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  • Fri, Mar 3 2017
  • 9:15 AM » Pimco's New Bond Chief Is Nailing It
    Published Fri, Mar 03 2017 9:15 AM by Bloomberg
    Bloomberg Pimco's New Bond Chief Is Nailing It Bloomberg After star money manager Bill Gross left in 2014, Pacific Investment Management Co. seemed destined to fade from prominence and become just one of the many firms that dot the U.S. bond-industry landscape. But then Dan Ivascyn, the man tapped to ... and more »
  • 9:15 AM » Futures dip ahead of Yellen's speech
    Published Fri, Mar 03 2017 9:15 AM by Reuters
    (Reuters) - U.S. stock index futures were down for the second straight day since January on Friday, ahead of Federal Reserve Chair Janet Yellen's speech, which is expected to give further clarity on the possibility of an interest rate hike later this month.
  • 9:15 AM » Will Technology Replace Appraisers?
    Published Fri, Mar 03 2017 9:15 AM by
    Experts shared their thoughts on the matter during a recent HousingWire webinar.
    Click Here to Read the Full Article

  • 9:15 AM » Should Doctors Be Able to Prescribe Housing as a Cure for Homelessness?
    Published Fri, Mar 03 2017 9:15 AM by
    That's the logic behind a new bill introduced in Hawaii that would classify homelessness as a medical condition and potentially save the state millions in health care costs.
    Click Here to Read the Full Article

  • 9:13 AM » CoreLogic to integrate Centralized Showing Service with Matrix
    Published Fri, Mar 03 2017 9:13 AM by
    CoreLogic ® (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, today announced a new agreement to integrate Centralized Showing Service (CSS) functionality with its real estate solutions, including the Matrix™ multiple listing platform. With four call centers serving more than 200,000 agents across the U.S., CSS is the nation’s leader in real estate showing management. Under the agreement, CoreLogic will integrate and offer CSS appointment scheduling services to clients of Matrix and other CoreLogic real estate solutions. Matrix is North America’s most popular multiple listing platform and today serves 650,000 real estate professionals. “This collaboration is momentous,” said Kevin Hughes, vice president of Business Development for CSS. “By directly integrating our showing appointment management functionality into Matrix, agents are empowered to improve their workflow, minimize missed showings, collect feedback and close more sales. It’s exciting to see our teams coming together to enable more agents to reach higher levels of productivity.” “Forging a relationship with another industry leader like Centralized Showing Service is a major win for both of our companies—and for our clients,” said Chris Bennett, general manager of Real Estate Solutions for CoreLogic. “This agreement will give more multiple listing subscribers integrated access to premier showing management services. I’m thrilled to team up with CSS and look forward to working together to find new ways we can serve our clients better.” About CoreLogic CoreLogic (NYSE: CLGX) is a leading global property information, analytics and data-enabled solutions provider. The company’s combined data from public, contributory and proprietary sources includes over 4.5 billion records spanning more than 50 years, providing...
    Click Here to Read the Full Article

  • Thu, Mar 2 2017
  • 3:51 PM » CNBC Exclusive: CNBC Excerpts: Federal Reserve Governor Jerome Powell Speaks with CNBC's Steve Liesman on "Squawk on the Street"
    Published Thu, Mar 02 2017 3:51 PM by CNBC
    CNBC Exclusive: CNBC Excerpts: Federal Reserve Governor Jerome Powell Speaks with CNBC's Steve Liesman on "Squawk on the Street"
  • 2:36 PM » Fed - Brainard comments more important, forget Yellen/Fischer
    Published Thu, Mar 02 2017 2:36 PM by
    The gulf between Fed hawks and doves evident during 2016 has been bridged. This is the main takeaway from the hawkish comments from Brainard who has tended to be on the more dovish end of the spectrum. Brainard in a speech late Wednesday said that the risks to the outlook "are as close to balanced as they have been in some time" adding that a hike "will likely be appropriate soon". Read more:
    Click Here to Read the Full Article

  • 2:08 PM » Ben Carson Is the New Head of HUD—and Why You Should Care
    Published Thu, Mar 02 2017 2:08 PM by
    The U.S. Senate confirmed Ben Carson as the new head of the U.S. Department of Housing and Urban Development on Thursday. What does this mean for housing? The post Ben Carson Is the New Head of HUD-and Why You Should Care appeared first on Real Estate News & Advice |® .
    Click Here to Read the Full Article

