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  • Thu, Feb 19 2015
  • 12:15 PM » Dallas home prices surge
    Published Thu, Feb 19 2015 12:15 PM by CNBC
    The median price of a Dallas home was 12.3 percent higher in December 2014 than it was a year earlier, more than twice the U.S. average.
  • 10:32 AM » Is Janet Yellen Leading the Fed Into Currency Wars?
    Published Thu, Feb 19 2015 10:32 AM by Bloomberg
    Bloomberg Is Janet Yellen Leading the Fed Into Currency Wars? Bloomberg Feb. 19 -- On "Before The Bell," Bloomberg's Betty Liu, Pimm Fox, and Alex Barinka run down the top stories of the day. They speak on "In The Loop." Related. U.S. Drilling Rig Count Points to $10 Oil: Shilling. Most Recent Videos. ECB Policy Makers Split on ...
  • 10:32 AM » What are Homebuyers Looking For in the Winter?
    Published Thu, Feb 19 2015 10:32 AM by www.realtor.com
    January's most-searched-for markets on realtor.com were respites from the winter, according to our Hotness Index. The post What Do Winter Home Buyers Seek? Our Hotness Index Knows appeared first on Top News .
    Click Here to Read the Full Article

    Source: www.realtor.com
  • 10:31 AM » Housing Affordability Edges Up in the Fourth Quarter
    Published Thu, Feb 19 2015 10:31 AM by NAHB
    Press Release
  • 10:26 AM » A tax code for a different time
    Published Thu, Feb 19 2015 10:26 AM by Google News
    With a new Congress and fresh talk of (unlikely) base-broadening tax reform, legislators may find it useful to remember the distant origins of some popular tax provisions and ask whether they've kept up with the times. Three of the largest and most popular tax provisions-the mortgage interest deduction, tax benefits for employer pensions, and the […]
  • 10:24 AM » Nobel-winner Shiller wrong on housing: Sternlicht
    Published Thu, Feb 19 2015 10:24 AM by CNBC
    Real estate investor Barry Sternlicht tells CNBC he disagrees with Nobel Prize-winning economist Robert Shiller, who predicted the residential housing market looks topped out.
  • 10:24 AM » Mortgage Rates Rise for Second Consecutive Week
    Published Thu, Feb 19 2015 10:24 AM by freddiemac.mwnewsroom.com
    Mortgage Rates Rise for Second Consecutive Week
    Click Here to Read the Full Article

    Source: freddiemac.mwnewsroom.com
  • 8:52 AM » U.S. jobless claims fall more than expected
    Published Thu, Feb 19 2015 8:52 AM by Reuters
    The number of Americans filing new claims for unemployment benefits fell more than expected last week, offering fresh evidence that the labor market was gathering steam.
  • 8:50 AM » 3% down payments being used at lowest level in 10 years
    Published Thu, Feb 19 2015 8:50 AM by Market Watch
    Experts say this suggests that first-time buyers are not fueling the housing recovery.
  • 8:49 AM » The U.S. Economy According to the White House in 10 Charts
    Published Thu, Feb 19 2015 8:49 AM by WSJ
    Highlights from the Economic Report of the President, released Thursday by the White House.
  • 8:47 AM » Wal-Mart will give half million employees pay raises
    Published Thu, Feb 19 2015 8:47 AM by CNBC
    The move ensures hourly associates earn at least $1.75 above today's federal minimum wage, or $9 per hour, in April.
  • 8:46 AM » Freddie Mac Reports Fourth Quarter and Full-Year 2014 Financial Results
    Published Thu, Feb 19 2015 8:46 AM by freddiemac.mwnewsroom.com
    Freddie Mac Reports Fourth Quarter and Full-Year 2014 Financial Results
    Click Here to Read the Full Article

    Source: freddiemac.mwnewsroom.com
  • Wed, Feb 18 2015
  • 11:51 PM » U.S. crude prices fall sharply as inventory grows
    Published Wed, Feb 18 2015 11:51 PM by Reuters
    TOKYO (Reuters) - U.S. oil futures tumbled more than 3 percent on Thursday to a one-week low around $50 a barrel after data showed a surprisingly sharp build in U.S. crude inventories.
