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  • Fri, Jul 15 2016
  • 9:42 AM » US retail sales post solid rise in June
    Published Fri, Jul 15 2016 9:42 AM by CNBC
    U.S. retail sales posted a healthy increase in June, another sign that consumer spending picked up in the spring.
  • 9:41 AM » U.S. consumer prices maintain gains on rising housing, healthcare costs
    Published Fri, Jul 15 2016 9:41 AM by Reuters
    increased for a fourth straight month in June as Americans paid
  • 9:41 AM » U.S. industrial output surges in June, boosted by autos
    Published Fri, Jul 15 2016 9:41 AM by Reuters
    manufacturing and utility output, the Federal Reserve said on
  • 9:40 AM » Treasuries Halt Record-Setting Run as New U.K. Leader Takes Post
    Published Fri, Jul 15 2016 9:40 AM by Bloomberg
    Bloomberg Treasuries Halt Record-Setting Run as New U.K. Leader Takes Post Bloomberg Treasuries snapped a record-setting rally as U.K. Prime Minister Theresa May's new government set to work, easing the flight to safety that the surprise Brexit vote triggered in June. "We were really worried about Brexit, but suddenly U.K. politics ... and more »
  • 8:14 AM » Wells Fargo earnings match estimates
    Published Fri, Jul 15 2016 8:14 AM by CNBC
    Wells Fargo reported quarterly earnings that matched analysts' expectations Friday.
  • Thu, Jul 14 2016
  • 4:19 PM » Interest-rate environment is looking tough for mortgage servicers
    Published Thu, Jul 14 2016 4:19 PM by Market Watch
    Brexit could add to the gloom facing bank and nonbank mortgage servicers, says Fitch.
  • 4:19 PM » Looking back 7 Years Ago: The Sluggish Recovery Began
    Published Thu, Jul 14 2016 4:19 PM by Calculated Risk Blog
    Note: This is the 12th year I've been writing this blog.  Sometimes it is fun to look back, especially at turning points.  Starting in January 2005, I was very bearish on housing - and in early 2007, I predicted a recession. However in 2009 I became more optimistic.  Here are a couple of posts I wrote 7 years ago on July 15, 2009: Is the Recession Over? Show me the Engines of Growth Back in February I pointed out that I expected to see some economic rays of sunshine this year. But I never expected an immaculate recovery forecast from the FOMC. Although I've argued repeatedly that a "Great Depression 2" was extremely unlikely, I think the other extreme - an immaculate recovery - is also unlikely. I also noted - because the recovery would be sluggish, and jobless at first - that I'd expect the NBER to wait some time before dating the recession. The NBER finally dated the end of the recession in September 2010 : CAMBRIDGE September 20, 2010 - The Business Cycle Dating Committee of the National Bureau of Economic Research met yesterday by conference call. At its meeting, the committee determined that a trough in business activity occurred in the U.S. economy in June 2009. The trough marks the end of the recession that began in December 2007 and the beginning of an expansion. The recession lasted 18 months, which makes it the longest of any recession since World War II. Currently I'm still positive on the economy, and - as I noted in The Endless Parade of Recession Calls last year: Looking at the economic data, the odds of a recession in 2016 are very low (extremely unlikely in my view). Someday I'll make another recession call, but I'm not even on recession watch now . I'm still not a recession watch.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 4:18 PM » Here's How Much You Need to Save Each Day to Buy a Home in 15 Top Cities
    Published Thu, Jul 14 2016 4:18 PM by www.realtor.com
    Saving up for a down payment may seem impossible, but it's not. Here's how much you need to sock away a day to buy a home in the 15 largest U.S. metros. The post Here’s How Much You Need to Save Each Day to Buy a Home in 15 Top Cities appeared first on Real Estate News and Advice - realtor.com .
    Click Here to Read the Full Article

    Source: www.realtor.com
  • 12:44 PM » The $7 million bet against homebuilders
    Published Thu, Jul 14 2016 12:44 PM by CNBC
    Homebuilders have fallen 11 percent from their high last month, and one trader bets there's more downside ahead.
