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  • Tue, Nov 11 2014
  • 10:54 PM » Reverse mortgages: Are they worth it?
    Published Tue, Nov 11 2014 10:54 PM by CNN
    I've seen a lot of commercials on TV about reverse mortgages. How do they work and who should consider a reverse mortgage, if anyone? -- Judith Y., New York
  • 3:59 PM » Easier mortgage rules, stable rates bring back U.S. home buyers
    Published Tue, Nov 11 2014 3:59 PM by Reuters
    (Reuters) - Many U.S. home buyers are returning to the market after almost a year as interest rates stabilize and regulators propose more relaxed rules on mortgage lending.
  • 3:59 PM » Why more soldiers aren't using VA loans to buy a home
    Published Tue, Nov 11 2014 3:59 PM by Market Watch
    VA loans are supposed to make it easier for veterans to buy homes, but the program's red tape and other issues have crimped efforts to bring troops "home."
  • 11:42 AM » The 3 most expensive third-quarter home sales
    Published Tue, Nov 11 2014 11:42 AM by CNBC
    Even as the broader real estate market softened, luxury home sales surged in the third quarter, according to Redfin.
  • 11:24 AM » Housing Update: It Appears Inventory build is Slowing in Previous Distressed Markets
    Published Tue, Nov 11 2014 11:24 AM by Calculated Risk Blog
    Note: This is an update to an earlier post. Watching existing home "for sale" inventory is very helpful. As an example, the increase in inventory in late 2005 helped me call the top for housing. And the decrease in inventory eventually helped me correctly call the bottom for house prices in early 2012, see: The Housing Bottom is Here . And at the beginning of this year I argued house price increases would slow in 2014 because of the increase in inventory. I don't have a crystal ball, but watching inventory helps understand the housing market.   If inventory kept increasing rapidly in certain markets, then we would eventually see price declines.  However it now appears the inventory build is slowing in some former distressed markets.   The table below shows the year-over-year change for non-contingent inventory in Las Vegas, Phoenix and Sacramento.  Inventory declined sharply through early 2013, and then inventory started increasing sharply year-over-year. It now appears the inventory build is slowing in these markets - and might even flatten or decline year-over-year soon in Las Vegas and Phoenix . This makes sense.  Prices increased rapidly in these markets in 2012 and 2013 (bouncing off the bottom with low inventory).  Higher prices attracted more people to list their homes.  But now that prices have flattened out - and there is plenty of inventory - potential sellers aren't as motivated to list their homes.  Unlike following the housing bubble, most of these potential sellers probably don't need to sell, so listings will not grow to the moon! I still expect overall nationwide inventory to continue to increase, but this is something to watch. Year-over-year Change in Active Inventory Month Las Vegas Phoenix Sacramento Jan-13 -58.3% -11.7% -61.1% Feb-13 -53.4% -8.5% -51.1% Mar-13 -42.1% -5.2% -37.8% Apr-13 -24.1% -4.9% -10.3% May-13 -13.2% -2.1% 5.3% Jun-13 3.7% -1.6% 18.3...
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 11:24 AM » Rosengren: Fed Should Remain ‘Patient' on Rates Until Inflation Begins to Rise
    Published Tue, Nov 11 2014 11:24 AM by WSJ
    Federal Reserve Bank of Boston President Eric Rosengren said Monday the U.S. central bank should refrain from raising short-term term interest rates until there is "stronger evidence" price pressures are beginning to rise.
  • 11:22 AM » D.R. Horton Fourth-Quarter Profit Misses Estimates - Bloomberg
    Published Tue, Nov 11 2014 11:22 AM by Bloomberg
    D.R. Horton Fourth-Quarter Profit Misses Estimates Bloomberg D.R. Horton Inc. (DHI), the largest U.S. homebuilder by revenue, reported fiscal fourth-quarter earnings that missed analysts' estimates. Net income was $166.3 million, or 45 cents a share, for the three months ended Sept. 30, compared with $139.5 million, ... and more »
  • 11:21 AM » Fed's Charles Plosser: There are many indicators that tell us rates are too low
    Published Tue, Nov 11 2014 11:21 AM by CNBC
    Please check back for further updates..