  • 11:50 PM » Thursday: Unemployment Claims, Philly Fed Mfg Survey
    Published Wed, Feb 18 2015 11:50 PM by Calculated Risk Blog
    From DataQuick: Bay Area January Home Sales Slowest in Seven Years; Single-Digit Annual Price Gain January home sales dropped sharply month over month, which is normal for the season, and dipped year over year to the lowest level for a January in seven years. ... A total of 4,439 new and resale houses and condos sold in the nine-county Bay Area in January 2015 . That was down month over month by 40.5 percent from 7,456 sales in December 2014 and down year over year by 5.5 percent from 4,696 sales in January 2014 , according to CoreLogic DataQuick data. ... "January isn't really a bellwether month when it comes to housing trends. For that we'll have to wait until spring," said Andrew LePage," CoreLogic DataQuick data analyst. "But the latest data do indicate the market continues to struggle with challenges that many in the industry hoped would be resolved last year - challenges such as inactive groups of buyers and sellers and a mortgage market that remains difficult for many. More job and income growth, coupled with low mortgage rates, could fuel demand this year in a market still running short on supply and struggling with affordability constraints. It will be interesting to see whether recent home price appreciation will trigger a more pronounced 'supply response' - an increase in the number of homes listed for sale." ... Foreclosure resales accounted for 4.5 percent of all resales in January , up from a revised 3.6 percent in December 2014 and down from 5.2 percent in January 2014. Foreclosure resales in the Bay Area peaked at 52.0 percent in February 2009, while the monthly average over the past 17 years is about 10 percent. Foreclosure resales are purchased homes that have been previously foreclosed upon in the prior 12 months. Short sales made up an estimated 4.0 percent of Bay Area resales in January , the same as in December 2014 and down from 8.5 percent in January 2014. Short sales are transactions in which the sale price...
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 5:59 PM » Freddie Mac February 2015 U.S. Economic and Housing Market Outlook
    Published Wed, Feb 18 2015 5:59 PM by freddiemac.mwnewsroom.com
    Freddie Mac February 2015 U.S. Economic and Housing Market Outlook
    Click Here to Read the Full Article

    Source: freddiemac.mwnewsroom.com
  • 4:39 PM » Treasuries Jump as Fed Minutes Show Support for Keeping Rate Low
    Published Wed, Feb 18 2015 4:39 PM by Bloomberg
    Treasuries Jump as Fed Minutes Show Support for Keeping Rate Low Bloomberg (Bloomberg) -- Treasuries climbed as minutes of the Federal Reserve's January meeting showed many policy makers favored keeping the benchmark interest rate at virtually zero "for a longer time" amid slow wage growth and international turmoil. The yield ... and more »
  • 4:39 PM » Fixer Uppers: A Pot of Gold or a Money Pit?
    Published Wed, Feb 18 2015 4:39 PM by www.wsj.com
    Realtor.com identifies the U.S. cities whose homes on the market offer the biggest price break for buyers willing to put in a little work-as well as those where the payoff is minimal.
  • 4:39 PM » Last Year Saw Pivot In New-Home Sizes
    Published Wed, Feb 18 2015 4:39 PM by WSJ
    The median size of newly built homes in the U.S. declined for the third straight quarter, hinting at the return of the entry-level buyer.