  • 12:15 PM » The Housing Market Is Waving a Red Flag
    Published Thu, Jul 14 2016 12:15 PM by Bloomberg
    Bloomberg The Housing Market Is Waving a Red Flag Bloomberg Almost nine years after the housing-market bust helped trigger the most recent recession, RealtyTrac senior vice president Daren Blomquist sees the industry waving a red flag. The same fervent speculation that abetted the housing bubble is showing up ... and more »
  • 12:15 PM » Sacramento Housing in June: Sales up 1.8%, Active Inventory down 12% YoY
    Published Thu, Jul 14 2016 12:15 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 a few years, not much changed. But in 2012 and 2013, we saw some significant changes with a dramatic shift from distressed sales to more normal equity sales. 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 June, total sales were up 1.8% from June 2015, and conventional equity sales were up 6.2% compared to the same month last year. In June, 5.0% of all resales were distressed sales. This was down from 7.0% last month, and down from 10.6% in June 2015, and the lowest level since Sacramento started tracking distressed sales. The percentage of REOs was at 2.5% in June, and the percentage of short sales was 2.5%. Here are the statistics . 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 decreased 12.1% year-over-year (YoY) in June.  This was the fourteenth consecutive monthly YoY decrease in inventory in Sacramento. Cash buyers accounted for 13.9% of all sales (frequently investors). Summary: This data suggests a more normal market with fewer distressed sales, more equity sales, and less investor buying - but limited inventory.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 10:34 AM » Fink: 0.75% yield wouldn't surprise me
    Published Thu, Jul 14 2016 10:34 AM by CNBC
    BlackRock's Larry Fink tells CNBC he's worried bond yields will drop further before ultimately going higher.
  • 10:30 AM » U.S. new home sales seen up 8.6 percent in June: MBA
    Published Thu, Jul 14 2016 10:30 AM by Reuters
    NEW YORK (Reuters) - U.S. sales of new single-family homes likely grew at an seasonally adjusted annualized rate of 530,000 units in June, up 8.6 percent from a 488,000 annualized pace in May, the Mortgage Bankers Association said on Thursday.
  • 8:45 AM » US jobless claims unchanged as labor market picks up speed
    Published Thu, Jul 14 2016 8:45 AM by CNBC
    The number of Americans filing for benefits held at lower levels, pointing to momentum in the labor market after job growth surged in June.
  • 8:45 AM » US Producer Price Index up 0.5% in June
    Published Thu, Jul 14 2016 8:45 AM by CNBC
    The Labor Department said Thursday its producer price index for final demand rose 0.5 percent in June, versus analysts' expectations of 0.3 percent.
  • 7:58 AM » ‘Saving their bullets' — analysts react to surprise BOE call
    Published Thu, Jul 14 2016 7:58 AM by Market Watch
    The Bank of England took markets by surprise on Thursday, making no changes to interest rates in a decision analysts described as prudent and understandable, but at the same time painting it into a corner.
  • 7:58 AM » Bank of England keeps key interest rate on hold
    Published Thu, Jul 14 2016 7:58 AM by CNBC
    Bank of England keeps key interest rate on hold|| 103787978
  • Wed, Jul 13 2016
  • 2:13 PM » U.S. economy shows few signs of sustained inflation pressure: Fed
    Published Wed, Jul 13 2016 2:13 PM by Reuters
    WASHINGTON, (Reuters) - The U.S. economy continued to expand from mid-May through the end of June but there was little indication that inflation would surge any time soon, the Federal Reserve said on Wednesday.
  • 1:21 PM » Q2 GDP Forecasts
    Published Wed, Jul 13 2016 1:21 PM by Calculated Risk Blog
    From the Altanta Fed: GDPNow The GDPNow model forecast for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2016 is 2.3 percent on July 12, down from 2.4 percent on July 6. From the NY Fed Nowcasting Report The FRBNY Staff Nowcast stands at 2.1% and 2.3% for 2016:Q2 and 2016:Q3, respectively. From Merrill Lynch: Wholesale inventories increased 0.1% mom in May, down from a 0.7% mom increase in the prior month (revised from 0.6% mom initially) and lower than consensus expectations of a 0.2% mom change. The data were a bit above our own expectations, which added 0.2pp to our GDP tracking estimate for 2Q, bringing us to 2.8% qoq saar. CR Note: Looks like real GDP growth in the 2% to 2.5% range.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 1:19 PM » More renters sour on homeownership, some blame student debt
    Published Wed, Jul 13 2016 1:19 PM by CNBC
    A new survey is showing weaker traffic at open houses and less interest in taking on a mortgage, as worries increase about student debt loads.
  • 11:00 AM » Amid Talk of Money Helicopters, Abe Eyes Reboot of Economic Plan
    Published Wed, Jul 13 2016 11:00 AM by Bloomberg
    Bloomberg Amid Talk of Money Helicopters, Abe Eyes Reboot of Economic Plan Bloomberg Ben S. Bernanke earned the nickname "Helicopter Ben" for once suggesting a central bank could overcome deflation by cranking up the money presses to finance tax cuts. He's always made clear such efforts would be a last resort, the equivalent of ... and more »
  • 9:52 AM » Gundlach says Wall Street's suffering ‘mass psychosis' as stocks soar, bond yields stay low
    Published Wed, Jul 13 2016 9:52 AM by Market Watch
    This market is dealing with a "mass psychosis." That's the latest perspective on the state of Wall Street from Jeff Gundlach, the star money manager, who founded DoubleLine Capital.
