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  • Thu, Mar 7 2019
  • 8:05 AM » ECB to launch fresh funding to help bank lending
    Published Thu, Mar 07 2019 8:05 AM by CNBC
    The European Central Bank (ECB) kept interest rates unchanged Thursday amid economic and political uncertainty in the euro zone.
  • Wed, Mar 6 2019
  • 4:54 PM » Which Real Estate Markets Were Hot—or Not—in February 2019?
    Published Wed, Mar 06 2019 4:54 PM by www.realtor.com
    Even the nation's hottest real estate markets showed signs of cooling off in an analysis of realtor.com data for February. The post Which Real Estate Markets Were Hot-or Not-in February 2019? appeared first on Real Estate News & Insights | realtor.com® .
    Click Here to Read the Full Article

    Source: www.realtor.com
  • 4:53 PM » Conventional Loan Market Share Hits 10-Year High
    Published Wed, Mar 06 2019 4:53 PM by eyeonhousing.org
    NAHB analysis of the most recent Quarterly Sales by Price and Financing published by the U.S. Census Bureau reveals that conventional loans accounted for 76.9% of new home sales in the fourth quarter of 2018, a 2.4-percentage point increase from Q3 2018. Although mortgage rates have moderated in 2019, the increase in conventional mortgage market share in late-2018 was contemporaneous... Read More ›
    Click Here to Read the Full Article

    Source: eyeonhousing.org
  • 3:32 PM » Older Americans Flock to Rentals, and Here's Why
    Published Wed, Mar 06 2019 3:32 PM by www.realtor.com
    America's fastest-growing group of renters is over the age of 60, a reflection of demographic trends and changing attitudes about homeownership. The post Older Americans Flock to Rentals, and Here’s Why appeared first on Real Estate News & Insights | realtor.com® .
    Click Here to Read the Full Article

    Source: www.realtor.com
  • 2:16 PM » Tariffs, U.S. government shutdown weigh on still-growing economy: Fed
    Published Wed, Mar 06 2019 2:16 PM by Reuters
    - Slowing global growth and the 35-day partial federal government shutdown weighed on the U.S. economy in the first weeks of 2019, but it continued growing amid still tight labor markets, the Federal Reserve reported on Wednesday.
  • 2:10 PM » Fed's Williams: 'New normal' of slow growth will keep Fed patient
    Published Wed, Mar 06 2019 2:10 PM by CNBC
    He cited three constraining factors: a global slowdown, geopolitical uncertainty and tighter financial conditions.
  • 2:10 PM » Americans Blame Wall Street for Making American Dream Harder to Achieve
    Published Wed, Mar 06 2019 2:10 PM by Bloomberg
    Americans Blame Wall Street for Making American Dream Harder to Achieve    Bloomberg Almost half of Americans say Wall Street banks have made the "American Dream" more difficult to attain, according to a national poll released Wednesday that ...
  • 11:29 AM » Las Vegas Real Estate in February: Sales Down 7% YoY, Inventory up 105% YoY
    Published Wed, Mar 06 2019 11:29 AM by Calculated Risk Blog
    This is a key former distressed market to follow since Las Vegas saw the largest price decline, following the housing bubble, of any of the Case-Shiller composite 20 cities. The Greater Las Vegas Association of Realtors reported Local home prices dip below $300,000 as homes sell at slower pace, GLVAR housing statistics for February 2019 Local home prices dipped below $300,000 in February while fewer properties changed hands and more homes were on the market than one year ago. That's according to a report released Wednesday by the Greater Las Vegas Association of REALTORS® (GLVAR). ... The total number of existing local homes, condos and townhomes sold during February was 2,508. Compared to one year ago, February sales were down 7.6 percent for homes and down 5.9 percent for condos and townhomes . ... At the current sales pace, Carpenter said Southern Nevada now has less than a four-month supply of homes available for sale . That's up sharply from one year ago, but still below what would normally be considered a balanced market. By the end of February, GLVAR reported 7,134 single-family homes listed for sale without any sort of offer. That's up 95.3 percent from one year ago. For condos and townhomes, the 1,754 properties listed without offers in February represented a 158.3 percent jump from one year ago. ... The number of so-called distressed sales also continues to drop. GLVAR reported that short sales and foreclosures combined accounted for just 2.6 percent of all existing local property sales in February . That's down from 3.8 percent of all sales one year ago and 10.6 percent two years ago. emphasis added 1) Overall sales were down 7% year-over-year from 2,704 in February 2018 to 2,508 in February 2019. 2) Active inventory (single-family and condos) is up sharply from a year ago, from a total of 4,332 in February 2018 to 8,888 in February 2019. Note: Total inventory was up 105% year-over-year.   This is a significant increase...