  • 4:38 PM » Sacramento Housing in December: Total Sales down 5% Year-over-year
    Published Wed, Feb 18 2015 4:38 PM by Calculated Risk Blog
    During the recession, I started following the Sacramento market to look for changes in the mix of houses sold (equity, REOs, and short sales). For some time, not much changed. But over the last 2+ years we've seen some significant changes with a dramatic shift from foreclosures (REO: lender Real Estate Owned) to short sales, and the percentage of total distressed sales declining sharply. This data suggests healing in the Sacramento market and other distressed markets are showing similar improvement.  Note: The Sacramento Association of REALTORS® started breaking out REOs in May 2008, and short sales in June 2009. In January, 16.6% of all resales were distressed sales. This was up from 12.8% last month, and down from 19.5% in January 2013. Since distressed sales happen year round, but conventional sales decline in December and January, the percent of distressed sales bumps up in January (seasonal). The percentage of REOs was at 9.2%, and the percentage of short sales was 7.4%. Here are the statistics for January. Click on graph for larger image. This graph shows the percent of REO sales, short sales and conventional sales. There has been a sharp increase in conventional (equity) sales that started in 2012 (blue) as the percentage of distressed sales declined sharply. Active Listing Inventory for single family homes increased 24.8% year-over-year (YoY) in January.  In general the YoY increases have been trending down after peaking at close to 100%.  This is the smallest YoY increase in inventory since June 2013. Cash buyers accounted for 20.6% of all sales (frequently investors). Total sales were down 5.2% from January 2014, and conventional equity sales were down 1.8% compared to the same month last year. Summary: There was a seasonal bump in the percent of distressed sales, but overall this is an improving market.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 3:04 PM » Minutes of the Federal Open Market Committee, January 27-28, 2015
    Published Wed, Feb 18 2015 3:04 PM by Federal Reserve
    Minutes of the Federal Open Market Committee, January 27-28, 2015
    Click Here to Read the Full Article

    Source: Federal Reserve
  • 3:03 PM » ECB approves 2 week extension of emergency liquidity for Greek banks: DJ, citing source
    Published Wed, Feb 18 2015 3:03 PM by CNBC
    Debt talks between Greece and its euro zone lenders collapsed on Monday, which raised concern about a possible Geek exit from the euro zone. On one side of the standoff, Greece sees the euro zone as a house of cards, in which a Greek exit would bring down the rest. Germany, on the other, considers the 19 single currency nations as climbers held together by a rope, with...
  • 3:03 PM » Key Passages in the Fed's January Meeting Minutes
    Published Wed, Feb 18 2015 3:03 PM by WSJ
    Federal Reserve officials remain optimistic about the U.S. economic outlook but also worried about the prospect that slower overseas growth could dampen the recovery, according to minutes of their January meeting released Wednesday.
  • 3:03 PM » Fed officials worried about hiking rates too soon: minutes
    Published Wed, Feb 18 2015 3:03 PM by Reuters
    WASHINGTON (Reuters) - Federal Reserve policymakers expressed concern last month that raising interest rates too soon could pour cold water on the U.S. economic recovery, and fretted over the impact of dropping "patient" from the central bank's interest rate guidance.
  • 3:02 PM » Deutsche Bank Real Estate Unit: Get Thee to Europe
    Published Wed, Feb 18 2015 3:02 PM by WSJ
    Deutsche Asset & Wealth Management, the real-estate investment arm of the German investment bank, is advising investors to allocate more of their portfolios to Europe and less to property in the U.S. and Asia.
  • 3:02 PM » Zillow deal has 'significant synergy potential'
    Published Wed, Feb 18 2015 3:02 PM by CNBC
    The two most popular real estate search sites are now under the same roof after Zillow closed the Trulia acquisition after closing bell on Tuesday.
  • 3:02 PM » January Bay Area Region Home Sales Press Release
    Published Wed, Feb 18 2015 3:02 PM by DataQuick
    Bay Area January Home Sales Slowest in Seven Years; Single-Digit Annual Price Gain February 18, 2015 CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled services provider, today released its January 2015 San Francisco Bay Area housing market report. January home sales dropped sharply month over month, which is normal for the season, and dipped year over year to the lowest level for a January in seven years. The median price paid for a home in January also declined sharply month over month - another seasonal norm - but it rose 9 percent from a year earlier, marking the 34th straight month with a year-over-year price gain. A total of 4,439 new and resale houses and condos sold in the nine-county Bay Area in January 2015. That was down month over month by 40.5 percent from 7,456 sales in December 2014 and down year over year by 5.5 percent from 4,696 sales in January 2014, according to CoreLogic DataQuick data. Bay Area sales have fallen an average of 28.5 percent between the months of December and January since 1988, when CoreLogic DataQuick data began. January 2015 sales were the lowest for that month since 3,586 homes sold in January 2008, which is the trough for January home sales in CoreLogic DataQuick's statistics. The peak for January home sales was in 2005, when 8,298 homes sold. The January 2015 sales tally was 25.8 percent below the historical January average of 5,985 sales. The median price paid for a home in the Bay Area was $572,000 in January 2015. That was down month over month by 5.1 percent from $603,000 in December 2014 and up year over year by 9.0 percent from $525,000 in January 2014. Although January 2015 marked the 34th consecutive month with a year-over-year gain in the median sale price, those annual increases slipped from double-digit to single-digit gains in the last few months. In January 2014 the region's median price rose by 26.5 percent compared with January 2013 - nearly triple the gain when...
