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  • Tue, Oct 31 2017
  • 10:06 AM » Consumer confidence hits 125.9 in October vs expectation of 121
    Published Tue, Oct 31 2017 10:06 AM by CNBC
    Economists polled by Reuters expect consumers to be even more optimistic this month.
  • 9:48 AM » Homeowners Should Winterize Now, Appraisal Institute Says
    Published Tue, Oct 31 2017 9:48 AM by PR Newswire
    CHICAGO, Oct. 31, 2017 /PRNewswire-USNewswire/ -- The nation's largest professional association of real estate appraisers today advised homeowners to winterize their properties now for cold weather ahead to improve comfort, reduce costs and potentially increase value.   "Fall is...
  • 9:15 AM » Yet more evidence that housing affordability is getting worse
    Published Tue, Oct 31 2017 9:15 AM by webfeeds.brookings.edu
    Evidence continues to pile up revealing that housing affordability is getting worse, particularly for low-income households.[1] One of the latest examples, an analysis by Freddie Mac, examines rent changes for a sample of apartment buildings that the company financed at least twice between 2010 and 2016.[2] The bottom line: it wasn't easy for poor families…                
    Click Here to Read the Full Article

    Source: webfeeds.brookings.edu
  • 9:15 AM » Case-Shiller home price index rises 6.1% year-over-year in August
    Published Tue, Oct 31 2017 9:15 AM by CNBC
    The U.S. National Home Price NSA Index was expected to stay the same in August, according to data from S&P CoreLogic Case-Shiller.
  • 8:33 AM » The U.S. Isn't Prepared for the Next Recession
    Published Tue, Oct 31 2017 8:33 AM by The Atlantic
    Maybe it will start with a failed initial public offering, followed by the revelation of widespread fraud in Silicon Valley. Perhaps energy prices will spike, sapping the finances of anyone who drives a car to work. Maybe a foreign crisis will cause a credit crunch, or President Trump will spark a global trade war. A recession might seem like a distant concern, with the latest data showing that the current, extraordinarily long expansion just keeps humming along. But one will hit eventually, for some reason or another-that's how economies work. And when it does, the country won't be ready. The average middle-class household has largely recovered from the Great Recession, which began nearly 10 years ago, in December 2007. The growing economy has started to boost earnings across the income spectrum , and higher housing prices have done the same for net worth. The amount of debt that households owe is falling , too. Yet millions of people remain in perilous financial shape, with little to buffer them in the event of a layoff. Roughly half of respondents to a Federal Reserve survey conducted in 2015 said that they could not come up with $400 in an emergency , with a third saying they could not cover three months of expenses, even if they sold assets, dipped into retirement accounts, and asked friends and family for help. Outsize wealth and income continue to accumulate at the very top of the scale, and the finances of millions of American families remain fragile . Americans are no worse off than they were when the last recession hit, in other words, but a decade of growth has not made them more secure, either. American businesses, on the other hand, have rarely had it so good. Rising demand from overseas and a weaker dollar have boosted corporate earnings across the board, so much so that four in five companies beat analysts' earnings expectations in the second quarter-the highest share in more than a decade, Bloomberg reports . The stock market is at or near...
  • 8:27 AM » Freddie Mac Reports Third Quarter 2017 Financial Results
    Published Tue, Oct 31 2017 8:27 AM by freddiemac.mwnewsroom.com
    Freddie Mac Reports Third Quarter 2017 Financial Results
    Click Here to Read the Full Article

    Source: freddiemac.mwnewsroom.com
  • Mon, Oct 30 2017
  • 2:51 PM » Are house prices a new bubble?
