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  • Fri, Sep 12 2014
  • 3:58 PM » Measuring Progress in the Housing Market
    Published Fri, Sep 12 2014 3:58 PM by blog.hud.gov
    HUD's monthly housing scorecard is our most important tool for tracking the health of the housing market. It shows how effectively our programs are serving the American people and where there is room for improvement. In August, we saw positive overall trends in the housing market, but it's clear many American families and homeowners are […]
  • 3:57 PM » Fed taps Fischer to lead new committee
    Published Fri, Sep 12 2014 3:57 PM by CNBC
    Also on the committee are Fed Governors Lael Brainard and Daniel Tarullo, according to the Fed.
  • 2:57 PM » Off the Charts: Young Households Are Losing Ground in Income, Despite Eduation
    Published Fri, Sep 12 2014 2:57 PM by rss.nytimes.com
    The Fed's 2013 Survey of Consumer Finances indicates that the median family headed by someone under 35 was paid less, in inflation-adjusted dollars, than a similar family in 1989.
    Click Here to Read the Full Article

    Source: rss.nytimes.com
  • 2:57 PM » Wall Street Fed view changes
    Published Fri, Sep 12 2014 2:57 PM by CNBC
    The Federal Reserve is increasingly expected to send a more hawkish message when it meets next week.
  • 2:56 PM » $100 Million Homes Are Outliers . . .
    Published Fri, Sep 12 2014 2:56 PM by The Big Picture
    Source: National Association of Realtors   Expensive home sales have been in the news a lot these days. The Wall Street Journal wrote about a "palatially priced" mansion in Florida listed at $139 million. The Los Angeles Times featured a Beverly Hills mansion listed at $85 million — interestingly, it was built on speculation. Business... Read More
    Click Here to Read the Full Article

    Source: The Big Picture
  • 12:45 PM » Draghi Says ABS Plan Will Proceed Without Government Guarantees - Bloomberg
    Published Fri, Sep 12 2014 12:45 PM by Bloomberg
    Draghi Says ABS Plan Will Proceed Without Government Guarantees Bloomberg Mario Draghi said his plan to purchase higher quality asset-backed securities will proceed even if support from European Union leaders to extend it to riskier debt isn't forthcoming. "The program is primarily oriented to the purchase of senior tranches; only if it's ...
  • 10:20 AM » Why You Might Pencil in a 3.5% Fed Funds Rate in 2017
    Published Fri, Sep 12 2014 10:20 AM by WSJ
    The Wall Street Journal's Daily Report on Global Central Banks for Friday, September 12, 2014. Jon Hilsenrath looks at what the WSJ's latest survey of economic forecasters tells us about the world Fed officials will encounter over the coming three years, and how they might respond to it.
  • 10:20 AM » Fed economists: America's missing workers are not coming back
    Published Fri, Sep 12 2014 10:20 AM by Washington Post
    A paper by Federal Reserve staff that will be discussed at the Brookings Institution on Friday hints at the central bank's thinking on interest rates and employment in advance of a consequential Fed meeting next week. The findings support hawks on the central bank's Federal Open Market Committee, who feel that the Fed needs to prepare to raise rates sooner than expected. Read full article >>
    Click Here to Read the Full Article

