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  • Mon, Apr 24 2017
  • 12:29 PM » Spring housing season is the 'strongest seller's market ever'
    Published Mon, Apr 24 2017 12:29 PM by CNBC
    Spring home buyers are pounding the pavement at a furious pace, but the pickings are getting ever slimmer.
  • 10:07 AM » Chicago Fed "Slower Economic Growth in March"
    Published Mon, Apr 24 2017 10:07 AM by Calculated Risk Blog
    From the Chicago Fed: Chicago Fed National Activity Index Points to Slower Economic Growth in March Led by slower growth in employment-related indicators, the Chicago Fed National Activity Index (CFNAI) moved down to +0.08 in March from +0.27 in February . Two of the four broad categories of indicators that make up the index decreased from February, and one category made a negative contribution to the index in March. The index's three-month moving average, CFNAI-MA3, decreased to +0.03 in March from +0.16 in February, but remained positive for the fourth consecutive month. 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 somewhat above the historical trend in March (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
  • 9:38 AM » Trump suddenly finds himself needing the Fed
    Published Mon, Apr 24 2017 9:38 AM by CNBC
    President Donald Trump's relationship with the Fed is, to put it mildly, evolving.
  • 8:16 AM » Black Knight: House Price Index up 0.8% in February, Up 5.7% year-over-year
    Published Mon, Apr 24 2017 8:16 AM by Calculated Risk Blog
    Note: I follow several house price indexes (Case-Shiller, CoreLogic, Black Knight, Zillow, FHFA, FNC and more). Note: Black Knight uses the current month closings only (not a three month average like Case-Shiller or a weighted average like CoreLogic), excludes short sales and REOs, and is not seasonally adjusted . From Black Knight: Black Knight Home Price Index Report: U.S. Home Prices Hit New Peak in February, Rising 0.8 Percent for the Month, Up 5.7 Percent Year-Over-Year • Nationally, home prices rose 0.8% for the month and gained 5.7% on a year-over-year basis • U.S. home prices hit a new, post-crisis high in February, with the national HPI hitting $268K, surpassing the previous peak set in June 2006 • February marked 58 consecutive months of annual national home price appreciation • Home prices in six of the nation's 20 largest states and 14 of the 40 largest metros hit new peaks in February The year-over-year increase in this index has been about the same for the last year. Note that house prices are just above the bubble peak in nominal terms, but not in real terms (adjusted for inflation).  Case-Shiller for February will be released tomorrow.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 8:16 AM » Treasuries Slide Across Curve as French Vote Damps Safety Demand
    Published Mon, Apr 24 2017 8:16 AM by Bloomberg
    Bloomberg Treasuries Slide Across Curve as French Vote Damps Safety Demand Bloomberg Treasuries dropped across the curve after pro-Europe centrist Emmanuel Macron won the first round of France's presidential election, easing demand for safer assets. Benchmark 10-year yields headed for their biggest one-day jump in three months as ... and more »
  • 8:16 AM » Movement Out of California Was the Most Influential Driver of U.S. Migration Patterns in Early 2017
    Published Mon, Apr 24 2017 8:16 AM by www.redfin.com
    One in five Redfin users searched for homes outside their metro; Boston, Chicago and Seattle had the most loyal residents. The post Movement Out of California Was the Most Influential Driver of U.S. Migration Patterns in Early 2017 appeared first on Redfin Real-Time .
    Click Here to Read the Full Article

    Source: www.redfin.com
  • 12:02 AM » Risk Is Back On After French Election; Euro Jumps: Markets Wrap
    Published Mon, Apr 24 2017 12:02 AM by Bloomberg
    Bloomberg Risk Is Back On After French Election; Euro Jumps: Markets Wrap Bloomberg Investors swung back into a risk-taking mode on speculation that pro-growth centrist Emmanuel Macron will become France's next president after the first round of voting. The euro jumped the most since December and the yen retreated, while U.S. stock ... and more »
  • 12:01 AM » Euro pops to 5-month high vs dollar on French election relief
    Published Mon, Apr 24 2017 12:01 AM by CNBC
    The euro scaled five-month highs against the dollar on Monday after Emmanuel Macron swept to victory in the first round of France's presidential election.
  • 12:00 AM » France's Macron heads for runoff with Le Pen in May
    Published Mon, Apr 24 2017 12:00 AM by CNBC
    Centrist Emmanuel Macron and far-right leader Marine Le Pen head for a second round runoff on May 7 in France's presidential election.
  • Fri, Apr 21 2017
  • 3:53 PM » Government shutdown would create mortgage roadblocks
    Published Fri, Apr 21 2017 3:53 PM by CNBC
    Homebuyers looking for mortgage approval could hit paperwork roadblocks if the government shuts down next week.
  • 2:40 PM » Trump says he will release tax reform package next week, says it will be bigger than 'any tax cut ever'
    Published Fri, Apr 21 2017 2:40 PM by CNBC
    The president says the package will be released on "Wednesday or shortly thereafter" - just before his 100 day mark in office.
  • 12:05 PM » Fed's Fischer: Still anticipate 3 rate hikes this year, though 'we're not tied to' that
    Published Fri, Apr 21 2017 12:05 PM by CNBC
    Fed's Fischer: Still anticipate 3 rate hikes this year, though 'we're not tied to' that|| 104418216
  • 11:58 AM » CFPB proposes revisions to HMDA final rule
    Published Fri, Apr 21 2017 11:58 AM by www.consumerfinancemonitor.com
    On April 13, 2017, the CFPB proposed substantive changes and technical corrections to the 2015 Home Mortgage Disclosure Act (HMDA) Final Rule (Final Rule) amending Regulation C. The proposal, which is discussed in more detail here, would clarify certain key terms under the Final Rule, including temporary financing, automated underwriting system, multifamily dwelling, extension of […] Continue Reading
    Click Here to Read the Full Article