    Published Mon, Oct 30 2017 2:51 PM by Calculated Risk Blog
    On Friday, I posted five economic questions I'm frequently asked . I'll post some thoughts on each of these topics over the next couple of weeks. A common question is: Are house prices in a new bubble?  My short answer was: No.  Here is an explanation. First, we need to define a bubble. Way back in April 2005, when I was very bearish on housing, I wrote: Housing: Speculation is the Key . From that post: I have taken to calling the housing market a "bubble". But how do I define a bubble? A bubble requires both overvaluation based on fundamentals and speculation. It is natural to focus on an asset's fundamental value, but the real key for detecting a bubble is speculation - the topic of this post. Speculation tends to chase appreciating assets, and then speculation begets more speculation, until finally, for some reason that will become obvious to all in hindsight, the "bubble" bursts. First, on valuation : two key measures are house prices to income, and real house prices. The Census Bureau released the Income, Poverty and Health Insurance Coverage in the United States: 2016 in September. The report showed a significant increase in the real median household income: The U.S. Census Bureau announced today that real median household income increased by 3.2 percent between 2015 and 2016 ... Median household income in the United States in 2016 was $59,039, an increase in real terms of 3.2 percent from the 2015 median income of $57,230. This is the second consecutive annual increase in median household income. The firs two graphs use annual averages of the Case-Shiller house price index - and the nominal median household income (and the mean for the fourth fifth income) through 2016. Click on graph for larger image. This graph shows the ratio of house price indexes divided by the Median Household Income through 2016 (the HPI is first multiplied by 1000). This uses the annual average National Case-Shiller index since 1976. As...
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 2:22 PM » Savings rate hits near-decade low amid rush into stocks and corporate bonds
    Published Mon, Oct 30 2017 2:22 PM by CNBC
    Americans are saving at the lowest pace in nearly 10 years, a sign of growing confidence as money pours into risk.
  • 1:47 PM » Why breakouts in the dollar, Treasurys matter for the broader market
    Published Mon, Oct 30 2017 1:47 PM by CNBC
    The U.S. dollar index and 10-year Treasury yield recently broke above resistance levels.
  • 12:56 PM » Know the Competition: Who's Buying Homes, Who's Selling—and Who's Not?
    Published Mon, Oct 30 2017 12:56 PM by www.realtor.com
    With soaring rental prices, low mortgage rates, and a good economy, it seems everyone wants to buy a home. But certain folks are more likely to buy-or sell. The post Know the Competition: Who’s Buying Homes, Who’s Selling-and Who’s Not? appeared first on Real Estate News & Insights | realtor.com® .
    Click Here to Read the Full Article

    Source: www.realtor.com
  • 12:04 PM » House reportedly considering phasing in corporate tax rate reduction
    Published Mon, Oct 30 2017 12:04 PM by CNBC
    Republicans are considering phasing-in a corporate tax rate reduction in its tax reform plan, according to a Bloomberg News report.
  • 11:14 AM » Trump expected to announce his choice for Fed chair on Thursday
    Published Mon, Oct 30 2017 11:14 AM by Reuters
    WASHINGTON (Reuters) - U.S. President Donald Trump is expected to announce his choice to chair the Federal Reserve on Thursday, a White House official said on Monday.
  • 11:11 AM » Homebuyers Are Invited to Learn How to "Block and Tackle" Their Way to the House of Their Dreams with New Ally Home Mortgage Playbook
    Published Mon, Oct 30 2017 11:11 AM by PR Newswire
    SANDY, Utah, Oct. 30, 2017 /PRNewswire/ -- Fall is here and everyone knows that means football season. In keeping with this spirit, Ally Home, Ally Bank's direct-to-consumer mortgage business, today is kicking off availability of The Mortgage Playbook. The Mortgage Playbook is a free,...