  • 11:20 AM » Full housing recovery delayed 'til 2018: Survey
    Published Tue, Nov 11 2014 11:20 AM by CNBC
    Home values may not exceed their prerecession levels until 2018, according to a Zillow survey of 100 experts.
  • Mon, Nov 10 2014
  • 3:57 PM » 4 charts that expose the invisible side of homelessness
    Published Mon, Nov 10 2014 3:57 PM by www.aei.org
    It's easy to stick to the guided tour when it comes to understanding homelessness. Whether it's a viral video of homeless people holding up cardboard signs or an act of generosity caught on camera, it's tempting to quickly move on to the next cause without digging deeper. The federal government recently reported a nationwide 7% reduction in homelessness since 2011. Instead of seeing this number and walking on by, it's time to break off from the guided tour.
  • 3:55 PM » Subprime credit card lending swells
    Published Mon, Nov 10 2014 3:55 PM by CNBC
    Credit card companies are boosting lending to people with dinged credit, though some are bracing for more bad debts
  • 2:59 PM » Builder Confidence in the 55+ Housing Market Shows Strong Growth in Third Quarter
    Published Mon, Nov 10 2014 2:59 PM by NAHB
    Press Release
  • 2:04 PM » Today's Financial Market Risk-Taking Looks a Lot Like 2006
    Published Mon, Nov 10 2014 2:04 PM by WSJ
    Is the global economy experiencing pre-crisis déjà vu? Almost, the International Monetary Fund's top financial adviser said recently.
  • 1:26 PM » Does Slower Growth Imply Lower Interest Rates?
    Published Mon, Nov 10 2014 1:26 PM by www.frbsf.org
    Over the past two years, both monetary and fiscal policy projections have been based on the view that declines in the long-run potential growth rate of the economy will in turn push down interest rates. In contrast, examination of private-sector professional forecasts and historical data provides little evidence of such a linkage. This suggests a greater risk that future interest rates may be higher than expected.
    Click Here to Read the Full Article

    Source: www.frbsf.org
  • 1:24 PM » Fed Economists Say Long-Term Rates May Exceed Forecasts - Bloomberg
    Published Mon, Nov 10 2014 1:24 PM by Bloomberg
    Fed Economists Say Long-Term Rates May Exceed Forecasts Bloomberg The U.S. economy faces a risk that long-term interest rates may be higher than forecast because policy makers may be mistakenly linking the outlook with a reduction in the long-term trend for growth, according to Federal Reserve Bank of San Francisco ...