  • 3:02 PM » Millennials May Surpass Gen X in Housing Market This Year
    Published Wed, Feb 18 2015 3:02 PM by www.builderonline.com
    USA Today reporter Hadley Malcolm reports on how Millennials are taking interest in homeownership.
    Click Here to Read the Full Article

    Source: www.builderonline.com
  • 1:29 PM » Banks aren't lending; here's who is
    Published Wed, Feb 18 2015 1:29 PM by CNBC
    Though bank lending to consumers has slowed in recent months, there is one place people can go to get a cash infusion.
  • 1:20 PM » Agencies Announce Reissuance of Checks Related to the Independent Foreclosure Review
    Published Wed, Feb 18 2015 1:20 PM by OCC
    Replacement checks are being mailed this week to borrowers eligible for payment under the Independent Foreclosure Review Payment Agreements and who have not yet cashed or deposited their check, the Federal Reserve Board and the Office of the Comptroller of the Currency announced Wednesday.
  • 11:47 AM » AIA: Architecture Billings Index "softens" in January
    Published Wed, Feb 18 2015 11:47 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 Softens in January Following a nine-month stretch of positive billings, the Architecture Billings Index (ABI) showed no increase in design activity in January. 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 January ABI score was 49.9, down from a mark of 52.7 in December . This score reflects a very modest decrease in design services (any score above 50 indicates an increase in billings). The new projects inquiry index was 58.7, down from the reading of 59.1 the previous month. "This easing in demand for design services is a bit of a surprise given the overall strength of the market over the past nine months," said AIA Chief Economist Kermit Baker, Hon. AIA, PhD. "Likely some of this can be attributed to severe weather conditions in January. We will have a better sense if there is a reason for more serious concern over the next couple of months." emphasis added Click on graph for larger image. This graph shows the Architecture Billings Index since 1996. The index was at 49.9 in January, down from 52.7 in December. 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. According to the AIA, there is an "approximate nine to twelve month lag time between architecture billings and construction spending" on non-residential construction.  This is just one month of slight contraction - the index is noisy - and this index was mostly positive in 2014, suggesting an increase in CRE investment in 2015.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 11:47 AM » Lew urges Greece's Varoufakis to strike bailout deal
    Published Wed, Feb 18 2015 11:47 AM by Market Watch
    WASHINGTON (MarketWatch) - U.S. Treasury Secretary Jacob Lew spoke by phone on Wednesday with Greek Finance Minister Yanis Varoufakis and urged him to work to find an agreement to extend Greece's bailout past the end of the month. According to a spokesman, Lew said that "time is of the essence." Lew pointed out that failure to reach an agreement would lead to immediate hardship in Greece and that uncertainty is not good for Europe. Lew "urged Greece to find a constructive path forward in partnership with Europe and the International Monetary Fund to build on the foundation that exists to advance growth and reform." Lew told Varoufakis that he would also be encouraging Greece's international creditors to reach a deal.
  • 10:35 AM » Does It Count as ‘Real' Deflation When Prices Hit an Oil Slick?
    Published Wed, Feb 18 2015 10:35 AM by WSJ
    When is deflation not really, well, real deflation?