    Source: www.consumerfinancemonitor.com
  • 10:43 AM » Analyst Who Predicted Trump's Ascendancy Bets on Le Pen Win
    Published Fri, Apr 21 2017 10:43 AM by Bloomberg
    Bloomberg Analyst Who Predicted Trump's Ascendancy Bets on Le Pen Win Bloomberg Markets are underpricing the prospect of Marine Le Pen emerging victorious in the French election as a sea of undecided voters throws into sharp relief pronounced apathy for center-leftist Emmanuel Macron -- the front-runner by a whisker -- and the ... and more »
  • 8:29 AM » Cincinnati sues seller of foreclosed homes, claiming predatory acts
    Published Fri, Apr 21 2017 8:29 AM by CNBC
    In a sweeping lawsuit, Cincinnati took aim at one of the nation's largest sellers of foreclosed homes, Harbour Portfolio Advisors.
  • 8:28 AM » Black Knight: Mortgage Delinquencies Declined in March to 11 Year Low
    Published Fri, Apr 21 2017 8:28 AM by Calculated Risk Blog
    From Black Knight: Black Knight's First Look at March Mortgage Data: Delinquency Rate Drops to 11-Year Low; Prepayments Up 20 Percent from February's Three-Year Low • Delinquencies declined 14 percent month-over-month, hitting their lowest level since March 2006 and the fourth lowest point since the turn of the century   • Total non-current inventory - all loans 30 days or more past due or in active foreclosure - fell below 2.3 million, the lowest volume in 11 years   • After hitting a three-year low in February, prepayment speeds (historically a good indicator of refinance activity) rose 20 percent in March; still 26 percent below last year's level   • Foreclosure starts were up 4.15 percent for the month, but Q1 2017's 189,000 starts represented an 18 percent decline from Q1 2016 According to Black Knight's First Look report for March, the percent of loans delinquent decreased 14.1% in March compared to February, and declined 11.4% year-over-year. The percent of loans in the foreclosure process declined 4.6% in March and were down 29.2% over the last year. Black Knight reported the U.S. mortgage delinquency rate (loans 30 or more days past due, but not in foreclosure) was 3.62% in March, down from 4.21% in February. The percent of loans in the foreclosure process declined in March to 0.88%. The number of delinquent properties, but not in foreclosure, is down 231,000 properties year-over-year, and the number of properties in the foreclosure process is down 183,000 properties year-over-year. Black Knight: Percent Loans Delinquent and in Foreclosure Process   Mar 2017 Feb 2017 Mar 2016 Mar 2015 Delinquent 3.62% 4.21% 4.08% 4.66% In Foreclosure 0.88% 0.93% 1.25% 1.68% Number of properties: Number of properties that are delinquent, but not in foreclosure: 1,831,000 2,135,000 2,062,000 2,349,000 Number of properties in foreclosure pre-sale inventory: 448,000 470,000 631,000...
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 8:26 AM » This is what homeowners did with their savings on variable mortgage rates
    Published Fri, Apr 21 2017 8:26 AM by Market Watch
    Hint: They were not thinking about when rates would rise again.
  • Thu, Apr 20 2017
  • 4:28 PM » House to hold hearing on revised Financial CHOICE Act
    Published Thu, Apr 20 2017 4:28 PM by www.consumerfinancemonitor.com
    The House Financial Services Committee announced that it will hold a hearing on April 26, 2017 to discuss the Financial CHOICE Act. It also released a discussion draft of a revised version of the bill. In February, Rep. Hensarling, who chairs the Committee, circulated a memorandum to the Committee’s Leadership Team describing key revisions to the […] Continue Reading
    Click Here to Read the Full Article

