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  • Wed, May 17 2017
  • 1:07 PM » Fed's Rate-Hike Odds Tumble After Washington Chaos Hits Bond Market
    Published Wed, May 17 2017 1:07 PM by Bloomberg
    Bloomberg Fed's Rate-Hike Odds Tumble After Washington Chaos Hits Bond Market Bloomberg The bond market is interpreting what could be the deepest crisis of Donald Trump's presidency as throwing the Federal Reserve off its path for interest-rate increases this year. The odds that the central bank raises its benchmark rate next month are ... and more »
  • 10:47 AM » Financials tumble in biggest one-day drop in April as political uncertainty weighs
    Published Wed, May 17 2017 10:47 AM by Market Watch
    Shares of financial companies dropped on Wednesday, leading the overall market's decline as political turmoil intensified, weighing on investor sentiment. The Financial Select Sector SPDR ETF fell 1.8% in its biggest one-day drop since late March. It was by far the biggest decliner among the largest sector-tracking exchange-traded funds. Among the most actively traded stocks in the sector, Goldman Sachs Group Inc. sank 2.1% while Bank of America Corp. lost 3.3%. Citigroup Inc. fell 1.8% while J.P. Morgan Chase & Co. shed 2.1%. Among other financial ETFs, the SPDR S&P Bank ETF lost 2.3% while the regional equivalent fell 2.5%. The sector has been one of the biggest beneficiaries to the so-called "Trump rally," climbing on hopes that President Donald Trump would deregulate the industry and push through other initiatives that were seen as supportive to the sector's profits. Getting such legislation may be less likely in the current environment, as Trump faces controversy for his recent firing of the then-director of the Federal Bureau of Investigation, who had been investigating Trump's former-national security adviser.
  • 10:45 AM » Judge says he may reject parts of Wells Fargo accounts settlement
    Published Wed, May 17 2017 10:45 AM by Reuters
    (Reuters) - A federal judge signaled that he may reject parts of Wells Fargo & Co's proposed $142 million settlement with customers for whom it opened millions of unauthorized accounts.
  • 10:00 AM » Bond Report: Treasury yields sink as Trump FBI controversy intensifies
    Published Wed, May 17 2017 10:00 AM by Market Watch
    Treasury yields slip Wednesday as geopolitical jitters linger from President Donald Trump's dismissal of the former Federal Bureau of Investigation director James Comey, drawing a flight-to-quality from overseas investors.
  • 8:57 AM » New Single-Family Home Size Continues to Trend Down
    Published Wed, May 17 2017 8:57 AM by eyeonhousing.org
    After increasing and leveling off in recent years, new single-family home size continued along a general trend of decreasing size during the start of 2017. This change marks a reversal of the trend that had been in place as builders focused on the higher end of the market during the recovery. As the entry-level market expands, including growth for townhouses, typical... Read More ›
    Click Here to Read the Full Article

    Source: eyeonhousing.org
  • Tue, May 16 2017
  • 2:18 PM » What Slowing New Home Construction Means for the Housing Market
    Published Tue, May 16 2017 2:18 PM by www.realtor.com
    In a not-so-good sign for the housing market, permits to build new new homes, the amount of construction started and the number of homes completed dipped in April. The post What Slowing New Home Construction Means for the Housing Market appeared first on Real Estate News & Advice | realtor.com® .
    Click Here to Read the Full Article

    Source: www.realtor.com
  • 2:18 PM » Home builders are targeting millennials — but it will hit their margins
    Published Tue, May 16 2017 2:18 PM by CNBC
    The largest generation is finally starting to buy houses. The trouble is, there aren't enough houses for sale to feed their appetite.
  • 2:17 PM » New Way to Short Home Loans May Give a Boost to Mortgage-Bond Market
    Published Tue, May 16 2017 2:17 PM by Bloomberg
    Bloomberg New Way to Short Home Loans May Give a Boost to Mortgage-Bond Market Bloomberg A new product that would allow investors to short U.S. home loans may kickstart the growth of an infant mortgage-bond market if some money managers have their way. Derivatives on a pricing index that tracks mortgage risk sold by Fannie Mae and Freddie ... and more »
  • 2:17 PM » Expanded Freddie Mac AIMI(SM) Shows Seasonal Slowdown; Continued Strength of Multifamily Market
    Published Tue, May 16 2017 2:17 PM by www.freddiemac.mwnewsroom.com
    Expanded Freddie Mac AIMI(SM) Shows Seasonal Slowdown; Continued Strength of Multifamily Market
    Click Here to Read the Full Article

