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  • Thu, Feb 9 2017
  • 11:11 AM » Mortgage Rates in Holding Pattern
    Published Thu, Feb 09 2017 11:11 AM by
    Mortgage Rates in Holding Pattern
    Click Here to Read the Full Article

  • 11:11 AM » Fed's Bullard says rates can remain low through 2017
    Published Thu, Feb 09 2017 11:11 AM by Reuters
    ST. LOUIS (Reuters) - U.S. interest rates can likely remain low through at least 2017, with no clear sense yet of whether the new Trump administration's policies will touch off higher inflation or growth, St. Louis Federal Reserve Bank President James Bullard said on Thursday.
  • 11:10 AM » Capitol Report: It's premature to worry about a currency war, IMF says
    Published Thu, Feb 09 2017 11:10 AM by Market Watch
    The International Monetary Fund said Thursday talk of a currency war is premature.
  • 11:10 AM » CFPB January 2017 complaint report highlights mortgage complaints
    Published Thu, Feb 09 2017 11:10 AM by
    Barbara S. Mishkin The CFPB has issued its January 2017 complaint report that highlights mortgage complaints. The report also highlights complaints from consumers in Tennessee and the Memphis and Nashville metro areas. General findings include the following: As of January 1, 2017, the CFPB handled approximately 1,080,700 complaints nationally, including approximately 22,900 complaints in December 2016. Debt collection... More >
    Click Here to Read the Full Article

  • 11:09 AM » More unmarried couples say 'I do' to a mortgage
    Published Thu, Feb 09 2017 11:09 AM by CNBC
    Zillow says more unmarried couples are diving into the real estate market. Here's how to protect your interest.
  • 8:46 AM » Trader Talk: 5 reasons for the mini-rally in bonds
    Published Thu, Feb 09 2017 8:46 AM by CNBC
    Bob Pisani finds the reasons behind the mini-rally in bonds and bond funds.
  • 8:46 AM » U.S. jobless claims drop to near 43-year low
    Published Thu, Feb 09 2017 8:46 AM by Reuters
    for unemployment benefits unexpectedly fell last week to near a
  • 8:44 AM » Housing advocacy needs a coordinated approach
    Published Thu, Feb 09 2017 8:44 AM by National Housing Conference
    by Chris Estes, National Housing Conference The affordable housing community must address the question of how we navigate federal housing policy when so many issues are in play: funding for HUD and USDA Rural Development programs; the impact of tax reform, particularly on the Low Income Housing Tax Credit and New Markets Tax Credit; reform of the flood insurance program with major implications for affordability and potential changes to regulations on lending rules, CRA, broadband and fair housing, just to name a few. Given this, NHC is working proactively to build relationships with the new administration, advocate for housing in the federal budget and provide resources members like you can use as you engage in this work yourself. Having been approved by the Senate Banking Committee, we now await the final vote to confirm Dr. Ben Carson as Secretary of Housing and Urban Development. This will allow appointments of the HUD senior leadership team to begin, giving the housing community a better sense of the direction of the agency under the new administration. A similar process is also in play at USDA as we wait to learn who will lead the Rural Development division. As NHC and the rest of the housing community establish relationships at HUD and USDA and learns more about agendas and priorities, we will also move into education and advocacy on the budget process itself. Coordinating our efforts will be key, as no single organization has the capacity work across all issues simultaneously. We believe the budget and in particular the budget caps for non-defense discretionary programs are the first place for us to focus. Right now the assumption is that the budget for non-defense discretionary programs (which include housing and other non-entitlement programs that support low and moderate income households) will face pressure if defense spending is increased. Previous bipartisan budget agreements held that if non-defense spending was cut, defense would be cut also and the same...
    Click Here to Read the Full Article

