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  • Mon, Nov 17 2014
  • 3:25 PM » Long-term Unemployment a Sign of Slack, NY Fed Economists Say
    Published Mon, Nov 17 2014 3:25 PM by WSJ
    The long-term unemployed are just as much a part of the U.S. workforce as those jobless for shorter spells, New York Fed researchers write.
  • 2:13 PM » Hedge Funds Bet Against Fed's Rate Plan in Contrarian Bond Trade - Bloomberg
    Published Mon, Nov 17 2014 2:13 PM by Bloomberg
    Hedge Funds Bet Against Fed's Rate Plan in Contrarian Bond Trade Bloomberg It paid off to be a contrarian bond investor heading into 2014. Hedge funds have taken note. So, as mutual-fund managers show confidence in the Federal Reserve's plan to raise benchmark rates next year, hedge funds are taking the opposite position.
  • 1:10 PM » Federal Housing Administration back in the black
    Published Mon, Nov 17 2014 1:10 PM by CNBC
    The FHA, the government insurer of home loans, is now seeing significant gains in its insurance fund and will no longer need emergency cash.
  • 12:11 PM » ECB 'very likely' to buy sovereign bonds: Ex-Member
    Published Mon, Nov 17 2014 12:11 PM by CNBC
    The European Central Bank is likely to start buying government bonds in the first half of next year, a former member of the Bank told CNBC on Monday.
  • 12:11 PM » Deep Recessions Leave Permanent Scars, Fed Research Finds
    Published Mon, Nov 17 2014 12:11 PM by WSJ
    Harsh downturns tend to permanently lower the economy's growth potential, according to new research from the Federal Reserve that upends conventional theory and suggests early and aggressive policy action is advisable when dealing with recessions.
  • 10:38 AM » 6 Home Improvement Fails and Their Solutions
    Published Mon, Nov 17 2014 10:38 AM by blog.redfin.com
    Home improvement, like other industries, holds room for error. Here are some of the most common home improvement fails and how to avoid them. Read More The post 6 Home Improvement Fails and Their Solutions appeared first on Redfin Real Estate Blog .
    Click Here to Read the Full Article

    Source: blog.redfin.com
  • 10:37 AM » Why cash-out refinancing, which is on the rise, has its place
    Published Mon, Nov 17 2014 10:37 AM by Market Watch
    A "House Is Not a Credit Card," an op-ed in The New York Times reminded readers last week, suggesting that refinancing rules are too loose. But cash-out refis have their place, economists say.
  • 10:35 AM » Freddie Mac November U.S. Economic and Housing Market Outlook
    Published Mon, Nov 17 2014 10:35 AM by freddiemac.mwnewsroom.com
    Freddie Mac November U.S. Economic and Housing Market Outlook
    Click Here to Read the Full Article

    Source: freddiemac.mwnewsroom.com
  • 10:35 AM » Bank of America Gets U.S. High Court Review in Mortgage Clash - Bloomberg
    Published Mon, Nov 17 2014 10:35 AM by Bloomberg
    Bank of America Gets U.S. High Court Review in Mortgage Clash Bloomberg The U.S. Supreme Court agreed to hear appeals from a Bank of America Corp. unit that seek to give lenders more leverage over homeowners who file for bankruptcy protection. The dispute affects homeowners whose home values have fallen below the value ... and more »
  • 9:19 AM » Manufacturing growth expands: NY Fed
    Published Mon, Nov 17 2014 9:19 AM by CNBC
    Manufacturing activity in New York state rose in November, bouncing back from October's report, which showed the weakest pace since April.