    Source: Washington Post
  • 10:19 AM » U.S. consumer sentiment at 14-month high in September
    Published Fri, Sep 12 2014 10:19 AM by Reuters
    NEW YORK (Reuters) - U.S. consumer sentiment rose in September to its highest in more than a year on more upbeat views on the domestic economy in the coming year, a survey released on Friday showed.
  • 10:19 AM » Treasury expands sanctions on Russia over Ukraine conflict
    Published Fri, Sep 12 2014 10:19 AM by Market Watch
    WASHINGTON (MarketWatch) -- The Treasury Department announced expanded sanctions against Russian businesses on Friday in response to "continued Russian efforts to destabilize eastern Ukraine." Russia's largest bank, Sberbank, will no longer have access to long-term debt financing from the U.S. In addition, the U.S. is blocking the assets of five state-owned defense-technology firms. U.S. companies will also be blocked from cooperating with five firms in the Russian energy sector, including Gazprom , Lukoil and Rosneft
  • 10:18 AM » Hands off! Voice-controlled hub for smart homes
    Published Fri, Sep 12 2014 10:18 AM by CNBC
    One device is aiming to stand out from the other "smart" gadgets by allowing users to control all their connected devices for their smart-home using their voice.
  • 10:18 AM » US business inventories rise in July
    Published Fri, Sep 12 2014 10:18 AM by CNBC
    Business inventories gained in July, yet its not likely to alter views on 3rd quarter growth.
  • 9:20 AM » U.S. retail sales increase broadly in August
    Published Fri, Sep 12 2014 9:20 AM by Reuters
    WASHINGTON (Reuters) - - U.S. retail sales rose in August as Americans bought automobiles and a range of other goods, which should ease some concerns about consumer spending and support expectations for sturdy growth in the third quarter.
  • 9:19 AM » US bonds decline as investors eye FOMC and Russia
    Published Fri, Sep 12 2014 9:19 AM by CNBC
    U.S. Treasury yields continued to gain on Friday, as investors contemplated new sanctions against Russia.
  • 9:19 AM » The Pros and Cons of being a Real Estate Agent
    Published Fri, Sep 12 2014 9:19 AM by blog.redfin.com
    Would you like a career with a stable and steady income, guaranteed days off and a five-day workweek? Then being a real estate agent is NOT the job for you. Read More The post The Pros and Cons of being a Real Estate Agent appeared first on Redfin Real Estate Blog .
    Click Here to Read the Full Article

    Source: blog.redfin.com
  • 9:19 AM » Disparate impact cases against HUD: Illinois federal court issues decision; update on D.C. case
    Published Fri, Sep 12 2014 9:19 AM by www.cfpbmonitor.com
    Alan S. Kaplinsky Because of their potential impact on the CFPB’s conclusion that the ECOA and Regulation B encompass disparate impact claims, we have been following two insurance industry lawsuits involving a challenge to HUD’s Federal Housing Act (FHA) disparate impact rule, with one lawsuit filed in federal district court in D.C. and the other filed in an... More >
    Click Here to Read the Full Article