    Source: National Housing Conference
  • Wed, Feb 8 2017
  • 3:39 PM » Record $2 trillion of U.S. corporate debt comes due in the next 5 years
    Published Wed, Feb 08 2017 3:39 PM by Market Watch
    A record $2 trillion of U.S. corporate debt comes due in the next five years, Moody's Investors Service says. That's potentially challenging for industries with the heaviest debt loads, including telecom and energy, but is softened by relatively high credit ratings overall.
  • 1:35 PM » How Home Automation Can Increase Your Property Value
    Published Wed, Feb 08 2017 1:35 PM by
    Smart home features are not a passing fad. By 2020 more than 30 billion devices will be connected. The post How Home Automation Can Increase Your Property Value appeared first on Redfin Real-Time .
    Click Here to Read the Full Article

  • 12:08 PM » Exclusive: DOJ probing people who worked in DB's mortgage unit
    Published Wed, Feb 08 2017 12:08 PM by Reuters
    NEW YORK (IFR) - The US Department of Justice is investigating potential wrongdoing by individuals who worked in Deutsche Bank's mortgage unit in the run-up to the financial crisis, according to two sources familiar with the matter.
  • 12:08 PM » Lawler on Household Projections
    Published Wed, Feb 08 2017 12:08 PM by Calculated Risk Blog
    From housing economist Tom Lawler: Household Projections: New Population Estimates + New Administration = Time for an Update When the Census Bureau released its estimates for the U.S. population in December, most press coverage focused on which states saw the fastest population growth last year. What many missed, however, was that the Census Bureau significantly reduced its population estimates for each of the past several years, with the major reason for the downward revisions stemming from reduced estimates of net international migration. The latter reductions were the result up an updated methodology used to estimate foreign-born emigration, as discussed in the following excerpt from the 2016 vintage "release notes." "The Vintage 2016 net international migration estimates reflect the following changes to the methodology since the release of the Vintage 2015 estimates: "We updated the foreign-born emigration subcomponent in two ways: 1) we modified the emigrant group definitions used to calculate estimates of foreign-born emigration; 2) we applied averaged rates from multiple 5-year ACS files for non-recent arrivals (Mexican born who arrived more than 10 years ago, Asian born who arrived more than five years ago, and Non-Mexican born who arrived more than 10 years ago). These changes resolve negative rates produced by the previous residual method, which had resulted in zero emigration for certain emigrant groups. Consequently, foreign-born emigration will be higher and net international migration will be lower than the previous vintage." Here are some summary statistics on "Vintage 2016" population estimates (resident population" compared to "Vintage 2015" population estimates. I'm including Census projections for 2016 that had been based on Vintage 2015 estimates (used for CPS-based data for 2016) as well as a December 1, 2016 estimate based on Vintage 2016. U.S. Resident Population, Vintage 2015 vs. Vintage 2016...
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 9:34 AM » Here are the 10 hottest markets to make investors' landlord dreams come true
    Published Wed, Feb 08 2017 9:34 AM by CNBC
    Landlord alert: Seattle is hot, but not the hottest opportunity for home-rental investing.
  • 9:34 AM » BlackRock CEO Fink sees 'dark shadows' in markets
    Published Wed, Feb 08 2017 9:34 AM by Reuters
    NEW YORK (Reuters) - BlackRock CEO Larry Fink on Wednesday said he is more concerned about financial markets than the current consensus, as uncertainty over global trade and other issues has caused business leaders to slow down spending.
  • 9:24 AM » New Law Keeps Landlords From Hiking the Rent, and You'll Never Guess How
    Published Wed, Feb 08 2017 9:24 AM by
    Now in Portland, OR, tenants who have to move due to rent hikes get a strange consolation prize: The landlord must foot their moving costs. The post New Law Keeps Landlords From Hiking the Rent, and You’ll Never Guess How appeared first on Real Estate News & Advice |® .
    Click Here to Read the Full Article

  • 9:22 AM » If Trump and Congress 'botch' tax cuts, GOP could lose House, Republican Steve Forbes warns
    Published Wed, Feb 08 2017 9:22 AM by CNBC
    Trump and House Republicans need to get their pro-growth agenda moving, GOP stalwart Steve Forbes tells CNBC.
  • Tue, Feb 7 2017
  • 5:30 PM » Conventionally Financed New Home Sales Reach Nine-year High in 2016  
    Published Tue, Feb 07 2017 5:30 PM by
    NAHB analysis of the most recent Quarterly Sales by Price and Financing published by the Census Bureau reveals that 70.8% of new home sales in 2016 were financed with conventional products-up from the most recent trough of 58.5% in 2010. Conversely, over the same period, the share of new home sales financed with FHA mortgages has fallen from 25.1% to... Read More ›
    Click Here to Read the Full Article

