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  • Tue, Feb 17 2015
  • 10:18 AM » Greece Is Using Its Emergency Liquidity Allowance Fast
    Published Tue, Feb 17 2015 10:18 AM by Bloomberg
    Greece Is Using Its Emergency Liquidity Allowance Fast Bloomberg The European Central Bank has capped the Bank of Greece's scope for emergency liquidity to Greek banks at €65 billion ($74.2 billion). Figures released on Tuesday by the European Central Bank as part of its weekly financial statement show that ELA usage ... and more »
  • 10:05 AM » Builder sentiment chills in Feb.: Down 2 points
    Published Tue, Feb 17 2015 10:05 AM by CNBC
    Sentiment among single family U.S. home builders chilled in February, right along with temperatures across much of the nation.
  • 8:45 AM » El-Erian: Grexit would not be a major catastrophe
    Published Tue, Feb 17 2015 8:45 AM by CNBC
    Mohamed El-Erian, chief economic adviser at Allianz, tells CNBC a Greek exit from the euro would cause "short-term chaos," but it would not bring the global economy to its knees.
  • 8:45 AM » U.S. Economic Confidence at +3 for Third Straight Week
    Published Tue, Feb 17 2015 8:45 AM by www.gallup.com
    Gallup's U.S. Economic Confidence Index remains at +3 for the third week in a row. Since emerging from negative territory for the first time almost two months ago, the index hasn't strayed from its narrow range in positive territory.
    Click Here to Read the Full Article

    Source: www.gallup.com
  • 8:43 AM » BofA Merrill Lynch Fund Manager Survey Finds Investors Exuberantly Bullish on Europe After Promise of ECB Action
    Published Tue, Feb 17 2015 8:43 AM by newsroom.bankofamerica.com
    Dateline City: NEW YORK Weakening Expectations in China Limit Impact on Global Growth Outlook Global investors are significantly more positive on the outlook for Europe after the European Central Bank's announcement of quantitative easing to reflate the region's economy, according to the BofA Merrill Lynch Fund Manager Survey for February. Europe's profit outlook is at its best since 2009, according to panel members. A net 81 percent of regional specialists see the economy strengthening in the next year. Against this background, a record net 51 percent make the region their top pick in equities over a one-year horizon, up from January's net 18 percent. A net 55 percent are already overweight. The U.S. has been the main loser from this rotation. Overweights on U.S. equities have declined to a net 6 percent, down 18 points versus last month. Overall, fund managers have increased their allocations both to stocks (a net 57 percent overweight, up six points month-on-month) and cash (a net 22 percent overweight, a five-point rise). This is at the expense of bonds, which are now seen as overvalued by a net 79 percent. Bonds are also perceived as the asset class most vulnerable to increased volatility this year. Despite exuberance over Europe, the global growth outlook is little changed. This reflects declining expectations on China. A net 58 percent of respondents now expect that country's economy to weaken over the next 12 months, the survey's lowest reading on this measure in nearly two years. "The ECB has successfully vanquished global deflation fears and induced the return of reflation trades in February," said Michael Hartnett, chief investment strategist at BofA Merrill Lynch Research. "Sentiment has gotten ahead of the fundamentals on European equities. It is as if there is not a single bear left. We will need to see a strong recovery very soon to keep the bulls happy," said Manish Kabra, European equity and quantitative strategist...
    Click Here to Read the Full Article