    Source: www.freddiemac.mwnewsroom.com
  • 11:22 AM » Democrats in U.S. Senate try to slow Republican deregulation
    Published Tue, May 16 2017 11:22 AM by Reuters
    WASHINGTON (Reuters) - Democrats are striking back at the regulation-cutting blitz in the U.S. Congress and White House, as Republicans ratchet up attacks on rules they say hurt business and give bureaucrats too much power.
  • 11:22 AM » Are you confused by Russia and Trump? Here's everything that happened over the last week
    Published Tue, May 16 2017 11:22 AM by CNBC
    A chaotic seven days in the White House started with the abrupt firing of then-FBI Director James Comey.
  • 11:22 AM » The salary you need to afford a home in 20 major US cities
    Published Tue, May 16 2017 11:22 AM by CNBC
    In San Francisco, you need to make $215,089.
  • 11:21 AM » MBA: Mortgage Delinquencies Decreased in Q1, Foreclosures Decreased
    Published Tue, May 16 2017 11:21 AM by Calculated Risk Blog
    From the MBA: Delinquencies Decline in Latest MBA Mortgage Delinquency Survey The delinquency rate for mortgage loans on one- to four-unit residential properties decreased to a seasonally adjusted rate of 4.71 percent of all loans outstanding at the end of the first quarter of 2017.  The delinquency rate was down nine basis points from the previous quarter, and was six basis points lower than one year ago, according to the Mortgage Bankers Association's (MBA) National Delinquency Survey. The percentage of loans on which foreclosure actions were started during the first quarter was 0.30 percent, an increase of two basis points from the previous quarter, but five basis points lower than one year ago. The delinquency rate includes loans that are at least one payment past due but does not include loans in the process of foreclosure.  The percentage of loans in the foreclosure process at the end of the first quarter was 1.39 percent , down 14 basis points from the fourth quarter and 35 basis points lower than one year ago. The serious delinquency rate, the percentage of loans that are 90 days or more past due or in the process of foreclosure, was 2.76 percent , a decrease of 37 basis points from last quarter, and a decrease of 53 basis points from last year. Marina Walsh, MBA's Vice President of Industry Analysis, offered the following commentary on the survey: "Mortgage delinquencies decreased overall in the first quarter of 2017, driven by a drop in both the FHA and VA delinquency rates from the previous quarter as the conventional delinquency rate held constant.  Employment growth started 2017 on strong footing, with the economy adding 216,000 jobs in January 2017 and 232,000 jobs in February. Average hourly wage growth increased 2.8 percent over the year, and has maintained a generally increasing trend since late 2015. These fundamentals have helped to support the performance of all loan types - whether FHA, VA or conventional loans...
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 9:45 AM » US industrial production rose 1.0% in April vs. 0.4% increase expected
    Published Tue, May 16 2017 9:45 AM by CNBC
    U.S. industrial production was forecast to rise 0.3 percent in April, following a 0.5 percent increase a month earlier.
  • 9:44 AM » S&P, Nasdaq open at record intraday highs
    Published Tue, May 16 2017 9:44 AM by Reuters
    (Reuters) - The S&P 500 and the Nasdaq opened at record intraday highs on Tuesday, helped by gains in technology and consumer staples stocks.
  • 8:38 AM » More and More Renters Choosing Suburbs Instead of Cities, Survey Finds
    Published Tue, May 16 2017 8:38 AM by www.builderonline.com
    Over a five-year period, the suburbs in 20 major U.S. metros increased by 100,000 more renters than their nearby urban cores.
    Click Here to Read the Full Article

    Source: www.builderonline.com
  • 8:37 AM » US housing starts fell 2.6% in April
    Published Tue, May 16 2017 8:37 AM by CNBC
    Construction of new homes fell for a second straight month in April, pushing activity to the lowest point in five months.
  • 8:37 AM » Americans' Confidence in Economy at Post-Election Low
    Published Tue, May 16 2017 8:37 AM by www.gallup.com
    Gallup's U.S. Economic Confidence Index averaged +2 last week, its lowest score this year. The index is down from a nine-year high of +16 in early March.
    Click Here to Read the Full Article

    Source: www.gallup.com
  • Mon, May 15 2017
  • 5:07 PM » Think Home Prices Are High Now? Why They're Likely to Keep Going Up
    Published Mon, May 15 2017 5:07 PM by www.realtor.com
    Single-family home prices shattered predictions as they rose faster-and higher-than forecasted in the first quarter of the year. The post Think Home Prices Are High Now? Why They’re Likely to Keep Going Up appeared first on Real Estate News & Advice | realtor.com® .
    Click Here to Read the Full Article