  • 5:30 PM » Demand for Treasuries Is Now a 'Made in the USA' Phenomenon
    Published Tue, Feb 07 2017 5:30 PM by Bloomberg
    Bloomberg Demand for Treasuries Is Now a 'Made in the USA' Phenomenon Bloomberg In the world's biggest debt market, domestic purchasers have been faithfully fulfilling the first half of President Donald Trump's inauguration decree. Demand for U.S. Treasuries has moved "from global to local," Bank of America Merrill Lynch rates ...
  • 5:30 PM » Revamping Dodd-Frank is a 'this-year priority': U.S. Rep. Hensarling
    Published Tue, Feb 07 2017 5:30 PM by Reuters
    WASHINGTON (Reuters) - The chairman of the U.S. Financial Services Committee on Tuesday told CNBC that revamping the 2010 Dodd-Frank Wall Street reform law remains a "this-year priority" for President Donald Trump, Vice President Mike Pence and House Speaker Paul Ryan.
  • 3:48 PM » Economic Report: Consumer credit decelerates in December
    Published Tue, Feb 07 2017 3:48 PM by Market Watch
    Consumer credit rose $14.2 billion in December, the Federal Reserve said Tuesday, below Wall Street expectations of a $20 billion gain as households held off using credit cards for purchases
  • 3:27 PM » This is why the bond market is so darn cranky and it could get worse
    Published Tue, Feb 07 2017 3:27 PM by CNBC
    Bond traders are getting cranky with Washington, Europe and the Fed, all at the same time.
  • 3:24 PM » Housing Demand May Keep Market Afloat, Even if Rates Rise
    Published Tue, Feb 07 2017 3:24 PM by
    divanov/ShutterstockHow will the housing market handle rising rates? Ever since the November election, when the unexpected Trump victory sent bond yields flying and mortgage rates following closely behind, analysts have The post Housing Demand May Keep Market Afloat, Even if Rates Rise appeared first on Real Estate News & Advice |® .
    Click Here to Read the Full Article

  • 3:24 PM » Las Vegas Real Estate in January: Sales up 13.9% YoY, Inventory down Sharply
    Published Tue, Feb 07 2017 3:24 PM by Calculated Risk Blog
    This is a key distressed market to follow since Las Vegas has seen the largest price decline of any of the Case-Shiller composite 20 cities. The Greater Las Vegas Association of Realtors reported Southern Nevada Home Prices Rise to Start 2017, GLVAR Housing Statistics for January 2017 The Greater Las Vegas Association of REALTORS® (GLVAR) reported Tuesday that Southern Nevada home prices started 2017 with a relatively rare January jump while the number of homes available for sale continued to shrink. ... The total number of existing local homes, condos and townhomes sold in January was 2,675, up from 2,348 in January 2016 . Compared to one year ago, sales were up 14.1 percent for homes and up 13.2 percent for condos and townhomes. According to GLVAR, a total of 41,720 such properties were sold in 2016. That was more than the 38,577 properties sold during 2015. It was also more than in 2014, but fewer than during each of the previous five years. ... By the end of January, GLVAR reported 5,852 single-family homes listed for sale without any sort of offer. That's down 21.2 percent from one year ago . For condos and townhomes , the 811 properties listed without offers in January represented a 63.4 percent decrease from one year ago . ... In recent years, GLVAR has been reporting fewer distressed sales and more traditional home sales, where lenders are not controlling the transaction. That trend continued in January, when 4.2 percent of all local sales were short sales - which occur when lenders allow borrowers to sell a home for less than what they owe on the mortgage. That's down from 7.0 percent of all sales in January 2016. Another 6.8 percent of all January sales were bank-owned, down from 7.9 percent one year ago. emphasis added 1) Overall sales were up 13.9% year-over-year. 2) Active inventory (single-family and condos) is down sharply from a year ago (A very sharp decline in condo inventory). 3) Fewer distressed sales.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 1:42 PM » Kashkari Says Economy Still Needs Low Rates as Inflation Lags
    Published Tue, Feb 07 2017 1:42 PM by Bloomberg
    Bloomberg Kashkari Says Economy Still Needs Low Rates as Inflation Lags Bloomberg Federal Reserve Bank of Minneapolis President Neel Kashkari justified his vote last week to leave interest rates unchanged by saying inflation is in check and the U.S. job market seems to have more room to improve. "We are still coming up somewhat ... and more »
  • 1:40 PM » President Trump issues an executive order on core principles for regulating the financial system
    Published Tue, Feb 07 2017 1:40 PM by
    Peter N. Cubita On February 3, 2017, the President issued an Executive Order titled "Core Principles for Regulating the United States Financial System." The Executive Order is a high-level policy statement consisting of a series of Core Principles that are designed to inform the manner in which the Administration regulates the financial system. On March 6, 2017, Ballard... More >
    Click Here to Read the Full Article

