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  • Thu, May 11 2017
  • 1:28 PM » Foreclosure Filings Hit Lowest Level Since Height of Housing Market
    Published Thu, May 11 2017 1:28 PM by www.realtor.com
    One in every 1,723 homes, or nearly 0.06%, received a foreclosure notice in April. In the worst of the recession, one in every 352 homes had one. The post Foreclosure Filings Hit Lowest Level Since Height of Housing Market appeared first on Real Estate News & Advice | realtor.com® .
    Click Here to Read the Full Article

    Source: www.realtor.com
  • 12:43 PM » US House tax committee sets first hearing on tax reform
    Published Thu, May 11 2017 12:43 PM by CNBC
    The House Ways and Means Committee on Thursday set a May hearing on the potential impact of tax reform on U.S. economic growth, the first of many expected.
  • 12:42 PM » Housing Affordability Registers Slight Uptick in First Quarter
    Published Thu, May 11 2017 12:42 PM by eyeonhousing.org
    Rising wages and moderating home prices offset a rise in mortgage interest rates to give housing affordability a slight boost in the first quarter of 2017, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI). In all, 60.3 percent of new and existing homes sold between the beginning of January and end of March were affordable... Read More ›
    Click Here to Read the Full Article

    Source: eyeonhousing.org
  • 10:36 AM » Dow threatens biggest one-day slide in about 7 weeks
    Published Thu, May 11 2017 10:36 AM by Market Watch
    The Doe Jones Industrial Average on Thursday was flirting with its steepest daily decline in four weeks, with losses for the price-weighted blue-chip gauge led by drops in shares of DuPont Inc. , Home Depot , and UnitedHealth Group . More than 20 of the Dow's 30 components were in negative territory pushing it down 143 points, or 0.7% at its low, putting it on pace for its worst daily drop since March 21, according to FactSet data. Market participants were attributing the slide to weakness in recent batch of corporate quarterly reports, including those of disappearing-message company Snap Inc. , which reported a $2.2 billion net loss late Wednesday. Meanwhile, the S&P 500 index was off 0.6%, while the Nasdaq Composite Index was down 0.7%, retreating from its record close on Wednesday.
  • 10:36 AM » Mortgage Rates Continue to Hold
    Published Thu, May 11 2017 10:36 AM by freddiemac.mwnewsroom.com
    Mortgage Rates Continue to Hold
    Click Here to Read the Full Article

    Source: freddiemac.mwnewsroom.com
  • 10:35 AM » Wells Fargo Forecasts Additional $2 Billion Cost Cuts by 2019
    Published Thu, May 11 2017 10:35 AM by Bloomberg
    Bloomberg Wells Fargo Forecasts Additional $2 Billion Cost Cuts by 2019 Bloomberg Wells Fargo & Co. said it would deepen its cost-cutting program, forecasting $4 billion in annual savings by the end of 2019. The previous plan called for saving $2 billion by the end of next year, according to a presentation on the San Francisco-based ...
  • 9:36 AM » Four signs it's time to hit the brakes on your home purchase
    Published Thu, May 11 2017 9:36 AM by CNBC
    The temperature is heating up and so are the pricing wars for housing. Here's how to figure out whether you ought to walk away from your dream abode.
  • 9:36 AM » U.S. stocks open lower; Snap tumbles following results
    Published Thu, May 11 2017 9:36 AM by Market Watch
    U.S. stocks opened modestly lower on Thursday, continuing a trend of tight trading ranges as the main equity benchmarks hover around record levels. The Dow Jones Industrial Average fell 42 points, 0.2%, to 20,904. The S&P 500 lost 6 points, or 0.3%, to 2,393. The Nasdaq Composite Index shed 19 points to 6,110, a decline of 0.3%. In the latest economic data, jobless claims fell by 2,000 in the latest week, while continuing claims dropped to their lowest level since November 1988. Among the most active stocks of the day was Snap Inc. which tumbled 23% a day after reporting a multibillion-dollar loss in its first quarter as a public company. Tech was among the weakest sectors of the day, down 0.4%. The only industry to rise was energy, which was up 0.3%.
  • 8:48 AM » In Trump's shadow, Fed official says trade barriers a 'dead end'
    Published Thu, May 11 2017 8:48 AM by Reuters
    MUMBAI/NEW YORK (Reuters) - Trade protectionism is a "dead end" that may score political points but will ultimately hurt the U.S. economy, one of the most influential Federal Reserve officials said on Thursday in the central bank's strongest defense yet of open borders in the face of a skeptical Trump Administration.
  • 8:47 AM » Louisiana Senate Passes Ban on Affordable Housing Mandates
    Published Thu, May 11 2017 8:47 AM by www.builderonline.com
    The bill encourages voluntary negotiations between developers and cities to create affordable housing in exchange for incentives such as tax breaks or zoning variances.
    Click Here to Read the Full Article

