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  • Wed, Sep 28 2016
  • 8:21 AM » Germany denies preparing Deutsche Bank rescue plan
    Published Wed, Sep 28 2016 8:21 AM by Reuters
    FRANKFURT (Reuters) - The German government denied it was working on a rescue of Deutsche Bank as Germany's biggest lender boosted its balance sheet by selling its British insurance business on Wednesday.
  • Tue, Sep 27 2016
  • 4:16 PM » NAR President Tom Salomone Calls HUD Condo Rule a "Start," but Says More Changes Needed
    Published Tue, Sep 27 2016 4:16 PM by Google News
    WASHINGTON (September 27, 2016) – When H.R. 3700, the “Housing Opportunity Through Modernization Act,” was signed into law earlier this year, the Department of Housing and Urban Development was given notice that they had 90 days to weigh in on regulations related to Federal Housing Administration financing for condominiums before changes automatically went into effect. These included... Read More
  • 4:16 PM » Trump's attack on Yellen, Fed could backfire
    Published Tue, Sep 27 2016 4:16 PM by CNBC
    Many on Wall Street agree with Donald Trump's criticism that the Fed waited too long to raise rates.
  • 1:57 PM » If Trump wins, 'Yellen would resign fairly quickly': Economist
    Published Tue, Sep 27 2016 1:57 PM by CNBC
    The speculation comes amid a fresh round of criticism the outspoken New York businessman has lobbed at the Fed.
  • 12:39 PM » Why US bond yields could fall way, way lower
    Published Tue, Sep 27 2016 12:39 PM by CNBC
    Some experts say bond yields could sink further.
  • 10:21 AM » Outdoor Remodeling Projects See High Happiness and Financial Returns, Say Realtors®
    Published Tue, Sep 27 2016 10:21 AM by Google News
    WASHINGTON (September 27, 2016) — Homeowners looking to tackle a remodeling project should head outside, according to a new report from the National Association of Realtors® and National Association of Landscape Professionals. The  2016 Remodeling Impact Report: Outdoor Features  shows that not only can outdoor remodeling projects add value to a home on resale, but they can also bring advantages to homeowners planning to stay in their homes in the form of increased happiness.  ... Read More
  • 8:59 AM » BlackRock Issues Warning on Treasuries as Fed Moves Toward Hike
    Published Tue, Sep 27 2016 8:59 AM by Bloomberg
    Bloomberg BlackRock Issues Warning on Treasuries as Fed Moves Toward Hike Bloomberg BlackRock Inc., the world's biggest money manager, said investors should be wary of Treasuries as the Federal Reserve moves toward raising interest rates. "It's time to rethink the role of U.S. Treasuries in portfolios," Richard Turnill, BlackRock's ... and more »
  • 8:59 AM » Demand Strenthened Again in August, Putting Some Wind in the Market's Sail Heading into Fall
    Published Tue, Sep 27 2016 8:59 AM by
    Denver posted the biggest monthly gain in homebuyer demand, which still fell short of last year's level The post Demand Strenthened Again in August, Putting Some Wind in the Market's Sail Heading into Fall appeared first on Redfin Real-Time .
    Click Here to Read the Full Article

  • 8:58 AM » Worries over German banks sink bond issue, hit shares
    Published Tue, Sep 27 2016 8:58 AM by Reuters
    FRANKFURT (Reuters) - Deutsche Bank shares hit a record low on Tuesday and state-backed lender NordLB scrapped plans for a 500 million euro ($560 million) bond sale, underlining investor concern about the health of the financial industry in Europe's largest economy.
  • Mon, Sep 26 2016
  • 4:06 PM » Duy on the Fed: "December Looking Good. But ..."