  • 10:46 AM » Dallas Fed: "Growth in Texas Manufacturing Activity Gains Momentum" in October
    Published Mon, Oct 30 2017 10:46 AM by Calculated Risk Blog
    From the Dallas Fed: Growth in Texas Manufacturing Activity Gains Momentum Texas factory activity expanded at a faster pace in October, according to business executives responding to the Texas Manufacturing Outlook Survey. The production index, a key measure of state manufacturing conditions, rose six points to 25.6 and reached its highest reading since April 2014. Other measures of current manufacturing activity also indicated a pickup in growth. The new orders index climbed six points to a 10-year high of 24.8, and the growth rate of orders index moved up to 12.3. The capacity utilization index also pushed to its highest level in a decade at 22.5. Meanwhile, the shipments index moved down several points but remained positive and at a well-above-average level of 20.9. Perceptions of broader business conditions improved in October. The general business activity index increased to 27.6, its highest reading since 2006 . The company outlook index posted its 14th consecutive positive reading, holding steady at an elevated 25.8. Labor market measures suggested solid employment growth and longer workweeks this month. The employment index came in at 16.7, unchanged from September and still well above average. Less than 5 percent of firms noted net layoffs-something that has only been seen five other times since the start of the survey more than 13 years ago. The hours worked index moved down but remained positive at 13.7, indicating a continuing lengthening of workweeks. emphasis added This was the last of the regional Fed surveys for October. Here is a graph comparing the regional Fed surveys and the ISM manufacturing index: Click on graph for larger image. The New York and Philly Fed surveys are averaged together (yellow, through October), and five Fed surveys are averaged (blue, through October) including New York, Philly, Richmond, Dallas and Kansas City. The Institute for Supply Management (ISM) PMI (red) is through September (right axis). Based on these regional surveys...
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 10:16 AM » Study: U.S. Firms Are Worried About the Economy, Building Reserves at a Record Pace
    Published Mon, Oct 30 2017 10:16 AM by PR Newswire
    BETHESDA, Md., Oct. 30, 2017 /PRNewswire/ -- The AFP Corporate Cash Indicators® index, recording changes in cash and short-term investments over the past quarter, shot to its highest reading since it debuted in January 2011, signaling that corporate treasury and finance executives are...
  • 10:01 AM » A new survey shows high home prices are hitting first-time buyers harder than ever
    Published Mon, Oct 30 2017 10:01 AM by CNBC
    Home sales to first-time buyers fell to 34 percent in 2017, down from 35 percent in 2016, according to the National Association of Realtors.
  • 9:35 AM » Florida Accounts for Much of Nationwide Decrease in Employment
    Published Mon, Oct 30 2017 9:35 AM by eyeonhousing.org
    According to the Bureau of Labor Statistics, nonfarm payroll employment increased in 28 states and decreased in 23 states and the District of Columbia in September 2017 compared to August 2017. Although the majority of states recorded a monthly increase, the decline across the state of Florida was large enough to offset those gains. As a result, payroll employment nationwide... Read More ›
    Click Here to Read the Full Article

    Source: eyeonhousing.org
  • 9:20 AM » Black Knight Home Price Index Report: August 2017 Transactions
    Published Mon, Oct 30 2017 9:20 AM by www.bkfs.com
    Black Knight Home Price Index Report: August 2017 Transactions<br/>http://www.bkfs.com/CorporateInformation/NewsRoom/Pages/20171030.aspx
  • 9:03 AM » U.S. consumer spending grows at fastest pace since 2009
    Published Mon, Oct 30 2017 9:03 AM by Reuters
    WASHINGTON (Reuters) - U.S. consumer spending recorded its biggest increase in more than eight years in September, likely as households in Texas and Florida replaced flood-damaged motor vehicles, but underlying inflation remained muted.