    Source: www.builderonline.com
  • 8:47 AM » U.S. jobless claims fall; continuing claims lowest since 1988
    Published Thu, May 11 2017 8:47 AM by Reuters
    WASHINGTON - New applications for U.S. jobless benefits unexpectedly fell last week and the number of Americans on unemployment rolls hit a 28-1/2-year low, pointing to a rapidly tightening labor market that could encourage the Federal Reserve to raise interest rates in June.
  • Wed, May 10 2017
  • 2:50 PM » Draghi Says Too Early to Declare ECB Success as Growth Firms
    Published Wed, May 10 2017 2:50 PM by Bloomberg
    Bloomberg Draghi Says Too Early to Declare ECB Success as Growth Firms Bloomberg European Central Bank President Mario Draghi said the economic recovery has now evolved from being fragile and uneven, into a firming, broad based upswing. He spoke at a question and answer session with Dutch lawmakers in The Hague. (Source: ... and more »
  • 2:49 PM » Boston's Real-Estate Market Is Poised for a Boom
    Published Wed, May 10 2017 2:49 PM by www.realtor.com
    GE is moving its headquarters to Boston from Fairfield, Conn. when roughly 14 million square feet of new space is being developed elsewhere in Boston. The post Boston's Real-Estate Market Is Poised for a Boom appeared first on Real Estate News & Advice | realtor.com® .
    Click Here to Read the Full Article