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 11:00 AM » Kraninger appearance at March 7 House Financial Services Committee hearing to be followed by panel of witnesses
    Published Wed, Mar 06 2019 11:00 AM by www.consumerfinancemonitor.com
    The House Financial Services Committee has updated its website to confirm that CFPB Director Kraninger is scheduled to appear at the Committee's hearing tomorrow entitled "Putting Consumers First? A Semi-Annual Review of the Consumer Financial Protection Bureau." The update also indicates that Director Kraninger's appearance will be followed by a panel consisting of the following individuals:... Continue Reading
    Click Here to Read the Full Article

    Source: www.consumerfinancemonitor.com
  • 11:00 AM » ECB set to lower its outlook and could hint at new cheap loans for banks
    Published Wed, Mar 06 2019 11:00 AM by CNBC
    When the European Central Bank's top officials meet Thursday, there is no way that they can ignore the worsening economic picture across the euro zone.
  • 9:29 AM » U.S. trade deficit hits 10-year high in 2018 on record imports
    Published Wed, Mar 06 2019 9:29 AM by Reuters
    The U.S. trade deficit surged to a 10-year high in 2018, with the politically sensitive shortfall with China hitting a record peak, despite the Trump administration slapping tariffs on a range of imported goods in an effort to shrink the gap.
  • 8:57 AM » Talks on amending Brexit deal difficult, no solution in sight: EU
    Published Wed, Mar 06 2019 8:57 AM by Reuters
    Talks with Britain on amending its divorce deal with the European Union have made no progress and no solution is in sight, EU officials said on Wednesday, days before British lawmakers must vote on the plan to avoid a chaotic Brexit.
  • 8:48 AM » U.S. trade deficit jumps to 10-year high in 2018
    Published Wed, Mar 06 2019 8:48 AM by Reuters
    WASHINGTON, March 6 - The U.S. trade deficit surged to a 10-year high in 2018, with the politically sensitive shortfall with China hitting a record peak, despite the Trump administration slapping tariffs on a range of imported goods in an effort to shrink the gap.
  • 8:17 AM » Private payrolls up 183,000, missing estimates, and Moody's economist says jobs may have peaked
    Published Wed, Mar 06 2019 8:17 AM by CNBC
    Job creation at the company level cooled in February after a sizzling start to 2019, according to a report from ADP and Moody's Analytics.
  • 8:16 AM » Bill Gross's Successor Scraps Go-Anywhere Strategy in Turn to Safety
    Published Wed, Mar 06 2019 8:16 AM by Bloomberg
    Bill Gross's Successor Scraps Go-Anywhere Strategy in Turn to Safety    Bloomberg Nick Maroutsos is trying to succeed where legendary bond manager Bill Gross couldn't.
  • Tue, Mar 5 2019
  • 4:05 PM » Recessions Are Getting Tougher to Predict
    Published Tue, Mar 05 2019 4:05 PM by Bloomberg
    Recessions Are Getting Tougher to Predict    Bloomberg Slower growth and higher variability means there is a greater probability of periodic economic contractions.
  • 4:04 PM » For Fed, few reasons to end 'patient' stance on rates
    Published Tue, Mar 05 2019 4:04 PM by Reuters
    With inflation muted but other risks to the U.S. economy on the rise, the Federal Reserve's patience on policy is nowhere close to running out, with one previously hawkish central banker on Tuesday signaling he could wait until at least June before touching interest rates again.
  • 2:56 PM » Fed's Rosengren Suggests Rate Pause May Last ‘Several Meetings' - Bloomberg
    Published Tue, Mar 05 2019 2:56 PM by Bloomberg
    Fed's Rosengren Suggests Rate Pause May Last 'Several Meetings'    Bloomberg Federal Reserve Bank of Boston President Eric Rosengren said it may take policy makers "several meetings" to determine whether risks to the U.S. economy will ...