    Source: www.cfpbmonitor.com
  • 9:18 AM » U.S. import prices post largest decline in nine months
    Published Fri, Sep 12 2014 9:18 AM by Reuters
    WASHINGTON (Reuters) - U.S. import prices recorded their biggest drop in nine months in August as a sharp decline in the cost of petroleum products eclipsed rising food prices, keeping imported inflation pressures subdued.
  • 12:44 AM » Banks Sweeten Jumbo Terms
    Published Fri, Sep 12 2014 12:44 AM by WSJ
    Instead of selling mortgages on the secondary market, large lenders are keeping them on their books and reaping the profits themselves. That may lead to better terms for borrowers.
  • 12:44 AM » Yellen faces a big challenge: McCulley
    Published Fri, Sep 12 2014 12:44 AM by CNBC
    The Fed wants to raise interest rates, but this is Janet Yellen's big challenge, Pimco's Paul McCulley said.
  • 12:44 AM » August California Home Sales Press Release
    Published Fri, Sep 12 2014 12:44 AM by DataQuick
    California August Home Sales September 11, 2014 An estimated 37,228 new and resale houses and condos sold statewide in August. That was down 6.0 percent from 39,608 in July, and down 12.5 percent from 42,546 sales in August 2013, according to CoreLogic DataQuick data. August sales have varied from a low of 29,764 in 1992 to a high of 73,285 in 2005. Last month's sales were 21.6 percent below the average of 47,456 sales for all the months of August since 1988, when Irvine-based CoreLogic DataQuick's statistics begin. California sales haven't been above average for any month in more than eight years. The median price paid for a home in California last month was $393,000, up 0.3 percent from $392,000 in July and up 8.9 percent from $361,000 in August 2013. Last month was the 30th consecutive month in which the state's median sale price rose year-over-year. In March/April/May 2007 the median peaked at $484,000. The post-peak trough was $221,000 in April 2009. Of the existing homes sold last month, 5.4 percent were properties that had been foreclosed on during the past year. That was down from 5.6 percent in July and down from 7.8 percent a year earlier. Foreclosure resales peaked at 58.8 percent in February 2009. Short sales - transactions where the sale price fell short of what was owed on the property - made up an estimated 6.0 percent of the homes that resold last month. That was unchanged from the month before and down from 11.4 percent a year earlier. The typical monthly mortgage payment that California buyers committed themselves to paying last month was $1,523, up from $1,521 the month before and up from $1,456 a year earlier. Adjusted for inflation, last month's payment was 35.5 percent below the typical payment in spring 1989, the peak of the prior real estate cycle. It was 47.7 percent below the current cycle's peak in June 2006. It was 61.8 percent above the January 2012 bottom of the current cycle. Source: CoreLogic DataQuick; DQNews.com...
  • Thu, Sep 11 2014
  • 4:04 PM » Treasury Auctions Attract Most Foreign Demand Since February - Bloomberg
    Published Thu, Sep 11 2014 4:04 PM by Bloomberg
    Treasury Auctions Attract Most Foreign Demand Since February Bloomberg Sept. 11 (Bloomberg) --Treasury auctions this week attracted the strongest demand since February from a class of investors that includes foreign central banks as the plunge in European yields spurred demand for higher-returning U.S. debt. Indirect bidders ... and more »
  • 4:04 PM » Speech Mario Draghi: Keynote speech at the Eurofi Financial Forum
    Published Thu, Sep 11 2014 4:04 PM by www.ecb.europa.eu
    Speech Mario Draghi: Keynote speech at the Eurofi Financial Forum<br/>http://www.ecb.europa.eu/press/key/date/2014/html/sp140911_1.en.html
    Click Here to Read the Full Article

    Source: www.ecb.europa.eu
  • 3:35 PM » Loan Forgiveness Isn't the Best Use of Government Resources, Paper Says
    Published Thu, Sep 11 2014 3:35 PM by WSJ
    A new paper says that government policies to fund mortgage debt reduction for underwater homeowners are a less efficient use of government resources than other types of mortgage relief, including refinancing.
  • 3:35 PM » House approves bill allowing businesses to keep canceled health care plans until 2019
    Published Thu, Sep 11 2014 3:35 PM by Washington Post
    House lawmakers have approved an amendment to the president's health care law intended to make the looming changes an easier pill to swallow for small businesses and their employees. However, like so many other proposed changes to the statute, some say the bill threatens to pull the legs out from under the law. Read full article >>
    Click Here to Read the Full Article