    Source: www.realtor.com
  • 2:49 PM » Fed's Kashkari: Keep Dodd-Frank regulations in place for big banks
    Published Wed, May 10 2017 2:49 PM by Reuters
    WASHINGTON (Reuters) - Minneapolis Federal Reserve Bank President Neel Kashkari said on Wednesday that there should not be any relaxation of regulations that have tightened oversight of Wall Street.
  • 1:53 PM » Fed's Rosengren Favors Three More 2017 Hikes to Foil Overheating - Bloomberg
    Published Wed, May 10 2017 1:53 PM by Bloomberg
    Bloomberg Fed's Rosengren Favors Three More 2017 Hikes to Foil Overheating Bloomberg Federal Reserve Bank of Boston President Eric Rosengren urged his policy-making colleagues to raise interest rates three more times this year and consider starting to shrink the central bank's balance sheet after their next hike to avoid creating an ... and more »
  • 11:52 AM » Three Years Ago: Housing Doom and Gloom
    Published Wed, May 10 2017 11:52 AM by Calculated Risk Blog
    Three years ago, there were numerous "doom and gloom" stories about housing. I responded with What's Right with Housing? written on May 6, 2014. I wrote: The first mistake these writers make is they are asking the wrong question . Of course housing is lagging the recovery because of the residual effects of the housing bust and financial crisis (this lag was predicted on this blog and elsewhere for years - it should not be a surprise). The correct question is: What's right with housing? And there is plenty. ... Housing is a slow moving market - and the recovery will not be smooth or fast with all the residual problems. But overall housing is clearly improving and the outlook remains positive for the next few years. What has happened since? Housing starts are up 25% from March 2014 to March 2017. New home sales are up 50% from March 2014 to March 2017. Existing home sales are up 21%. House prices are up 15% (Case-Shiller National Index February 2014 to February 2017). Some day I'll be bearish again on housing, but not yet.  Clearly those bearish on housing in 2014 were wrong.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 10:21 AM » Treasury yields slip as traders turn attention to geopolitical uncertainty
    Published Wed, May 10 2017 10:21 AM by Market Watch
    Treasury yields fell across the curve as geopolitical concerns flashed after the White House dismissed FBI director James Comey and North Korea said it would go ahead with its sixth nuclear test.
  • 8:45 AM » Import prices increase for fifth straight month
    Published Wed, May 10 2017 8:45 AM by CNBC
    Prices increased more than expected in April amid rising costs for petroleum products and a range of other goods, which could help boost domestic inflation.
  • 8:38 AM » US Treasurys higher as bond investors digest Comey dismissal; Fed speeches eyed
    Published Wed, May 10 2017 8:38 AM by CNBC
    U.S. government debt prices were higher Wednesday, as investors digested the news that the director of the FBI had been dismissed on Tuesday.
  • 8:38 AM » Bond Traders Ramp Up Bets on September for a Third 2017 Fed Hike - Bloomberg
    Published Wed, May 10 2017 8:38 AM by Bloomberg
    Bloomberg Bond Traders Ramp Up Bets on September for a Third 2017 Fed Hike Bloomberg Traders are already mostly on board with the central bank raising rates at its June meeting, pricing in odds of a hike at almost 80 percent, judging by the current effective fed funds rate and the forward overnight index swap rate. But they're also ... and more »
  • Tue, May 9 2017
  • 5:43 PM » Fed Won't Sink MBS Market as Balance Sheet Slims, Rosengren Says
    Published Tue, May 09 2017 5:43 PM by Bloomberg
    Bloomberg Fed Won't Sink MBS Market as Balance Sheet Slims, Rosengren Says Bloomberg Tapering of the Federal Reserve's balance sheet won't sink the mortgage-backed securities market, said Boston Fed President Eric Rosengren, though prices may have to adjust to tempt investors into buying bonds currently being sucked up by the central ... and more »
  • 2:46 PM » Tips for Millennials Who Want to Invest in Real Estate
    Published Tue, May 09 2017 2:46 PM by www.redfin.com
    There are a variety of ways that Millennials can start investing in real estate and many young people are taking different routes depending on their job situation, financial history, credit score, etc The post Tips for Millennials Who Want to Invest in Real Estate appeared first on Redfin Real-Time .
    Click Here to Read the Full Article

    Source: www.redfin.com
  • 2:46 PM » Affordable Housing Program Costs More, Shelters Less
    Published Tue, May 09 2017 2:46 PM by www.npr.org
    The Low-Income Tax Credit program gave way to a booming $8 billion private industry, but as tax credits for companies increased, the number of housing units being built for the poor fell.
  • 2:44 PM » Fed's Rosengren Warns GSE Reform Could Threaten Property Market
    Published Tue, May 09 2017 2:44 PM by Bloomberg
    Bloomberg Fed's Rosengren Warns GSE Reform Could Threaten Property Market Bloomberg Plans by Republican lawmakers and the Trump administration to reform government-backed mortgage companies could lead to a "significant shock" to the market for multi-family commercial real estate, said Federal Reserve Bank of Boston President Eric ... and more »
  • 2:44 PM » Your real estate decisions could also affect your mental health, studies show
    Published Tue, May 09 2017 2:44 PM by CNBC
    Beyond real estate, your home location could influence your mental health, U.S. News reports.
  • 12:40 PM » How Homeownership Became the Engine of American Inequality
    Published Tue, May 09 2017 12:40 PM by www.nytimes.com
    An enormous entitlement in the tax code props up home prices - and overwhelmingly benefits the wealthy and the upper middle class.
    Click Here to Read the Full Article