  • 11:22 AM » BlackRock's Hegarty Says March Fed Hike Is 'Warranted' - Bloomberg Video
    Published Thu, Mar 02 2017 11:22 AM by Bloomberg
    Bloomberg BlackRock's Hegarty Says March Fed Hike Is 'Warranted' Bloomberg Martin Hegarty, head of inflation-linked bond portfolios at BlackRock, looks at the impact of inflation on markets and offers his thoughts on a March rate hike by the Federal Reserve. He speaks on "Bloomberg Daybreak: Americas." (Source: Bloomberg) ...
  • 11:22 AM » US Senate approves Ben Carson for housing secretary post
    Published Thu, Mar 02 2017 11:22 AM by CNBC
    Ben Carson, President Donald Trump's nominee to lead U.S. housing policy, won Senate approval on Thursday.
  • 11:22 AM » Merrill on Possible March Fed Hike
    Published Thu, Mar 02 2017 11:22 AM by Calculated Risk Blog
    Expectations of a March rate hike have increased significantly over the last few days. Some market based measures now show an 80%+ chance of a rate hike. A few excerpts from Merrill Lynch research: The market has moved dramatically in the past two days to price in a hike at the March meeting. This was partly triggered by hawkish commentary from regional Fed presidents, including NY Fed President Dudley yesterday. While we agree that the chances of a hike in March have increased, given the Fed commentary, we are sticking with our baseline forecast for the Fed to stay on hold at the next meeting and hike in June. That said, it is a very close call ... ... What to watch: 1. Fed speeches, with particular focus on Yellen and Fischer on Friday. Will they push back at all against market pricing for March? Or will they make comments similar to Dudley ... 2. Employment report on March 10th: While the Fed does not respond to just one report, they would like to see something trend-like to support a hike. This means close to 175K on NFP, a 0.2/0.3% mom rebound in wages and the unemployment rate slipping/holding steady. The FOMC meeting will be on March 14th and 15th.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 11:21 AM » Mortgage Rates Break Holding Pattern, Move Lower
    Published Thu, Mar 02 2017 11:21 AM by
    Mortgage Rates Break Holding Pattern, Move Lower
    Click Here to Read the Full Article

  • 9:05 AM » US jobless claims fall to 44-year-low as labor market tightens
    Published Thu, Mar 02 2017 9:05 AM by CNBC
    The number of Americans filing for benefits fell, pointing to further tightening in the labor market even as growth appears to have remained moderate in the first quarter.
  • 8:27 AM » 3 Homeowner Tax Breaks That Ended in 2016
    Published Thu, Mar 02 2017 8:27 AM by
    Many tax breaks expired on Dec. 31, 2016. Are they gone for good?
    Click Here to Read the Full Article

  • 8:24 AM » CoreLogic Integrate Property Tax Estimator With the Ellie Mae Encompass All-In-One Mortgage Management Solution
    Published Thu, Mar 02 2017 8:24 AM by
    —Encompass Users Can Now Access Highly Accurate Property Tax Estimates from Leading Loan Origination Software Platform— CoreLogic ® (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, today announced the integration of its Property Tax Estimator product on the Ellie Mae Encompass ® all-in-one mortgage management solution. Property Tax Estimator is an automated solution designed to improve the accuracy of loan estimates (LEs) in the origination process, and provide better data to underwriters and servicers. The solution is particularly effective in estimating taxes for new construction and in areas of the country that have tax caps for existing residents, where the tax rate resets after a sale or transfer in ownership. “The tax estimating process is critical to several stages of the mortgage cycle: disclosures, underwriting and servicing. Accurate tax estimates help deliver the right blend of quality, performance and efficiency required for optimizing the borrower experience while minimizing compliance risk,” said Kirk Randlett, Vice President, Operations, Tax Services Management, for CoreLogic. “Property Tax Estimator brings the full value of CoreLogic data capabilities in a solution that is now easily accessible via Encompass.” Property Tax Estimator is designed to significantly increase the accuracy of LEs, reduce compliance risk and improve the customer experience. By delivering highly accurate tax data early in the process, Property Tax Estimator also helps underwriters qualify the borrower’s ability to financially support all mortgage costs, and improves the onboarding process for servicers. Additionally, it eliminates the need for any specialized skills required for data procurement and provides a consistent workflow process no matter the property, exemption status, county exception complexity, and loan officer tenure. Property Tax...
    Click Here to Read the Full Article