    Published Mon, Sep 26 2016 4:06 PM by Calculated Risk Blog
    From Tim Duy: December Looking Good. But ... FOMC doves squeezed out another victory at last week's meeting. But can they do it again in December? As was widely expected, the Fed held rates steady at the September FOMC meeting. That said, the meeting was clearly divisive, with three dissents, all from regional bank presidents. And the accompanying statement leaned in a hawkish direction - the committee noted that near-term risks were "balanced" and that the case for a rate hike had "strengthened." Moreover, only three of the participants did not expect a rate hike before year end. And if that was not enough, during her press conference, Federal Reserve Chair Janet Yellen suggested the bar to a December rate hike was low: ... most participants do expect that one increase in the federal funds rate will be appropriate this year and I would expect to see that if we continue on the current course of labor market improvement and there are no major new risks that develop and we simply stay on the current course. Sounds like December is a go. But markets are not entirely convinced, with participants pricing in a roughly 60% chance of a rate hike. Perhaps this pricing reflects post-election economic risk. Or perhaps it reflects the possibility that the doves can stare down the hawks one more time before the composition of the Board changes next year. ... Bottom Line: Doves on the Board continue to delay the preemptive strike on inflation. Stalling gains on unemployment and underemployment gave them the ammunition to stand their ground. If those gains resume, doves will fall prey to the hawks at the next meeting. But they will have an easier time maintaining a shallow path of policy next year, and hopefully are better set to communicate that path. CR Note: A rate hike in December seems likely right now.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 4:06 PM » Freddie Mac Launches New Front-End Risk Transfer Offering
    Published Mon, Sep 26 2016 4:06 PM by
    Freddie Mac Launches New Front-End Risk Transfer Offering
    Click Here to Read the Full Article

  • 1:52 PM » A few Comments on August New Home Sales
    Published Mon, Sep 26 2016 1:52 PM by Calculated Risk Blog
    The new home sales report for August was strong at 609,000 on a seasonally adjusted annual rate basis (SAAR) - the highest for the month of August since 2007 - and the second highest sales rate since January 2008 (only last month was higher).  However combined sales for May, June and July were revised down slightly. Sales were up 20.6% year-over-year (YoY) compared to August 2015. And sales are up 13.3% year-to-date compared to the same period in 2015. This is very solid year-over-year growth. And new home sales are much more important for jobs and the economy than existing home sales. Since existing sales are existing stock, the only direct contribution to GDP is the broker's commission. There is usually some additional spending with an existing home purchase - new furniture, etc - but overall the economic impact is small compared to a new home sale. Earlier: New Home Sales decreased to 609,000 Annual Rate in August . Click on graph for larger image. This graph shows new home sales for 2015 and 2016 by month (Seasonally Adjusted Annual Rate).  Sales to date are up 13.3% year-over-year, because of very strong year-over-year growth over the last five months. Overall   I expected lower growth this year , in the 4% to 8% range.  Slower growth seemed likely this year because  Houston (and other oil producing areas) will have a problem this year .   It looks like I was too pessimistic on new home sales this year. And here is another update to the "distressing gap" graph that I first started posting a number of years ago to show the emerging gap caused by distressed sales.  Now I'm looking for the gap to close over the next several years. The "distressing gap" graph shows existing home sales (left axis) and new home sales (right axis) through August 2016. This graph starts in 1994, but the relationship had been fairly steady back to the '60s. Following...
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 1:51 PM » Tarullo: Fed will seek more capital from largest US banks
    Published Mon, Sep 26 2016 1:51 PM by CNBC
    The Federal Reserve will seek more capital from largest US banks and relieve smaller banks, Fed Governor Daniel Tarullo said Monday.
  • 1:51 PM » Desktop Underwriter 10.0 Means Greater Simplicity and ...
    Published Mon, Sep 26 2016 1:51 PM by Fannie Mae
    Fannie Mae Enhances Its Industry-Leading Automated Underwriting Tool; Expands Access to Credit and Sustainable Homeownership.
  • 1:51 PM » Homeowners on the Move Are Choosing More Affordable States
    Published Mon, Sep 26 2016 1:51 PM by
    Pricey states like California are seeing sellers pack up for cheaper places such as Texas and Arizona. The post Homeowners on the Move Are Choosing More Affordable States appeared first on Real Estate News and Advice - .
    Click Here to Read the Full Article

  • 11:22 AM » SEC drops some claims against ex-Thornburg Mortgage executives
    Published Mon, Sep 26 2016 11:22 AM by Reuters
    (Reuters) - The U.S. Securities and Exchange Commission has dropped several claims against two former executives at now-defunct home lender Thornburg Mortgage Inc in a lawsuit brought in the wake of the 2008 financial crisis.
  • 10:11 AM » U.S. new home sales fall less than expected in August
    Published Mon, Sep 26 2016 10:11 AM by Reuters
    WASHINGTON, Sept 26 (Reuters) - New U.S. single-family home sales fell less than expected in August, though prices fell and inventories rose.
  • 9:10 AM » Should I rent or buy a house?
    Published Mon, Sep 26 2016 9:10 AM by Market Watch
    Paying rent every month feels like throwing money away. Should I keep renting or buy a house?
