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  • Wed, Jan 4 2017
  • 9:23 AM » U.S. Job Creation Index Ends 2016 on High Note
    Published Wed, Jan 04 2017 9:23 AM by www.gallup.com
    Job creation in the U.S. ended 2016 steady and strong. Gallup's U.S. Job Creation Index remained at +33 in December, matching the measure's high since January 2008.
    Click Here to Read the Full Article

    Source: www.gallup.com
  • 8:27 AM » Manhattan Home Prices Fall as Sellers Concede to Slowing Market
    Published Wed, Jan 04 2017 8:27 AM by Bloomberg
    Bloomberg Manhattan Home Prices Fall as Sellers Concede to Slowing Market Bloomberg Manhattan resale home prices tumbled by the most in more than four years, a sign that sellers are lowering their expectations in a slowing market where buyers have the option to walk away. The median price of previously owned condominiums and co-ops ... and more »
  • 8:23 AM » Why 2017 will finally be the year of the smart home: Consumers figure it out
    Published Wed, Jan 04 2017 8:23 AM by CNBC
    This will be the year of the smart home because the tech companies will be smarter about educating their consumers.
  • Tue, Jan 3 2017
  • 5:15 PM » CFPB fines Transunion, Equifax $23.1M
    Published Tue, Jan 03 2017 5:15 PM by NAFCU
    Consumer credit reporting agencies Transunion and Equifax will settle with the CFPB for a total of $23.1 million for allegedly deceiving consumers about the value of their credit scores.
  • 3:31 PM » U.S. Economic Confidence Reaches Record High in December
    Published Tue, Jan 03 2017 3:31 PM by www.gallup.com
    Americans ended 2016 with higher confidence in the U.S. economy than they have expressed at any other point since 2008. Gallup's Economic Confidence Index averaged +9 in December.
    Click Here to Read the Full Article

    Source: www.gallup.com
  • 3:31 PM » Freddie Mac Announces Final ACIS Transaction of 2016
    Published Tue, Jan 03 2017 3:31 PM by freddiemac.mwnewsroom.com
    Freddie Mac Announces Final ACIS Transaction of 2016
    Click Here to Read the Full Article

