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  • Thu, Apr 21 2016
  • 8:21 AM » Thought Last Year Was Tough for Home Buyers? Just You Wait
    Published Thu, Apr 21 2016 8:21 AM by www.realtor.com
    Last year was tough for would-be home buyers, with few homes for sale and plenty of competition. But this year may be even worse. The post Thought Last Year Was Tough for Home Buyers? Just You Wait appeared first on Real Estate News and Advice - realtor.com .
    Click Here to Read the Full Article

    Source: www.realtor.com
  • 8:21 AM » Hamptons Home Sales Hit Three-Year Low on Wall Street Turbulence
    Published Thu, Apr 21 2016 8:21 AM by Bloomberg
    Bloomberg Hamptons Home Sales Hit Three-Year Low on Wall Street Turbulence Bloomberg Home sales in New York's Hamptons fell to the lowest level in three years as would-be buyers of beachside mansions stayed on the sidelines during a turbulent first quarter on Wall Street. Purchases in the Long Island resort towns, a second-home market ... and more »
  • 7:55 AM » ECB keeps main rate unchanged at 0.0 percent
    Published Thu, Apr 21 2016 7:55 AM by CNBC
    ECB keeps main rate unchanged at 0.0 percent|| 103566720
  • 7:51 AM » D.R. Horton profit boosted by higher home sales
    Published Thu, Apr 21 2016 7:51 AM by Reuters
    (Reuters) - D.R. Horton Inc , the largest U.S. homebuilder, reported a 32 percent rise in quarterly profit as it sold more homes.
  • Wed, Apr 20 2016
  • 4:45 PM » CoreLogic Reports First Quarter 2016 Financial Results
    Published Wed, Apr 20 2016 4:45 PM by www.corelogic.com
    Record First Quarter Revenues, Operating Income and Cash Flow; FNC Acquisition Completed Revenues up 24% to $454 million driven primarily by Valuation Solutions Group (VSG) launch and Risk Management and Workflow (RMW) market outperformance offset by lower U.S. origination volumes and unfavorable currency translation. Operating income from continuing operations up 16% to $57 million as higher revenue and cost reduction program benefits offset acquisition-related transaction and integration costs, severance and currency translation. Net income from continuing operations down 6% to $28 million on higher income tax provisions.  Diluted EPS from continuing operations of $0.31, comparable to prior year.  Adjusted EPS up 4% to $0.48 per share. Adjusted EBITDA up 5% to $106 million. Company closes acquisition of FNC, Inc. (FNC) and confirms a full-year repurchase target of at least 2 million common shares. CoreLogic (NYSE: CLGX), a leading global provider of property information, insight, analytics and data-enabled services, today reported financial results for the quarter ended March 31, 2016. “CoreLogic is off to a strong start in 2016.  Over the first three months of the year, we delivered significant top line growth and record free cash flow.  Despite an estimated 10% decline in U.S. loan originations, we also increased adjusted EBITDA and adjusted EPS while reinvesting for sustained stakeholder value creation,” said Anand Nallathambi, President and Chief Executive Officer of CoreLogic.  “Importantly, we are continuing to focus on scaling our market leading property intelligence, underwriting and risk management operations which provide “must have” insights, analytics and data-enabled services that help our current and future clients in the real estate ecosystem to more precisely underwrite and manage their risks and capitalize on opportunities...
    Click Here to Read the Full Article

    Source: www.corelogic.com
  • 4:45 PM » U.S. stocks gain for third day with S&P 500 at highest close since December
    Published Wed, Apr 20 2016 4:45 PM by Market Watch
    U.S. stocks rose for a third day with the S&P 500 finishing at its highest close since December as oil prices remained firm and economic data pointed to a steady recovery. May WTI crude settled at $42.63 a barrel, its highest of the year. Investors were also heartened by data that showed existing home sales rebounding in March. The S&P 500 rose 1.6 points to close at 2,102.40, the highest since it finished at 2,102.63 on Dec. 1. The Dow Jones Industrial Average added 42.67 points, or 0.2%, to end at 18,096.27 and the Nasdaq gained 7.80 points, or 0.2%, to finish at 4,948.13.
  • 4:44 PM » Banks pile into equities trading as salve for bond wounds
    Published Wed, Apr 20 2016 4:44 PM by Reuters
    (Reuters) - Wall Street banks are piling into equities trading and doing increasingly creative things to win over clients. But as competition heats up, the low-margin business may come under further pressure.