    Source: www.consumerfinancemonitor.com
  • 2:28 PM » Treasury's Mnuchin: We're 'pretty close' to bringing forward 'major tax reform'
    Published Thu, Apr 20 2017 2:28 PM by CNBC
    Mnuchin, who this week backed off of his earlier goal of passing tax reform by August, said the White House is "pretty close" to unveiling a plan.
  • 1:23 PM » N.C. Commissioner of Banks Issues Cease-and-Desist Order to Ocwen Loan Servicing
    Published Thu, Apr 20 2017 1:23 PM by nccob.gov
    - N.C. Commissioner of Banks Ray Grace along with state mortgage regulators representing more than 20 states issued regulatory enforcement orders to subsidiaries of Ocwen Financial Corporation (Ocwen) today to address mishandling of consumer escrow accounts and a deficient financial condition.
  • 1:17 PM » Why the Exurbs Are Poised to Take Off in the Coming Years
    Published Thu, Apr 20 2017 1:17 PM by www.realtor.com
    The declining cost of distance will transform urban patterns-some cities will continue to grow, but migration out of cities will surge, particularly to exurbs 50 miles or more from a city center-giving rise to new micro economies where people live, work and play. The post Why the Exurbs Are Poised to Take Off in the Coming Years appeared first on Real Estate News & Advice | realtor.com® .
    Click Here to Read the Full Article

    Source: www.realtor.com
  • 1:17 PM » How to use this new formula to boost your credit score
    Published Thu, Apr 20 2017 1:17 PM by CNBC
    A new model from VantageScore will change how lenders calculate your credit score. But don't change your behavior just yet.
  • 12:54 PM » Treasuries Fall as Haven Bid Ebbs Ahead of French Election
    Published Thu, Apr 20 2017 12:54 PM by Bloomberg
    Bloomberg Treasuries Fall as Haven Bid Ebbs Ahead of French Election Bloomberg Treasuries fell, lifting yields further off year-to-date lows reached on Tuesday, amid steeper declines for most European government bond markets ahead of the French election on Sunday. Yields were higher by two to three basis points at 10:30 a.m. in ... and more »
  • 12:32 PM » European Close Sparks Dollar Buying Panic
    Published Thu, Apr 20 2017 12:32 PM by www.zerohedge.com
    It's unclear what the catalysts for this sudden vertical buying panic is, but minutes after Europe closed, the dollar suddenly went full bid, gold slipped, and Treasury yields rose...
    Click Here to Read the Full Article

    Source: www.zerohedge.com
  • 11:31 AM » Treasury traders are cleaning up as market gets bond call wrong again
    Published Thu, Apr 20 2017 11:31 AM by CNBC
    Trading action in Treasury bonds shows that smart investors know the bond bull market isn't over.
  • 11:31 AM » The biggest regrets people have after buying a home
    Published Thu, Apr 20 2017 11:31 AM by Washington Post
    The biggest regrets people have after buying a home<br/>https://www.washingtonpost.com/news/get-there/wp/2017/04/20/the-biggest-regrets-people-have-after-buying-a-home/
    Click Here to Read the Full Article

    Source: Washington Post
  • 11:31 AM » Increase in Remodeling Market Index Reflects Broad-Based Confidence
    Published Thu, Apr 20 2017 11:31 AM by eyeonhousing.org
    The National Association of Home Builders' (NAHB) Remodeling Market Index (RMI) posted a reading of 58 in the first quarter of 2017, up five points from the previous quarter. This reading is the highest since the fourth quarter of 2015 (Figure 1). A RMI above 50 indicates that more remodelers report market activity is higher (compared to the prior quarter)... Read More ›
    Click Here to Read the Full Article