  • 11:14 AM » ISM Non-Manufacturing Index increased to 59.7% in February
    Published Tue, Mar 05 2019 11:14 AM by Calculated Risk Blog
    The February ISM Non-manufacturing index was at 59.7%, up from 56.7% in January. The employment index decreased in February to 55.2%, from 57.8%. Note: Above 50 indicates expansion, below 50 contraction. From the Institute for Supply Management: February 2019 Non-Manufacturing ISM Report On Business® Economic activity in the non-manufacturing sector grew in February for the 109th consecutive month, say the nation's purchasing and supply executives in the latest Non-Manufacturing ISM® Report On Business®. The report was issued today by Anthony Nieves, CPSM, C.P.M., A.P.P., CFPM, Chair of the Institute for Supply Management® (ISM®) Non-Manufacturing Business Survey Committee: " The NMI® registered 59.7 percent , which is 3 percentage points higher than the January reading of 56.7 percent. This represents continued growth in the non-manufacturing sector, at a faster rate. The Non-Manufacturing Business Activity Index increased to 64.7 percent, 5 percentage points higher than the January reading of 59.7 percent, reflecting growth for the 115th consecutive month, at a faster rate in February. The New Orders Index registered 65.2 percent, 7.5 percentage points higher than the reading of 57.7 percent in January. The Employment Index decreased 2.6 percentage points in February to 55.2 percent from the January reading of 57.8 percent. The Prices Index decreased 5 percentage points from the January reading of 59.4 percent to 54.4 percent, indicating that prices increased in February for the 21st consecutive month. According to the NMI®, all 18 non-manufacturing industries reported growth. The non-manufacturing sector's growth rate rebounded in February after cooling off in January. Respondents are concerned about the uncertainty of tariffs, capacity constraints and employment resources; however, they remain mostly optimistic about overall business conditions and the economy." emphasis added Click on graph for larger image. This...
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 10:47 AM » Cheaper Housing Options Boost Homeownership in Some U.S. Metros
    Published Tue, Mar 05 2019 10:47 AM by Bloomberg
    Cheaper Housing Options Boost Homeownership in Some U.S. Metros    Bloomberg The American dream of homeownership is alive and within reach, even to those with modest household income, if they happen to live in Minneapolis, Pittsburgh ...
  • 10:19 AM » New home sales rise to 7-month high in December
    Published Tue, Mar 05 2019 10:19 AM by CNBC
    Sales of new U.S. single-family homes rose to a seven-month high in December, but November's outsized jump was revised lower, pointing to continued weakness in the housing market.
  • 9:26 AM » CoreLogic: House Prices up 4.4% Year-over-year in January
    Published Tue, Mar 05 2019 9:26 AM by Calculated Risk Blog
    Notes: This CoreLogic House Price Index report is for January . The recent Case-Shiller index release was for December. The CoreLogic HPI is a three month weighted average and is not seasonally adjusted (NSA). From CoreLogic: CoreLogic Reports January Home Prices Increased by 4.4 Percent Year Over Year CoreLogic® ... today released the CoreLogic Home Price Index (HPI™) and HPI Forecast™ for January 2019, which shows home prices rose both year over year and month over month. Home prices increased nationally by 4.4 percent year over year from January 2018. On a month-over-month basis, prices increased by 0.1 percent in January 2019. (December 2018 data was revised. Revisions with public records data are standard, and to ensure accuracy, CoreLogic incorporates the newly released public data to provide updated results each month.) Looking ahead, the CoreLogic HPI Forecast indicates that the 2019 annual average home price will increase 3.4 percent above the 2018 annual average. On a month-over-month basis, home prices are expected to decrease by 0.9 percent from January 2019 to February 2019. The CoreLogic HPI Forecast is a projection of home prices calculated 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. "The spike in mortgage interest rates last fall chilled buyer activity and led to a slowdown in home sales and price growth," said Dr. Frank Nothaft, chief economist for CoreLogic. " Fixed-rate mortgage rates have dropped 0.6 percentage points since November 2018 and today are lower than they were a year ago. With interest rates at this level, we expect a solid home-buying season this spring ." emphasis added CR Note: The CoreLogic YoY increase had been in the 5% to 7% range for the last few years. This is the slowest twelve-month home-price growth rate since August 2012. The year-over-year comparison has...
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 8:06 AM » China can 'absolutely' reach agreement with U.S. on financial opening, banking regulatory chief says
    Published Tue, Mar 05 2019 8:06 AM by Reuters
    China can "absolutely" reach an agreement with the United States on opening up its financial sector, China's top banking regulator Guo Shuqing told reporters on Tuesday on the sidelines of the annual parliament meeting.
  • 8:03 AM » Fed may need time to have clarity on US economy: Rosengren
    Published Tue, Mar 05 2019 8:03 AM by CNBC
    It may take the Fed several meetings before it has a clear read on the economy, a top Fed policymaker said.