  • 3:18 PM » U.S. Stocks Fluctuate Amid Earnings With S&P 500 at 4-Month High
    Published Wed, Apr 20 2016 3:18 PM by Bloomberg
    Bloomberg U.S. Stocks Fluctuate Amid Earnings With S&P 500 at 4-Month High Bloomberg U.S. stocks were little changed, with the Standard & Poor's 500 Index hovering at four-month high as crude oil slipped while a better-than-forecast profit from Discover Financial Services helped offset underwhelming results at Coca-Cola Co. Coke fell ... and more »
  • 1:45 PM » Trump leans toward replacing Fed chief if he wins White House
    Published Wed, Apr 20 2016 1:45 PM by Reuters
    WASHINGTON (Reuters) - Republican presidential candidate Donald Trump would be inclined to replace Federal Reserve Chair Janet Yellen if he wins the White House despite supporting the U.S. central bank's efforts to keep interest rates low, he told Fortune magazine.
  • 1:45 PM » Houston's flood problem: Blame the pavement
    Published Wed, Apr 20 2016 1:45 PM by CNBC
    Houston's flooding is natural, but there are steps to reduce losses of life and property.
  • 11:54 AM » Young homebuyers cringe on credit scores
    Published Wed, Apr 20 2016 11:54 AM by CNBC
    About a third of future homebuyers say their credit score might hurt their ability to buy a home, according to a new survey by Experian.
  • 10:23 AM » Fed should better safeguard economic data, internal watchdog says
    Published Wed, Apr 20 2016 10:23 AM by Reuters
    (Reuters) - The Federal Reserve should beef up its controls over embargoed economic information given to news outlets, the U.S central bank's internal watchdog said on Wednesday in a 38-page report dated April 15 and released publicly on Wednesday.
  • 10:22 AM » When the Recession Comes, We Can Always Drop Money Out of Helicopters
    Published Wed, Apr 20 2016 10:22 AM by Bloomberg
    Bloomberg When the Recession Comes, We Can Always Drop Money Out of Helicopters Bloomberg Ben Bernanke's much-mocked defense of showering cash down on nervous Americans is enjoying a little renaissance. Peter Coy petercoy. April 20, 2016 - 6:00 AM EDT. Share on FacebookShare on TwitterShare on WhatsApp · Share on LinkedInShare on ... and more »
  • 8:24 AM » Monetary policy: Long road toward normal
    Published Wed, Apr 20 2016 8:24 AM by CNBC
    With markets swinging and central banks toying with negative interest, the Fed's rate hike may be its last for a while.
  • 8:08 AM » More Americans Say Real Estate Is Best Long-Term Investment
    Published Wed, Apr 20 2016 8:08 AM by www.gallup.com
    Thirty-five percent of Americans favor real estate as the best long-term investment choice, a four-percentage-point gain from last year that moves it further ahead of stocks (22%), gold (17%), savings accounts (15%) and bonds (7%).
    Click Here to Read the Full Article

    Source: www.gallup.com
  • 8:08 AM » US Treasurys rise as oil drops
    Published Wed, Apr 20 2016 8:08 AM by CNBC
    U.S. sovereign bond U.S. sovereign bond prices moved higher Wednesday as a fall in oil prices drew investors to safe haven assets.