  • 8:01 AM » US Treasurys higher as investors turn away from stocks
    Published Wed, Jul 13 2016 8:01 AM by CNBC
    U.S. sovereign bond prices were trading higher Wednesday with investors seeking safe havens after a lull in stock gains.
  • 8:01 AM » Have You Thought About Tapering, Mario Draghi? - Bloomberg
    Published Wed, Jul 13 2016 8:01 AM by Bloomberg
    Bloomberg Have You Thought About Tapering, Mario Draghi? Bloomberg It's "damned if you do, damned if you don't" for the European Central Bank. In the coming months, President Mario Draghi and his colleagues will need to decide what to do with a bond-buying plan that is already set to exceed 1.7 trillion euros. Their ... and more »
  • Tue, Jul 12 2016
  • 2:08 PM » NYC's ultra-luxury market struggles
    Published Tue, Jul 12 2016 2:08 PM by CNBC
    New York City's ultraluxury real estate frenzy appears to have come to an end. NYT reports.
  • 2:08 PM » 6 Fed banks wanted 0.25% hike in discount rate in June
    Published Tue, Jul 12 2016 2:08 PM by CNBC
    Some Federal Reserve banks were in favor of raising the discount rate in June, but the central bank ultimately left it unchanged.
  • 2:08 PM » Fed's Bullard Says Brexit to Have 'Close to Zero' U.S. Impact - Bloomberg
    Published Tue, Jul 12 2016 2:08 PM by Bloomberg
    Bloomberg Fed's Bullard Says Brexit to Have 'Close to Zero' U.S. Impact Bloomberg Federal Reserve Bank of St. Louis President James Bullard said he thought the U.K.'s vote to leave the European Union wouldn't have a lasting effect on the U.S. economy and he didn't view a drop in U.S. bond yields as a warning on the outlook for growth. and more »
  • 2:08 PM » U.S. economy likely grew 2.3 percent in second quarter: Atlanta Fed
    Published Tue, Jul 12 2016 2:08 PM by Reuters
    NEW YORK (Reuters) - The U.S. economy likely expanded at a 2.3 percent annualized rate in the second quarter following the latest data on wholesale trade, the Atlanta Federal Reserve's GDPNow forecast model showed on Tuesday.
  • 1:07 PM » When are people with Foreclosures and Short Sales eligible to borrow again?
    Published Tue, Jul 12 2016 1:07 PM by Calculated Risk Blog
    Some information from mortgage broker Solyent Green is People: For people with foreclosures or short sales on their record, the waiting period depends on if there are "Extenuating Circumstances" EC ( death in family, company relocation/shut down - about 5/10% of cases) or if the foreclosure or short sale was due to "Financial Mismanagement" FM (the majority of cases). Jumbo loans, Foreclosure: 7 years (FM and EC) Jumbo loans, Short Sale: 7 years FM, only 4 years EC Fannie/Freddie, Foreclosure: 7 years FM, 3 years EC Fannie/Freddie, Short Sale: 4 years FM, 2 years EC FHA Foreclosure/Short Sale: 3 years (FM and EC) A large number of the foreclosures were in 2009 and 2010, so those people will be eligible to borrow soon. CR Note: Even though people are eligible to borrow, doesn't mean they will. They will have to saved enough for a downpayment, and many of these people are psychological scarred (and will wait longer to buy again). Interesting: Soylent Green is People also offered this comment on mortgage rates: "It's possible to get a 30 fixed purchase at 3.125%, but refinance 30 fixed are priced at 3.625% to stave off pipeline runoff. That averages to 3.375ish, giving borrowers the wrong idea that they can refi at these super low rates."
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 1:07 PM » Homeowners have $260 billion more to tap
    Published Tue, Jul 12 2016 1:07 PM by CNBC
    Rising house prices boosted home equity by $260 billion in the first quarter alone. How are homeowners responding?
