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  • Thu, Jan 12 2017
  • 9:42 AM » How Inflation Will Affect Home Builders in 2017
    Published Thu, Jan 12 2017 9:42 AM by www.builderonline.com
    NAHB chief economist takes a look at the comparison of inflation and mortgage rates to see how the coming year will be shaped.
    Click Here to Read the Full Article

    Source: www.builderonline.com
  • 8:54 AM » The Fed: Fed's Harker backs three interest-rate hikes this year
    Published Thu, Jan 12 2017 8:54 AM by Market Watch
    The economy has started 2017 on a good foot and three rate hikes are likely to be appropriate, said Philadelphia Fed President Patrick Harker on Thursday.
  • 8:54 AM » US import prices rise on petroleum
    Published Thu, Jan 12 2017 8:54 AM by CNBC
    U.S. import prices rose in December, boosted by higher prices for petroleum products, but a strong dollar kept underlying imported inflation in subdued.
  • 8:54 AM » Fed's Bullard says Trump economic policies will have little impact this year
    Published Thu, Jan 12 2017 8:54 AM by Market Watch
    President-elect Donald Trump's fiscal policy plans are more a story for 2018-2019 than this year, said St. Louis Fed President James Bullard on Thursday. In an interview on CNBC, Bullard said growth in 2017 is pretty much "baked in the cake." He said he thinks the economy remains in a low interest-rate and slow growth environment that is not going to change by "snapping fingers." Bullard said he still thinks economic conditions will justify only one interest rate this year and the Fed has time to wait and see what develops. The St. Louis Fed president said he does not believe that a low unemployment rate will necessarily boost inflation. He noted that the market still expects low inflation going forward. The recent pullback in the 10-year Treasury bond yields is the market settling down and waiting to see if Republicans can deliver on their promise of faster economic growth.
  • 8:51 AM » U.S. property foreclosures at 10-year low in 2016
    Published Thu, Jan 12 2017 8:51 AM by Reuters
    (Reuters) - Foreclosure proceedings affected nearly a million U.S. homes and other real estate last year, down 14 percent from 2015 and down 70 percent from the worst of the housing crisis in 2009, a report released Thursday shows.
  • Wed, Jan 11 2017
  • 2:43 PM » Phoenix Real Estate in December: Sales up 6%, Inventory down 3%
    Published Wed, Jan 11 2017 2:43 PM by Calculated Risk Blog
    This is a key housing market to follow since Phoenix saw a large bubble and bust, followed by strong investor buying. The Arizona Regional Multiple Listing Service (ARMLS) reports (table below): 1) Overall sales in December were up 5.9% year-over-year. 2) Cash Sales (frequently investors) were down to 23.1% of total sales. 3) Active inventory is now down 2.9% year-over-year.   More inventory (a theme in most of 2014) - and less investor buying - suggested price increases would slow sharply in 2014.  And prices increases did slow in 2014, only increasing 2.4% according to Case-Shiller. In 2015, with falling inventory, prices increased a little faster -  Prices were up 6.3% in 2015 according to Case-Shiller. This is the second consecutive month with a YoY decrease in inventory following eight months with YoY increases.  This might be a change in trend - something to watch. December Residential Sales and Inventory, Greater Phoenix Area, ARMLS   Sales YoY Change Sales Cash Sales Percent Cash Active Inventory YoY Change Inventory Dec-08 5,524 --- 1,665 30.1% 53,792 1 --- Dec-09 7,661 38.7% 3,008 39.3% 39,709 -26.2% 1 Dec-10 8,401 9.7% 3,939 46.9% 42,463 6.9% Dec-11 7,843 -6.6% 3,635 46.3% 24,712 -41.8% Dec-12 7,071 -9.8% 3,211 45.4% 21,095 -14.6% Dec-13 5,930 -16.1% 2,053 34.6% 25,511 20.9% Dec-14 6,475 9.2% 1,893 29.2% 25,052 -1.8% Dec-15 6,756 4.3% 1,617 23.9% 23,053 -8.0% Dec-16 7,154 5.9% 1,655 23.1% 22,388 -2.9% 1 December 2008 probably includes pending listings
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 2:06 PM » Industry Supports Expanded Private Flood Insurance Rule
    Published Wed, Jan 11 2017 2:06 PM by NMHC
    NMHC/NAA responded in early January, 2017, to a call for comments by several banking regulators on a proposed rule entitled "Loans in Areas Having Special Flood Hazards-Private Flood Insurance." The rule stems from the Biggert Waters Act of 2012, which aside from reauthorizing the National Flood Insurance Program (NFIP), called upon regulators such as the Federal Reserve and the Office of the Comptroller of the Currency to issue much-needed guidance for lenders on what should be considered an acceptable private flood insurance policy.