  • 8:24 AM » US 2-year bond yield hits multi-year high on hawkish Fed
    Published Thu, Mar 02 2017 8:24 AM by CNBC
    U.S. Treasury prices firmed today after falling in yesterday's session on hawkish comments from Federal Reserve members.
  • 8:24 AM » Duy: On the Fed, Possible March Rate Hike, and Dudley
    Published Thu, Mar 02 2017 8:24 AM by Calculated Risk Blog
    From Tim Duy at Bloomberg: Timing of the Next Fed Rate Hike Is Now a Balancing Act Will they or won't they? Bond traders are now pricing in odds above 75 percent that Federal Reserve policy makers will raise interest rates when they meet in two weeks, but there is still plenty of data to chew on before then. ... The timing of the next hike is a balancing act between the need for preemptive policy to stave off inflationary pressure against the desire to let labor market strength continue to eat away at any residual underemployment. As of December, the median Federal Open Market Committee participant believed that balance was met with three 25 basis-point hikes in 2017. ... That number, however, is somewhat deceptive as some of the more hawkish FOMC members, such as Richmond Federal Reserve President Jeffrey Lacker, aren't voting members this year. The voters have tended to tilt dovish, which is why I describe the forecasts within the Fed's Summary of Economic Projections as pointing toward two hikes with an option on a third. That speaks to moves in June and December and possibly September. And from Duy at Fed Watch: More on Dudley I think in this interview Dudley is doing a good job explaining policy in terms of the forecast. That is something the Fed needs to keep pushing. It doesn't sound like the forecast or the risks have moved sufficiently to change the number of rate hikes expected this year. But he sure seems to be leaning toward pulling forward those hikes. ... Bottom Line: When I read the interview, it is hard for me to see that he has a strong conviction for drawing forward the rate hike to March. It seems odd to do so if he sees no change in the forecast and downplays the impact of the upside risks. If he does want to move in March, it tells me then it has little to do with either factor and is entirely about staying ahead of the curve. It is about the need for a preemptive rate hike. If his forecast is for three hikes and he wants to hike...
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • Wed, Mar 1 2017
  • 4:23 PM » The Best Business Reads of February
    Published Wed, Mar 01 2017 4:23 PM by The Atlantic
    At the end of every month, editors of The Atlantic' s Business Channel put together a list of the most insightful and interesting pieces of journalism about money and economics from around the web. This month's picks include a broad investigation about work and labor-why some groups disproportionately fill certain jobs and why some can't seem to find jobs at all-an investigation of Bernie Madoff, and a look at the dangers of expanding the U.S. Navy. If you've missed previous roundups, you can find recent ones here and here . " This Is the New Face of American Unemployment " Jeanna Smialek and Patricia Laya | Bloomberg Because of where the structurally unemployed live, what they've done, or the skills they lack, employers can't or won't hire them. The problems that keep today's jobless stuck on the sidelines are different than those of past recoveries: a complex web of often interrelated issues from disability and drug use to criminal records. Behind the statistics are people with 20 million unique stories. Here are five. * * * " Ponzi Supernova " Jad Abumrad and Robert Krulwich | Radiolab We thought we knew the story of Bernie Madoff. How he masterminded the biggest Ponzi scheme in history, leaving behind scores of distraught investors and a $65 billion black hole. But we had never heard the story from Madoff himself. . . . Was he a puppetmaster or a puppet? And if the latter, who else is to blame for the biggest financial fraud in history? * * * " Cheap Eats, Cheap Labor: The Hidden Human Costs Of Those Lists " Diep Tran | NPR I watched my aunts and uncles work 16-hour days, only to charge cut-rate prices for their food. And I also witnessed the grueling hours that their employees put in, also at cut-rate wages. It is a cruel reality that immigrant enterprise is powered by the cheap labor of fellow immigrants. Restaurant workers are already among the lowest paid workers in America. Many full-time workers...
  • 3:05 PM » More Wells Fargo customers may be affected by sales scandal: filing
    Published Wed, Mar 01 2017 3:05 PM by Reuters
    (Reuters) - More Wells Fargo & Co customers may have been impacted by a sales scandal than previously believed, the U.S. lender said in a regulatory filing on Wednesday.
  • 3:05 PM » Pace of Residential Construction Spending Continues Positive Trend
    Published Wed, Mar 01 2017 3:05 PM by
    Private residential construction got off to an auspicious start in 2017, continuing the growth trend that began in October of last year. NAHB analysis of Census Construction Spending data shows that total private residential construction spending grew 0.5% in January 2017 to a seasonally adjusted annual rate (SAAR) of $476.4 billion. Multifamily construction spending in January grew by 2.2% to a seasonally-adjusted... Read More ›
    Click Here to Read the Full Article