    Source: Washington Post
  • 3:35 PM » US Budget Deficit for 11 Months Shrinks 22% as Economy Grows - Bloomberg
    Published Thu, Sep 11 2014 3:35 PM by Bloomberg
    US Budget Deficit for 11 Months Shrinks 22% as Economy Grows Bloomberg The U.S. budget deficit narrowed 22 percent in the first 11 months of the fiscal year as accelerating economic growth boosted tax receipts, Treasury Department figures showed. The budget gap as a share of the economy is on a path to shrink this year to the ... and more »
  • 1:15 PM » August Bay Area Home Sale Press Release
    Published Thu, Sep 11 2014 1:15 PM by DataQuick
    Bay Area Home Sales Slow in August; Prices Increases Ease Back September 11, 2014 Irvine, CA.----The number of Bay Area homes that sold last month declined again, as potential buyers continued to struggle with constrained supply, tricky mortgage availability and affordability issues. The median price paid for a Bay Area home dropped somewhat, as it usually does from July to August, a real estate information service reported. A total of 7,578 new and resale houses and condos sold in the nine-county Bay Area last month. That was down 10.6 percent from 8,474 in July and down 12.0 percent from 8,616 in August last year, according to CoreLogic DataQuick data. August sales have varied from 6,688 in August 1992 to 13,940 in August 2004. The average since 1988, when CoreLogic DataQuick's statistics begin, is 9,526. "Among the professional number crunchers, there's been talk lately of a 'new normal' and maybe even the need to re-benchmark key statistical indicators like sales and price levels. The fact is that the housing market is still slowly moving back toward long-term norms that were thrown out of whack back during the Great Recession. The most congestion in the various pipelines that comprise the housing market today is caused by abnormalities in the mortgage market," said John Karevoll, an analyst with Irvine-based CoreLogic DataQuick. The median price paid for a home in the nine-county Bay Area was $607,000 in August. That was down 1.6 percent from $617,000 in July, and up 12.4 percent from $540,000 in August a year ago. A seasonal late-summer decline in median price is normal in the Bay Area. The Bay Area's median sale price peaked at $665,000 in June and July 2007, then dropped to a low of $290,000 in March 2009. While bouncing around somewhat from month to month, a variety of market indicators are trending incrementally toward long-term norms. Jumbo loans, mortgages above the old conforming limit of $417,000, accounted for 58.2 percent of...
  • 1:15 PM » Fewer Economists See Fed Rate Hikes Starting Before Next Summer
    Published Thu, Sep 11 2014 1:15 PM by WSJ
    Fewer economists expect the Federal Reserve will begin raising interest rates early next year, according to a survey by The Wall Street Journal in recent days, after the Labor Department released a disappointing August employment report.
  • 1:14 PM » About That FHA Prepayment Penalty . . .
    Published Thu, Sep 11 2014 1:14 PM by Realtor.Org
    News that FHA will eliminate a prepayment penalty starting next year has been widely reported. It’s a move NAR has been seeking for some time because it will relieve borrowers of a financial hit that’s entirely out of their control and also bring the agency’s policies in line with other federal agencies that backstop mortgages. […]
  • 10:32 AM » Mortgage Rates Continue to Show Little Movement
    Published Thu, Sep 11 2014 10:32 AM by freddiemac.mwnewsroom.com
    Mortgage Rates Continue to Show Little Movement
    Click Here to Read the Full Article

    Source: freddiemac.mwnewsroom.com
  • 9:18 AM » U.S. jobless claims rise unexpectedly, but still at pre-recession levels
    Published Thu, Sep 11 2014 9:18 AM by Reuters
    WASHINGTON (Reuters) - WASHINGTON, Sept 11 (Reuters) - The number of Americans filing new claims for unemployment benefits unexpectedly rose last week, but that probably does not signal a material shift in labor market conditions as claims remain near their pre-recession levels.
  • 9:18 AM » Bond Report: Treasurys rise for first session in six
    Published Thu, Sep 11 2014 9:18 AM by Market Watch
    Treasury prices rise as investors focus on growing warfare in the Middle east.
  • 9:14 AM » First rise in foreclosure auctions in nearly four years
    Published Thu, Sep 11 2014 9:14 AM by CNN
    Foreclosures are up for the first time in nearly four years. But housing experts aren't worried.
  • 9:13 AM » How to shop for the best mortgage rate
    Published Thu, Sep 11 2014 9:13 AM by CNBC
    Mortgage rates are expected to move higher soon, and that makes shopping for the right rate critical. Here are some tips.
  • 9:13 AM » Foreclosure activity picks up in August
    Published Thu, Sep 11 2014 9:13 AM by CNBC
    U.S. foreclosure activity jumped in August for the second consecutive month as banks started the process on more properties.
  • 9:13 AM » 2015-2017 Enterprise Housing Goals
    Published Thu, Sep 11 2014 9:13 AM by www.federalregister.gov
    The Federal Housing Finance Agency (FHFA) is issuing a proposed rule with request for comments regarding the housing goals for Fannie Mae and Freddie Mac (the Enterprises). The Federal Housing Enterprises Financial Safety and Soundness Act of 1992, as amended, (the Safety and Soundness Act) requires FHFA to establish annual housing goals for mortgages purchased by the Enterprises. The housing goals include separate categories for single-family and multifamily mortgages on housing that is affordable to low-income and very low- income families, among other categories. The existing housing goals for the Enterprises remain in effect through the end of 2014. This proposed rule would update the benchmark levels for each of the housing goals and subgoals for 2015 through 2017. The proposed rule would also establish a new housing subgoal for small multifamily properties affordable to low-income families. The proposed rule presents three alternatives for determining whether an Enterprise has met the single-family housing goals. The first option would keep the current approach, which compares the performance of the Enterprise both to a benchmark level and to a retrospective market level. The second option would use a benchmark level only, and the third option would use a retrospective market level only. The proposed rule would also revise a number of other provisions in order to provide greater clarity on the mortgages eligible for goal or subgoal categories. Specific changes include rules for counting shared living spaces such as student housing and rules for skilled nursing and seniors housing units. In addition, the proposed rule would make a number of clarifying and conforming changes, including revisions to the definitions of ``rent'' and ``utilities'' and to the rules for determining affordability of both single-family and multifamily units. FHFA also plans to require more detailed Enterprise reporting on their purchases of mortgages on single...
    Click Here to Read the Full Article

