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  • Fri, Sep 15 2017
  • 10:07 AM » Consumer sentiment hits 95.3 in September vs. 95.1 estimate
    Published Fri, Sep 15 2017 10:07 AM by CNBC
    The consumer sentiment index, a survey of consumers by The University of Michigan, was expected decline to 95.1 in September.
  • 10:07 AM » Business inventories rise modestly as retail stocks fall
    Published Fri, Sep 15 2017 10:07 AM by CNBC
    U.S. business inventories were expected to continue to grow in July.
  • 9:29 AM » Industrial Production Decreased 0.9% in August
    Published Fri, Sep 15 2017 9:29 AM by Calculated Risk Blog
    From the Fed: Industrial production and Capacity Utilization Industrial production declined 0.9 percent in August following six consecutive monthly gains. Hurricane Harvey , which hit the Gulf Coast of Texas in late August, is estimated to have reduced the rate of change in total output by roughly 3/4 percentage point . The index for manufacturing decreased 0.3 percent; storm-related effects appear to have reduced the rate of change in factory output in August about 3/4 percentage point. The manufacturing industries with the largest estimated storm-related effects were petroleum refining, organic chemicals, and plastics materials and resins. The output of mining fell 0.8 percent in August, as Hurricane Harvey temporarily curtailed drilling, servicing, and extraction activity for oil and natural gas. The output of utilities dropped 5.5 percent, as unseasonably mild temperatures, particularly on the East Coast, reduced the demand for air conditioning. At 104.7 percent of its 2012 average, total industrial production in August was 1.5 percent above its year-earlier level. Capacity utilization for the industrial sector decreased 0.8 percentage point in August to 76.1 percent, a rate that is 3.8 percentage points below its long-run (1972-2016) average. emphasis added Click on graph for larger image. This graph shows Capacity Utilization. This series is up 9.4 percentage points from the record low set in June 2009 (the series starts in 1967). Capacity utilization at 76.1% is 3.8% below the average from 1972 to 2015 and below the pre-recession level of 80.8% in December 2007. Note: y-axis doesn't start at zero to better show the change. The second graph shows industrial production since 1967. Industrial production decreased in August to 104.7. This is 20.2% above the recession low, and close to the pre-recession peak. The decrease was below expectations...
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 8:52 AM » How New Home Buyers Financed Their Homes in 2016
    Published Fri, Sep 15 2017 8:52 AM by eyeonhousing.org
    NAHB analysis of the 2016 Census Bureau Survey of Construction (SOC) data shows that reliance on non-conventional forms of financing varied across the United States, with its share exceeding 37% in the South Atlantic division but accounting for less than 20% of new single-family home starts in the East South Central and East North Central divisions. Nationwide, the share of... Read More ›
    Click Here to Read the Full Article

    Source: eyeonhousing.org
  • 8:52 AM » US retail sales unexpectedly fall in August
    Published Fri, Sep 15 2017 8:52 AM by CNBC
    U.S. retail sales unexpectedly fell in August as Hurricane Harvey likely depressed motor vehicle purchases, suggesting a moderation in consumer spending in the third quarter.
  • Thu, Sep 14 2017
  • 4:33 PM » Trump 'respects' Yellen but is still deciding her fate
    Published Thu, Sep 14 2017 4:33 PM by CNBC
    Will Trump reappoint Yellen or won't he? It's a long-running parlor game.
  • 3:29 PM » Fed to take historic leap into the unknown
    Published Thu, Sep 14 2017 3:29 PM by Market Watch
    The Federal Reserve is widely expected next week to announce it will begin to sell assets from its balance sheet, and where it will end up is uncertain.
  • 2:35 PM » Goldman raises odds of another Fed rate hike this year
    Published Thu, Sep 14 2017 2:35 PM by CNBC
    Goldman Sachs economists say odds for another rate hike this year rose to 60 percent, after a significant firming in core inflation.
  • 2:32 PM » Freddie Mac Prices $110 Million Multifamily K-Deal, K-J16
    Published Thu, Sep 14 2017 2:32 PM by freddiemac.mwnewsroom.com
    Freddie Mac Prices $110 Million Multifamily K-Deal, K-J16
    Click Here to Read the Full Article