  • 12:34 PM » Markets wait for stimulus talk from Trump, but don't get it
    Published Wed, Jan 11 2017 12:34 PM by CNBC
    Trump did not discuss infrastructure spending or tax cuts that the markets had been hoping to get more details on.
  • 11:42 AM » The Gundlach vs. Gross 10-Year Bond Yield Debate - Bloomberg Video
    Published Wed, Jan 11 2017 11:42 AM by Bloomberg
    Bloomberg The Gundlach vs. Gross 10-Year Bond Yield Debate Bloomberg Paul Richards, president at Medley Global Advisors, talks about the dispute over the 10-Year bond yield between DoubleLine Capital Chief Executive Officer Jeffrey Gundlach and Janus Capital Fund Manager Bill Gross. He speaks on "Bloomberg Daybreak: ...
  • 11:41 AM » Freddie Mac Leads Nation as Top Multifamily Lender for Second Year in a Row
    Published Wed, Jan 11 2017 11:41 AM by freddiemac.mwnewsroom.com
    Freddie Mac Leads Nation as Top Multifamily Lender for Second Year in a Row
    Click Here to Read the Full Article

    Source: freddiemac.mwnewsroom.com
  • 10:10 AM » Three things to watch as the big US banks turn in their quarterly results
    Published Wed, Jan 11 2017 10:10 AM by CNBC
    Watch trade revenues, interest rates and credit risks as banks announce quarterly results.
  • 10:06 AM » Trump will soon be begging the Fed for QE4: Marc Faber
    Published Wed, Jan 11 2017 10:06 AM by CNBC
    President-elect Trump's policies will help the U.S. economy, but they won't be enough to save stocks long term, Faber said.
  • 10:06 AM » Fed on Edge as Trump Growth Bump Boosts Risks of Rate-Hike Error
    Published Wed, Jan 11 2017 10:06 AM by Bloomberg
    Bloomberg Fed on Edge as Trump Growth Bump Boosts Risks of Rate-Hike Error Bloomberg To err is human. To err when you're the Federal Reserve means national wealth gets destroyed and millions of people lose their jobs. That's why U.S. central bankers have taken a patient approach to raising interest rates --just two hikes in the past 13 ... and more »
  • 9:53 AM » Suddenly, Home Sale Agreements Are Falling Apart Across the U.S.