  • 9:09 AM » The Hot New Millennial Housing Trend Is a Repeat of the Middle Ages
    Published Mon, Sep 26 2016 9:09 AM by The Atlantic
    For most of human history, people were hunter-gatherers. They lived in large camps, depending on one another for food, childcare, and everything else-all without walls, doors, or picket fences. In comparison, the number of people living in most households in today's developed countries is quite small. According to the Census Bureau, fewer than three people lived in the average American household in 2010. The members of most American households can be counted on one hand, or even, increasingly, one finger: Single-person households only made up about 13 percent of all American households in 1960. Now, that figure is about 28 percent. Belonging to a relatively small household has become the norm even though it can make daily life more difficult in many ways. Privacy may be nice, but cooking and doing chores become much less time-consuming when shared with an additional person, or even several people. Water, electric, and internet bills also become more bearable when divided among multiple residents. There are social downsides to living alone, too. Many elderly people, young professionals, stay-at-home parents, and single people routinely spend long stretches of time at home alone, no matter how lonely they may feel; more distressingly, many single parents face the catch-22 of working and paying for childcare. Living in smaller numbers can be a drain on money, time, and feelings of community, and the rise of the two-parent dual-earning household only compounds the problems of being time-poor. It wasn't always like this. Living arrangements have been changing for thousands of years, and the concept of the nuclear family originated relatively recently. Even as the economy has moved away from the sort of agricultural labor that would encourage large households, people still have just as much of a need for the support of friends, family, and neighbors. Perhaps that is why so many people today-from young coders to lonely septuagenarians to families-are experimenting with...
  • 9:08 AM » Treasury Market's Biggest Buyers Are Selling as Never Before
    Published Mon, Sep 26 2016 9:08 AM by Bloomberg
    Bloomberg Treasury Market's Biggest Buyers Are Selling as Never Before Bloomberg They've long been one of the most reliable sources of demand for U.S. government debt. But these days, foreign central banks have become yet another worry for investors in the world's most important bond market. Holders like China and Japan have culled ... and more »
  • 9:07 AM » Your bond funds may be a 'ticking time bomb'
    Published Mon, Sep 26 2016 9:07 AM by CNBC
    With the Federal Reserve planning to gradually raise interest rates, investors should know this about their fixed-income portfolios.
  • 9:05 AM » Black Knight: House Price Index up 0.4% in July, Up 5.3% year-over-year
    Published Mon, Sep 26 2016 9:05 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: July 2016 Transactions, U.S. Home Prices Up 0.4 Percent for the Month; Up 5.3 Percent Year-Over-Year • U.S. home prices were up 0.4 percent for the month, and have gained 5.3 percent from one year ago • At $266K, the U.S. HPI has risen over 33 percent from the market's bottom and is now within just 0.8 percent of a new national peak • Home prices in nine of the nation's 20 largest states and 14 of the 40 largest metros hit new peaks in July The year-over-year increase in this index has been about the same for the last year. Note that house prices are close to the bubble peak in nominal terms, but not adjusted for inflation.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • Fri, Sep 23 2016
  • 4:51 PM » Op-Ed: How Airbnb can defeat the regulators
    Published Fri, Sep 23 2016 4:51 PM by CNBC
    Airbnb faces a 'buzz saw" of political opposition in some of its biggest markets. Here's how it can win the fight, says Bradely Tusk.
  • 2:35 PM » Fed's Kashkari Discusses Monetary Policy in 140 Characters
    Published Fri, Sep 23 2016 2:35 PM by Bloomberg
    Fed's Kashkari Discusses Monetary Policy in 140 Characters Bloomberg The only thing missing were the emojis. Federal Reserve Bank of Minneapolis President Neel Kashkari on Friday fielded questions in a live exchange with followers on Twitter, mixing monetary policy and macro-economics with NFL smack-talk. #AskNeel. and more »
  • 1:43 PM » Economic issues in the presidential election
    Published Fri, Sep 23 2016 1:43 PM by
    David Wessel, senior fellow and director of the Hutchins Center on Fiscal and Monetary Policy, looks at Hillary Clinton's and Donald Trump's different approaches to policy issues including taxes, family leave, and trade. "Hilary Clinton believes that the gap between the rich and poor, between the winners and losers in our economy has gotten too […]                
    Click Here to Read the Full Article

  • 12:10 PM » N.Y. Fed lowers outlook on U.S. GDP growth for third and fourth quarters
    Published Fri, Sep 23 2016 12:10 PM by Reuters
    NEW YORK (Reuters) - The New York Federal Reserve on Friday lowered its forecast on U.S. economic growth in the third quarter and fourth quarters from what it estimated a week earlier following weaker-than-expected housing starts data for August.