    Source: freddiemac.mwnewsroom.com
  • 2:32 PM » Flippers Flounder but Fail to Flop
    Published Thu, Sep 14 2017 2:32 PM by www.builderonline.com
    In 2nd-QTR, home flipping rate plateaus as average flipping returns decline for third consecutive quarter.
    Click Here to Read the Full Article

    Source: www.builderonline.com
  • 2:31 PM » Fear of Whole Foods Disruption Seen as a Real Estate Opportunity
    Published Thu, Sep 14 2017 2:31 PM by Bloomberg
    Bloomberg Fear of Whole Foods Disruption Seen as a Real Estate Opportunity Bloomberg Patient real estate investors stand to gain from the fears of disruption such as the one that rattled the grocery industry after Amazon.com Inc.'s takeover of Whole Foods, according to MetLife Inc. The narrative about the death of brick-and-mortar ... and more »
  • 1:08 PM » U.S. House passes $1.2 trillion measure to fund government
    Published Thu, Sep 14 2017 1:08 PM by Reuters
    WASHINGTON (Reuters) - The U.S. House of Representatives on Thursday passed a $1.2 trillion bill to fund most government activities in the fiscal year beginning Oct. 1, knowing the Senate will disagree with many controversial elements and force a negotiation that could stretch into December.
  • 1:00 PM » The Fed: Why the bond market isn't freaking out from the Fed's shift to quantitative tightening
    Published Thu, Sep 14 2017 1:00 PM by Market Watch
    The bond market has shrugged off signals the Fed is about to start letting securities roll off its massive $4.5 trillion balance sheet but economists say its too soon to say there will not
  • 12:39 PM » House passes $1.2 trillion bill to fund government
    Published Thu, Sep 14 2017 12:39 PM by Reuters
    WASHINGTON (Reuters) - The U.S. House of Representatives on Thursday passed a $1.2 trillion bill to fund most government activities in the fiscal year beginning Oct. 1, knowing that the Senate will disagree with many controversial elements and force a negotiation that could stretch into December.
  • 12:22 PM » Homeownership a Common Interest, Deserves Protection in Tax Reform Debate
    Published Thu, Sep 14 2017 12:22 PM by Google News
    WASHINGTON (September 14, 2017) – Tax reform done right could yield savings and simplification that benefits average Americans, but history shows that misguided reforms can pose significant threats to the economy. That’s the message the National Association of REALTORS® brought to Congress today as Iona Harrison, chair of NAR’s Federal Taxation Committee, testified before the Senate Finance Committee. At the hearing, titled “Individual Tax Reform,” Harrison told... Read More
  • 11:25 AM » High home prices cause house flippers to pull back
    Published Thu, Sep 14 2017 11:25 AM by CNBC
    After two straight years of gains, the rate of home flipping flattened in the second quarter of this year.
  • 10:57 AM » Chance of December rate hike peeks above 50% for first time since July
    Published Thu, Sep 14 2017 10:57 AM by Market Watch
    Traders on Thursday wagered a December rate hike was more likely than not for the first time since mid-July, ahead of a key Federal Reserve policy meeting next week. The fed fund futures market showed market participants were estimating a 50.9% chance of a quarter basis-point rate increase in December. This comes after a stronger-than-expected inflation reading on Thursday offered one of the more substantial signs that a recent string of weak inflation data was only "transitory," reinforcing the Fed's argument for normalizing interest rates. The Bureau of Labor Statistics reported inflation in August had rose 0.4%, pushing its yearly rate higher to 1.9%.
  • 10:44 AM » Fixed mortgage rates halt their downward march
    Published Thu, Sep 14 2017 10:44 AM by Washington Post
    After falling for the past five weeks, the 30-year fixed-rate average held steady at 3.78 percent.
    Click Here to Read the Full Article