    Source: www.realtor.com
  • 5:06 PM » China, Japan Increase Holdings of U.S. Government Treasuries
    Published Mon, May 15 2017 5:06 PM by Bloomberg
    Bloomberg China, Japan Increase Holdings of U.S. Government Treasuries Bloomberg Japan and China increased their holdings of U.S. Treasuries as overall net foreign purchases in March reached the strongest in a year. China increased its ownership of U.S. government bonds, notes and bills by $27.9 billion to $1.09 trillion in March, ... and more »
  • 4:55 PM » New York DFS announces expanded use of NMLS
    Published Mon, May 15 2017 4:55 PM by www.consumerfinancemonitor.com
    The New York Department of Financial Services (DFS) announced last week that it is migrating the administration of its non-mortgage related licenses to the Nationwide Multistate Licensing System (NMLS), joining more than 60 other state financial services regulatory agencies that already administer their non-mortgage licenses via the NMLS. Effective July 1, new applicants for a... Continue Reading
    Click Here to Read the Full Article

    Source: www.consumerfinancemonitor.com
  • 2:52 PM » Philadelphia sues Wells Fargo, alleges predatory lending
    Published Mon, May 15 2017 2:52 PM by Reuters
    (Reuters) - The City of Philadelphia sued Wells Fargo & Co on Monday, accusing the largest U.S. mortgage lender of predatory lending, which violates the federal Fair Housing Act.
  • 1:23 PM » Early Q2 GDP Forecasts
    Published Mon, May 15 2017 1:23 PM by Calculated Risk Blog
    From the Altanta Fed: GDPNow The GDPNow model forecast for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2017 is 3.6 percent on May 12, unchanged from May 9. The forecast for second-quarter real consumer spending inched up from 2.7 percent to 2.8 percent after [last week's] retail sales release from the U.S. Census Bureau and [last week's] Consumer Price Index report from the U.S. Bureau of Labor Statistics. emphasis added From the NY Fed Nowcasting Report The FRBNY Staff Nowcast stands at 1.9% for 2017:Q2 .
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 9:06 AM » NY Fed: Manufacturing Activity "leveled off" in May
    Published Mon, May 15 2017 9:06 AM by Calculated Risk Blog
    From the NY Fed: Empire State Manufacturing Survey Business activity leveled off in New York State, according to firms responding to the May 2017 Empire State Manufacturing Survey. The headline general business conditions index fell six points to -1.0 . The new orders index dropped to -4.4, suggesting a small decline in orders, and the shipments index edged down to 10.6, indicating that shipments increased at a slightly slower pace than in April. ... ... Employment indexes remained positive, pointing to continued improvement in labor market conditions. The index for number of employees edged down to 11.9 , and the average workweek index was little changed at 7.5. ... Indexes assessing the six-month outlook suggested that firms remained optimistic about future conditions. The index for future business conditions held steady at 39.3, and indexes for future new orders and shipments were somewhat higher. Employment was expected to increase in the months ahead. emphasis added The slight contraction in May (-1.0) was below the consensus forecast of a reading of 7.0.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 8:29 AM » Lawmakers Push FHFA To Prevent Sales of Foreclosed Properties
    Published Mon, May 15 2017 8:29 AM by www.builderonline.com
    Contract for deed firms have come under scrutiny for selling foreclosed properties to low-income families.
    Click Here to Read the Full Article