  • 1:07 PM » Freddie Mac July 2016 Outlook
    Published Tue, Jul 12 2016 1:07 PM by freddiemac.mwnewsroom.com
    Freddie Mac July 2016 Outlook
    Click Here to Read the Full Article

    Source: freddiemac.mwnewsroom.com
  • 8:41 AM » CoreLogic Reports 38,000 Completed Foreclosures in May 2016
    Published Tue, Jul 12 2016 8:41 AM by www.corelogic.com
    —National Foreclosure Inventory Down 24.5 Percent from May 2015— CoreLogic ® (NYSE: CLGX), a leading global property information, analytics and data-enabled services provider, today released its May 2016 National Foreclosure Report which shows the foreclosure inventory declined by 24.5 percent and completed foreclosures declined by 6.9 percent compared with May 2015. The number of completed foreclosures nationwide decreased year over year from 41,000 in May 2015 to 38,000 in May 2016, representing a decrease of 67.9 percent from the peak of 117,813 in September 2010. The foreclosure inventory represents the number of homes at some stage of the foreclosure process and completed foreclosures reflect the total number of homes lost to foreclosure. Since the financial crisis began in September 2008, there have been approximately 6.3 million completed foreclosures nationally, and since homeownership rates peaked in the second quarter of 2004, there have been approximately 8.3 million homes lost to foreclosure. As of May 2016, the national foreclosure inventory included approximately 390,000, or 1.0 percent, of all homes with a mortgage compared with 517,000 homes, or 1.3 percent, in May 2015. The May 2016 foreclosure inventory rate is the lowest for any month since October 2007.   CoreLogic also reports that the number of mortgages in serious delinquency (defined as 90 days or more past due including loans in foreclosure or REO) declined by 21.6 percent from May 2015 to May 2016, with 1.1 million mortgages, or 2.8 percent, in this category. The May 2016 serious delinquency rate is the lowest in more than eight years, since October 2007. “The foreclosure rate fell to 1 percent in May, which is twice the long-term average of 0.5 percent. However, this masks the underlying progress at the state level,” said Dr. Frank Nothaft, chief economist for CoreLogic. “Twenty-nine states had foreclosure rates below the national...
    Click Here to Read the Full Article

    Source: www.corelogic.com
  • 8:41 AM » America is the ‘last man standing' with positive yields, strategist says
    Published Tue, Jul 12 2016 8:41 AM by CNBC
    Fixed income strategist Mark Grant says a dip in global bond yields is herding investors to the U.S.
  • 8:41 AM » US Treasurys lower as stock rally pulls investors into risk-on trades
    Published Tue, Jul 12 2016 8:41 AM by CNBC
    U.S. sovereign bond prices were lower Tuesday as investors took on more risk after the S&P 500 hit record highs.
  • 8:41 AM » Bernanke says Bank of Japan has options to further ease monetary policy
    Published Tue, Jul 12 2016 8:41 AM by Market Watch
    Former Federal Reserve Chairman Ben Bernanke rejects the notion that the Bank of Japan is short of easing ammunition, according to a Japanese official.
  • 8:41 AM » Big cities where homes are affordable
    Published Tue, Jul 12 2016 8:41 AM by CNBC
    Homes in many areas of the United States have become so costly that few but high earners can afford them. Then there are the exceptions.
  • 8:41 AM » NFIB: Small Business Optimism Index increased Again in June
    Published Tue, Jul 12 2016 8:41 AM by Calculated Risk Blog
    From the National Federation of Independent Business (NFIB): Small Business Optimism Sees Third Month of Modest Gains The Index of Small Business Optimism rose seven-tenths of a point in June to 94.5 ... according to the National Federation of Independent Business' (NFIB) monthly economic survey released today. ... Fifty-six percent reported hiring or trying to hire (unchanged), but 48 percent reported few or no qualified applicants for the positions they were trying to fill. Fifteen percent of owners cited the difficulty of finding qualified workers as their Single Most Important Business Problem and the highest reading in this expansion . ... Twenty-nine percent of all owners reported job openings they could not fill in the current period, up 2 points, the highest reading in this expansion. emphasis added Click on graph for larger image. This graph shows the small business optimism index since 1986. The index increased to 94.5 in June.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 8:41 AM » Financial stability should not become Fed's third mandate: Mester
    Published Tue, Jul 12 2016 8:41 AM by Reuters
    SYDNEY (Reuters) - Maintaining stability in financial markets should not be an explicit goal for the Federal Reserve, which should use interest rates to head off a crisis only if more precise and better-suited tools fail, a top Fed official said on Tuesday.
  • Mon, Jul 11 2016
  • 5:10 PM » Here's where interest rates are headed based on seven Fed policy rules
    Published Mon, Jul 11 2016 5:10 PM by Market Watch
    Here is a look at the where seven Fed policy rules show interest rates heading over the next two years.
  • 3:13 PM » Fed moved markets even with its interest-rate tool stuck at zero, study says
    Published Mon, Jul 11 2016 3:13 PM by Market Watch
    Having short-term interest rates stuck at zero didn't limit the Federal Reserve's ability to move markets, according to a San Francisco Fed study published Monday.
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More From MND

Mortgage Rates:
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Recent Housing Data:
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  • Refinance Index 0.51%
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  • Purchase Index 0.38%