  • 12:18 PM » The (Unintended?) Consequences of the Largest Liquidity Injection Ever
    Published Tue, Feb 07 2017 12:18 PM by Federal Reserve
    Matteo Crosignani, Miguel Faria-e-Castro, and Luís Fonseca | We study the design of lender of last resort interventions and show that the provision of long-term liquidity incentivizes purchases of high-yield short-term securities by banks. Using a unique security-level data set, we find that the European Central Bank's three-year Long-Term Refinancing Operation incentivized Portuguese banks to purchase short-term domestic government bonds that could be pledged to obtain central bank liquidity. This "collateral trade" effect is large, as banks purchased short-term bonds equivalent to 8.4% of amount outstanding. The resumption of public debt issuance is consistent with a strategic reaction of the debt agency to the observed yield curve steepening.
    Click Here to Read the Full Article

    Source: Federal Reserve
  • 10:45 AM » A Quiet Giant of Investing Weighs In on Trump
    Published Tue, Feb 07 2017 10:45 AM by CNBC
    He is the most successful and influential investor you have probably never heard of. His writings are so coveted and followed by Wall Street that a used copy of a book he wrote several decades ago about investing starts at $795 on Amazon, and a new copy sells for as much as $3,500.
  • 10:34 AM » Houses are the least affordable they've been in seven years: Here's why
    Published Tue, Feb 07 2017 10:34 AM by CNBC
    Rising mortgage rates, big jumps in home prices and moderate income growth are adding up to a triple threat for housing.
  • 10:33 AM » Monthly jobs openings — watched by Yellen — were little changed in December
    Published Tue, Feb 07 2017 10:33 AM by CNBC
    Economist expected job openings in December to hit 5.55 million, according to Thomson Reuters.
  • 10:00 AM » Bond Bear Market Is Still on Hold as Four Indicators Flash Green
    Published Tue, Feb 07 2017 10:00 AM by Bloomberg
    Bloomberg Bond Bear Market Is Still on Hold as Four Indicators Flash Green Bloomberg Bill Gross's threshold for calling the end of the three-decade Treasury bull market keeps slipping out of reach. The U.S. 10-year yield climbed to a two-year high of 2.60 percent in December, as assets around the world were buoyed by the reflation ... and more »
  • 10:00 AM » Here are the 25 best places to live in the U.S. in 2017
    Published Tue, Feb 07 2017 10:00 AM by CNBC
    These are the metro areas offering residents the most bang for their buck.
  • 8:54 AM » U.S. trade deficit falls as exports hit 1-1/2 year high
    Published Tue, Feb 07 2017 8:54 AM by Reuters
    WASHINGTON, Feb 7 - The U.S. trade deficit fell more than expected in December as exports rose to their highest level in more than 1-1/2 years, outpacing an increase in imports.
  • 8:54 AM » US Economic Confidence Index Hit New High in January
    Published Tue, Feb 07 2017 8:54 AM by
    Americans' confidence in the U.S. economy was higher in January than in any other month since 2008, with Gallup's Economic Confidence Index averaging +11.
    Click Here to Read the Full Article