    Source: freddiemac.mwnewsroom.com
  • 12:12 PM » Day 1 of a new Congress, and it's already messy
    Published Tue, Jan 03 2017 12:12 PM by CNBC
    If the first day of the new Congress is any indication, we could be in for some scrappy fights, Politico's Ben White says.
  • 10:35 AM » What'd You Miss in Markets Over the Holidays?
    Published Tue, Jan 03 2017 10:35 AM by Bloomberg
    Bloomberg What'd You Miss in Markets Over the Holidays? Bloomberg If the last thing you remember in markets is the Federal Reserve's rate hike, it's time to get back up to speed. The end of the year provided no shortage of noteworthy headlines with the potential to shape markets in 2017, as well as the retracement of ...
  • 10:34 AM » US construction spending hits more than 10 year high in November
    Published Tue, Jan 03 2017 10:34 AM by CNBC
    The Commerce Department said on Tuesday that construction spending increased 0.9 percent to $1.18 trillion.
  • 10:34 AM » ISM Manufacturing index increased to 54.7 in December
    Published Tue, Jan 03 2017 10:34 AM by Calculated Risk Blog
    The ISM manufacturing index indicated expansion in December. The PMI was at 54.7% in December, up from 53.2% in November. The employment index was at 53.1%, up from 52.3% last month, and the new orders index was at 60.2%, up from 53.0%. From the Institute for Supply Management: December 2016 Manufacturing ISM® Report On Business® Economic activity in the manufacturing sector expanded in December, and the overall economy grew for the 91st consecutive month, say the nation's supply executives in the latest Manufacturing ISM® Report On Business®. The report was issued today by Bradley J. Holcomb, CPSM, CPSD, chair of the Institute for Supply Management® (ISM®) Manufacturing Business Survey Committee. " The December PMI® registered 54.7 percent , an increase of 1.5 percentage points from the November reading of 53.2 percent. The New Orders Index registered 60.2 percent , an increase of 7.2 percentage points from the November reading of 53 percent. The Production Index registered 60.3 percent, 4.3 percentage points higher than the November reading of 56 percent. The Employment Index registered 53.1 percent , an increase of 0.8 percentage point from the November reading of 52.3 percent. Inventories of raw materials registered 47 percent, a decrease of 2 percentage points from the November reading of 49 percent. The Prices Index registered 65.5 percent in December, an increase of 11 percentage points from the November reading of 54.5 percent, indicating higher raw materials prices for the 10th consecutive month. The PMI®, New Orders, Production and Employment Indexes all registered new highs for the year 2016, and the forward-looking comments from the panel are largely positive ." emphasis added Click on graph for larger image. Here is a long term graph of the ISM manufacturing index. This was above expectations of 53.8%, and suggests manufacturing expanded at as faster pace in December than in November. Another solid report...
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 8:21 AM » Wall Street, America's New Landlord, Kicks Tenants to the Curb
    Published Tue, Jan 03 2017 8:21 AM by Bloomberg
    Bloomberg Wall Street, America's New Landlord, Kicks Tenants to the Curb Bloomberg On a chilly December afternoon in Atlanta, a judge told Reiton Allen that he had seven days to leave his house or the marshals would kick his belongings to the curb. In the packed courtroom, the truck driver, his beard flecked with gray, stood up, cast ...
  • 8:18 AM » CoreLogic US Home Price Report Shows Prices Up 7.1 Percent in November 2016
    Published Tue, Jan 03 2017 8:18 AM by www.corelogic.com
    —Forecast Indicates Increase of 4.7 Percent by November 2017— CoreLogic ® (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, today released its CoreLogic Home Price Index (HPI ™ ) and HPI Forecast ™ for November 2016 which shows home prices are up both year over year and month over month. Home prices nationwide, including distressed sales, increased year over year by 7.1 percent in November 2016 compared with November 2015 and increased month over month by 1.1 percent in November 2016 compared with October 2016 ,* according to the CoreLogic HPI. The CoreLogic HPI Forecast indicates that home prices will increase by 4.7 percent on a year-over-year basis from November 2016 to November 2017, and on a month-over-month basis home prices are expected to increase by 0.1 percent from November 2016 to December 2016. The CoreLogic HPI Forecast is a projection of home prices using the CoreLogic HPI and other economic variables. Values are derived from state-level forecasts by weighting indices according to the number of owner-occupied households for each state. “Last summer’s very low mortgage rates sparked demand, and with for-sale inventories low, the result has been a pickup in home-price growth,” said Dr. Frank Nothaft, chief economist for CoreLogic. “With mortgage rates higher today and expected to rise even further in 2017, our national Home Price Index is expected to slow to 4.7 percent year over year by November 2017.” “Home prices continue to march higher, with home prices in 27 states above their pre-crisis peak levels,” said Anand Nallathambi, president and CEO of CoreLogic. “Nationally, the CoreLogic Home Price Index remains 4 percent below its April 2006 peak, but should surpass that peak by the end of 2017.” “Home prices continue to march higher, with home prices in 27 states...
    Click Here to Read the Full Article

