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  • Thu, May 19 2016
  • 7:43 AM » Five banks sued in U.S. for rigging $9 trillion agency bond market
    Published Thu, May 19 2016 7:43 AM by Reuters
    NEW YORK (Reuters) - Five major banks and four traders were sued on Wednesday in a private U.S. lawsuit claiming they conspired to rig prices worldwide in a more than $9 trillion market for bonds issued by government-linked organizations and agencies.
  • 7:42 AM » Federal Housing Administration (FHA): Strengthening the Home Equity Conversion Mortgage Program
    Published Thu, May 19 2016 7:42 AM by www.federalregister.gov
    This rule proposes to codify several significant changes to FHA's Home Equity Conversion Mortgage program that were previously issued under the authority granted to HUD in the Housing and Economic Recovery Act of 2008 and the Reverse Mortgage Stabilization Act of 2013, and to make additional regulatory changes. The Home Equity Conversion Mortgage program is FHA's reverse mortgage program that enables seniors who have equity in their homes to withdraw a portion of the accumulated equity. The intent of the Home Equity Conversion Mortgage program is to ease the financial burden on elderly homeowners facing increased health, housing, and subsistence costs at a time of reduced income. FHA's mission is to serve underserved markets, which must be balanced with HUD's inherent, as well as, statutory obligation under the National Housing Act to protect the FHA insurance funds. The impacts of the recent financial crisis, including a decline in property values, shrinking retirement accounts, and changing borrower demographics placed seniors with Home Equity Conversion Mortgages at an increased risk of losing their homes due to their inability to make tax and insurance payments. During this time, the FHA HECM program was the only reverse mortgage program available for seniors. The above referenced economic and market factors, combined with certain program features, resulted in increased risk to the Mutual Mortgage Insurance Fund (MMIF). This rulemaking strengthens the FHA HECM program and codifies changes made under the Reverse Mortgage Stabilization Act of 2013 that reduce risk to the MMIF and increase the sustainability of this important program for seniors.
    Click Here to Read the Full Article

    Source: www.federalregister.gov
  • Wed, May 18 2016
  • 4:46 PM » Fed rate hike will juice economy, stocks: Jim Paulsen
    Published Wed, May 18 2016 4:46 PM by CNBC
    The Federal Reserve has perpetuated fear on Wall Street, and once it raises rates it will boost the economy and stocks, Jim Paulsen says.
  • 2:25 PM » Minutes of the Federal Open Market Committee, April 26-27, 2016
    Published Wed, May 18 2016 2:25 PM by Federal Reserve
    Minutes of the Federal Open Market Committee, April 26-27, 2016
    Click Here to Read the Full Article