    Source: Washington Post
  • 10:06 AM » Aberdeen Bets Rise in US Bond Yields Not Over on Fed, Profits
    Published Thu, Sep 14 2017 10:06 AM by Bloomberg
    Bloomberg Aberdeen Bets Rise in US Bond Yields Not Over on Fed, Profits Bloomberg Aberdeen Standard Investments is wagering that the rebound in Treasury yields will take another leg higher as an expanding recovery pushes the Federal Reserve to tighten policy further and corporate earnings boom. The money manager has been holding ... and more »
  • 9:47 AM » The Fed: Case for Fed interest-rate hike in December helped by latest inflation data
    Published Thu, Sep 14 2017 9:47 AM by Market Watch
    The case for a Federal Reserve rate hike in December was helped by the firm consumer price print in August.
  • 9:33 AM » U.S. jobless claims fall, but impacted by Harvey and Irma
    Published Thu, Sep 14 2017 9:33 AM by Reuters
    WASHINGTON (Reuters) - The number of Americans filing for unemployment benefits unexpectedly fell last week, but the data was impacted by hurricanes Harvey and Irma, making it difficult to get a clear pulse of the labor market.
  • 8:41 AM » Weekly Initial Unemployment Claims decrease to 284,000
    Published Thu, Sep 14 2017 8:41 AM by Calculated Risk Blog
    The DOL reported : In the week ending September 9, the advance figure for seasonally adjusted initial claims was 284,000 , a decrease of 14,000 from the previous week's unrevised level of 298,000. The 4-week moving average was 263,250, an increase of 13,000 from the previous week's unrevised average of 250,250. This is the highest level for this average since August 13, 2016 when it was 263,250. Hurricanes Harvey and Irma impacted this week's initial claims. emphasis added The previous week was unrevised. The following graph shows the 4-week moving average of weekly claims since 1971. Click on graph for larger image. The dashed line on the graph is the current 4-week average. The four-week average of weekly unemployment claims increased to 263,250. This was below the consensus forecast. The report next week will include the reference period (includes the 12th of the month) for the September employment report - and will provide a hint on the impact of the hurricanes on employment in September.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 8:41 AM » U.S. consumer prices accelerate in August
    Published Thu, Sep 14 2017 8:41 AM by Reuters
    WASHINGTON (Reuters) - U.S. consumer prices accelerated in August amid a jump in the cost of gasoline and rents, signs of firming inflation that could allow further monetary policy tightening from the Federal Reserve this year.
  • 8:30 AM » Home Prices Surged 7.7 Percent in August as Inventory Fell 12.4 Percent
    Published Thu, Sep 14 2017 8:30 AM by www.redfin.com
    Home sales in August fell 5.5 percent compared to last year, the largest decline posted since July 2016. The post Home Prices Surged 7.7 Percent in August as Inventory Fell 12.4 Percent appeared first on Redfin Real-Time .
    Click Here to Read the Full Article

    Source: www.redfin.com
  • 8:28 AM » Bank of England warns it may raise interest rates in 'coming months'
    Published Thu, Sep 14 2017 8:28 AM by CNBC
    Bank of England warns it may raise interest rates in 'coming months'
  • 8:28 AM » HUD Announces Disaster Assistance for Florida Storm Victims
    Published Thu, Sep 14 2017 8:28 AM by HUD
    WASHINGTON - U.S. Housing and Urban Development today announced HUD will speed federal disaster assistance to the State of Florida and provide support to homeowners and low-income renters forced from their homes due to Hurricane Irma.
  • Wed, Sep 13 2017
  • 3:26 PM » A 15 percent corporate tax rate is 'realistic,' says White House budget director
    Published Wed, Sep 13 2017 3:26 PM by CNBC
    The Trump administration is pushing for a 15 percent corporate tax rate, White House's budget director Mick Mulvaney said.
  • 3:25 PM » Agencies Propose Amending CRA Regulations
    Published Wed, Sep 13 2017 3:25 PM by content.govdelivery.com
    Joint Release September 13, 2017 Press Release Board of Governors of the Federal Reserve System Federal Deposit Insurance Corporation Office of the Comptroller of the Currency Agencies to Propose Amending CRA Regulations to Conform to HMDA Regulation Changes, and Remove References to the Neighborhood Stabilization Program WASHINGTON-The federal bank regulatory agencies today issued a joint notice of proposed rulemaking to amend their respective Community Reinvestment Act (CRA) regulations primarily to conform to changes made by the Consumer Financial Protection Bureau (CFPB) to Regulation C, which implements the Home Mortgage Disclosure Act (HMDA). Since 1995, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency have conformed certain definitions in their respective CRA regulations to the scope of loans reported under Regulation C and believe that continuing to do so produces a less-burdensome CRA performance evaluation process. In particular, the agencies are proposing to amend their CRA regulations to revise the definitions of "home mortgage loan" and "consumer loan," as well as the public file content requirements. These revisions would maintain consistency between the CRA regulations and the recent changes to Regulation C, which generally become effective on January 1, 2018. In addition, the draft proposal contains technical revisions and would remove obsolete references to the Neighborhood Stabilization Program. Comments on the proposal will be accepted for 30 days after publication in the Federal Register. The agencies anticipate that the proposed amendments to their CRA regulations will become effective also on January 1, 2018. CRA Regulations Media Contacts: Federal Reserve Board Susan Stawick 202-452-2955 FDIC Greg Hernandez 202-898-6984 OCC William Grassano 202-649-6870 FDIC: PR-70-2017 The FDIC does not send unsolicited e-mail. If this publication...
    Click Here to Read the Full Article