  • 9:17 AM » Pain Trade Ending for Bonds in Poll Saying This Time Bears Right - Bloomberg
    Published Mon, Nov 17 2014 9:17 AM by Bloomberg
    Pain Trade Ending for Bonds in Poll Saying This Time Bears Right Bloomberg After the legions of market savants missed out on hundreds of billions of dollars in gains this year anticipating a tumble in bonds, you'd think they would have found another target. You'd be wrong. Given the chance to speculate on declines in only one asset ... and more »
  • 9:17 AM » 2015: The Purchase Market Strengthens
    Published Mon, Nov 17 2014 9:17 AM by Freddie Mac
    By Chief Economist Frank E. Nothaft A pickup in household formations and overall housing activity depends greatly on the pace of economic growth. The good news for 2015 is that the U.S. economy appears well poised to sustain about a 3.0 percent growth rate in 2015 – only the second year in the past decade with growth at that pace or better. There are several reasons for the expected better macroeconomic performance. Governmental fiscal drag has turned into fiscal stimulus, lower energy costs support consumer spending and business investment, further easing of credit conditions for business and real estate lending support commerce and development, and more upbeat consumer and business confidence, all of which portend faster economic growth in 2015. And with that, the economy will produce more and better paying jobs, providing the financial wherewithal to support household formations and housing activity. Read More
  • 9:09 AM » The major cities where homeownership is the most — and least — affordable
    Published Mon, Nov 17 2014 9:09 AM by Washington Post
    The hurdles to homeownership are many. On top of saving for the down payment , some people are too busy stressing about other debt to want to take on a mortgage. Others are better off stashing the money away for retirement. Read full article >>
    Click Here to Read the Full Article

    Source: Washington Post
  • 9:08 AM » Why Credit Scores Are So Common
    Published Mon, Nov 17 2014 9:08 AM by www.ourbroker.com
    Credit scores have become more common in the last few years and one reason is that requirements under new federal lending rules. It’s not so much that lenders are required to hand out credit scores, rather the requirements are sufficiently vague that lenders give out the scores without cost to mortgage applicants to avoid any question […] The post Why Credit Scores Are So Common appeared first on OurBroker .
    Click Here to Read the Full Article

    Source: www.ourbroker.com
  • 12:00 AM » Spotlight falls on Europe's stuttering economy
    Published Mon, Nov 17 2014 12:00 AM by Reuters
    FRANKFURT (Reuters) - As large parts of Europe's economy grind almost to a halt, attention will focus this week on the latest assessments of business confidence in the euro zone and Germany, which has just narrowly avoided a recession.
  • Sun, Nov 16 2014
  • 11:59 PM » Treasuries Gain as Japan Says Economy Shrank for Second Quarter - Bloomberg
    Published Sun, Nov 16 2014 11:59 PM by Bloomberg
    Treasuries Gain as Japan Says Economy Shrank for Second Quarter Bloomberg Treasuries rose for a third day after Japan unexpectedly reported its economy shrank for a second quarter. Ten-year yields declined two basis points to 2.30 percent as of 9:17 a.m. in Tokyo, according to Bloomberg Bond Trader data. The price of the 2.25 ...
  • 11:57 PM » CFPB settles second loan originator compensation case
    Published Sun, Nov 16 2014 11:57 PM by www.cfpbmonitor.com
    Richard J. Andreano, Jr. The CFPB entered into a stipulated order and final judgment with Franklin Loan Corporation (Franklin) to settle allegations that Franklin paid its employee loan originators compensation based on the interest rates charged on mortgage loans in violation of the Regulation Z loan originator compensation rule. Without admitting or denying the allegations, Franklin agreed to pay... More >
    Click Here to Read the Full Article

    Source: www.cfpbmonitor.com
  • Fri, Nov 14 2014
  • 5:07 PM » Lawler: Early Read on Existing Home Sales in October
    Published Fri, Nov 14 2014 5:07 PM by Calculated Risk Blog
    From housing economist Tom Lawler: Based on local realtor/MLS reports from across the country released so far this month, I estimate that US existing home sales as measured by the National Association of Realtors ran at a seasonally adjusted annual rate of 5.28 million , up 2.1% from September's pace and up 2.9% from last October's pace. My "best guess" is that the NAR's estimate for the number of existing homes for sale at the end October will be down about 3% from September and up about 5.7% from last October. Finally, I "guesstimate" that the NAR's estimate for the median existing SF home sales price in October will be up by about 4.4% from last October. A few notes: first, not all realtor/MLS reports define "inventory" in the same way, and some of the publicly-released reports differ from reports sent to the NAR. These differences have made my NAR inventory estimates less reliable than my sales estimates. Second, lately the NAR median existing SF home sales prices have shown faster YOY growth than local realtor/MLS reports would have suggested, and in September the YOY increase in the median sales price in the Northeast was WAY higher than state realtor report would have indicated. I don't know why. I'll update my estimate next week if newly-released realtor/MLS reports warrant an update. CR Note: the NAR is scheduled to release October existing home sales next Thursday,  The consensus is the NAR will report sales at a 5.10 million SAAR (the consensus will move up once this is posted!)