  • 11:00 AM » Fed's Labor Market Conditions Index Strengthens in October - Bloomberg
    Published Mon, Nov 10 2014 11:00 AM by Bloomberg
    Fed's Labor Market Conditions Index Strengthens in October Bloomberg A Federal Reserve benchmark showed the U.S. labor market improved in October. The Labor Market Conditions Index, derived from 19 indicators, rose by 4.0 points last month after gaining a revised 4.0 in September, according to data released today by the ... and more »
  • 10:54 AM » FNC: Residential Property Values increased 6.3% year-over-year in September
    Published Mon, Nov 10 2014 10:54 AM by Calculated Risk Blog
    In addition to Case-Shiller, and CoreLogic, I'm also watching the FNC, Zillow and several other house price indexes. FNC released their September index data today.  FNC reported that their Residential Price Index™ (RPI) indicates that U.S. residential property values decreased 0.3% from August to September (Composite 100 index, not seasonally adjusted). The other RPIs (10-MSA, 20-MSA, 30-MSA) decreased between 0.4% and 1.0% in September. These indexes are not seasonally adjusted (NSA), and are for non-distressed home sales (excluding foreclosure auction sales, REO sales, and short sales). Notes: In addition to the composite indexes, FNC presents price indexes for 30 MSAs. FNC also provides seasonally adjusted data. The year-over-year (YoY) change was lower in September than in August, with the 100-MSA composite up 6.3% compared to September 2013.   In general, for FNC, the YoY increase has been slowing since peaking in February at 9.3%. The index is still down 19.3% from the peak in 2006. Click on graph for larger image. This graph shows the year-over-year change based on the FNC index (four composites) through September 2014. The FNC indexes are hedonic price indexes using a blend of sold homes and real-time appraisals. All of the price indexes had been showing a slowdown in price increases. The September Case-Shiller index will be released on Tuesday, November 25th, and I expect Case-Shiller to show a further slowdown in YoY price increases.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 8:43 AM » More refinancing borrowers cash out home equity
    Published Mon, Nov 10 2014 8:43 AM by Market Watch
    As home values have increased and mortgage rates have remained low, it appears that more borrowers are now tapping their home equity through refinancing - a way, perhaps, to use home equity to pay down higher-interest loan debt or fund home renovations.
  • 8:42 AM » Toll Brothers sells more homes at higher prices
    Published Mon, Nov 10 2014 8:42 AM by Reuters
    (Reuters) - Toll Brothers Inc , the largest U.S. luxury homebuilder, reported a 29 percent jump in quarterly revenue after it sold more homes at higher prices as housing demand strengthened.
  • Sun, Nov 9 2014
  • 10:32 PM » State Marijuana Laws Don't Protect Your Property
    Published Sun, Nov 09 2014 10:32 PM by Realtor.Org
    Here’s the thing about marijuana laws: Federal trumps state. So even though 23 states and the District of Columbia have legalized medicinal pot use - and four states have OK’d recreational use - the federal government still says marijuana is illegal. That means landlords and property managers in legal-pot states shouldn’t feel completely safe allowing […]
  • 10:31 PM » Any Positive News a Boon for Detroit Housing Market
    Published Sun, Nov 09 2014 10:31 PM by WSJ
    Detroit's exit from bankruptcy wouldn't herald an immediate boon for the beleaguered metro area's housing market, but it least signals a step in a better direction. A federal judge approved Detroit's bankruptcy plan Friday.
  • 10:30 PM » Who's Afraid of Fed Raising Rates? Not These U.S. Bond Investors - Bloomberg
    Published Sun, Nov 09 2014 10:30 PM by Bloomberg
    Who's Afraid of Fed Raising Rates? Not These U.S. Bond Investors Bloomberg For all the talk that U.S. Treasuries will tumble once the Federal Reserve starts to raise interest rates, investors in the longest-dated debt securities are finding little cause for concern. Government bonds due in 30 years, the most vulnerable to losses when ...