    Source: content.govdelivery.com
  • 2:00 PM » Equifax waives credit lock fees for consumers, amid criticism
    Published Wed, Sep 13 2017 2:00 PM by CNBC
    The company will temporarily waive fees on credit monitoring and identity protection.
  • 2:00 PM » Over 60 Percent of Construction Firms Are Profitable Ventures
    Published Wed, Sep 13 2017 2:00 PM by eyeonhousing.org
    According to recently released data from the Annual Survey of Entrepreneurs (ASE), 61.3 percent of American construction firms are profitable commercial enterprises. The differences between construction and businesses in other industries in this regard are relatively minor. As Exhibit 1 shows, the shares of construction businesses recording positive profits, breaking even, and sustaining losses are all within 1.2 percentage points of the averages across all U.S. industries. The... Read More ›
    Click Here to Read the Full Article

    Source: eyeonhousing.org
  • 1:57 PM » Household Growth Slowed Significantly in 2017, though Not as Much as Raw Numbers Suggest
    Published Wed, Sep 13 2017 1:57 PM by Calculated Risk Blog
    From housing economist Tom Lawler: CPS-Based Household Growth Slowed Significantly in 2017, though Not as Much as Raw Numbers Suggest The Census Bureau yesterday released its " Income and Poverty in the United States " report for 2016, which is based on the results from the 2017 Current Population Survey (CPS) Annual Social and Economic (ASEC). While the report focuses mainly on household and individual incomes and poverty rates, it also shows estimates of the number of US households based on the CPS/ASEC results. According to the report, the CPS/ASEC-based estimates of the number of US households in March 2017 was 126.224 million, just 405,000 above the 125.819 million estimate from the previous year's report. This meager gain, if "accurate," would reflect a sharp slowdown in household growth. As folks who regularly read my report know, however, part of this sharp slowdown in growth reflects the substantial downward revisions in US population estimates that were released at the end of last year. The 2017 CPS/ASEC estimates reflect these downward revisions, but the 2016 estimates do not. To remind folks, late last year Census released its '2016 vintage" population estimates, which incorporated an improved methodology for estimating net international migration that resulted in material downward revisions of the US resident population, as shown in the table below. U.S. Resident Population, Vintage 2015 vs. Vintage 2016 Vintage 2015 Vintage 2016 Change 7/1/2010 309,346,863 309,348,193 1,330 7/1/2011 311,718,857 311,663,358 -55,499 7/1/2012 314,102,623 313,998,379 -104,244 7/1/2013 316,427,395 316,204,908 -222,487 7/1/2014 318,907,401 318,563,456 -343,945 7/1/2015 321,418,820 320,896,618 -522,202 7/1/2016 323,889,854 323,127,513 -762,341 Historical estimates of households from the CPS/ASEC do NOT reflect these downward revisions in population estimates. Indeed, the "time series" of CPS/ASEC household estimates available from various...
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 1:57 PM » Freddie Mac to Suspend All Evictions and Foreclosures in Hurricane Irma Major Disaster Areas
    Published Wed, Sep 13 2017 1:57 PM by freddiemac.mwnewsroom.com
    Freddie Mac to Suspend All Evictions and Foreclosures in Hurricane Irma Major Disaster Areas
    Click Here to Read the Full Article