  • Mon, Mar 4 2019
  • 3:01 PM » Q4 2018 GDP Details on Residential and Commercial Real Estate
    Published Mon, Mar 04 2019 3:01 PM by Calculated Risk Blog
    The BEA has released the underlying details for the Q4 initial GDP report. The BEA reported that investment in non-residential structures decreased at a 4.2% annual pace in Q4.  Investment in petroleum and natural gas exploration increased in Q4 compared to Q3, and has increased substantially recently (although this may change with the recent decline in oil prices). Without the increase in petroleum and natural gas exploration, non-residential investment would only be up about 5% year-over-year. Click on graph for larger image. The first graph shows investment in offices, malls and lodging as a percent of GDP. Investment in offices increased in Q4, and is up 12% year-over-year. Investment in multimerchandise shopping structures (malls) peaked in 2007 and was down about 15% year-over-year in Q4.   The vacancy rate for malls is still very high, so investment will probably stay low for some time. Lodging investment increased in Q4, and lodging investment is up 16% year-over-year. The second graph is for Residential investment components as a percent of GDP. According to the Bureau of Economic Analysis, RI includes new single family structures, multifamily structures, home improvement, Brokers' commissions and other ownership transfer costs, and a few minor categories (dormitories, manufactured homes). Home improvement was the top category for five consecutive years following the housing bust ... but now investment in single family structures has been back on top for the last six years - although single family investment has been down a little recently. However - even though investment in single family structures has increased from the bottom - single family investment is still very low, and still below the bottom for previous recessions as a percent of GDP. I expect some further increase. Investment in single family structures was $278 billion (SAAR) (about 1.3% of GDP), and was down in Q4 compared to Q3. Investment in multi...
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 2:59 PM » CFPB issues report on servicemember first-time homebuyer mortgage loans
    Published Mon, Mar 04 2019 2:59 PM by www.consumerfinancemonitor.com
    The CFPB has issued a report, "Mortgages to First-time Homebuying Servicemembers," that focuses on mortgage loans made from 2006 to 2016 to first-time homebuyers who are serving in the military or are veterans. In its press release, the Bureau states that the report represents "the first time researchers have been able to provide a description... Continue Reading
    Click Here to Read the Full Article

    Source: www.consumerfinancemonitor.com
  • 2:59 PM » Lawmakers want to restore these 3 tax breaks
    Published Mon, Mar 04 2019 2:59 PM by CNBC
    Whether you paid college tuition in 2018 or you coughed up money for mortgage insurance, you should keep an eye on this package of tax breaks that are up for renewal. Sens. Chuck Grassley (R-Iowa) and Ron Wyden (D-Ore.) are proposing legislation that will allow you to claim these deductions.
  • 2:59 PM » Wall Street drops after weak data, trade optimism fades
    Published Mon, Mar 04 2019 2:59 PM by Reuters
    Wall Street's major indexes slumped on Monday after a weak U.S. construction spending report, as investors took advantage of optimism over a U.S.-China trade deal to lock in profits after the market's strong run to start 2019.
  • 12:00 PM » Homebuilding King Is Funneling His Fortune Into Something New
    Published Mon, Mar 04 2019 12:00 PM by Bloomberg
    Homebuilding King Is Funneling His Fortune Into Something New    Bloomberg Over four decades, Peter Gilgan turned Mattamy Homes into the largest closely held home-construction company in North America. Now the Canadian ...