  • 10:29 PM » The Impact of Missed Payments and Foreclosures on Credit Scores
    Published Sun, Nov 09 2014 10:29 PM by The Big Picture
    The Impact of Missed Payments and Foreclosures on Credit Scores<br/>http://feedproxy.google.com/~r/TheBigPicture/~3/iD6WIYAbR-I/
    Click Here to Read the Full Article

    Source: The Big Picture
  • 10:29 PM » Update: 2015 Housing Forecasts
    Published Sun, Nov 09 2014 10:29 PM by Calculated Risk Blog
    Towards the end of each year I collect some housing forecasts for the following year, and it looks like most analysts are optimistic for 2015. The NAR released their forecast yesterday: Home Sales Expected to Improve in 2015, but Some Headwinds Still Remain [Lawrence Yun, chief economist of the National Association of Realtors®] expects the national median existing-home price to rise 4 percent both next year and in 2016. ... Housing starts are forecast to hit 1 million this year and reach 1.3 million in 2015, which is still below the underlying demand of about 1.5 million, but should gradually normalize as lenders open their credit box more to builders. New-home sales are likely to total 440,000 in 2014, and increase to 620,000 next year. Note: Wells Fargo updated their forecast (slight changes). Here is a summary of forecasts for 2014 . In 2014, new home sales will be around 440 thousand, and total housing starts will be close to 1 million.  No one was close on New Home sales (all way too optimistic), and Michelle Meyer (Merrill Lynch) and Fannie Mae were the closest on housing starts (about 10% too high). In 2014, many analysts underestimated the impact of higher mortgage rates and higher new home prices on new home sales and starts. Note: Here is a summary of forecasts for 2013 . In 2013, new home sales were 429 thousand, and total housing starts were 925 thousand.  Barclays were the closest on New Home sales followed by David Crowe (NAHB).  Fannie Mae and the NAHB were the closest on housing starts. The table below shows a few forecasts for 2015 (I'll update these in further in December). From Fannie Mae: Housing Forecast: October 2014 From NAHB: Single-Family Production Poised to Take Off in 2015 I don't have Moody's Analytics' forecast, but Mark Zandi, chief economist at Moody's Analytics said today "that single-family starts could be closing in on 1 million units by the...
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 10:29 PM » BofA, US Bancorp Settle Mortgage-Bond Suit for $69 Million - Bloomberg
    Published Sun, Nov 09 2014 10:29 PM by Bloomberg
    BofA, US Bancorp Settle Mortgage-Bond Suit for $69 Million Bloomberg Bank of America Corp. and US Bancorp (USB) agreed to pay $69 million to settle a lawsuit with investors who said the banks failed to protect them in their role as trustees for securities backed by Washington Mutual Inc. home mortgages. The investors, led by ...
  • Fri, Nov 7 2014
  • 4:28 PM » Atlanta Fed Jobs Calculator Suggests Full Employment By Spring Possible
    Published Fri, Nov 07 2014 4:28 PM by WSJ
    It may not take much more to get to the labor market's promised land, an improvement that could alter the debate over when the Federal Reserve starts raising interest rates.
  • 4:27 PM » Rich people are splurging on million-dollar homes again. Here's why.
    Published Fri, Nov 07 2014 4:27 PM by Washington Post
    Want to get a good rate on a new mortgage? Two tips: Be wealthy, and borrow more. For the first time in recent memory, lenders are offering well-heeled buyers large "jumbo" mortgages at the same - or even better - interest rates as smaller loans. The trend is helping fuel a resurgence at the high end of the real estate market. Sales of homes priced $1 million or more are soaring as lower-priced properties lag, accentuating the uneven nature of the economic recovery. Read full article >>
    Click Here to Read the Full Article

    Source: Washington Post
  • 3:59 PM » Realtors More Bullish On New Home Sales Than Builders
    Published Fri, Nov 07 2014 3:59 PM by WSJ
    Lawrence Yun, the National Association of Realtor's chief economist, is optimistic about the new home market-even more so than home builders.
  • 3:00 PM » 5 Takeaways From the October Jobs Report
    Published Fri, Nov 07 2014 3:00 PM by WSJ
    The October employment report might not have been as flashy as some economists had hoped, but the solid data largely fell in the positive column for the economic outlook.
  • 2:58 PM » Fed's Kocherlakota: Expects Low Interest Rates Potentially For ‘Many' Years
    Published Fri, Nov 07 2014 2:58 PM by WSJ
    Federal Reserve Bank of Minneapolis President Narayana Kocherlakota said Friday very low interest rates will likely persist in the U.S. for a long time to come.
  • 1:14 PM » Behind the unusual activity in Beazer Homes
    Published Fri, Nov 07 2014 1:14 PM by CNBC
    What's behind the big bet that Beazer shares will get chopped in half?
  • 1:11 PM » The bond market is still feeling liquidity fears
    Published Fri, Nov 07 2014 1:11 PM by CNBC
    The market turmoil of mid-October seems all but forgotten now, but the worries over similar recurring events remain.