  • Tue, Apr 19 2016
  • 2:40 PM » Lawler: Preliminary Table of Distressed Sales and All Cash Sales for Selected Cities in March
    Published Tue, Apr 19 2016 2:40 PM by Calculated Risk Blog
    Economist Tom Lawler sent me a preliminary table below of short sales, foreclosures and all cash sales for a few selected cities in March. On distressed: Total "distressed" share is down in all of these markets. Short sales and foreclosures are down in all of these areas. The All Cash Share (last two columns) is mostly declining year-over-year. As investors pull back, the share of all cash buyers will probably continue to decline.   Short Sales Share Foreclosure Sales Share Total "Distressed" Share All Cash Share Mar- 2016 Mar- 2015 Mar- 2016 Mar- 2015 Mar- 2016 Mar- 2015 Mar- 2016 Mar- 2015 Las Vegas 5.9% 8.3% 7.1% 9.3% 13.0% 17.6% 27.7% 32.4% Reno*             21.0% 23.2% Omaha             16.3% 16.1% Pensacola             28.3% 33.4% Memphis     15.0% 15.3%         Springfield ILSingle Family Only ***GAMLS
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 1:09 PM » Wage Stagnation Is to Blame for America's Financial Problems
    Published Tue, Apr 19 2016 1:09 PM by The Atlantic
    In The Atlantic 's May issue, Neal Gabler explores his own financial troubles for clues as to why so many Americans are struggling to remain financially solvent. We reached out to some of the leading scholars of the American middle class to ask what they make of Gabler's analysis. Edward Wolff, an NYU professor of economics, points to wage stagnation as the central factor: The ultimate culprit is wage stagnation, occurring now for over 40 years (average real wages peaked in 1973). This translates into income stagnation. For a while (until about 1990 or so) families compensated for stagnant wages by the increased participation of wives in the labor force. Once this opportunity was exhausted real incomes also stagnated. Indeed, according to Census data, median family income in 2013 was less than it was in 1997. As a result, over the last 20 years families have been forced to borrow in order to maintain their usual consumption. This process was aided by a generous expansion of credit, particularly through the home mortgage market. Largely abetted by a huge Chinese trade surplus and their consequent purchase of U.S. Treasury bonds, U.S. banks and other financial institutions were awash in cash. Enabled by lax mortgage regulation and rising home prices, financial institutions allowed generous re-financing of existing mortgages, expanded home equity credit lines, and issued a host of new types of mortgages including sub-prime, no or little down payment, and even no documentation loans. The result was a huge leap in household debt, particularly among the middle class (the debt-income ratio more than doubled between 1983 and 2007). The result has been a catastrophic collapse of the wealth of middle-income and lower-income households. Median net worth plummeted by 44 percent between 2007 and 2013 for middle income families, 61 percent for lower middle income families by, and by 70 percent for low income families. The collapse of wealth is one of the principal factors...
  • 1:07 PM » The Surprising Thing These Recession-Proof Neighborhoods Have in Common
    Published Tue, Apr 19 2016 1:07 PM by www.realtor.com
    Data now suggests government-sponsored mortgage insurance programs mitigated the effects of- and stimulated the recovery from- the great recession. The post The Surprising Thing These Recession-Proof Neighborhoods Have in Common appeared first on Real Estate News and Advice - realtor.com .
    Click Here to Read the Full Article

    Source: www.realtor.com
  • 11:36 AM » Homebuilder blues: Don't blame labor shortage
    Published Tue, Apr 19 2016 11:36 AM by CNBC
    Builders have been blaming weak home construction on labor shortages, but a new Goldman Sachs report suggests that's not the case.
  • 11:35 AM » Why Don't Americans Save Money?
    Published Tue, Apr 19 2016 11:35 AM by The Atlantic
    Kai Pfaffenbach / Reuters It is a myth that Americans cannot save. For decades, they did. When personal-finance columnists explain America's poor saving habits, they sometimes start with the aspects of the human mind that make it challenging to plan for the future. Behavioral psychology is a useful scapegoat for many foibles. But the decline in savings is recent, and the human brain hasn't evolved since the Ford administration. The bottom 90 percent of households saved 10 percent of their income in the first Reagan administration. By 2006, their savings rate was nearly negative-10 percent. Other writers suggest that the country's low saving rate is purely a matter of American exceptionalism. But it is also a myth that the U.S. is alone in its turn against saving in the last three decades. The personal savings rate has fallen in Canada, Germany, and Japan , as well. Still, there is something about the U.S.: Nearly half of Americans would not be able to come up with $400 in savings in an emergency, according to a Federal Reserve study cited in The Atlantic 's cover story this month . America's poor and its middle class live on the razor's edge of financial security through their working years and are uniquely ill-prepared for retirement. The United States finished 19th for three consecutive years in a global analysis of retirement security, behind Australia, New Zealand, Japan, South Korea, Canada, and 13 European countries. So, why don't Americans save money? A complete answer should take into consideration three things: (1) Since the phenomenon is new, its cause must be new. (2) Since the decline in savings among rich countries is global, its cause must be global. (3) Since America's poor and middle class are so especially ill-prepared for retirement, there must be something "special" about America. Theory 1: Americans stopped saving when their incomes stopped growing. The heyday of American saving was also a heyday of American...
  • 11:34 AM » Goldman Sachs revenue slumps to lowest in more than four years
    Published Tue, Apr 19 2016 11:34 AM by Reuters
    (Reuters) - Goldman Sachs Group Inc's quarterly profit fell by more than half and revenue slumped to its lowest in more than four years as market volatility hit the Wall Street bank's bond trading and investment banking businesses.