  • 10:51 AM » Construction Spending decreased in December
    Published Mon, Mar 04 2019 10:51 AM by Calculated Risk Blog
    From the Census Bureau reported that overall construction spending decreased in December: Construction spending during December 2018 was estimated at a seasonally adjusted annual rate of $1,292.7 billion, 0.6 percent below the revised November estimate of $1,300.6 billion. The December figure is 1.6 percent above the December 2017 estimate of $1,272.6 billion. The value of construction in 2018 was $1,297.7 billion, 4.1 percent above the $1,246.0 billion spent in 2017 . Both private and public spending decreased: Spending on private construction was at a seasonally adjusted annual rate of $991.2 billion, 0.6 percent below the revised November estimate of $997.1 billion. ... In December, the estimated seasonally adjusted annual rate of public construction spending was $301.5 billion, 0.6 percent below the revised November estimate of $303.5 billion. emphasis added Click on graph for larger image. This graph shows private residential and nonresidential construction spending, and public spending, since 1993. Note: nominal dollars, not inflation adjusted. Private residential spending had been increasing - although has declined  recently - and is still 21% below the bubble peak. Non-residential spending is 10% above the previous peak in January 2008 (nominal dollars). Public construction spending is now 7% below the peak in March 2009, and 15% above the austerity low in February 2014. The second graph shows the year-over-year change in construction spending. On a year-over-year basis, private residential construction spending is down 1%. Non-residential spending is up 3% year-over-year. Public spending is up 4% year-over-year. This was below consensus expectations, however spending for October and November were revised up.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 10:22 AM » Rocky Mountain and the Far West Led GDP Growth in the Third Quarter of 2018
    Published Mon, Mar 04 2019 10:22 AM by eyeonhousing.org
    Real gross domestic product (GDP) increased in 49 states and the District of Columbia, in the third quarter 2018 compared to the second quarter of 2018. U.S. Bureau of Economic Analysis reported the real GDP growth rates, measured on a seasonally adjusted annual rate basis, ranged from 5.8% in Washington to 0.0% in West Virginia. Nationwide, real GDP growth slowed to... Read More ›
    Click Here to Read the Full Article

    Source: eyeonhousing.org
  • 9:59 AM » US Treasury yields slip despite US-China trade talks nearing 'final stages'
    Published Mon, Mar 04 2019 9:59 AM by CNBC
    Treasury yields slipped on Monday despite trade negotiations between the United States and China reaching the "final stages."
  • 9:04 AM » Now may be the time to use bonds in portfolios
    Published Mon, Mar 04 2019 9:04 AM by CNBC
    Amid worries that the U.S. is headed for a recession by the end of next year, is now the time to start revisiting the idea of adding more bonds to your investment portfolio? CNBC talks to financial advisors.
  • 8:50 AM » U.K. Construction Contracts as Brexit Delays Building Projects
    Published Mon, Mar 04 2019 8:50 AM by Bloomberg
    U.K. Construction Contracts as Brexit Delays Building Projects    Bloomberg U.K. construction contracted for the first time in almost a year as a lack of clarity about Brexit prompted builders to postpone decisions on projects.
  • 8:09 AM » U.S. and China said to appear close to deal to roll back tariffs
    Published Mon, Mar 04 2019 8:09 AM by Reuters
    The United States and China appear close to a deal that would roll back U.S. tariffs on at least $200 billion worth of Chinese goods, as Beijing makes pledges on structural economic changes and eliminates retaliatory tariffs on U.S. goods, a source briefed on negotiations said on Sunday.
  • 8:06 AM » Bond Traders Bet Steepening Has More Steam as Payrolls Approach
    Published Mon, Mar 04 2019 8:06 AM by Bloomberg
    Bond Traders Bet Steepening Has More Steam as Payrolls Approach    Bloomberg As Treasuries traders reap profits on yield-curve steepener bets, Wall Street says the wagers have more juice.
  • 8:05 AM » Bill Gross Sees ‘Much Less' Alpha in Era of QE and Quant Trading
    Published Mon, Mar 04 2019 8:05 AM by Bloomberg
    Bill Gross Sees 'Much Less' Alpha in Era of QE and Quant Trading    Bloomberg Think of it as a parting shot to anyone hoping to be the next king of bonds. Bill Gross, who defined his investing career by beating benchmarks, says the era of ...
  • Fri, Mar 1 2019
  • 4:07 PM » How to Sell Your House in 2019
    Published Fri, Mar 01 2019 4:07 PM by www.redfin.com
    So, you have found yourself at that point of selling your house and moving on. Maybe you're downsizing to a smaller house because the kids have finally left the nest, or you got a job in a new city and need to relocate, or finally, you retired and want to head south to warmer climates. […] The post How to Sell Your House in 2019 appeared first on Redfin Real-Time .
    Click Here to Read the Full Article

    Source: www.redfin.com
  • 4:07 PM » Atlanta Fed's closely watched GDP tracker shows next to no growth for first quarter
    Published Fri, Mar 01 2019 4:07 PM by CNBC
    The Atlanta Fed's GDPNow initial model estimate shows negligible growth for the first quarter of just 0.3 percent.
  • 4:06 PM » Oregon's new rent control law is only a band-aid on the state's housing woes
    Published Fri, Mar 01 2019 4:06 PM by webfeeds.brookings.edu
    Oregon Governor Kate Brown yesterday signed into law a statewide cap on rent increases-the first statewide policy of this kind. The economic rationale is to lessen financial strain on renters, given that housing costs have risen faster than incomes. In many large cities along East and West Coasts, even middle-income families are stretching to pay…                
    Click Here to Read the Full Article

    Source: webfeeds.brookings.edu
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