    Source: www.builderonline.com
  • 8:28 AM » The Shame of the Mortgage-Interest Deduction
    Published Mon, May 15 2017 8:28 AM by The Atlantic
    It might be one of the most important policies in the U.S. economy, but the mortgage-interest deduction sounds esoteric to most people. Perhaps that's because, for most people, it's completely irrelevant. Although about two-thirds of American households own a home, only one-quarter of them claim the deduction, which sometimes gets abbreviated to MID. As Matthew Desmond, a sociologist at Harvard University, explains in a magisterial essay on the MID in the New York Times Magazine , this little fact has played an outsized role in the United States' yawning wealth inequality. Federal housing policy transfers lots of money to rich homeowners, a bit less to middle-class homeowners, and practically nothing to poor renters. Half of all poor American families who rent spend more than 50 percent of their income on housing costs. In May, rental income as a share of GDP hit an all-time high . Meanwhile, in 2015, the federal government spent $71 billion on the MID, and households earning more than $100,000 receive almost 90 percent of the benefits. Since the value of the deduction rises as the cost of one's mortgage increases, the policy essentially pays upper-middle-class and rich households to buy larger and more expensive homes. At the same time, because national housing policy's benefits don't accumulate as much to renters, it makes it harder for poor renters to join the class of homeowners. But the MID isn't just a symbol of housing policy falling prey to plutocracy. It's a broader moral indictment of the tax code. The federal government is quite explicit about using taxes to encourage the formation of wealth. There are tax breaks for investment (like capital gains and dividends), for savings (like Roth IRAs and health-savings accounts), and for homeownership. It's easy to make an argument for each specific policy. Who wants to punish investment? Or raid retirement accounts? Or discourage saving for health care and housing? But this national...
  • Fri, May 12 2017
  • 4:18 PM » Retail is facing a historic moment of truth
    Published Fri, May 12 2017 4:18 PM by CNBC
    Retail has reached a tipping point, and it's looking like an uphill battle from here.
  • 4:15 PM » 5 Tips for Buyers in a Tight Housing Market
    Published Fri, May 12 2017 4:15 PM by Google News
    WASHINGTON (May 12, 2017) – When inventory is low, home prices tend to go up. Attempting to purchase a house in this type of market can make the already complex process of buying a home even more overwhelming. To help buyers successfully get through the buying process in a tight inventory market with as little stress and difficulty as possible, the National Association of Realtors ® has these five suggestions and an infographic: https://www.nar.realtor/infographics/5-tips-for-buying-in-a-... Read More
  • 4:14 PM » How Fed Fights Next Downturn Hangs on Smooth Balance-Sheet Exit
    Published Fri, May 12 2017 4:14 PM by Bloomberg
    Bloomberg How Fed Fights Next Downturn Hangs on Smooth Balance-Sheet Exit Bloomberg Federal Reserve officials intend to start the delicate task of drawing down their $4.5 trillion balance sheet as early as this year. Goal No. 1 will be to get the ball rolling without making a mess of markets in everything from U.S. mortgages to ... and more »
  • 12:49 PM » Consumer advocates made a last-ditch effort with Congress to keep the CFPB intact
    Published Fri, May 12 2017 12:49 PM by Market Watch
    Some Republicans have said the bureau is ineffective
  • 12:45 PM » Fed's Harker says two more rate hikes this year are 'appropriate'
    Published Fri, May 12 2017 12:45 PM by CNBC
    The U.S. economy is now "normal" and its labor market is roughly "at full health," a Federal Reserve policymaker said on Friday.
  • 10:40 AM » Consumer sentiment hits 97.7 in mid-May, riding the 'Trump bump'
    Published Fri, May 12 2017 10:40 AM by CNBC
    Economists expected the University of Michigan's Consumer Sentiment Index to see a preliminary reading of 97 in May, according to Thomson Reuters.
  • 10:39 AM » Here's how much home $300K will buy you in every US state
    Published Fri, May 12 2017 10:39 AM by CNBC
    It won't get you very far in Hawaii or DC.
  • 10:39 AM » These are the best cities for first-time homebuyers
    Published Fri, May 12 2017 10:39 AM by CNBC
    Zillow looked at five metrics to determine which housing markets would serve first-time buyers best. Here's what it found.
  • 10:38 AM » Treasury yields extend reversal from six-week high
    Published Fri, May 12 2017 10:38 AM by Market Watch
    Treasury prices rose, and yields fell, after weak retail sales weighed on U.S. government paper.
  • 8:42 AM » Student Debt Forcing Millennials to Move Back Home
    Published Fri, May 12 2017 8:42 AM by www.builderonline.com
    Almost a third of those between 20-26 say they owe anywhere from $10,000 to more than $50,000 on student loans.
    Click Here to Read the Full Article

    Source: www.builderonline.com
  • 8:42 AM » Desire for New Amenities: Still the Top Reason to Remodel
    Published Fri, May 12 2017 8:42 AM by eyeonhousing.org
    According to remodelers who answered special questions on NAHB's Remodeling Market Index (RMI) survey for the 1st quarter of 2017, a simple "desire for better/newer amenities" once again ranked as the number one reason customers choose to remodel their homes. On a scale of 1 to 5 (where 1 indicates never or almost never, and 5 is very often), the... Read More ›
    Click Here to Read the Full Article

    Source: eyeonhousing.org
  • 8:40 AM » Consumer prices rebounded 0.2% in April
    Published Fri, May 12 2017 8:40 AM by CNBC
    Consumer prices rebounded moderately in April as energy prices climbed back up after a sharp decline in March.
  • 8:39 AM » RBS CEO sees potential to settle major U.S. mortgage probe
    Published Fri, May 12 2017 8:39 AM by Reuters
    LONDON (Reuters) - Royal Bank of Scotland Chief Executive Ross McEwan said the bank is in talks to settle one of the two major U.S. investigations into allegations it mis-sold mortgage-backed securities that it needs to overcome before the British government can sell its shares in the bailed-out bank.
  • 8:39 AM » Wells Fargo eyes return to mortgage deals shunned since crisis
    Published Fri, May 12 2017 8:39 AM by Reuters
    (Reuters) - Wells Fargo & Co , the largest U.S. mortgage lender, is hoping this year to sell bonds backed by mortgages without government guarantees for the first time since the 2008 financial crisis, the head of the bank's consumer lending division said on Thursday.
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Recent Housing Data:
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