    Source: Federal Reserve
  • 2:25 PM » Fed likely to hike in June if data improve: Minutes
    Published Wed, May 18 2016 2:25 PM by CNBC
    The Fed will likely raise interest rates in June if economic data points to stronger second-quarter growth.
  • 2:25 PM » Rate hike odds spike across the board after Fed minutes
    Published Wed, May 18 2016 2:25 PM by CNBC
    Expectations for a June rate hike rose as the Federal Reserve's minutes showed that members would support it if the data improved.
  • 1:57 PM » For homebuilders, new regs hurt
    Published Wed, May 18 2016 1:57 PM by CNBC
    An increasing amount of new regulations is hurting business, say some of the nation's biggest homebuilders.
  • 1:56 PM » Moving to a New Job: The Role of Home Equity, Debt, and Access to Credit
    Published Wed, May 18 2016 1:56 PM by Boston Fed
    The severe decline in house prices during and after the Great Recession may have hampered adjustment in U.S. labor markets by limiting mobility of unemployed workers. Mobility will suffer if unemployed workers are reluctant to leave homes that, with debt exceeding value, cannot be disposed of without injecting cash or defaulting-a pattern referred to as "housing lock-in." If such reluctance keeps workers from moving from depressed areas to areas with available jobs, the Beveridge curve, which depicts the relationship between vacancies and joblessness, may shift outward. To examine whether this has been the case in the United States in recent years, the authors use individual-level credit reports merged with loan-level mortgage data to estimate how mobility relates to home equity when labor markets are weak or strong, and they develop and calibrate a dynamic quantitative model of consumption, housing, employment, and mobility that replicates the data well.
  • 1:56 PM » Bond Report: Treasury yields hit fresh 3-week highs as investors brace for Fed minutes
    Published Wed, May 18 2016 1:56 PM by Market Watch
    Treasury prices tumbled Wednesday, pushing yields to fresh three-week highs, as investors sold U.S. government bonds on mounting fears that the Federal Reserve might raise interest rates sooner than expected.
  • 10:35 AM » AIA: "Architecture Billings Index Shows Continued Modest Growth"
    Published Wed, May 18 2016 10:35 AM by Calculated Risk Blog
    Note: This index is a leading indicator primarily for new Commercial Real Estate (CRE) investment. From the AIA: Architecture Billings Index Shows Continued Modest Growth After beginning the year with a decline, the Architecture Billings Index has posted three consecutive months of increasing demand for design activity at architecture firms . As a leading economic indicator of construction activity, the ABI reflects the approximate nine to twelve month lead time between architecture billings and construction spending. The American Institute of Architects (AIA) reported the April ABI score was 50.6 , down from the mark of 51.9 in the previous month. This score still reflects an increase in design services (any score above 50 indicates an increase in billings). The new projects inquiry index was 56.9, down from a reading of 58.1 the previous month. "Architects continue to report a wide range of business conditions, with unusually high variation in design activity across the major building categories," said AIA Chief Economist, Kermit Baker, Hon. AIA, PhD. " The strong growth in design contracts - the strongest score for this indicator since last summer -- certainly suggests that firms will be reporting growth in billings over the next several months ." ... • Regional averages: South (52.2), Northeast (51.5), West (50.8), Midwest (50.8) • Sector index breakdown: multi-family residential (53.7), commercial / industrial (52.0), mixed practice (50.0), institutional (49.0) emphasis added Click on graph for larger image. This graph shows the Architecture Billings Index since 1996. The index was at 50.6 in April, down from 51.9 in March. Anything above 50 indicates expansion in demand for architects' services. Note: This includes commercial and industrial facilities like hotels and office buildings, multi-family residential, as well as schools, hospitals and other institutions. The multi-family residential market was negative for most of 2015 - suggesting...
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 9:39 AM » It's a Great Time to Sell a Home—and to Buy Again
    Published Wed, May 18 2016 9:39 AM by www.realtor.com
    Many factors are leading more and more existing homeowners to realize that now is a great time to sell a home-and buyers may benefit. The post It’s a Great Time to Sell a Home-and to Buy Again appeared first on Real Estate News and Advice - realtor.com .
    Click Here to Read the Full Article

    Source: www.realtor.com
  • 9:37 AM » Freddie Mac May 2016 Outlook
    Published Wed, May 18 2016 9:37 AM by freddiemac.mwnewsroom.com
    Freddie Mac May 2016 Outlook
    Click Here to Read the Full Article