  • 11:33 AM » Bond guru Jeff Gundlach says ‘Brexit' won't happen, but Twitter disagrees
    Published Tue, Apr 19 2016 11:33 AM by Market Watch
    Just as Scots didn't vote to leave the U.K., Brits won't vote to leave the European Union. That's what bond guru Jeff Gundlach thinks - and he's quite sure of it.
  • 9:29 AM » As Fed goes silent, so too go chances of April rate hike
    Published Tue, Apr 19 2016 9:29 AM by Market Watch
    The chance of a Federal Reserve rate hike appear to be nil ahead of its policy committee meeting next week, economists said.
  • 9:29 AM » U.S. Economic Confidence Index Stable at -12
    Published Tue, Apr 19 2016 9:29 AM by www.gallup.com
    After several turbulent days drove economic confidence to its 2016 low point two weeks ago, Americans' views of the economy have stabilized to prior levels. Gallup's U.S. Economic Confidence Index now stands at -12.
    Click Here to Read the Full Article

    Source: www.gallup.com
  • 9:26 AM » U.S. housing starts plunge, building permits hit one-year low
    Published Tue, Apr 19 2016 9:26 AM by Reuters
    WASHINGTON, April 19 (Reuters) - - U.S. housing starts fell more than expected in March and permits for future home construction hit a one-year low, suggesting some cooling in the housing market in line with signs of a sharp slowdown in economic growth in the first quarter.
  • 8:19 AM » Fed's Rosengren takes shot at markets
    Published Tue, Apr 19 2016 8:19 AM by CNBC
    A top Fed official on Monday once again pushed back on what he said was investors' too pessimistic view of the U.S. economy and monetary policy.
  • 8:12 AM » Goldman earnings beat
    Published Tue, Apr 19 2016 8:12 AM by CNBC
    Goldman Sachs reported quarterly earnings that topped analysts' expectations on Tuesday, but revenue came in light.
  • 8:12 AM » Fed's slipped up by delaying rate hikes. Here's why
    Published Tue, Apr 19 2016 8:12 AM by CNBC
    The U.S. Fed has made a "policy mistake" by holding back further rate hikes in 2016, according to a report by London-based ETF Securities.
  • 8:08 AM » The Secret Shame of Middle-Class Americans
    Published Tue, Apr 19 2016 8:08 AM by The Atlantic
    Hugh Kretschmer S ince 2013, the Federal Reserve Board has conducted a survey to "monitor the financial and economic status of American consumers." Most of the data in the latest survey, frankly, are less than earth-shattering: 49 percent of part-time workers would prefer to work more hours at their current wage; 29 percent of Americans expect to earn a higher income in the coming year; 43 percent of homeowners who have owned their home for at least a year believe its value has increased. But the answer to one question was astonishing. The Fed asked respondents how they would pay for a $400 emergency. The answer: 47 percent of respondents said that either they would cover the expense by borrowing or selling something, or they would not be able to come up with the $400 at all. Four hundred dollars! Who knew? Well, I knew. I knew because I am in that 47 percent. I know what it is like to have to juggle creditors to make it through a week. I know what it is like to have to swallow my pride and constantly dun people to pay me so that I can pay others. I know what it is like to have liens slapped on me and to have my bank account levied by creditors. I know what it is like to be down to my last $5-literally-while I wait for a paycheck to arrive, and I know what it is like to subsist for days on a diet of eggs. I know what it is like to dread going to the mailbox, because there will always be new bills to pay but seldom a check with which to pay them. I know what it is like to have to tell my daughter that I didn't know if I would be able to pay for her wedding; it all depended on whether something good happened. And I know what it is like to have to borrow money from my adult daughters because my wife and I ran out of heating oil. You wouldn't know any of that to look at me. I like to think I appear reasonably prosperous. Nor would you know it to look at my résumé. I have had a passably good career as a writer-five books, hundreds of articles published,...
  • 8:00 AM » NY judge clears Pimco to pursue California lawsuit against AIG
    Published Tue, Apr 19 2016 8:00 AM by Reuters
    (Reuters) - A federal judge on Monday cleared the way for Pacific Investment Management Co to pursue a California lawsuit accusing American International Group Inc of causing big losses by lying about its subprime mortgage exposure before its 2008 bailout.
  • 8:00 AM » US Treasury prices lower as oil rises
    Published Tue, Apr 19 2016 8:00 AM by CNBC
    U.S. sovereign bond prices moved lower Tuesday as investors opted for riskier assets on the back of rising oil prices.