    Published Wed, Jan 11 2017 9:53 AM by Bloomberg
    Bloomberg Suddenly, Home Sale Agreements Are Falling Apart Across the U.S. Bloomberg Spending months to find the perfect home in your price range, only to have your mortgage application rejected, or a home inspection turn up expensive repairs, is a nightmare-one that is coming true with increasing frequency, according to a new report ... and more »
  • 9:53 AM » Builders Satisfy Demand for Open Floor Plans
    Published Wed, Jan 11 2017 9:53 AM by eyeonhousing.org
    According to a recent NAHB article, open floor plans are popular among home buyers, and the design of new single-family homes tends to be, if anything, even more open. For example, in a 2015 NAHB survey, 70 percent of recent and prospective homebuyers said they preferred a home with either a completely or partially open kitchen-family room arrangement with 32 percent preferring... Read More ›
    Click Here to Read the Full Article

    Source: eyeonhousing.org
  • 9:43 AM » Thoma: "Here's what really caused the housing crisis"
    Published Wed, Jan 11 2017 9:43 AM by Calculated Risk Blog
    An excellent overview from Professor Mark Thoma: Here's what really caused the housing crisis . Excerpt: As the author of the research , Antoinette Schoar, explained in an interview: "A lot of the narrative of the financial crisis has been that this [loan] origination process was broken, and therefore a lot of marginal and unsustainable borrowers got access to funding. In our opinion, the facts don't line up with this narrative. Calling this crisis a subprime crisis is a misnomer. In fact, it was a prime crisis." When analysts were calling it a "subprime crisis", my former co-blogger Tanta wrote "We are all subprime now!"  Subprime was just the first area of stress - this was a widespread crisis. From Thoma: As noted in a study by McClatchy from 2008, "Federal Reserve Board data show that more than 84 percent of the subprime mortgages in 2006 were issued by private lending institutions;" "private firms made nearly 83 percent of the subprime loans to low- and moderate-income borrowers that year;" and "only one of the top 25 subprime lenders in 2006 was directly subject to the housing law that's being lambasted by conservative critics." Those who blame the CRA or Fannie and Freddie don't understand what happened. There were many causes to the crisis, but I believe the three keys were: 1) the change in lending practices and standards for private sector lending. As an example, the lenders used to use the three Cs: Credit, Capacity, and Collateral. At Tanta explained: Does the borrower's history establish creditworthiness, or the willingness to repay debt? Does the borrower's current income and expense situation (and likely future prospects) establish the capacity or ability to repay the debt? Does the house itself, the collateral for the loan, have sufficient value and marketability to protect the lender in the event that the debt is not repaid? Instead of using the three Cs, the...
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • Tue, Jan 10 2017
  • 3:49 PM » Can the Flaws in Credit Scoring Be Fixed?
    Published Tue, Jan 10 2017 3:49 PM by The Atlantic
    That credit scoring and reporting is an opaque and flawed system isn't a new revelation. But recent news that two of the three major credit-reporting agencies were allegedly providing customers with different scores than they advertised and signing them onto subscription-based services without proper disclosures has hit a nerve with consumers. People aren't just upset about being misled, but because the news served as a reminder of how vulnerable Americans are to the policies of powerful, private credit-reporting agencies. A credit score is the most ubiquitous indicator of financial responsibility. Americans rely on credit-reporting agencies to provide a fair portrait of financial health not just for their own reference, but for reporting that can be used by banks and potential employers too. The current system leaves millions with low scores that hinder their financial access despite healthy records of paying day-to-day bills responsibly. And tens of millions Americans have no score at all because of limited credit history. That means they're essentially stuck."If you think about the credit-invisible population in this country, their ability to enter the financial mainstream and access affordable credit instead of payday lenders and pawnshops and check-cashing services is tied to what's in their credit report," says Michael Turner, the president of the Policy and Economic Research Council. "They're caught in the credit catch-22: In order to qualify for credit you have to have already had credit." Right now, the three major credit reporting agencies-Experian (which which settled a lawsuit with Federal Trade Commission in 2005 over misleading marketing), Equifax, and Transunion (the latter two both were recently fined by the CFPB for misleading consumers)-all receive data from credit-card companies, banks, and other large lenders about whether or not borrowers pay on time. For the millions of Americans without credit cards or loans...
  • 3:48 PM » 'Fake news' alert on the 'Great Rotation' from bonds to stocks
    Published Tue, Jan 10 2017 3:48 PM by CNBC
    Investors would be wise to tread cautiously when hearing calls that this finally will be the year when the "Great Rotation" happens.
  • 12:42 PM » Fed will pay $92 billion in profits to U.S. Treasury for 2016
    Published Tue, Jan 10 2017 12:42 PM by Reuters
    WASHINGTON (Reuters) - The Federal Reserve on Tuesday said it would turn over $92.0 billion in profits to the U.S. Treasury in 2016, down from the $97.7 billion the central bank's 12 regional banks paid back to the U.S. government in the previous year.
  • 12:42 PM » Richmond Fed President Lacker to retire in October
    Published Tue, Jan 10 2017 12:42 PM by CNBC
    Lacker joined the Richmond Fed in 1989 and served in various leadership positions prior to this appointment in August 2004.
  • 10:57 AM » Job openings in November at 5.5 million, hires and separations little changed
    Published Tue, Jan 10 2017 10:57 AM by CNBC
    Economist had expected monthly job openings to be 5.56 million, according to Thomson Reuters.