    Source: www.corelogic.com
  • Fri, Dec 30 2016
  • 12:47 PM » Trump's 'first date' with markets went well, now it's time for the second, says Wells Fargo's Silvia
    Published Fri, Dec 30 2016 12:47 PM by CNBC
    The president-elect has to work to keep the markets as "happy" as they have been since his election, John Silvia says.
  • 9:56 AM » Here's what will happen when millions of jobs are lost to robots
    Published Fri, Dec 30 2016 9:56 AM by CNBC
    A 2013 study from Oxford University predicts that future technology could displace nearly half of American jobs.
  • 8:27 AM » 2016: A Year Defined by America's Diverging Economies
    Published Fri, Dec 30 2016 8:27 AM by The Atlantic
    In many ways, 2016 has been the strongest year, economically, since the mid-2000s, or even the late 1990s. Unemployment was low. Wages were increasing. The markets hit new highs. Consumer confidence rose . Yet Donald Trump unseated the incumbent party and won the presidential election promoting economic pessimism and promising restoration: He swore to Make America Great Again, describing the country as falling behind, workers as jilted, growth as anemic, and the current period of expansion as a sham. How could a message like Trump's take hold in an economy like that? The answer is that it did not take hold with everyone-or, more to the point, everywhere. In ways that have been overlooked and under-appreciated for years, the strength of the post-recession recovery has varied dramatically not just from income bracket to income bracket, but from place to place as well. And it so happens that the places left behind are also places that wield outsized political power-enough power to vault the loser of the popular vote to the presidency and to make the economic story of 2016 more about stagnation, failure, and the dissolution of the American dream than it was about the headline economic numbers. And those headline numbers were undeniably good. This year offered unremarkable but steady growth-about 2 percent , the same-same, just-okay annual pace that has characterized the Obama recovery. But over time, that same-same, just-okay annual pace has nudged the economy to a pretty good position relative to where it was eight years ago. The unemployment rate has fallen to 4.6 percent, its lowest level in nine years and "in the vicinity of maximum employment," according to Janet Yellen, the chair of the Federal Reserve. Businesses added about 2 million jobs , and measures of underemployment dropped as well. "It's a pretty good year bordering on a very good year in terms of jobs," Mark Zandi, the chief economist at Moody's Analytics, told me. Competition...
  • 8:24 AM » Fannie Mae: Mortgage Serious Delinquency rate increased in November
    Published Fri, Dec 30 2016 8:24 AM by Calculated Risk Blog
    Fannie Mae reported today that the Single-Family Serious Delinquency rate increased to 1.23% in November, up from 1.21% in October. The serious delinquency rate is down from 1.58% in November 2015. These are mortgage loans that are "three monthly payments or more past due or in foreclosure".  The Fannie Mae serious delinquency rate peaked in February 2010 at 5.59%. Click on graph for larger image Although the rate is generally declining, the "normal" serious delinquency rate is under 1%.  The Fannie Mae serious delinquency rate has fallen 0.35 percentage points over the last year, and at that rate of improvement, the serious delinquency rate will not be below 1% for about 8 more months. Note: Freddie Mac reported earlier.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • Thu, Dec 29 2016
  • 4:12 PM » Great Rotation: Is the Bull Market in Bonds Over? - Bloomberg
    Published Thu, Dec 29 2016 4:12 PM by Bloomberg
    Bloomberg Great Rotation: Is the Bull Market in Bonds Over? Bloomberg Bloomberg's Abigail Doolittle discusses the drop in bond prices as equities rise on "Bloomberg Markets." (Source: Bloomberg). Most Recent Videos. Great Rotation: Is the Bull Market in Bonds Over? Full Show: What'd You Miss? (12/28) · Full Show: What'd ...
  • 4:12 PM » The markets in January: What's next?
    Published Thu, Dec 29 2016 4:12 PM by CNBC
    The trading community is focused on what will drive markets up in 2017 - and what speed bumps will occur along the way.
  • 11:15 AM » Rising mortgage rates making you nervous? Here's how to lower yours
    Published Thu, Dec 29 2016 11:15 AM by CNBC
    The monthly payment on some new homes is now higher, there is, however, a way to lower it by buying down the rate.
  • 10:50 AM » Dear fiscal policy: Janet Yellen's really not that into you
    Published Thu, Dec 29 2016 10:50 AM by CNBC
    Federal Reserve Chair Janet Yellen's supposed interest in fiscal policy has been exaggerated.
  • 10:49 AM » Which mortgage originators will survive in 2017?
    Published Thu, Dec 29 2016 10:49 AM by The Basis Point
    A lot of loan officers and companies say it's business as usual. Not true.
    Click Here to Read the Full Article

    Source: The Basis Point
  • 10:49 AM » Here's when to buy down your mortgage
    Published Thu, Dec 29 2016 10:49 AM by CNBC
    CNBC's Diana Olick takes a look at whether home buyers should consider buying down their mortgage rates as interest rates begin to rise.
  • 8:55 AM » Redfin Names the Most Competitive Neighborhoods of 2016
    Published Thu, Dec 29 2016 8:55 AM by www.redfin.com
    Homebuyers were most likely to face competition in Seattle, Boston, Denver and San Francisco The post Redfin Names the Most Competitive Neighborhoods of 2016 appeared first on Redfin Real-Time .
    Click Here to Read the Full Article

    Source: www.redfin.com
  • 8:54 AM » Jobless claims fall in sign labor market is near full strength
    Published Thu, Dec 29 2016 8:54 AM by CNBC
    The number of Americans filing for unemployment benefits fell last week, holding well below a level associated with labor market strength.
  • 8:30 AM » PHH Corporation Announces Sale and Subservicing Agreements for its Entire non-GNMA Mortgage Servicing Rights Portfolio
    Published Thu, Dec 29 2016 8:30 AM by corporate.phh.com
    MOUNT LAUREL, N.J.--(BUSINESS WIRE)--Dec. 28, 2016-- PHH Corporation (NYSE: PHH) ("PHH" or the "Company") today announced that it has entered into an agreement with New Residential Investment Corp. (NYSE: NRZ) ("New Residential") for the sale of its entire portfolio of mortgage servicing rights ("MSR") and related servicing advances, excluding the Ginnie Mae ("GNMA") MSRs and related servicing advances that were part of the sale transaction announced in November 2016. Based on the MSR portfolio composition as of October 31, 2016 and market conditions as of December 28, 2016, total proceeds are expected to be approx...
    Click Here to Read the Full Article