    Source: freddiemac.mwnewsroom.com
  • 12:23 PM » Market Extra: Why Harvey and Irma won't change the Fed's rate-raising timeline
    Published Wed, Sep 13 2017 12:23 PM by Market Watch
    The recent storms that wrecked massive devastation in both Texas and Florida are widely expected to have major economic impacts on the U.S. economy, in ways both good and bad, but even if they move the needle in terms of economic growth, they're unlikely to change the thinking of the Federal Reserve.
  • 11:54 AM » Harvey's hit to mortgages could be four times worse than predicted—and then there's Irma
    Published Wed, Sep 13 2017 11:54 AM by CNBC
    At least 300,000 borrowers will become delinquent on their loans when banks initiate foreclosure proceedings after Hurricane Harvey.
  • 11:42 AM » Wholesale Prices in U.S. Increase on Jump in Energy Costs
    Published Wed, Sep 13 2017 11:42 AM by Bloomberg
    Rising U.S. wholesale prices in August reflect the biggest jump in energy costs since January, while underlying inflation remained contained, a Labor Department report showed Wednesday in Washington.
  • 10:04 AM » Merrill: The Impact of Harvey on August Retail Sales
    Published Wed, Sep 13 2017 10:04 AM by Calculated Risk Blog
    A few excerpts from a note by Merrill Lynch economists: A net drag from Harvey in August Retail sales ex-autos, as measured by BAC aggregated credit and debit card data, declined 0.1% mom seasonally adjusted in August. After controlling for the increase in gasoline spending, retail sales ex-autos and gasoline declined 0.4%. ... Bottom line: the weakness in retail sales in August is likely exaggerated by the hurricane and July prime-day. While Hurricane Irma may depress spending in September, we typically see retail sales bounce back after a natural disaster, suggesting upside into 4Q. CR Note: We will see weakness in several indicators over the next couple of months due to the hurricanes, and then a bounce back later in the year. Retail sales for August will be released on Friday.  The consensus is for a 0.1% increase in retail sales.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 8:56 AM » Surging gasoline prices lift U.S. producer inflation in August
    Published Wed, Sep 13 2017 8:56 AM by Reuters
    WASHINGTON (Reuters) - U.S. producer prices rebounded in August, driven by a surge in the cost of gasoline, and there were also signs of a pickup in underlying producer inflation.
  • 8:26 AM » Treasurys tread water ahead of inflation report
    Published Wed, Sep 13 2017 8:26 AM by Market Watch
    U.S. Treasurys stabilize, with yields little changed, on Wednesday as traders appear reluctant to make significant moves ahead of report on producer prices due later in the session.
  • 8:26 AM » You Can Afford That Apartment (According to This Chart)
    Published Wed, Sep 13 2017 8:26 AM by Bloomberg
    Bloomberg You Can Afford That Apartment (According to This Chart) Bloomberg For many market-rate renters, incomes appear to be keeping up. But are you one of them? By. Patrick Clark. @pat_clark More stories by Patrick Clark. September 13, 2017, 1:00 AM PDT. Most people paying attention to the cost of renting an apartment in ... and more »
  • 8:24 AM » Who Can Fill Huge Shoes At SoFi As CEO Mike Cagney Steps Down?
    Published Wed, Sep 13 2017 8:24 AM by The Basis Point
    Fintech golden child SoFi is special because Cagney is a quadruple threat with banking, investing, lending, technology expertise. How do you replace him? The post Who Can Fill Huge Shoes At SoFi As CEO Mike Cagney Steps Down? appeared first on The Basis Point .
    Click Here to Read the Full Article

    Source: The Basis Point
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