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 4:14 PM » Foreclosure Backlog Slows Recovery in Some States
    Published Fri, Nov 14 2014 4:14 PM by WSJ
    The U.S. foreclosure crisis has largely wound down, but some states-including Florida, New Jersey and New York-still face a giant backlog of delinquent properties that could bog down local housing markets for years to come.
  • 3:32 PM » Janet Yellen Meets With Community Leaders on Fed Policy, Jobs
    Published Fri, Nov 14 2014 3:32 PM by WSJ
    Federal Reserve Chairwoman Janet Yellen met Friday with a coalition of community activists who are urging the central bank to resist pressures to raise interest rates before the labor market has fully recovered and calling for greater public input into the selection of regional Fed bank presidents.
  • 2:39 PM » MBA National Delinquency Survey: Judicial vs. Non-Judicial Foreclosure States in Q3 2014
    Published Fri, Nov 14 2014 2:39 PM by Calculated Risk Blog
    Earlier I posted the MBA National Delinquency Survey press release and a graph that showed mortgage delinquencies and foreclosures by period past due. There is a clear downward trend for mortgage delinquencies, however some states are further along than others. From the press release : "On an aggregated basis, both judicial and non-judicial states saw decreases in loans in foreclosure, although the judicial states continue to have a combined foreclosure inventory rate that is around three times that of non-judicial states. New Jersey continues to lead the nation in loans in foreclosure, although it saw another decrease from the previous quarter. Florida, once with the highest percentage of loans in foreclosure, experienced a significant decrease in the third quarter. The foreclosure inventory in Florida has declined steadily for over two years now, and the percentage of loans in foreclosure is currently less than half of its peak in 2011. State level trends continue to be driven by local economic factors and state law. For example, a change in DC foreclosure mediation requirements was the likely cause of a shift of loans from the 90 days or more past due status to having the foreclosure process initiated," [Mike Fratantoni, MBA's chief economist] said. Click on graph for larger image. This graph is from the MBA and shows the percent of loans in the foreclosure process by state. Posted with permission.  Blue is for judicial foreclosure states, and red for non-judicial foreclosure states. The top states are New Jersey (7.96% in foreclosure, down from 8.10% in Q2), Florida (6.12%, down from 6.81%), New York (5.72%, down from 5.89%), and Maine (4.29% down from 4.51%).  Nevada is the only non-judicial state in the top 10, and this is partially due to state laws that slow foreclosures (D.C added some new foreclosure mediation requirements). Former bubble states California (1.05% down from 1.10%) and Arizona (0.85%, unchanged from Q2...
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 12:45 PM » 10 things: 10 things real estate appraisers won't tell you
    Published Fri, Nov 14 2014 12:45 PM by Market Watch
    The aftermath of real estate bust has made life tougher for home appraisers-and their customers are feeling the impact.
  • 12:27 PM » Barclays Said to Suspend Two Mortgage Traders Amid Review - Bloomberg
    Published Fri, Nov 14 2014 12:27 PM by Bloomberg
    Barclays Said to Suspend Two Mortgage Traders Amid Review Bloomberg Barclays Plc put two mortgage-bond traders on paid leave amid an internal review of the valuations assigned to their positions, according to two people with knowledge of the decision. The employees, Patrick Chan and Michael Hu, trade government-backed ...