    Source: corporate.phh.com
  • Wed, Dec 28 2016
  • 4:19 PM » U.S. Investor Optimism Ends 2016 at Nine-Year High
    Published Wed, Dec 28 2016 4:19 PM by www.gallup.com
    The Wells Fargo/Gallup Investor and Retirement Optimism Index is at its highest level since early 2007, following gains in each of the last three quarters.
    Click Here to Read the Full Article

    Source: www.gallup.com
  • 2:51 PM » QuickTake: Understanding Full Employment - Bloomberg
    Published Wed, Dec 28 2016 2:51 PM by Bloomberg
    Bloomberg QuickTake: Understanding Full Employment Bloomberg Bloomberg's Oliver Renick reports on today's top "QuickTake" topic. He speaks on "Bloomberg Markets." (Source: Bloomberg). Most Recent Videos. QuickTake: Understanding Full Employment · Full Show: Bloomberg Daybreak: Americas (12/27) · Full Show: ...
  • 10:05 AM » Homebuyers Will Look for Cheaper Homes if Mortgage Rates Reach 5 Percent, Redfin Agents Report
    Published Wed, Dec 28 2016 10:05 AM by www.redfin.com
    Homebuyers may look for less expensive homes as rates rise, but Redfin agents caution not to worry The post Homebuyers Will Look for Cheaper Homes if Mortgage Rates Reach 5 Percent, Redfin Agents Report appeared first on Redfin Real-Time .
    Click Here to Read the Full Article

    Source: www.redfin.com
  • 10:04 AM » Pending homes sales fall 2.5 percent in November as Trump bump misses housing
    Published Wed, Dec 28 2016 10:04 AM by CNBC
    Analysts had forecast a 0.4 percent increase in November.
  • 10:03 AM » Over 80 Percent of Largest U.S. Housing Markets Improving
    Published Wed, Dec 28 2016 10:03 AM by freddiemac.mwnewsroom.com
    Over 80 Percent of Largest U.S. Housing Markets Improving
    Click Here to Read the Full Article

    Source: freddiemac.mwnewsroom.com
  • 8:25 AM » Aging population faces challenges in aging homes
    Published Wed, Dec 28 2016 8:25 AM by Market Watch
    Within the next few decades, rural areas will see more growth in the 65-and-older population than urban areas, according to a report from the Urban Institute
  • 8:25 AM » Zillow Forecast on Case-Shiller Index: "Expect a (Very) Modest Slowdown" in November
    Published Wed, Dec 28 2016 8:25 AM by Calculated Risk Blog
    The Case-Shiller house price indexes for October were released this morning. Zillow forecasts Case-Shiller a month early, and I like to check the Zillow forecasts since they have been pretty close. From Zillow: November Case-Shiller Forecast: Expect a (Very) Modest Slowdown After several months in a row of accelerating growth in U.S. home prices, the pace of appreciation is expected to slow somewhat in November, according to Zillow's November Case-Shiller forecast. The November Case-Shiller national index is expected to grow 5.6 percent year-over-year and 0.7 percent month-to-month (seasonally adjusted), on par with the pace of annual growth and down slightly from the 0.9 percent monthly appreciation recorded in October. We expect the 10-city index to grow 4.1 percent year-over-year and 0.4 percent (SA) from October, and the 20-city index is expected to grow 5 percent annually and 0.5 percent (SA) from October. Both annual and seasonally adjusted monthly appreciation forecasted for November for the 10- and 20-city indices would be slower than that recorded in October. Zillow's November Case-Shiller forecast is shown in the table below. These forecasts are based on today's October Case-Shiller data release and the November 2016 Zillow Home Value Index . The November S&P CoreLogic Case-Shiller Indices will not be officially released until Tuesday, January 31. The year-over-year change for the 10-city and 20-city indexes will probably be slightly lower in the November report compared to the October report.  The change for the National index will probably be about the same.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 8:23 AM » What will happen with house prices in 2017?
    Published Wed, Dec 28 2016 8:23 AM by Calculated Risk Blog
    Yesterday I posted some questions for next year: Ten Economic Questions for 2017 . I'll try to add some thoughts, and maybe some predictions for each question. 7) House Prices: It appears house prices - as measured by the national repeat sales index (Case-Shiller, CoreLogic) - will be up about 6% or so in 2016. What will happen with house prices in 2017? The following graph shows the year-over-year change through October 2016, in the seasonally adjusted Case-Shiller Composite 10, Composite 20 and National indices (the Composite 20 was started in January 2000). Click on graph for larger image. The Composite 10 SA was up 4.3% compared to October 2015, the Composite 20 SA was up 5.1% and the National index SA was up 5.6% year-over-year.  Other house price indexes have indicated similar gains (see table below). Although I mostly use Case-Shiller, I also follow several other price indexes. The following table shows the year-over-year change for several house prices indexes. Year-over-year Change for Various House Price Indexes Index Through Increase Case-Shiller Comp 20 Oct-16 5.1% Case-Shiller National Oct-16 5.6% CoreLogic Oct-16 6.7% Zillow Nov-16 6.5% Black Knight Oct-16 5.6% FHFA Purchase Only Oct-16 6.2% Most analysts are forecasting prices will increase in the 3% to 5% range in 2017. Inventories will probably remain low in 2017, although I expect inventories to increase on a year-over-year basis by December of 2017.  Low inventories, and a decent economy suggests further price increases in 2017. Perhaps higher mortgage rates will slow price appreciation.  If we look back at the "taper tantrum" in 2013, price appreciation slowed somewhat over the next year - but that was from a high level.  In June 2013, the Case-Shiller National index was up 9.3% year-over-year.  By June 2014, the index was up 6.3% year-over-year. If inventory increases year-over-year as I expect by December 2017, it seems likely that price...
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 8:22 AM » US Treasurys edge higher as bond investors eyes data, auctions
    Published Wed, Dec 28 2016 8:22 AM by CNBC
    U.S. government debt prices were mostly higher on Wednesday, as investors looked ahead to more auctions and the release of economic data.
  • Tue, Dec 27 2016
  • 2:44 PM » Wells Fargo LIFT programs create 2,000 homeowners in 2016
    Published Tue, Dec 27 2016 2:44 PM by www.wellsfargo.com
    Wells Fargo LIFT programs create 2,000 homeowners in 2016<br/>https://www.wellsfargo.com/about/press/2016/lift-programs-1227.content
    Click Here to Read the Full Article

