock futures were higher this morning after record closes for the Dow, S&P 500, Nasdaq, and Russell 2000.
  • 8:21 AM » Yellen Unlikely to Rule Out March Hike in Capitol Hill Testimony
    Published Mon, Feb 13 2017 8:21 AM by Bloomberg
    Bloomberg Yellen Unlikely to Rule Out March Hike in Capitol Hill Testimony Bloomberg Federal Reserve Chair Janet Yellen probably won't drop a heavy hint on the timing of the next interest-rate increase when she speaks to Congress this week, but expect her to defend post-crisis banking rules the Trump administration has sworn to undo. and more »
  • 8:20 AM » The 10 U.S. Cities With the Fastest-Growing Suburbs
    Published Mon, Feb 13 2017 8:20 AM by www.realtor.com
    In many metropolitan markets across the United States, the suburbs are where the real real estate action can be found. The post The 10 U.S. Cities With the Fastest-Growing Suburbs appeared first on Real Estate News & Advice | realtor.com® .
    Click Here to Read the Full Article

    Source: www.realtor.com
  • Fri, Feb 10 2017
  • 2:17 PM » Trump And Japan's Shinzo Abe Talk Diplomacy At White House News Conference
    Published Fri, Feb 10 2017 2:17 PM by www.npr.org
    The U.S. president and the Japanese prime minister met at the White House on Friday. Before they resume talks at Trump's Florida golf course Saturday, they're addressing the media together.
  • 2:17 PM » Fed's Tarullo to resign, creating opening at central bank
    Published Fri, Feb 10 2017 2:17 PM by Reuters
    WASHINGTON (Reuters) - Federal Reserve Governor Daniel Tarullo will resign from the U.S. central bank where he helped lead financial regulation, creating further room for President Donald Trump to reshape the Fed's policymaking staff.
  • 12:59 PM » Fitch: Trump's economic plans represent a threat to the world
    Published Fri, Feb 10 2017 12:59 PM by CNBC
    Fitch fired a warning shot about Trump's economic policies, saying hard-line stances on trade and immigration pose serious problems for the world.
  • 12:59 PM » OPEC achieves record compliance with oil output cuts. Experts ask if it can last
    Published Fri, Feb 10 2017 12:59 PM by CNBC
    Saudi Arabia over-delivered, but OPEC cut about 90 percent of the oil supplies it committed to take off the market.
  • 10:24 AM » US consumer sentiment hits 95.7 in mid-February vs estimate of 98.5
    Published Fri, Feb 10 2017 10:24 AM by CNBC
    US consumer sentiment hits 95.7 in mid-February vs estimate of 98.5<br/>http://www.cnbc.com/2017/02/10/us-consumer-sentiment-hits-957-in-january-vs-estimate-of-985.html
  • 10:23 AM » Bonds Slump as Dollar Boosted by Trump Tax Pledge: Markets Wrap
    Published Fri, Feb 10 2017 10:23 AM by Bloomberg
    Bloomberg Bonds Slump as Dollar Boosted by Trump Tax Pledge: Markets Wrap Bloomberg Bonds fell and the dollar rose against most of its peers as reflation trades came back into focus after a promise by U.S. President Donald Trump to overhaul business taxes. Banking stocks led European equities lower as political risk plagued the region.
  • 10:21 AM » Serial house sitters shed the shackles of a mortgage
    Published Fri, Feb 10 2017 10:21 AM by CNBC
    Some retired couples are finding home ownership overrated as free options multiply.
  • 8:54 AM » Energy products boost U.S. import prices in January
    Published Fri, Feb 10 2017 8:54 AM by Reuters
    WASHINGTON (Reuters) - U.S. import prices rose more than expected in January amid further gains in the cost of energy products, but a strong dollar continued to dampen underlying imported inflation.
  • Thu, Feb 9 2017
  • 5:26 PM » Fannie Mae exec with ties to Mnuchin is among candidates for consumer protection job
    Published Thu, Feb 09 2017 5:26 PM by CNBC
    White House is considering Brian Brooks, a top official at Fannie Mae, to head the Consumer Financial Protection Bureau.
  • 3:29 PM » Three Fed rate hikes reasonable for 2017, Evans says
    Published Thu, Feb 09 2017 3:29 PM by CNBC
    It is reasonable to expect the Federal Reserve to raise interest rates three times because the early direction of U.S. fiscal policies appear to be positive.
  • 3:22 PM » Attention First-Time Buyers: Here's the Key Stuff You Don't Know About Mortgages
    Published Thu, Feb 09 2017 3:22 PM by www.realtor.com
    When it comes to what might be the biggest purchase of your life, it's nice to know real facts. A lot of mortgage "facts" are not what people think. The post Attention First-Time Buyers: Here’s the Key Stuff You Don’t Know About Mortgages appeared first on Real Estate News & Advice | realtor.com® .
    Click Here to Read the Full Article

    Source: www.realtor.com
  • 1:16 PM » Fed's Evans: Inflation has to hit 2% for central bank to maintain credibility
    Published Thu, Feb 09 2017 1:16 PM by Market Watch
    The Federal Reserve has to it 2% inflation to earn credibility with investors, said Chicago Fed President Charles Evans on Thursday.
  • 11:11 AM » Mortgage Rates in Holding Pattern
    Published Thu, Feb 09 2017 11:11 AM by freddiemac.mwnewsroom.com
    Mortgage Rates in Holding Pattern
    Click Here to Read the Full Article

    Source: freddiemac.mwnewsroom.com
  • 11:11 AM » Fed's Bullard says rates can remain low through 2017
    Published Thu, Feb 09 2017 11:11 AM by Reuters
    ST. LOUIS (Reuters) - U.S. interest rates can likely remain low through at least 2017, with no clear sense yet of whether the new Trump administration's policies will touch off higher inflation or growth, St. Louis Federal Reserve Bank President James Bullard said on Thursday.
  • 11:10 AM » Capitol Report: It's premature to worry about a currency war, IMF says
    Published Thu, Feb 09 2017 11:10 AM by Market Watch
    The International Monetary Fund said Thursday talk of a currency war is premature.
  • 11:10 AM » CFPB January 2017 complaint report highlights mortgage complaints
    Published Thu, Feb 09 2017 11:10 AM by www.cfpbmonitor.com
    Barbara S. Mishkin The CFPB has issued its January 2017 complaint report that highlights mortgage complaints. The report also highlights complaints from consumers in Tennessee and the Memphis and Nashville metro areas. General findings include the following: As of January 1, 2017, the CFPB handled approximately 1,080,700 complaints nationally, including approximately 22,900 complaints in December 2016. Debt collection... More >
    Click Here to Read the Full Article

    Source: www.cfpbmonitor.com
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