  • 11:30 AM » U.S. Economy's Job Creators Aren't Growth Engines
    Published Fri, Nov 14 2014 11:30 AM by WSJ
    The mystery around why the U.S. produces consistent job gains but uneven economic growth could be explained by a simple fact: The sectors leading recent hiring don't add much to output.
  • 10:58 AM » Preowned vehicle sales fuel economy
    Published Fri, Nov 14 2014 10:58 AM by CNBC
    The auto market is doing better than thought. Why? Untracked certified preowned vehicle sales.
  • 10:57 AM » Buy a penthouse, get a Lamborghini
    Published Fri, Nov 14 2014 10:57 AM by CNBC
    Phil Maloof's $38 million Palms Casino Resort Penthouse has been on the market without a potential buyer for five months, and its listing agents have added an additional perk: a 2015 Lamborghini Huracán, Vegasinc.com reports.
  • 10:08 AM » Bullard Says Low Inflation Doesn't Justify Zero Rates - Bloomberg
    Published Fri, Nov 14 2014 10:08 AM by Bloomberg
    Bullard Says Low Inflation Doesn't Justify Zero Rates Bloomberg Federal Reserve Bank of St. Louis President James Bullard said low inflation is not enough to justify keeping rates near zero. "The FOMC has indicated that the policy rate is likely to rise next year, with the exact timing dependent on macroeconomic data in ... and more »
  • 10:07 AM » 5 Tips for Homebuyers Who Work from Home
    Published Fri, Nov 14 2014 10:07 AM by blog.redfin.com
    As you choose your new abode, you can opt for features that make working from home easier and more enjoyable. Here are five tips to remember if you're a homebuyer who also works from home Read More The post 5 Tips for Homebuyers Who Work from Home appeared first on Redfin Real Estate Blog .
    Click Here to Read the Full Article

    Source: blog.redfin.com
  • 10:07 AM » US consumer sentiment at more than 7-year high
    Published Fri, Nov 14 2014 10:07 AM by CNBC
    U.S. consumer sentiment rose in November to a more than seven-year high with falling unemployment and lower gas prices.
  • 10:07 AM » September business inventories up 0.3 percent vs. 0.2 percent estimate
    Published Fri, Nov 14 2014 10:07 AM by CNBC
    This is a breaking news story. Please check back for more updates.. In early trading, Wall Street stocks were modestly lower.
  • 9:09 AM » Retail sales point to more consumer spending zeal
    Published Fri, Nov 14 2014 9:09 AM by CNBC
    U.S. retailers reported strong sales in October, a sign American consumers were spending with more gusto.
  • 9:09 AM » Import prices fall in September
    Published Fri, Nov 14 2014 9:09 AM by CNBC
    U.S. import prices fell in September by the most in more than two years as the cost of petroleum products declined and a strong dollar made it cheaper for Americans to buy goods from abroad.
  • 9:05 AM » Falling Mortgage Rates Not Enough to Entice New Homebuyers in October
    Published Fri, Nov 14 2014 9:05 AM by blog.redfin.com
    In October, 30-year fixed mortgage rates dipped below 4 percent for the first time since June 2013. Read More The post Falling Mortgage Rates Not Enough to Entice New Homebuyers in October appeared first on Redfin Real Estate Blog .
    Click Here to Read the Full Article

    Source: blog.redfin.com
  • Thu, Nov 13 2014
  • 9:49 PM » Cleveland's plan to destroy nearly 6,000 homes
    Published Thu, Nov 13 2014 9:49 PM by CNN
    In and around Cleveland, nearly 6,000 foreclosed and abandoned homes are being destroyed in an effort to save neighborhoods from blight, crime and sinking home prices.