  • 10:16 AM » Home Value Perception Reverses Course, Gap Between Appraisals and Owner Estimates Widens
    Published Tue, Jan 10 2017 10:16 AM by PR Newswire
    DETROIT, Jan. 10, 2017 /PRNewswire/ -- The gap between homeowner estimates and appraiser opinions widened for the first time in six months. Quicken Loans' National Home Price Perception Index (HPPI) showed the average appraisal value fell 1.33 percent below owner expectations in December....
  • 10:16 AM » Wholesale inventories post biggest rise in 2 years
    Published Tue, Jan 10 2017 10:16 AM by CNBC
    The Commerce Department said on Tuesday wholesale inventories rose 1.0 percent after slipping 0.1 percent in October. That was the largest increase since November 2014.
  • 8:58 AM » Bill Gross names the key market number that investors have to watch this year
    Published Tue, Jan 10 2017 8:58 AM by CNBC
    Investors need to watch only one number to figure out what returns are going to look like, Gross said Tuesday.
  • 8:57 AM » Americans' Views of Economy Remain Relatively Upbeat
    Published Tue, Jan 10 2017 8:57 AM by www.gallup.com
    Gallup's U.S. Economic Confidence Index remained slightly positive last week, as it has throughout the presidential transition period.
    Click Here to Read the Full Article

    Source: www.gallup.com
  • 8:54 AM » Forget 30 Years of Stock and Bond Divergence, Bernstein Says
    Published Tue, Jan 10 2017 8:54 AM by Bloomberg
    Bloomberg Forget 30 Years of Stock and Bond Divergence, Bernstein Says Bloomberg Three decades of divergence between stocks and bonds may be about to end, according to Sanford C. Bernstein & Co., necessitating a total shift in investor assumptions. The new era, marked by rising or more volatile inflation, will see equities and ... and more »
  • 8:51 AM » Former Newspaper Publisher Charged in $10M Mortgage Fraud Conspiracy
    Published Tue, Jan 10 2017 8:51 AM by www.builderonline.com
    The alleged scheme involved a condominium complex in Fort Lauderdale.
    Click Here to Read the Full Article

    Source: www.builderonline.com
  • Mon, Jan 9 2017
  • 4:18 PM » Quicken Loans Founder Accuses DOJ of Shakedown in Mortgage Fight
    Published Mon, Jan 09 2017 4:18 PM by Bloomberg
    Bloomberg Quicken Loans Founder Accuses DOJ of Shakedown in Mortgage Fight Bloomberg Quicken Loans Inc. founder Dan Gilbert, whose company has refused to settle a lawsuit with the Department of Justice, said he's looking forward to new leadership under President-elect Donald Trump. The Justice Department sued Quicken in 2015 following ... and more »
  • 2:35 PM » Goldman's Hatzius: 35% chance of Fed hike in March and markets aren't braced for it
    Published Mon, Jan 09 2017 2:35 PM by Market Watch
    The Federal Reserve could raise interest rates as much as four times this year, going beyond what is currently expected by most investors, Goldman Sachs's chief economist Jan Hatzius says.
  • 2:35 PM » With recovery 'largely done,' Lockhart says Fed should step aside
    Published Mon, Jan 09 2017 2:35 PM by CNBC
    Recovery from the economic crisis is "largely done," and officials should now turn to addressing longer-term issues like how to boost productivity, Atlanta Federal Reserve bank president Dennis Lockhart said.