    Source: www.federalregister.gov
  • Wed, Sep 10 2014
  • 4:33 PM » Get That Revolving Balance Below 50 Percent
    Published Wed, Sep 10 2014 4:33 PM by Realtor.Org
    There’s a good chance the people you’re helping to buy a home will have a limited understanding of their credit score and whether they need to do anything with it before they enter the market. To help you advise your customers on the matter, we sat down with Neekia McCoy, vice president for consumer lending […]
  • 4:32 PM » Freddie Mac Prices New STACR HQ2 Credit Risk Sharing Transaction of Higher LTV Loans
    Published Wed, Sep 10 2014 4:32 PM by freddiemac.mwnewsroom.com
    Freddie Mac Prices New STACR HQ2 Credit Risk Sharing Transaction of Higher LTV Loans
    Click Here to Read the Full Article

    Source: freddiemac.mwnewsroom.com
  • 2:16 PM » Worker Compensation Stalls in Second Quarter
    Published Wed, Sep 10 2014 2:16 PM by WSJ
    Growth in worker compensation nearly stalled this spring as wages stagnated and health benefits fell.
  • 2:07 PM » Bank of America DOJ settlement "important milestone": CFO
    Published Wed, Sep 10 2014 2:07 PM by Market Watch
    NEW YORK (MarketWatch) -- Bank of America Corp. has put most of its legacy issues from the financial crisis behind it and it was a "milestone" for the company, said the bank's CFO Bruce Thompson, speaking at a conference in New York on Wednesday. "While we are not completely done with our legacy issues, we have put most of them in the rearview mirror," said Thompson. Bank of America settled with the Department of Justice for $16.65 billion in August over claims of the bank sold shoddy mortgage products to investors. Thompson said the bank was well-capitalized and was well-positioned for rising rates. The bank's planned cost savings of $2 billion expected mid-2015, would happen earlier than expected, at the end of this year. When asked about trading revenues, the CFO said he expects to be in-line with peers, July was a reasonable month, August was typically slower. Bank of America shares were up 0.62% in trading and have been up more than 4% year-to-date.
  • 12:10 PM » Residential Property Values increased 7.4% year-over-year in July
    Published Wed, Sep 10 2014 12:10 PM 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 July index data today. FNC reported that their Residential Price Index™ (RPI) indicates that U.S. residential property values increased 0.6% from June to July (Composite 100 index, not seasonally adjusted). The other RPIs (10-MSA, 20-MSA, 30-MSA) increased between 0.4% and 0.6% in July. These indexes are not seasonally adjusted (NSA), and are for non-distressed home sales (excluding foreclosure auction sales, REO sales, and short sales).
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
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More From MND

Mortgage Rates:
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  • 15 Yr FRM 3.30%
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  • Jumbo 30 Year Fixed 4.00%
MBS Prices:
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  • 30YR FNMA 5.0 110-12 (0-02)
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Recent Housing Data:
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  • FHFA Home Price Index 0.67%