    Source: www.nytimes.com
  • 12:33 PM » Construction Sector Labor Market Turnover
    Published Tue, May 09 2017 12:33 PM by eyeonhousing.org
    The count of unfilled jobs in the construction sector fell slightly in March, after an upward revision to the February estimate. Moreover, the rate of quits is rising as tight labor market conditions continue. According to the BLS Job Openings and Labor Turnover Survey (JOLTS) and NAHB analysis, the number of open construction sector jobs (on a seasonally adjusted basis) stood at 172,000 in March. The... Read More ›
    Click Here to Read the Full Article

    Source: eyeonhousing.org
  • 12:32 PM » Chase is offering 100,000 credit-card rewards points for new mortgage customers
    Published Tue, May 09 2017 12:32 PM by Market Watch
    The bank is trying to make money off millennial Sapphire credit card holders.
  • 12:31 PM » Home Capital Sells $1.1 Billion in Mortgages to Third Party
    Published Tue, May 09 2017 12:31 PM by Bloomberg
    Bloomberg Home Capital Sells $1.1 Billion in Mortgages to Third Party Bloomberg Home Capital Group Inc. agreed to sell as much as C$1.5 billion ($1.1 billion) worth of mortgages and loan renewals to an unidentified buyer as the struggling Canadian lender looks for ways to shore up its balance sheet and restore investor confidence. and more »
  • 9:48 AM » Good luck buying a home in this hot housing market
    Published Tue, May 09 2017 9:48 AM by CNN
    It's going to be a tough house hunting season for buyers, but it's particularly brutal for those in Seattle.
  • 9:46 AM » Italian Bonds May Be Traders' Next Obsession After French Vote
    Published Tue, May 09 2017 9:46 AM by Bloomberg
    Bloomberg Italian Bonds May Be Traders' Next Obsession After French Vote Bloomberg After months of fretting about France, the market is wasting no time in finding a new obsession -- and this time Italy is finding itself in the crosshairs. The nation's 10-year bond yields have already climbed by about 10 basis points since Emmanuel ... and more »
  • 9:45 AM » S&P 500, Nasdaq open jump to intraday records on upbeat earnings
    Published Tue, May 09 2017 9:45 AM by Market Watch
    U.S. stocks on Tuesday opened at or near record levels as investors appeared heartened by upbeat earnings reports and the easing of some of the market's near-term worries. The Dow Jones Industrial Average traded 22 points, or less than 0.1%, at 21,1033, the S&P 500 index gained about 3 points, or 0.1%, at 2,401, briefly eclipsing its intraday record of 2,401.36 set on Monday, while the Nasdaq Composite Index climbed 7 points, or 0.2%, at 6,116-a new intraday record for the tech-heavy index. A measure of market volatility, the CBOE Volatility Index , fell to a roughly 23-year low on Monday and threatened to hit its lowest level in history, according to FactSet. The VIX has been closely followed because it implies to some market participants that investors may be getting too complacent about the possibility of sharp dives in equities, after a monthslong rise that has taken them to repeated record levels. Meanwhile, the 10-year Treasury note yield [BX: TMUBMUSD10Y], which moves inversely to price, was at 2.40%, around the highest level in weeks for the benchmark bond. Shares of Office Depot Inc. , Valeant Pharmaceuticals International Inc. and Marriott International Inc. were all trading higher after reporting better-than-expected quarterly results. Moves for the markets come after one big geopolitical overhang subsided over the weekend, with the French presidency won by Emmanuel Macron, viewed as a pro-market candidate.
  • 8:33 AM » Latest CoreLogic Analysis Shows US Mortgage Loan Performance Health Continues to Strengthen
    Published Tue, May 09 2017 8:33 AM by www.corelogic.com
    The Delinquency Rate Decreased 0.5 Percentage Points Year Over Year The Foreclosure Rate for February Was 0.8 Percent Early-Stage Delinquencies Remained Steady in February CoreLogic ® (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, today released its monthly Loan Performance Insights Report which shows that, nationally, 5 percent of mortgages were delinquent by 30 days or more (including those in foreclosure) in February 2017. This represents a 0.5 percentage point decline in the overall delinquency rate compared with February 2016 when it was 5.5 percent. As of February 2017, the foreclosure inventory rate, which measures the share of mortgages in some stage of the foreclosure process, was 0.8 percent compared with 1.1 percent in February 2016. The serious delinquency rate, defined as 90 days or more past due including loans in foreclosure, was 2.2 percent in February 2017, down from 2.8 percent in February 2016. Measuring early-stage delinquency rates is important for analyzing the health of the mortgage market. To more comprehensively monitor mortgage performance, CoreLogic examines all stages of delinquency as well as transition rates that indicate the percent of mortgages moving from one stage of delinquency to the next. Early-stage delinquencies, defined as 30-59 days past due, were trending slightly higher in February 2017 at 2.14 percent compared with 2.08 percent in February 2016, an increase of 0.06 percent year over year. The share of mortgages that were 60-89 days past due in February 2017 was 0.7 percent, unchanged from a year earlier. Since early-stage delinquencies can be volatile, CoreLogic also analyzes transition rates. The share of mortgages that transitioned from current to 30-days past due was 1 percent in February 2017, up from 0.8 percent in February 2016. By comparison, in January 2007, just before the start of the financial crisis, the current to 30-day transition rate was 1.2...
    Click Here to Read the Full Article