    Source: freddiemac.mwnewsroom.com
  • 8:14 AM » Which candidate is best for housing?
    Published Wed, May 18 2016 8:14 AM by CNBC
    Zillow surveyed housing experts to see which of the presidential candidates would be best for the housing market.
  • 8:12 AM » Wednesday: FOMC Minutes
    Published Wed, May 18 2016 8:12 AM by Calculated Risk Blog
    Wednesday: • At 7:00 AM ET, The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index . • During the day: The AIA's Architecture Billings Index for April (a leading indicator for commercial real estate). • At 2:00 PM, the Fed will release the FOMC Minutes for the meeting of April 26-27 , 2016 From Tim Duy: Fed Officials Come Looking For A Fight non-trivial contingent of the Fed does not want to leave June off the table . That is a message that came thorough loud and clear today. ... there is a message here - many FOMC participants want to go into the June meeting with a reasonable chance that they will hike rates. They don't want the outcome of this meeting to be a foregone conclusion. ... The more hawkish Fedspeak could be foreshadowing that the minutes of the April FOMC meeting will have a hawkish tilt . ... Bottom Line: Today's Fed speakers came looking for a fight with financial market participants. They don't like the low odds assigned to the June meeting. I don't think June is a go; the data isn't quite there yet. But odds are greater than 15%, in my opinion. emphasis added
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 8:12 AM » US Treasurys fall on Fed rate hike jitters
    Published Wed, May 18 2016 8:12 AM by CNBC
    U.S. sovereign bond prices were lower on Wednesday morning after a number of Fed officials raised the prospect of further interest rate hikes this year.
  • 8:12 AM » Goldman's Hatzius Says Flattest Yields Since 2007 Misprice Fed
    Published Wed, May 18 2016 8:12 AM by Bloomberg
    Goldman's Hatzius Says Flattest Yields Since 2007 Misprice Fed Bloomberg Jan Hatzius, the chief economist at Goldman Sachs Group Inc., warned bond investors aren't prepared for the Federal Reserve to raise interest rates. Fed Bank of Atlanta President Dennis Lockhart and his San Francisco counterpart John Williams both said ...
  • Tue, May 17 2016
  • 5:22 PM » 'Tough market': Homebuilder Lennar CEO
    Published Tue, May 17 2016 5:22 PM by CNBC
    Homebuilders gathered for a conference Tuesday say their tepid pace is in response to cautious consumers in housing.
  • 5:21 PM » Dell launches $20 billion high-grade bond
    Published Tue, May 17 2016 5:21 PM by Reuters
    NEW YORK (IFR) - Dell launched a US$20bn investment-grade bond on Tuesday, upsizing the trade on the back of a massive order book as it finances its acquisition of data storage company EMC.
  • 5:21 PM » Luxury real estate's new weapon
    Published Tue, May 17 2016 5:21 PM by CNBC
    In the escalating arms race of luxury real estate, sellers have a new, not-so-secret weapon: Celebrity brokers.
  • 5:21 PM » How split the view is on rate hikes
    Published Tue, May 17 2016 5:21 PM by CNBC
    Tuesday brought the release of April figures on housing, consumer prices and U.S. industrial production.
  • 2:36 PM » Lawler: Early Look at Existing Home Sales in April
    Published Tue, May 17 2016 2:36 PM by Calculated Risk Blog
    From housing economist Tom Lawler: 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 5.44 million in April, up 2.1% from March's preliminary pace, and up 5.8% from last April's seasonally adjusted pace. On the inventory front, national home listings typically show a sizable seasonal increase from March to April, and local realtor/MLS data suggest that was the case last month. However, these data suggest that this April's increase was noticeable smaller than last April's gain, and I project that the NAR's estimate for the number of existing homes for sale at the end of April will be 2.10 million, up 6.1% from March's preliminary estimate but down 5.4% from last April. Finally, local/realtor/MLS data suggest that the NAR's estimate of the median existing single-family home sales price in April will be up by about 6.0% from last April. While home sales in most areas of the country last month were higher than last April, there were a few notable exceptions. For example, homes sales in both the Portland, Oregon area and in the Denver, Colorado area - which have been "hot" and where home prices have increased substantially over the past two years - were down from a year ago last month. In both areas the "months' supply" of homes for sale has been incredibly low, and in both areas active listings increased sharply on the month, though from extremely low levels. Existing home sales were also down sharply from a year ago in the Bay Area of California, where prices have also increased sharply over the past few years and where the months' supply of homes for sale has been extremely low. Realtors "blame" last month's slow sales pace in these areas not simply to the low overall inventory of homes for sale, but mainly to the exceptionally low...
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 2:33 PM » Why Are Home Prices So High? Because Not Enough New Ones Are Going Up
    Published Tue, May 17 2016 2:33 PM by www.realtor.com
    The number of newly constructed homes that were completed in April fell 6.4% from March, according to a new report. The post Why Are Home Prices So High? Because Not Enough New Ones Are Going Up appeared first on Real Estate News and Advice - realtor.com .
    Click Here to Read the Full Article