  • 8:21 AM » Cash Sales Retreat as a Share of New Home Purchases
    Published Mon, Oct 30 2017 8:21 AM by eyeonhousing.org
    NAHB analysis of the most recent Quarterly Sales by Price and Financing published by the Census Bureau reveals that cash sales accounted for just 4.8% of the total, down from 6.5% in the second quarter. FHA-loans financed 14.3% of new home sales during the third quarter of 2017. As of the second quarter of 2017, the share of sales financed with FHA-backed... Read More ›
    Click Here to Read the Full Article

    Source: eyeonhousing.org
  • 8:21 AM » Bond Traders Face Their Fears in Week That May Change Everything
    Published Mon, Oct 30 2017 8:21 AM by Bloomberg
    Bloomberg Bond Traders Face Their Fears in Week That May Change Everything Bloomberg This week is fraught with peril for Treasuries traders, no matter if they're bulls or bears. The next five trading days will bring a torrent of market-moving information: President Donald Trump is poised to finally announce his nominee to lead the ... and more »
  • 8:11 AM » Paul Manafort Is Reportedly Told To Surrender To Federal Agents
    Published Mon, Oct 30 2017 8:11 AM by www.npr.org
    Both Paul Manafort President Trump's former campaign chairman, and a close associate were told to surrender, The New York Times reports.
  • Fri, Oct 27 2017
  • 2:41 PM » Barclays and US Renew Talks Over Toxic Mortgages Lawsuit
    Published Fri, Oct 27 2017 2:41 PM by Bloomberg
    Barclays and US Renew Talks Over Toxic Mortgages Lawsuit Bloomberg Barclays Plc and the U.S. Justice Department, engaged in a legal battle over the suspected fraudulent sale of mortgage securities a decade ago, have revived discussions about reaching an out-of-court settlement, Bloomberg News reports. The Justice ...
  • 2:41 PM » Treasuries Gain After Report That Trump Is Leaning Toward Powell for Fed Chair
    Published Fri, Oct 27 2017 2:41 PM by Bloomberg
    Bloomberg Treasuries Gain After Report That Trump Is Leaning Toward Powell for Fed Chair Bloomberg Treasuries rose, pushing yields down from seven-month highs, on a report that President Donald Trump is leaning toward nominating Federal Reserve Governor Jerome Powell to lead the U.S. central bank, a move that would signal continuity for monetary ... and more »
  • 12:54 PM » Weidmann Says ECB Should Have Set Clear End Date for Bond Buying
    Published Fri, Oct 27 2017 12:54 PM by Bloomberg
    Bloomberg Weidmann Says ECB Should Have Set Clear End Date for Bond Buying Bloomberg The European Central Bank should have decided on an end date for its asset-purchase program rather than retaining the option to extend it after September 2018, Bundesbank President Jens Weidmann said. "From my point of view, a clear end of net ... and more »
  • 12:28 PM » How to know when you should drop the asking price on your home
    Published Fri, Oct 27 2017 12:28 PM by CNBC
    Sellers: Here's when to drop your home price
  • 12:02 PM » Hurricanes only trimmed a few tenths from Q3 GDP growth: economists
    Published Fri, Oct 27 2017 12:02 PM by Market Watch
    Hurricanes Harvey and Irma only trimmed a few tenths from third quarter GDP growth as the goods sector quickly recovered, economists said Friday.
  • 11:18 AM » Rising home prices and stagnant wages have home buyers in a pickle
    Published Fri, Oct 27 2017 11:18 AM by CNBC
    Home ownership remains elusive for many Americans a decade after the collapse of the real estate market.
  • 10:52 AM » Bond Volatility Shows Signs of Life as Rates Divergence Widens
    Published Fri, Oct 27 2017 10:52 AM by Bloomberg
    Bloomberg Bond Volatility Shows Signs of Life as Rates Divergence Widens Bloomberg As U.S. Treasury yields climb to the highest in seven months, volatility in the bond market is also trending up. Bank of America Merrill Lynch's MOVE Index, a gauge of price swings in the U.S. Treasury market, is close to the highest since May and its ... and more »
  • 10:20 AM » Trump is leaning towards Jay Powell for next Fed chair, but remains undecided: Source
    Published Fri, Oct 27 2017 10:20 AM by CNBC
    Trump is leaning towards Jay Powell for next Fed chair, but remains undecided: Source|| 104789361
  • 10:10 AM » Consumer sentiment ticks down after hitting 7-month highs earlier in October
    Published Fri, Oct 27 2017 10:10 AM by CNBC
    Consumer confidence was expected to hit 100.9 in October.