  • 3:05 PM » These luxury markets saw the biggest hikes in real estate prices
    Published Wed, Mar 01 2017 3:05 PM by CNBC
    Shanghai last year experienced the biggest annual price increase for prime residential real estate.
  • 12:22 PM » Bond Manager With $14 Billion Loads Up to Guard Against Frexit
    Published Wed, Mar 01 2017 12:22 PM by Bloomberg
    Bloomberg Bond Manager With $14 Billion Loads Up to Guard Against Frexit Bloomberg That's the view of Svenska Handelsbanken AB's asset management unit, which is keeping it's bond funds slightly geared toward lower rates. "The political worry is like a wet blanket over the market," said Lena Fahlen, head of fixed income at the unit ... and more »
  • 11:00 AM » ISM Manufacturing index increased to 57.7 in February
    Published Wed, Mar 01 2017 11:00 AM by Calculated Risk Blog
    The ISM manufacturing index indicated expansion in February. The PMI was at 57.7% in February, up from 56.0% in January. The employment index was at 54.2%, down from 56.1% last month, and the new orders index was at 65.1%, up from 60.4%. From the Institute for Supply Management: February 2017 Manufacturing ISM® Report On Business® Economic activity in the manufacturing sector expanded in February, and the overall economy grew for the 93rd consecutive month, say the nation's supply executives in the latest Manufacturing ISM® Report On Business®. The report was issued today by Bradley J. Holcomb, CPSM, CPSD, chair of the Institute for Supply Management® (ISM®) Manufacturing Business Survey Committee: " The February PMI® registered 57.7 percent , an increase of 1.7 percentage points from the January reading of 56 percent. The New Orders Index registered 65.1 percent , an increase of 4.7 percentage points from the January reading of 60.4 percent. The Production Index registered 62.9 percent, 1.5 percentage points higher than the January reading of 61.4 percent. The Employment Index registered 54.2 percent , a decrease of 1.9 percentage points from the January reading of 56.1 percent. Inventories of raw materials registered 51.5 percent, an increase of 3 percentage points from the January reading of 48.5 percent. The Prices Index registered 68 percent in February, a decrease of 1 percentage point from the January reading of 69 percent, indicating higher raw materials prices for the 12th consecutive month. Comments from the panel largely indicate strong sales and demand, and reflect a positive view of business conditions with a watchful eye on commodities and the potential for inflation." emphasis added Click on graph for larger image. Here is a long term graph of the ISM manufacturing index. This was above expectations of 56.1%, and suggests manufacturing expanded at as faster pace in February than in January. Another solid...
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 10:59 AM » US construction falls in January as drop in public outlays offset gains
    Published Wed, Mar 01 2017 10:59 AM by CNBC
    The Commerce Department said on Wednesday that construction spending declined 1.0 percent to $1.18 trillion.
  • 9:43 AM » A March surprise: Interest rate hike now a near-cinch
    Published Wed, Mar 01 2017 9:43 AM by CNBC
    Probability that the Federal Open Market Committee will approve an increase at its March 14-15 meeting zoomed to 69 percent Wednesday morning.
  • 9:43 AM » Here's what new homeowners regret the most about the buying process
    Published Wed, Mar 01 2017 9:43 AM by CNBC
    Congratulations on closing on your new home! Here are a few things other buyers wished they had done differently.
  • 9:42 AM » U.S. consumer spending slows; inflation pushes higher
    Published Wed, Mar 01 2017 9:42 AM by Reuters
    WASHINGTON, (Reuters) - U.S. consumer spending rose less than expected in January as the largest monthly increase in inflation in four years eroded households' purchasing power, pointing to moderate economic growth in the first quarter.
  • 7:49 AM » The 'Presidential' President finally steps up: Europe reacts to Trump's speech
    Published Wed, Mar 01 2017 7:49 AM by CNBC
    Despite complaints over the lack of detail, the European media on Wednesday had a broadly positive reaction to President Donald Trump's speech to Congress.
  • 7:49 AM » Fed trumps Trump as dollar, U.S. Treasury yields soar
    Published Wed, Mar 01 2017 7:49 AM by Reuters