    Source: www.realtor.com
  • 12:26 PM » Townhouse Construction Growth Continues
    Published Tue, May 17 2016 12:26 PM by eyeonhousing.org
    According to NAHB analysis of the most recent Census data of Starts and Completions by Purpose and Design, townhouse construction starts continued to grow at the start of 2016. Over the last four quarters townhouse starts totaled 94,000, a nearly 29% gain over prior year total. For the first quarter of 2016, townhouse starts came in at 22,000, a noticeable... Read More ›
    Click Here to Read the Full Article

    Source: eyeonhousing.org
  • 12:26 PM » The Fed: Yellen's Philly speech in early June could be key
    Published Tue, May 17 2016 12:26 PM by Market Watch
    Federal Reserve Chairwoman Janet Yellen is scheduled to speak in Philadelphia on June 6, giving herself the last word on the policy outlook ahead of the key June meeting.
  • 11:15 AM » Flat Trends Continue for New Single-Family Home Size
    Published Tue, May 17 2016 11:15 AM by eyeonhousing.org
    Size trends of typical newly built single-family homes posted a small decline from the end of 2015 to the first quarter of 2016. The current data is consistent with an end of the shift to the high-end of the housing market, a pattern that took hold during 2014. As builders develop more homes for entry-level buyers, typical home size is expected to trend lower. According to first quarter 2016 data from... Read More ›
    Click Here to Read the Full Article

    Source: eyeonhousing.org
  • 10:10 AM » How to House Hunt in a Seller's Market
    Published Tue, May 17 2016 10:10 AM by www.builderonline.com
    A scarcity of homes for sale is pushing up prices and making house hunting a challenge, especially at the entry level.
    Click Here to Read the Full Article

    Source: www.builderonline.com
  • 10:09 AM » Chinese money, US real estate
    Published Tue, May 17 2016 10:09 AM by CNBC
    China may be slowing, but its investors will find a way to keep pumping money into the U.S., according to a new report.
  • 8:50 AM » U.S. Economic Confidence Holds Steady at -14
    Published Tue, May 17 2016 8:50 AM by www.gallup.com
    Americans continue to rate the U.S. economy more negatively than positively. Gallup's Economic Confidence Index registered -14 last week, similar to where it has been since early April.
    Click Here to Read the Full Article