  • 10:03 AM » It's Going to Stay a Yellen Fed No Matter Who Gets the Job
    Published Fri, Oct 27 2017 10:03 AM by Bloomberg
    Bloomberg It's Going to Stay a Yellen Fed No Matter Who Gets the Job Bloomberg It's going to be Janet Yellen's Federal Reserve no matter who is the next chair. With every headline, financial markets get jolted as investors guess whether President Donald Trump will re-nominate Yellen to the helm of the U.S. central bank or opt for ... and more »
  • 9:31 AM » Catalan parliament votes to start 'constituent process' to split from Spain
    Published Fri, Oct 27 2017 9:31 AM by Reuters
    MADRID (Reuters) - The regional parliament of Catalonia on Friday voted a motion to begin a "constituent process" to split from Spain shortly before beginning a secret vote on whether or not to declare independence from the rest of the country.
  • 8:06 AM » U.S. economy likely slowed by hurricanes in third quarter
    Published Fri, Oct 27 2017 8:06 AM by Reuters
    WASHINGTON (Reuters) - U.S. economic growth probably slowed in the third quarter as hurricanes Harvey and Irma restrained consumer spending and undercut construction activity, but underlying momentum likely remained strong amid robust business investment on equipment.
  • Thu, Oct 26 2017
  • 3:27 PM » Luxury homes can't keep up with high demand
    Published Thu, Oct 26 2017 3:27 PM by CNBC
    The lack of supply that has been plaguing the nation's housing market has finally caught up to the priciest homes.
  • 3:27 PM » Why volatility could suddenly return to the markets in November
    Published Thu, Oct 26 2017 3:27 PM by CNBC
    Next week could be pivotal for markets when Trump names a new Fed chair and Congress unveils a long-awaited tax bill.
  • 3:04 PM » The most annoying thing about Loan Depot CEO Anthony Hsieh on LinkedIn
    Published Thu, Oct 26 2017 3:04 PM by The Basis Point
    Hint: it's not his new LinkedIn face tattoos, because those look amazing. The post The most annoying thing about Loan Depot CEO Anthony Hsieh on LinkedIn appeared first on The Basis Point .
    Click Here to Read the Full Article

    Source: The Basis Point
  • 1:51 PM » Goldman: "On Course for a December Hike"
    Published Thu, Oct 26 2017 1:51 PM by Calculated Risk Blog
    CR Note: The FOMC meets next week, and no change to policy is expected. However it appears another rate hike is coming at the December meeting. A few brief excerpts from a piece by Goldman Sachs economist Spencer Hill: On Course for a December Hike We expect the FOMC to keep policy unchanged next week and see few substantive changes to the statement. We expect a slightly more upbeat tone on growth that acknowledges the disruptions from the hurricanes but characterizes them as temporary or in the past tense ... Despite the disappointing September CPI report, we do not expect a downgrade of the inflation assessment or outlook, reflecting broadly stable year-over-year inflation and the further decline in the unemployment rate. We expect the statement to acknowledge that balance sheet normalization was "initiated" in October, but we do not expect further discussion of the topic, given the lack of adverse market reaction and the passive nature of the run-off. We also look for the characterization of current policy ("accommodative") to remain unchanged.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 1:49 PM » Paul Ryan is confident he can sweeten tax reform to win over GOP holdouts
    Published Thu, Oct 26 2017 1:49 PM by CNBC
    House leaders are looking for ways to strike a deal with the 20 Republican lawmakers who could be tax reform holdouts.
  • 12:50 PM » A bond market freakout could derail the rally in stocks
    Published Thu, Oct 26 2017 12:50 PM by CNN
    Historically low interest rates are a critical ingredient in the remarkable stock market rally.
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