  • 10:34 AM » 5 Things to Watch in Wednesday's Federal Reserve Minutes
    Published Wed, Feb 18 2015 10:34 AM by WSJ
    Here are five things to watch in the minutes from the Federal Reserve's minutes, released Wednesday at 2 p.m. EST.
  • 10:33 AM » Here's a softer move the Fed could make: Insana
    Published Wed, Feb 18 2015 10:33 AM by CNBC
    Here's an idea of how the Fed could test the water on raising rates without making a market-rattling move, says Ron Insana.
  • 8:59 AM » Fed Minutes Will Show How “Patient” Debate is Evolving
    Published Wed, Feb 18 2015 8:59 AM by WSJ
    Minutes of the Federal Reserve's Jan. 27-28 policy meeting, to be released today, could reveal the contours of its discussion about forward guidance on interest rates.
  • 8:59 AM » Housing Starts decreased to 1.065 Million Annual Rate in January
    Published Wed, Feb 18 2015 8:59 AM by Calculated Risk Blog
    From the Census Bureau: Permits, Starts and Completions Housing Starts: Privately-owned housing starts in January were at a seasonally adjusted annual rate of 1,065,00 0. This is 2.0 percent below the revised December estimate of 1,087,000, but is 18.7 percent above the January 2014 rate of 897,000 . Single-family housing starts in January were at a rate of 678,000; this is 6.7 percent below the revised December figure of 727,000. The January rate for units in buildings with five units or more was 381,000. emphasis added Building Permits: Privately-owned housing units authorized by building permits in January were at a seasonally adjusted annual rate of 1,053,000. This is 0.7 percent below the revised December rate of 1,060,000, but is 8.1 percent above the January 2014 estimate of 974,000. Single-family authorizations in January were at a rate of 654,000; this is 3.1 percent (±0.9%) below the revised December figure of 675,000. Authorizations of units in buildings with five units or more were at a rate of 372,000 in January. Click on graph for larger image. The first graph shows single and multi-family housing starts for the last several years. Multi-family starts (red, 2+ units) increased slightly in January.  Multi-family starts are up 23% year-over-year. Single-family starts (blue) decreased slightly in January and are up 16% year-over-year. The second graph shows total and single unit starts since 1968.  The second graph shows the huge collapse following the housing bubble, and - after moving sideways for about two years and a half years - housing is now recovering (but still historically low), This was close to expectations of 1.070 million starts in January, although starts in November and December were revised down.  Overall this was a decent report with housing starts up almost 19% year-over-year (starts were weak in early 2014).  I'll have more later ...
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 8:58 AM » Are You Borrowing More?
    Published Wed, Feb 18 2015 8:58 AM by WSJ
    Household debt is on the rise. Mortgages, credit cards, car loans and student loans rose $117 billion between October and December, to $11.8 trillion.
  • 8:58 AM » Mortgage apps plunge as rates hit highest level of year
    Published Wed, Feb 18 2015 8:58 AM by CNBC
    Mortgage interest rates rose to its highest since the beginning of this year, and mortgage volume reacted in the opposite direction.
  • 8:55 AM » Deutsche Bank Crunching Data Finds Hidden Draghi QE Risks
    Published Wed, Feb 18 2015 8:55 AM by Bloomberg
    Deutsche Bank Crunching Data Finds Hidden Draghi QE Risks Bloomberg That's the message from Deutsche Bank AG's Alexander Duering as he contemplates the European Central Bank's unprecedented bond-buying program. Having crunched 10 years' worth of trading data, the fixed-income strategist concludes that the 1.1 ... and more »
  • 12:47 AM » Bears Who Called Treasuries Wrong Mostly Left Too Soon to Profit
    Published Wed, Feb 18 2015 12:47 AM by Bloomberg
    Bears Who Called Treasuries Wrong Mostly Left Too Soon to Profit Bloomberg (Bloomberg) -- Most of the Treasury market bears who proved to be experts at bad timing in January are calling the market wrong again in February. Hedge-fund managers and other large speculators cut bets against 10-year notes by more than 80 percent in ...
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