    Source: www.corelogic.com
  • 8:31 AM » Fannie-Freddie Look to Provide Financing for Manufactured Homes
    Published Tue, May 09 2017 8:31 AM by Bloomberg
    Bloomberg Fannie-Freddie Look to Provide Financing for Manufactured Homes Bloomberg Fannie Mae and Freddie Mac may soon begin to provide financing for buyers of manufactured homes, according to draft plans released on Monday. The move is part of an effort by the mortgage-finance giants to ease burdens on low-income borrowers, many ... and more »
  • Mon, May 8 2017
  • 4:39 PM » Wall Street needs to stop freaking out about low volatility, Merrill says
    Published Mon, May 08 2017 4:39 PM by CNBC
    Bank of America Merrill Lynch had a message for investors concerned about how calm the stock market is: Relax.
  • 4:38 PM » Leading Index for Commercial Real Estate Decreases in April
    Published Mon, May 08 2017 4:38 PM by Calculated Risk Blog
    Note: This index is a leading indicator for new non-residential Commercial Real Estate (CRE) investment, except manufacturing. From Dodge Data Analytics: Dodge Momentum Index Loses Steam in April The Dodge Momentum Index fell 5.1% in April to 133.8 (2000=100) from its revised March reading of 140.9. The Momentum Index is a monthly measure of the first (or initial) report for nonresidential building projects in planning, which have been shown to lead construction spending for nonresidential buildings by a full year. April's decline was due to a 12.0% drop for the institutional component of the Momentum Index, while the commercial component rose a meager 0.1%. Since early 2016, the Momentum Index has gained substantial ground, albeit in a saw-tooth pattern, increasing by over 20% through March this year. Despite April's decline, the broad upward trend for the Momentum Index remains present, suggesting that construction activity still has further room to grow in 2017. The planning data's strengthening over the past year stands in stark contrast to the 2014-2015 period, when the Momentum Index saw little improvement, gaining just 4.0% in that 24-month span. emphasis added Click on graph for larger image. This graph shows the Dodge Momentum Index since 2002. The index was at 133.8 in April, down from 140.9 in March. The index is still up solidly year-over-year. According to Dodge, this index leads "construction spending for nonresidential buildings by a full year". This suggests further increases in CRE spending over the next year.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 4:38 PM » Despite Higher Home Prices, More Americans Say It's a Good Time to Buy
    Published Mon, May 08 2017 4:38 PM by www.realtor.com
    Home prices are steadily rising, and mortgage interest rates are beginning to inch up again. But that doesn't seem to be discouraging many potential buyers. The post Despite Higher Home Prices, More Americans Say It’s a Good Time to Buy appeared first on Real Estate News & Advice | realtor.com® .
    Click Here to Read the Full Article