    Source: www.gallup.com
  • 8:50 AM » Housing starts, building permits rise
    Published Tue, May 17 2016 8:50 AM by CNBC
    Housing starts rose more than expected in April as builders ramped up the construction of single and multi-family homes.
  • 8:50 AM » US consumer prices post largest gain in three years
    Published Tue, May 17 2016 8:50 AM by CNBC
    Consumer prices jumped as gasoline and rents rose, pointing to a steady inflation build-up that could give the Fed ammunition to raise rates.
  • 7:48 AM » Home Depot beats expectations as crude gains help Wall Street
    Published Tue, May 17 2016 7:48 AM by CNBC
    U.S. stock index futures rose on Tuesday, as Asian and European stock markets built on Monday's gains and Home Depot posted better-than-expected earnings.
  • 7:48 AM » When Home Values Suffer, Household Spending Does Too
    Published Tue, May 17 2016 7:48 AM by The Atlantic
    Perhaps unsurprisingly, there are correlations between how much Americans' homes are worth, their overall wealth, and how they spend their money, and these links go a long way in explaining why a crisis in the housing market can so quickly spiral out of control. A sudden dip in home values can leave homeowners feeling poorer and more economically fragile, causing them to reduce their spending in many different ways. When that happens en masse in a country where consumer spending represents nearly 70 percent of GDP , it can be catastrophic for the national economy. But as straightforward as this dynamic may sound, economists have yet to fully nail down how exactly a fall in home values affects household spending. In order to explore that, the economists Greg Kaplan, Kurt Mitman, and Giovanni L. Violante looked closely at spending on nondurable goods-things that are consumed immediately or within three years or less, such as food and clothing-during and after the housing-market collapse. In a recent paper , they say that they found that the 30 percent decline in housing values that occurred during the Great Recession can be associated with a 6.1 percent decline in spending and a 3.1 percent decline in consumption during the 2007 to 2011 period. They also find that the decline in overall expenditures is partially the result of the fact that some stores reduced their prices in response to decreased demand during that time. Kaplan, Mitman, and Violante aren't the first to put numbers on this, but their research is an expansion on and a confirmation of previous work, such as a 2013 paper that found that geographic areas that were hit the hardest by the crisis saw the largest fluctuations in spending. More than that, households that had low incomes or were deeply in debt were likely to cut their spending more severely than others as housing prices declined. Perhaps the fact that Americans are shunning homeownership at an increasing rate , then will make for a more stable...
  • 7:48 AM » Lending Club under probe by U.S. Justice Department, receives subpoena
    Published Tue, May 17 2016 7:48 AM by Reuters
    (Reuters) - The U.S. Department of Justice has opened an investigation of Lending Club Corp , the online lender whose chief executive, Renaud Laplanche, was forced out last week after an internal probe found the company had falsified documentation when selling a package of loans.
  • 7:47 AM » US Treasurys down as equities, oil drive higher
    Published Tue, May 17 2016 7:47 AM by CNBC
    U.S. sovereign bond prices were lower Tuesday as investors awaited U.S. inflation data and took to riskier trades on the back of higher oil prices.
  • Mon, May 16 2016
  • 5:06 PM » This key recession signal is broken
    Published Mon, May 16 2016 5:06 PM by CNBC
    Treasury yields are behaving as if they are signaling a recession, but strategists say this time it's more likely a sign of something else.
  • 3:06 PM » Economy Continues to Rank as Top U.S. Problem
    Published Mon, May 16 2016 3:06 PM by www.gallup.com
    Eighteen percent of Americans in May name the economy in general as the most important problem facing the U.S. This figure is similar to the 17% who mentioned the economy the prior three months.
    Click Here to Read the Full Article

    Source: www.gallup.com
  • 3:05 PM » 'Audit the Fed' taking a step forward
    Published Mon, May 16 2016 3:05 PM by CNBC
    The Federal Reserve Transparency Act will undergo markup in the House Oversight and Government Reform Committee.
  • 12:55 PM » Freddie Mac Adds New Multifamily Credit Risk Transfer Capability
    Published Mon, May 16 2016 12:55 PM by freddiemac.mwnewsroom.com
    Freddie Mac Adds New Multifamily Credit Risk Transfer Capability
    Click Here to Read the Full Article

    Source: freddiemac.mwnewsroom.com
  • 12:55 PM » Trump or Clinton: Who's Better for Real Estate?
    Published Mon, May 16 2016 12:55 PM by Bloomberg
    Bloomberg Trump or Clinton: Who's Better for Real Estate? Bloomberg Mosaic Managing Partner Ethan Penner discusses the real estate market. He speaks on "Bloomberg Markets." (Source: Bloomberg). Related. Food Matters More Than Energy to U.S. Economy. Most Recent Videos. Trump or Clinton: Who's Better for Real ...
  • 12:54 PM » House to hold May 18 hearing on CFPB's proposed arbitration rule
    Published Mon, May 16 2016 12:54 PM by www.cfpbmonitor.com
    Barbara S. Mishkin On May 18, 2016, the House Financial Services Committee’s Subcommittee on Financial Institutions and Consumer Credit will hold a hearing entitled “Examining the CFPB's Proposed Rulemaking on Arbitration: Is it in the Public Interest and for the Protection of Consumers?" On May 5, 2016, the CFPB issued a proposed rule that would prohibit covered providers... More >
    Click Here to Read the Full Article

    Source: www.cfpbmonitor.com
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Mortgage Rates:
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