  • 9:45 PM » Wells Fargo Scraps Sale of Mortgage-Servicing Rights to Ocwen - Bloomberg
    Published Thu, Nov 13 2014 9:45 PM by Bloomberg
    Wells Fargo Scraps Sale of Mortgage-Servicing Rights to Ocwen Bloomberg Wells Fargo & Co. (WFC)'s deal to sell $39 billion of residential mortgage-servicing rights to Ocwen Financial Corp. (OCN) has been canceled by mutual agreement after New York's top financial regulator had delayed the transaction. The termination isn't ... and more »
  • 5:12 PM » October California Home Sales Press Release
    Published Thu, Nov 13 2014 5:12 PM by DataQuick
    California October Home Sales November 13, 2014 An estimated 36,830 new and resale houses and condos sold statewide in October 2014. That was up 1.4 percent from 36,316 in September, and up 1.0 percent from 36,468 sales in October 2013. Statewide sales have increased slightly on a year-over-year basis for two consecutive months. The October sales tally was the highest for that month in two years. October sales have varied from a low of 25,832 in 2007 to a high of 70,152 in 2003. The October 2014 sales were 14.1 percent below the average of 42,860 sales for the month of October since 1988, when CoreLogic DataQuick data begin. California sales haven't been above average for any particular month in more than eight years. The median price paid for a home in California in October was $382,000, down 1.8 percent from $389,000 in September and up 7.0 percent from $357,000 in October 2013. The median sale price has declined slightly month-over-month over the past two months. However, October marked the 32nd consecutive month in which the state's median price has been higher than a year earlier. Those year-over-year price increases peaked at 29.2 percent in July last year and since then they have gradually ratcheted down, with single-digit annual gains since July this year. The October 2014 median was 21.1 percent lower than California's peak $484,000 median reached in March/April/May 2007, and it was nearly 73 percent higher than the post-peak trough of $221,000 in April 2009. (That trough was reached during a period when distressed property sales were at unusually high levels and sales of mid- to high-end homes were at relatively low levels.) Of the existing homes sold statewide in October, 5.3 percent were properties that had been foreclosed on during the past year. That was down from a revised 5.4 percent in September and down from 6.7 percent in October 2013. Foreclosure resales peaked at 58.8 percent in February 2009. Short sales - transactions where the sale...
  • 4:00 PM » WSJ Survey: Economists Are Less Worried Fed Will Fall Behind the Curve
    Published Thu, Nov 13 2014 4:00 PM by WSJ
    Economists are a little less worried that the Federal Reserve will wait too long to tighten monetary policy as the economy improves, according to The Wall Street Journal's latest survey.
  • 3:59 PM » Why more homes are being sold at foreclosure auctions even though the foreclosure crisis is over
    Published Thu, Nov 13 2014 3:59 PM by Washington Post
    Six years after the housing bust, lenders are still offloading homes that have been in foreclosure limbo. And they're stepping up their efforts. In October alone, nearly 60,000 of those homes were scheduled to be auctioned off by several banks, up 24 percent from the previous month and seven percent from a year ago, according to RealtyTrac, a housing data firm. That's the highest level since May 2013. Read full article >>
    Click Here to Read the Full Article

    Source: Washington Post
  • 3:59 PM » Kocherlakota Says Low Inflation Should Keep Fed on Hold
    Published Thu, Nov 13 2014 3:59 PM by WSJ
    The Federal Reserve could move further away from its 2% inflation target if it decides to raise interest rates next year, as many Fed officials have suggested and market participants expect, Minneapolis Fed President Narayana Kocherlakota said Thursday.
  • 2:29 PM » Yellen Says Fed Can't Ignore World Economy
    Published Thu, Nov 13 2014 2:29 PM by WSJ
    U.S. Federal Reserve Chair Janet Yellen at a conference of central bankers hosted by the Bank of France in Paris on Friday. Reuters The Federal Reserve must keep a close eye on developments overseas and their impact on the U.S. economy as they set the future course of interest rates, Fed Chairwoman Janet Yellen said Thursday.
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Mortgage Rates:
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