  • 12:09 PM » Pimco says bond yields to rise gradually as central banks run out of rope
    Published Fri, Sep 23 2016 12:09 PM by Reuters
    LONDON (Reuters) - Global bond yields will rise modestly and spikes in volatility could be more commonplace in the coming years as loose central bank policy loses its potency, Pimco's bonds CIO said on Friday.
  • 11:19 AM » Industry Applauds Introduction of Middle-Income Housing Tax
    Published Fri, Sep 23 2016 11:19 AM by NMHC
    In a tremendous victory for NMHC and NAA, Senate Finance Committee Ranking Member Ron Wyden (D-OR) on September 22 introduced legislation to spur the production of multifamily rental homes for America's working families through a Middle-Income Housing Tax Credit (MIHTC) that complements the Low-Income Housing Tax Credit.
  • 10:04 AM » Why Aren't We Building More Mobile Homes?
    Published Fri, Sep 23 2016 10:04 AM by Bloomberg
    Bloomberg Why Aren't We Building More Mobile Homes? Bloomberg People in West Virginia accepted delivery of just over 1,000 mobile homes last year, according to census data. Over the same period, home builders obtained permits to build about 2,000 single-family homes. In other words, roughly one in three homes ...
  • 10:04 AM » Boston Fed's Rosengren says economy needs 'modest, gradual tightening now'
    Published Fri, Sep 23 2016 10:04 AM by Reuters
    WASHINGTON (Reuters) - Boston Federal Reserve President Eric Rosengren said on Friday that he believed interest rates should be raised gradually now and warned that a fall in the unemployment rate below its sustainable level could derail economic recovery in the United States.
  • 10:01 AM » Lawler: Table of Distressed Sales and All Cash Sales for Selected Cities in August
    Published Fri, Sep 23 2016 10:01 AM by Calculated Risk Blog
    Economist Tom Lawler sent me the table below of short sales, foreclosures and all cash sales for selected cities in August. On distressed: Total "distressed" share is down year-over-year in all of these markets. Short sales and foreclosures are down in all of these areas (except a minor increase in Springfield). The All Cash Share (last two columns) is mostly declining year-over-year. As investors continue to pull back, the share of all cash buyers continues to decline.   Short Sales Share Foreclosure Sales Share Total "Distressed" Share All Cash Share Aug- 2016 Aug- 2015 Aug- 2016 Aug- 2015 Aug- 2016 Aug- 2015 Aug- 2016 Aug- 2015 Las Vegas 4.1% 6.2% 5.5% 7.0% 9.6% 13.2% 25.8% 28.2% Phoenix 2.1% 2.7% 2.3% 3.4% 4.4% 6.1% 20.3% 22.6% Sacramento 2.9% 4.3% 2.9% 3.8% 5.8% 8.0% 15.3% 18.8% Minneapolis 1.1% 1.7% 3.8% 6.1% 4.9% 7.8% 12.1% 11.7% Mid-Atlantic 2.8% 3.2% 8.6% 10.5% 11.4% 13.7% 16.7% 16.5% Florida SF 2.1% 3.5% 8.0% 16.6% 10.1% 20.2% 27.3% 33.6% Florida C/TH 1.4% 2.3% 7.3% 15.3% 8.6% 17.6% 55.0% 59.7% Miami MSA SF 2.9% 5.9% 9.5% 17.9% 12.4% 23.8% 26.5% 32.0% Miami MSA C/TH 1.7% 3.0% 10.0% 19.2% 11.7% 22.2% 56.1% 62.9% Chicago (city)         12.4% 15.0%     Northeast Florida         14.2% 25.8%     Rhode Island         8.0% 10.1%     Spokane         6.1% 10.0%     Toledo             24.9% 30.3% Tucson             20.9% 25.8% Knoxville             22.5% 23.4% Peoria             20.2% 17.2% Georgia     6.8% 6.6%         *share of existing...