  • 2:32 PM » Investment-Grade Bonds Blast Into 2017 Despite Long-Term Fears
    Published Mon, Jan 09 2017 2:32 PM by Bloomberg
    Investment-Grade Bonds Blast Into 2017 Despite Long-Term Fears Bloomberg The market for U.S. investment grade debt is charging into the New Year after a sluggish end to 2016, but the trend could prove to be short-lived. Issuance of U.S. investment-grade corporate debt reached nearly $60 billion last week alone, rebounding ... and more »
  • 2:31 PM » Freddie Mac Transfers Risk on $215 Billion of Single-Family Mortgages in 2016
    Published Mon, Jan 09 2017 2:31 PM by freddiemac.mwnewsroom.com
    Freddie Mac Transfers Risk on $215 Billion of Single-Family Mortgages in 2016
    Click Here to Read the Full Article

    Source: freddiemac.mwnewsroom.com
  • 12:45 PM » U.S. 10-Year Yield Needs to Top 2.80% for Escape Velocity: Chart
    Published Mon, Jan 09 2017 12:45 PM by Bloomberg
    Bloomberg U.S. 10-Year Yield Needs to Top 2.80% for Escape Velocity: Chart Bloomberg The yield on U.S. 10-year Treasury notes has risen substantially since Donald Trump won the U.S. presidential race, yet it could turn out to be nothing more than a temporary rebound from a technical point of view. The yield has been trading in a ... and more »
  • 12:44 PM » FHA Mortgage Insurance Premium Reduction a Fresh Start, Says NAR President Brown
    Published Mon, Jan 09 2017 12:44 PM by Google News
    WASHINGTON (January 9, 2016) – Lower costs are coming for homebuyers seeking a Federal Housing Administration -insured mortgage. FHA announced today that they are cutting annual premiums for mortgage insurance from 0.85 percent to 0.60 percent, a move the National Association of Realtors® said breathes new life into the program. “FHA mortgage products exist to serve an important mission: providing homeownership opportunities to creditworthy borrowers who are overlooked by conventional lenders,” said NAR President William E. Brown, a Realtor® from... Read More
  • 10:49 AM » Fed's Rosengren sees ‘somewhat more regular' interest-rate hikes
    Published Mon, Jan 09 2017 10:49 AM by Market Watch
    Economic conditions have evolved and are likely to warrant 'somewhat more regular' increases in short-term interest rates, said Boston Fed President Eric Rosengren on Monday. Rosengren had been a big support of the Fed's ultralow monetary policy during the crisis.
  • 10:48 AM » Time for a Breather in Bond, Oil and Yen Trades, Deutsche Says
    Published Mon, Jan 09 2017 10:48 AM by Bloomberg
    Bloomberg Time for a Breather in Bond, Oil and Yen Trades, Deutsche Says Bloomberg On fundamentals, the recent momentum across a number of asset classes may have further to go. But with positioning at extreme levels, it might be time for a breather in the near-term, Deutsche Bank AG says. Shorts in bond futures more than doubled ... and more »
  • 10:15 AM » FHA's Press Release on MIP Reduction
    Published Mon, Jan 09 2017 10:15 AM by HUD
    WASHINGTON - As the nation's housing market continues to improve, U.S. Housing and Urban Development Secretary Julián Castro today announced the Federal Housing Administration (FHA) will reduce the annual premiums most borrowers will pay by a quarter of a percent. FHA's new premium rates are projected to save new FHA-insured homeowners an average of $500 this year. FHA is reducing its annual mortgage insurance premium (MIP) by 25 basis points for most new mortgages with a closing/disbursement date on or after January 27, 2017. For a full schedule of the new premium rates announced today, read FHA's mortgagee letter.
  • 9:47 AM » Housing Sentiment Dampened by Rising Rates, Despite ...
    Published Mon, Jan 09 2017 9:47 AM by Fannie Mae
    News Release. Share This: January 09, 2017. Housing Sentiment Dampened by Rising Rates, Despite Improved Economic ...
  • 9:46 AM » Single-Family Rentals Grow With Whole Communities
    Published Mon, Jan 09 2017 9:46 AM by www.builderonline.com
    Property developers are pouncing on sustained demand for stand-alone home rentals by taking a big step: Building entire single-family neighborhoods designed for renters.
    Click Here to Read the Full Article

    Source: www.builderonline.com
  • 9:45 AM » Black Knight's November Mortgage Monitor: 2.2 Million Homeowners in Negative Equity, Fewest Since Early 2007
    Published Mon, Jan 09 2017 9:45 AM by www.bkfs.com
    Black Knight's November Mortgage Monitor: 2.2 Million Homeowners in Negative Equity, Fewest Since Early 2007<br/>http://www.bkfs.com/CorporateInformation/NewsRoom/Pages/20170109.aspx
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