    LONDON (Reuters) - The dollar and U.S. Treasury yields jumped on Wednesday, while stocks were mixed, as investors focused less on U.S. President Donald Trump's first speech to Congress and more on what they see as a growing chance of a U.S. interest rate hike this month.
  • 7:45 AM » Why the stock market doesn't mind Trump's lack of stimulus specifics
    Published Wed, Mar 01 2017 7:45 AM by Market Watch
    Stocks look ready to run higher - not tripped up by anything from President Trump or the increasingly-happy-to-hike Fed. Trump's address "should be good for 10 sticks on the S&P," says our call of the day.
  • 7:42 AM » Lowe's reports 19.3 percent jump in quarterly revenue
    Published Wed, Mar 01 2017 7:42 AM by Reuters
    (Reuters) - Lowe's Cos Inc , the No. 2 U.S. home improvement retailer, reported a 19.3 percent rise in holiday quarter revenue on Wednesday, boosted by a strong U.S. housing market.
  • Tue, Feb 28 2017
  • 10:09 PM » Read President Trump's full prepared remarks for his first address to Congress
    Published Tue, Feb 28 2017 10:09 PM by CNBC
    Read the president's full prepared remarks.
  • 10:08 PM » Trump calls for 'merit-based' immigration system in address to Congress
    Published Tue, Feb 28 2017 10:08 PM by CNBC
    President Donald Trump is speaking before a joint session of Congress on Tuesday.
  • 10:08 PM » The Fed: Fed's Bullard sounds cool to idea of March interest-rate hike
    Published Tue, Feb 28 2017 10:08 PM by Market Watch
    St. Louis Fed President James Bullard on Tuesday said the U.S. central bank could afford to be patient on interest rate hikes.
  • 10:08 PM » Trump talks up taxes at the border — but again provides no specifics
    Published Tue, Feb 28 2017 10:08 PM by CNBC
    President Donald Trump is speaking before a joint session of Congress on Tuesday.
  • 10:06 PM » Freddie Mac: Mortgage Serious Delinquency rate falls below 1.0% in January, Lowest since June 2008
    Published Tue, Feb 28 2017 10:06 PM by Calculated Risk Blog
    Freddie Mac reported that the Single-Family serious delinquency rate in January was at 0.99%, down from 1.00% in December.  Freddie's rate is down from 1.33% in January 2016. Freddie's serious delinquency rate peaked in February 2010 at 4.20%. This is the lowest serious delinquency rate since June 2008. These are mortgage loans that are "three monthly payments or more past due or in foreclosure".  Click on graph for larger image Although the rate is declining, the "normal" serious delinquency rate is under 1%. Maybe the rate will decline another 0.25 percentage points or so to a cycle bottom, but this is pretty close to normal. Note: Fannie Mae will report soon.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 4:22 PM » Amazon S3 Outage Has Broken A Large Chunk Of The Internet
    Published Tue, Feb 28 2017 4:22 PM by
    Amazon is best known as an online retailer that sells just about anything you can think of. However, it also runs a massive web hosting service called Amazon S3, which stands for Simple Storage Service (a part of Amazon Web Services). A huge number of websites store content and run services with Amazon S3, and Amazon is currently reporting "high error rates." That means a lot of things are broken.
    Click Here to Read the Full Article

  • 3:44 PM » Fed's Williams says there will be ‘serious consideration' of interest rate hike at March meeting
    Published Tue, Feb 28 2017 3:44 PM by Market Watch
    An interest-rate hike 'is on the table for serious consideration' at the upcoming March 14-15 policy meeting, said San Francisco Fed President John Williams Tuesday.
  • 2:57 PM » Trump tax plan, not even on drawing board, is already roiling rental housing
    Published Tue, Feb 28 2017 2:57 PM by Market Watch
    In anticipation of tax reform, investors across the country have been discounting the value of the tax credits to build affordable housing by about 10%, hurting rental housing construction.
  • 2:07 PM » Trump May Weigh In On H-1B Visas, But Major Reform Depends On Congress
    Published Tue, Feb 28 2017 2:07 PM by
    President Trump has said he wants to crack down on abuses and protect American workers. But it's Congress that holds the power to fundamentally reform the program, and work there is underway.
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