    Source: www.wellsfargo.com
  • 12:28 PM » Trump Win Could Usher in Boom for U.S. Housing, Says Shiller
    Published Tue, Dec 27 2016 12:28 PM by Bloomberg
    Bloomberg Trump Win Could Usher in Boom for U.S. Housing, Says Shiller Bloomberg Donald Trump's unexpected victory in the November U.S. presidential election could prove a pivotal moment for the U.S. housing market, according to economist and Nobel laureate Robert Shiller. "I think we're at a turning point. The numbers that we're ... and more »
  • 11:21 AM » U.S. consumer confidence hits 15-year high in December
    Published Tue, Dec 27 2016 11:21 AM by Reuters
    (Reuters) - U.S. consumer confidence shot to its highest in more than 15 years in December as expectations for strength in job growth, business conditions and the stock market continued to build following the U.S. presidential election, a survey said on Tuesday.
  • 9:42 AM » Black Knight Home Price Index Report: October 2016 Transactions -- U.S. Home Prices Up 0.2 Percent for the Month; Up 5.6 Percent Year-Over-Year
    Published Tue, Dec 27 2016 9:42 AM by PR Newswire
    JACKSONVILLE, Fla., Dec. 27, 2016 /PRNewswire/ -- Today, the Data & Analytics division of Black Knight Financial Services, Inc. (NYSE: BKFS) released its latest Home Price Index (HPI) report, based on October 2016 residential real estate transactions. The Black Knight HPI utilizes...
  • 8:25 AM » 7 Surprising Trends That Could Disrupt the Housing Market in 2017
    Published Tue, Dec 27 2016 8:25 AM by www.realtor.com
    Everyone seems obsessed these days with the next big thing: must-have holiday toys, tech gadgets-even housing. So what are the homes of the future? The post 7 Surprising Trends That Could Disrupt the Housing Market in 2017 appeared first on Real Estate News & Advice | realtor.com® .
    Click Here to Read the Full Article

    Source: www.realtor.com
  • 8:22 AM » Treasury yields are headed up in 2017—the only question is by how much
    Published Tue, Dec 27 2016 8:22 AM by Market Watch
    The brisk move leaves bond-market watchers staring into 2017 and wondering if the potentially too-far, too-fast surge in yields hearkens a calmer bond market-and a lid on rising market interest rates? Others are confident that market rates, much like the short-term interest-rate tool in the hands of the Federal Reserve, are inevitably headed higher, potentially slowing housing and other rate-sensitive segments of the economy.
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