    Source: eyeonhousing.org
  • 9:31 AM » Fed's Powell says parts of too-big-to-fail rules 'unnecessarily burdensome' and may not be needed at all
    Published Thu, Apr 20 2017 9:31 AM by CNBC
    Powell said parts of too-big-to-fail regulations were "inappropriately applied to small and medium-sized" banks.
  • 9:31 AM » Weekly jobless claims rise, while continuing claims hit 17-year low
    Published Thu, Apr 20 2017 9:31 AM by CNBC
    First-time claims for state unemployment benefits were expected to total 242,000 in the most recent week, up from the 234,000 claims reported for the previous week.
  • Wed, Apr 19 2017
  • 4:18 PM » Fed's Fischer: US policy normalization likely to be gradual
    Published Wed, Apr 19 2017 4:18 PM by CNBC
    Stanley Fischer, vice chairman of the Federal Reserve, said that spillovers from tightening "will be manageable."
  • 2:23 PM » U.S. economy shows only modest signs of inflation pressures: Fed
    Published Wed, Apr 19 2017 2:23 PM by Reuters
    WASHINGTON, (Reuters) - The U.S. economy expanded at a modest-to-moderate pace between mid-February and the end of March, but inflation pressures remained in check despite more difficulties in attracting and retaining workers, the Federal
  • 1:40 PM » US regulator knocks its own handling of Wells Fargo sales scandal
    Published Wed, Apr 19 2017 1:40 PM by CNBC
    Bank examiners "failed to follow-up on significant complaint management and sales practices issues."
  • 12:53 PM » Rosengren Expects Fed Will Buy Bonds Again to Combat Another Recession
    Published Wed, Apr 19 2017 12:53 PM by Market Watch
    The U.S. central bank should start shrinking its balance sheet but do it so slowly that it won't disturb its plans to gradually raise interest rates, said Boston Fed President Eric Rosengren on Wednesday.
  • 11:33 AM » Evidence the Fed can shrink its balance sheet without sparking a market tantrum
    Published Wed, Apr 19 2017 11:33 AM by Market Watch
    Worried the Fed's plan to start winding down its balance sheet will send financial markets into a tizzy? One economist finds comfort in how easy the market has already absorbed heavy selling by the two largest creditors to the U.S.
  • 10:20 AM » Does the market have the appetite for ultra-long bonds? Treasury wants to know
    Published Wed, Apr 19 2017 10:20 AM by Market Watch
    After U.S. Treasury Secretary Steven Mnuchin mooted the possibility of issuing ultra-long bonds, the Treasury has now asked potential buyers their opinion on the market impact would be if government bonds beyond the maturity of 30 years were sold.
  • 10:18 AM » 10 US cities where it's cheaper to buy a home than rent
    Published Wed, Apr 19 2017 10:18 AM by CNBC
    SmartAsset found the top 10 metro areas where homeowners come out ahead.
  • 10:17 AM » UK lawmakers officially approve June 8 election date
    Published Wed, Apr 19 2017 10:17 AM by CNBC
    U.K. lawmakers voted Wednesday to approve Prime Minister Theresa May's surprise call for a snap general election on June 8.
  • 10:17 AM » Bond Traders Stare Down Short Squeeze as Yields Test Key Levels
    Published Wed, Apr 19 2017 10:17 AM by Bloomberg
    Bloomberg Bond Traders Stare Down Short Squeeze as Yields Test Key Levels Bloomberg With yields across maturities reaching the lowest levels since November, and in some cases breaching key technical marks, traders are abandoning bets on higher interest rates. Hedge funds and other large speculators reduced net short positions in five ... and more »
  • 10:17 AM » AIA: Architecture Billings Index increased in March
    Published Wed, Apr 19 2017 10:17 AM by Calculated Risk Blog
    Note: This index is a leading indicator primarily for new Commercial Real Estate (CRE) investment. From the AIA: Architecture Billings Index continues to strengthen The first quarter of the year ended on a positive note for the Architecture Billings Index (ABI).  As a leading economic indicator of construction activity, the ABI reflects the approximate nine to twelve month lead time between architecture billings and construction spending. The American Institute of Architects (AIA) reported the March ABI score was 54.3 , up from a score of 50.7 in the previous month. This score reflects a sizable increase in design services (any score above 50 indicates an increase in billings). The new projects inquiry index was 59.8, down from a reading of 61.5 the previous month, while the new design contracts index dipped from 54.7 to 52.3. "The first quarter started out on uneasy footing, but fortunately ended on an upswing  entering the traditionally busy spring season," said AIA Chief Economist, Kermit Baker, Hon. AIA, PhD.  "All sectors showed growth except for the commercial/industrial market, which, for the first time in over a year displayed a decrease in design services." ... • Regional averages: Midwest (54.6), South (52.6), Northeast (52.4), West (50.2) • Sector index breakdown: multi-family residential (54.6), mixed practice (53.7), institutional (52.9), commercial / industrial (49.8) emphasis added Click on graph for larger image. This graph shows the Architecture Billings Index since 1996. The index was at 54.3 in January, up from 50.7 in February. 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...
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 10:16 AM » Young Adults & the Construction Trades
    Published Wed, Apr 19 2017 10:16 AM by eyeonhousing.org
    NAHB conducted a national poll of young adults ages 18 to 25 to find out how this age group feels about a career in the construction trades. The majority of young adults (74%) say they know the field in which they want to have a career. Of these, only 3% are interested in the construction trades. Most of the young... Read More ›
    Click Here to Read the Full Article

    Source: eyeonhousing.org
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