  • 11:49 AM » News Release - Americans' Personal Finance Sentiment ...
    Published Fri, Nov 07 2014 11:49 AM by Fannie Mae
    Results from Fannie Mae's October 2014 National Housing Survey show Americans' optimism about the housing market continued its gradual climb ...
  • 11:47 AM » Buyers of houses priced at the high end are seeing attractive mortgage rates
    Published Fri, Nov 07 2014 11:47 AM by Washington Post
    Want to get a good rate on a new mortgage? Two tips: Be wealthy, and borrow more. For the first time in recent memory, lenders are offering well-heeled buyers large "jumbo" mortgages at the same - or even better - interest rates as smaller loans. The trend is helping fuel a resurgence at the high end of the real estate market. Sales of homes priced $1 million or more are soaring as lower-priced properties lag, accentuating the uneven nature of the economic recovery. Read full article >>
    Click Here to Read the Full Article

    Source: Washington Post
  • 11:01 AM » JPMorgan Sees 3000 More Job Cuts in Card, Mortgage Units - Bloomberg
    Published Fri, Nov 07 2014 11:01 AM by Bloomberg
    JPMorgan Sees 3000 More Job Cuts in Card, Mortgage Units Bloomberg JPMorgan Chase & Co., the biggest U.S. bank, said it's on track to eliminate 3,000 more jobs this year than previously forecast in its mortgage and credit-card divisions. The company expects 4,000 job cuts in its card, merchant-services and auto unit, up from ...
  • 11:00 AM » Yellen Supports Bond Buying to European Central Bankers - Bloomberg
    Published Fri, Nov 07 2014 11:00 AM by Bloomberg
    Yellen Supports Bond Buying to European Central Bankers Bloomberg Federal Reserve Chair Janet Yellen said central banks must do whatever it takes if governments won't use the public purse to invigorate economies struggling with low growth and below-target inflation. "Central banks need to be prepared to employ all ...
  • 11:00 AM » Fed's Yellen says weak fiscal support has slowed global recovery
    Published Fri, Nov 07 2014 11:00 AM by Reuters
    (Reuters) - Federal Reserve Chair Janet Yellen said politicians across the globe should make sure their fiscal houses are in order during good times, so they can support economies when things go bad, blaming part of the slow recovery on weak government support.
  • 10:59 AM » Regulator Seeks to Allay Fears of Risky Mortgage Lending
    Published Fri, Nov 07 2014 10:59 AM by WSJ
    A top housing regulator on Friday said that a lack of demand to buy homes might be slowing the housing recovery, while providing slightly more details about a program that some critics have said could open the door to risky lending practices.
  • 8:55 AM » Fed's Mester sees rate rise, confident on inflation
    Published Fri, Nov 07 2014 8:55 AM by CNBC
    The Fed will likely raise rates next year since inflation remains stable and should rise to target by the end of 2016, a top Fed official said.
  • 8:54 AM » U.S. Economy Added 214,000 Jobs in October; Unemployment Rate Drops to 5.8%
    Published Fri, Nov 07 2014 8:54 AM by rss.nytimes.com
    Analysts had expected an increase of 235,000 jobs and for the unemployment rate to remain at 5.9 percent.
    Click Here to Read the Full Article

    Source: rss.nytimes.com
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More From MND

Mortgage Rates:
  • 30 Yr FRM 3.96%
  • |
  • 15 Yr FRM 3.16%
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  • Jumbo 30 Year Fixed 3.81%
MBS Prices:
  • 30YR FNMA 4.5 108-20 (0-03)
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  • 30YR FNMA 5.0 110-27 (0-01)
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  • 30YR FNMA 5.5 111-27 (0-02)
Recent Housing Data:
  • Mortgage Apps 4.93%
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  • Refinance Index 0.90%
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  • FHFA Home Price Index 0.67%