  • 8:54 AM » Rosier Economic Sentiment Boosts Housing Attitudes
    Published Tue, Feb 07 2017 8:54 AM by Fannie Mae
    News Release. Share This: February 07, 2017. Rosier Economic Sentiment Boosts Housing Attitudes in January. Matthew Classick. 202-752-3662. ...
  • 8:28 AM » CoreLogic US Home Price Report Shows Prices Up 7.2 Percent in December 2016
    Published Tue, Feb 07 2017 8:28 AM by
    —Forecast Indicates Increase of 4.7 Percent by December 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 December 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 7.2 percent in December 2016 compared with December 2015 and increased month over month by 0.8 percent in December 2016 compared with November 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 December 2016 to December 2017, and on a month-over-month basis home prices are expected to increase by 0.1 percent from December 2016 to January 2017. 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. “As of the end of 2016, the CoreLogic national index was 3.9 percent below the peak reached in April 2006,” said Dr. Frank Nothaft, chief economist for CoreLogic. “We expect our national index to rise 4.7 percent during 2017, which would put homes prices at a new nominal peak before the end of this year.” “Last year ended with a bang with home prices up over 7 percent nationally, led largely by major metro areas,” said Anand Nallathambi, president and CEO of CoreLogic. “We expect prices to continue to rise just under 5 percent in 2017 buoyed by lack of supply and continued high demand.” Full-month December 2016 national data can be found at the  CoreLogic Home Price Insights  page. *November data was revised. Revisions with...
    Click Here to Read the Full Article

  • Mon, Feb 6 2017
  • 4:34 PM » U.S. Courts: Bankruptcy Filings Drop 6 Percent in 2016, Lowest since 2006
    Published Mon, Feb 06 2017 4:34 PM by Calculated Risk Blog
    From the U.S. Courts: Bankruptcy Filings Fall 5.9%, Reach Lowest Level Since 2006 During the 12-month period ending December 31, 2016, 794,960 cases were filed in federal bankruptcy courts, down from the 844,495 bankruptcy cases filed in calendar year 2015-a 5.9 percent drop in filings. This is the lowest number of bankruptcy filings for any calendar year since 2006, and the sixth consecutive calendar year that filings have fallen. However, it was the first calendar year since 2011 that the rate of annual decline was less than 10 percent. Click on graph for larger image. This graph shows the business and non-business bankruptcy filings by calendar year since 2001. The sharp decline in 2006 was due to the so-called "Bankruptcy Abuse Prevention and Consumer Protection Act of 2005". (a good example of Orwellian named legislation since this was more a "Lender Protection Act"). Other than 2006, this was the lowest level for filings since 1995. This is another indicator of an economy mostly recovered from the housing bust and financial crisis.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 4:34 PM » Treasuries Rise Following European Debt on French Election Risk
    Published Mon, Feb 06 2017 4:34 PM by Bloomberg
    Bloomberg Treasuries Rise Following European Debt on French Election Risk Bloomberg Treasuries gained, pushing 10-year yields to the lowest in about two weeks, amid bigger gains for German bunds and declines for European stocks driven by rising French election risk. The U.S. 10-year yield was lower by four basis points at 2.43 percent ... and more »
  • 2:42 PM » ECB sees seeds of next crisis in Trump deregulation plan
    Published Mon, Feb 06 2017 2:42 PM by Reuters
    FRANKFURT (Reuters) - The European Central Bank rejected U.S. accusations of currency manipulation on Monday and warned that deregulating the banking industry, now being openly discussed in Washington, could sow the seeds of the next financial crisis.
  • 2:41 PM » Reform goal: Show that bankers aren't the bad guys anymore
    Published Mon, Feb 06 2017 2:41 PM by CNBC
    President Donald Trump on Friday sent a message that he was removing the black hats from the heads of Wall Street CEOs.
  • 12:53 PM » The Economic Growth That Experts Can't Count
    Published Mon, Feb 06 2017 12:53 PM by
    A fixation on standard (and lately sluggish) measures of growth may obscure more profound advances in the nation's innovation and well-being.
    Click Here to Read the Full Article

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