  • 7:58 AM » MGIC Investment Corporation Reports First Quarter 2016 Results
    Published Tue, Apr 19 2016 7:58 AM by phx.corporate-ir.net
    Records First Quarter 2016 Net Income of $69.2 Million MILWAUKEE, April 19, 2016 /PRNewswire/ -- MGIC Investment Corporation (NYSE:MTG) today reported net income for the quarter ended March 31, 2016 of $69.2 million, compared with a net income of $133.1 million for the same quarter a year ago. Diluted net income per share was $0.17 for the quarter ending March 31, 2016, compared to diluted net income per share of $0.32 for the same quarter a year ago. As explained below there was activity in both periods that impacted the comparability of results on a year over year basis. Patrick Sinks, CEO of MTG and Mortgage Guaranty Insurance Corporation ("MGIC"), said, "I am pleased to report that...
    Click Here to Read the Full Article

    Source: phx.corporate-ir.net
  • Mon, Apr 18 2016
  • 5:07 PM » Wells Fargo Named Primary Dealer for U.S. Debt by New York Fed
    Published Mon, Apr 18 2016 5:07 PM by Bloomberg
    Wells Fargo Named Primary Dealer for U.S. Debt by New York Fed Bloomberg Wells Fargo & Co., the most valuable U.S. bank, was designated a primary dealer by the Federal Reserve Bank of New York. Primary dealers are required to participate in all auctions of U.S. government debt and serve as a trading counterparty for the New ... and more »
  • 5:06 PM » Lawler: Early Look at Existing Home Sales in March
    Published Mon, Apr 18 2016 5:06 PM by Calculated Risk Blog
    From housing economist Tom Lawler: Early Look at Existing Home Sales in March Based on publicly-available state and local realtor/MLS reports released through today, I project that US existing home sales as estimated by the National Association of Realtors ran at a seasonally adjusted annual rate of 5.27 million in March, up 3.7% from February's preliminary pace (which should be revised up slightly), and up 0.4% from last March's seasonally adjusted pace. Unadjusted sales should register a slightly higher YOY gain, as there was one more business day this March compared to last March. Local realtor/MLS data suggest that the NAR's estimate of the inventory of existing homes for sale at the end of March should be about 5.0% higher than February's preliminary estimate, and down 1.8% from last February. Finally, local/realtor/MLS data suggest that the NAR's estimate of the median existing single-family home sales price in March should be up by about 4.7% from a year earlier. CR Note: March existing home sales will be released on Wednesday, and the The consensus is for 5.27 million SAAR (the same as Lawler).
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 5:06 PM » UBS blamed in U.S. trial for $2.1 billion in mortgage bond losses
    Published Mon, Apr 18 2016 5:06 PM by Reuters
    NEW YORK (Reuters) - UBS AG went to trial on Monday over $2.1 billion in losses that investors incurred on mortgage-backed securities after the collapse of the U.S. housing market.
  • 5:06 PM » Wells Fargo Securities Designated a Primary Dealer by the Federal Reserve Bank of New York
    Published Mon, Apr 18 2016 5:06 PM by www.wellsfargo.com
    Wells Fargo Securities Designated a Primary Dealer by the Federal Reserve Bank of New York<br/>https://www.wellsfargo.com/about/press/2016/designated-primary-dealer_0418.content
    Click Here to Read the Full Article

    Source: www.wellsfargo.com
  • 2:41 PM » If oil stays cheap, household spending could rise: Fed paper
    Published Mon, Apr 18 2016 2:41 PM by Reuters
    SAN FRANCISCO (Reuters) - The dramatic drop in the price of oil since 2014 has delivered only a muted boost to the U.S. economy, but that could change if households start figuring cheap oil is here to stay.
  • 2:41 PM » The Fed: Fed's Kashkari says U.S. economy in ‘uncharted waters'
    Published Mon, Apr 18 2016 2:41 PM by Market Watch
    Minneapolis Fed President Neel Kashkari said the U.S. economy is in 'uncharted water' suggesting he backs Fed Chairwoman Janet Yellen's cautious approach to monetary policy.
  • 2:37 PM » Non-Bank Servicers Creating Bigger Mortgage Problems
    Published Mon, Apr 18 2016 2:37 PM by www.realtor.com
    Many of the same old problems the NMS partly sought to address are back with the nonbank servicers. The post Non-Bank Servicers Creating Bigger Mortgage Problems appeared first on Real Estate News and Advice - realtor.com .
    Click Here to Read the Full Article

    Source: www.realtor.com
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