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 10:00 AM » Asking Prices of Apartments and Condominiums in the First Quarter of 2016
    Published Fri, Sep 23 2016 10:00 AM by
    The US Census Bureau, along with the US Department of Commerce (DOC) and the US Department of Housing and Urban Development (HUD), fund and publish the Survey of Market Absorption (SOMA). The SOMA contains data on recently completed apartments and condominiums, including the asking rent and sale prices of these units. The median asking price of privately financed, unfurnished, nonsubsidized... Read More ›
    Click Here to Read the Full Article

  • 10:00 AM » The Benefits of Home Buying in Fall and Winter
    Published Fri, Sep 23 2016 10:00 AM by
    While most home buyers prefer to buy in the summer, waiting can give them more leverage.
    Click Here to Read the Full Article

  • 8:32 AM » Treasuries Set for Best Week Since July as Fed Tempers Rate View - Bloomberg
    Published Fri, Sep 23 2016 8:32 AM by Bloomberg
    Bloomberg Treasuries Set for Best Week Since July as Fed Tempers Rate View Bloomberg Longer-dated Treasuries were on course for their biggest weekly advance since July as markets readjusted their view to a slower pace of interest-rate increases from the Federal Reserve. The 30-year bond yield dropped to its lowest in two weeks Friday ... and more »
  • 8:32 AM » Op-Ed: The economy is edging closer to a 'black hole'
    Published Fri, Sep 23 2016 8:32 AM by CNBC
    Investors should start brushing up on astrophysics to understand why the world's economy may be approaching a cosmic conclusion, says Stephen Scott.
  • 8:30 AM » CoreLogic to Announce Third Quarter 2016 Financial Results
    Published Fri, Sep 23 2016 8:30 AM by
    CoreLogic ® (NYSE: CLGX), a leading global property information, insight, analytics and data-enabled solutions provider, confirmed today that it will release its third quarter 2016 financial results after the market close on Monday, October 24, 2016. The press release, with accompanying financial information, will be posted on the CoreLogic investor website at . The company will host a live webcast and conference call to discuss third quarter 2016 financial results on Tuesday, October 25, 2016, at 8:00 a.m. Pacific Time (11:00 a.m. Eastern Time). All interested parties are invited to listen to the event via webcast on the CoreLogic website at . Alternatively, participants may use the following dial-in numbers: 1-877-930-8098 for U.S./Canada callers or 253-336-8228 for international callers. The Conference ID for the call is 85282281. A replay of the webcast will be available on the CoreLogic investor website for 30 days and also through the conference call number 855-859-2056 for U.S./Canada participants or 404-537-3406 for international participants using Conference ID 85282281. About CoreLogic CoreLogic (NYSE: CLGX) is a leading global property information, analytics and data-enabled solutions provider. The Company's combined data from public, contributory and proprietary sources includes over 4.5 billion records spanning more than 50 years, providing detailed coverage of property, mortgages and other encumbrances, consumer credit, tenancy, location, hazard risk and related performance information. The markets CoreLogic serves include real estate and mortgage finance, insurance, capital markets, and the public sector. CoreLogic delivers value to clients through unique data, analytics, workflow technology, advisory and managed solutions. Clients rely on CoreLogic to help identify and manage growth opportunities, improve performance and...
    Click Here to Read the Full Article

  • Thu, Sep 22 2016
  • 1:42 PM » Fed is ‘perilously close' to losing its credibility, says economist
    Published Thu, Sep 22 2016 1:42 PM by Market Watch
    The Federal Reserve is "perilously close" to losing its credibility after making rate hike after many officials pointed to action.
  • 1:22 PM » ETF Investing: Bond funds see a rare period of outflows as investors grapple with Fed
    Published Thu, Sep 22 2016 1:22 PM by Market Watch
    While fixed income remains a hugely popular asset class this year, bond funds saw their first week of outflows last week, following 10 straight weeks of sharp inflows.
  • 11:36 AM » Instead of Great Divergence, Central Banks Are Converging Again
    Published Thu, Sep 22 2016 11:36 AM by Bloomberg
    Bloomberg Instead of Great Divergence, Central Banks Are Converging Again Bloomberg This was meant to be the year of monetary policy divergence. Instead, major central banks' paths -- albeit on different trajectories -- are converging once more. The Federal Reserve held fire Wednesday and scaled back tightening plans. Hours earlier ... and more »
  • 11:31 AM » ECB's Draghi warns crowded banking sector is squashing profits
    Published Thu, Sep 22 2016 11:31 AM by Market Watch
    European Central Bank President Mario Draghi is warning the region's banking sector is getting too crowded, with overcapacity eroding profits and ultimately forcing some lenders to shake up their business.
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Mortgage Rates:
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