    Source: www.realtor.com
  • 4:37 PM » CFPB seeks comments on its plan to assess the RESPA mortgage servicing rule
    Published Mon, May 08 2017 4:37 PM by www.consumerfinancemonitor.com
    On May 4, the CFPB announced that as part of its impending 5-year review of mortgage rules, it was proposing a plan to assess the effectiveness of the Real Estate Settlement Procedures Act (RESPA) mortgage servicing rule. The proposed assessment plan focuses on the 2013 RESPA Servicing Final Rule, which was issued in January 2013... Continue Reading
    Click Here to Read the Full Article

    Source: www.consumerfinancemonitor.com
  • 2:47 PM » Fannie Mae Submits Duty to Serve Underserved Markets Plan ...
    Published Mon, May 08 2017 2:47 PM by Fannie Mae
    News Release. Share This: May 08, 2017. Fannie Mae Submits Duty to Serve Underserved Markets Plan for Public Comment. Alicia Jones. ...
  • 1:27 PM » Phoenix Real Estate in April: Sales up 10%, Inventory down 9% YoY
    Published Mon, May 08 2017 1:27 PM by Calculated Risk Blog
    This is a key housing market to follow since Phoenix saw a large bubble and bust, followed by strong investor buying. The Arizona Regional Multiple Listing Service (ARMLS) reports (table below): 1) Overall sales in April were up 10.3% year-over-year. 2) Cash Sales (frequently investors) were at 23.9% of total sales. 3) Active inventory is now down 8.7% year-over-year.   More inventory (a theme in most of 2014) - and less investor buying - suggested price increases would slow sharply in 2014.  And prices increases did slow in 2014, only increasing 2.4% according to Case-Shiller. In 2015, with falling inventory, prices increased a little faster.  Prices were up 6.3% in 2015 according to Case-Shiller. With flat inventory in 2016, prices were up 4.8%. This is the sixth consecutive month with a YoY decrease in inventory following eight months with YoY increases. April Residential Sales and Inventory, Greater Phoenix Area, ARMLS Sales YoY Change Sales Cash Percent Cash Inventory YoY Change Apr-08 4,875 1 --- 986 20.2% 55,726 1 --- Apr-09 8,564 75.7% 3,464 40.4% 44,165 -20.7% Apr-10 9,261 8.1% 3,641 39.3% 41,756 -5.5% Apr-11 9,328 0.7% 4,489 48.1% 34,515 -17.3% Apr-12 8,438 -9.5% 4,013 47.6% 21,125 -38.8% Apr-13 8,744 3.6% 3,670 42.0% 20,083 -4.9% Apr-14 7,656 -12.4% 2,469 32.2% 29,889 48.8% Apr-15 8,368 9.3% 2,120 25.3% 25,950 -13.2% Apr-16 8,437 0.8% 2,008 23.8% 27,232 4.9% Apr-17 9,304 10.3% 2,226 23.9% 24,871 -8.7% 1 April 2008 does not include manufactured homes, ~100 more
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
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Mortgage Rates:
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  • 15 Yr FRM 3.28%
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  • Jumbo 30 Year Fixed 4.30%
MBS Prices:
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  • 30YR FNMA 5.0 109-29 (0-02)
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Recent Housing Data:
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  • Purchase Index -0.82%