    Source: newsroom.bankofamerica.com
  • 8:43 AM » Bond strategist to CNBC: 'Get out of bonds'
    Published Tue, Feb 17 2015 8:43 AM by CNBC
    With fixed-income yields at record lows, a senior broker has told CNBC that now is the perfect time for investors to sell and move into equities.
  • Mon, Feb 16 2015
  • 6:51 PM » Cleveland Fed President Mester: June Rate Increase Is ‘Viable Option'
    Published Mon, Feb 16 2015 6:51 PM by WSJ
    Cleveland Fed President Loretta Mester wants the central bank to open the door to raising its benchmark short-term interest rate in June by moving away from assurances of continued low rates.
  • 6:33 PM » Low down payments make a comeback
    Published Mon, Feb 16 2015 6:33 PM by CNN
    Borrowers who have steady income and good credit, but not much money in the bank, will find that it recently became easier to buy a home.
  • 4:46 PM » Talks Collapse, As Greece Rejects E.U. Bailout Deal
    Published Mon, Feb 16 2015 4:46 PM by www.npr.org
    Four hours after they started, both parties walked out of the talks and reiterated their hard lines. Now, Greece's membership in the currency bloc is in question.
  • 1:07 PM » Greek Bonds Decline With Stocks as Schaeuble Skeptical on Talks
    Published Mon, Feb 16 2015 1:07 PM by Bloomberg
    Greek Bonds Decline With Stocks as Schaeuble Skeptical on Talks Bloomberg (Bloomberg) -- Greek bonds and stocks declined for the first time in three days as the nation's euro-area creditors voiced doubt that a new financing agreement for the country was taking shape. Greece's three-year notes pared their biggest two-day advance ...
  • 1:07 PM » Euro-Area Finance Ministers' Talks With Greece Break Up on Rift
    Published Mon, Feb 16 2015 1:07 PM by Bloomberg
    Euro-Area Finance Ministers' Talks With Greece Break Up on Rift Bloomberg German Finance Minister Wolfgang Schaeuble speaks to the press as he arrives to attend an Eurogroup Finance ministers meeting at the European Council in Brussels, on Feb. 16, 2015. Photographer: Virginia Mayo/AP Photo ...
  • 1:06 PM » More than one in three FHA borrowers could save money by refinancing today
    Published Mon, Feb 16 2015 1:06 PM by Google News
    President Obama announced during the first week of January that there would be a 0.5 percentage point cut in the Federal Housing Administration's (FHA) annual Mortgage Insurance Premium (MIP) - from 1.35 percent to 0.85 percent. Since the announcement, economists have tried to estimate the number of existing FHA borrowers that could benefit from refinancing […]
  • 1:06 PM » Citigroup, Goldman, UBS in $235 million mortgage settlement
    Published Mon, Feb 16 2015 1:06 PM by Reuters
    NEW YORK (Reuters) - Citigroup Inc , Goldman Sachs Group Inc and UBS AG agreed to pay $235 million in cash to settle U.S. litigation accusing them of concealing the risks of mortgage securities sold by the former Residential Capital LLC before the global financial crisis.
  • Fri, Feb 13 2015
  • 4:27 PM » "Hack Housing" Spurs Private Sector Innovation through Open Data
    Published Fri, Feb 13 2015 4:27 PM by blog.hud.gov
    On February 6-8, over 200 software developers, designers and makers gathered at the Zillow headquarters in downtown Seattle for "Hack Housing," a hackathon co-hosted by Zillow and the University of Washington. Teams of programmers spent the weekend using open data to build apps that help people find affordable, accessible places to live - and pitching […]
  • 4:26 PM » ECB'S Constâncio: QE Criticisms Not Well-Founded
    Published Fri, Feb 13 2015 4:26 PM by WSJ
    Critics of the European Central Bank's bond-buying program are wrong to say low yields on government bonds mean the policy will be ineffective, a senior ECB official said Friday.
  • 3:31 PM » Consumer spending: Why it's a mystery
    Published Fri, Feb 13 2015 3:31 PM by CNBC
    Wall Street isn't seeing strong consumer spending in retail sales. Is it looking in the wrong place?
  • 3:25 PM » BofA, Citigroup, JPMorgan Offering $4.5 Billion of Loans - Bloomberg
    Published Fri, Feb 13 2015 3:25 PM by Bloomberg
    BofA, Citigroup, JPMorgan Offering $4.5 Billion of Loans Bloomberg (Bloomberg) -- Lenders including Bank of America Corp. and Citigroup Inc. are accelerating their sales of soured U.S. mortgages as investment firms compete to buy the debt. Bank of America is offering $2.56 billion of troubled debt, consisting of ...
  • 1:12 PM » No, EVERYTHING Is NOT A Forecast
    Published Fri, Feb 13 2015 1:12 PM by The Big Picture
    As one of those folks who has spent a lot of time bashing economic and stock-market forecasters (see this, this, and this), I have no choice but to take issue with an argument made by former hedge-fund manager Jesse Felder, who asserts “that everything is a forecast.” Toquote Felder: Can we please stop bashing forecasters already? There is a... Read More
    Click Here to Read the Full Article

    Source: The Big Picture
  • 1:10 PM » What investors need to understand about Greece's new leaders
    Published Fri, Feb 13 2015 1:10 PM by Market Watch
    Prime Minister Alexis Tsipras isn't cut from the same cloth as his predecessors, and there are more like him waiting in the wings.
  • 12:38 PM » Energy expenditures as a percentage of consumer spending
    Published Fri, Feb 13 2015 12:38 PM by Calculated Risk Blog
    Here is a graph of expenditures on energy goods and services as a percent of total personal consumption expenditures through December 2014. This is one of the measures that Professor Hamilton at Econbrowser looks at to evaluate any drag on GDP from energy prices. Click on graph for larger image. Data source: BEA Table 2.3.5U . The huge spikes in energy prices during the oil crisis of 1973 and 1979 are obvious. As is the increase in energy prices during the 2001 through 2008 period. With the recent decline in energy prices, this ratio has declined sharply.  Hopefully energy prices are resuming their long term down trend as a percent of PCE.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 11:00 AM » Yes, Yellen Can Have It All as She Gets Ready to Raise Rates
    Published Fri, Feb 13 2015 11:00 AM by Bloomberg
    Bloomberg Yes, Yellen Can Have It All as She Gets Ready to Raise Rates Bloomberg Janet Yellen, chair of the U.S. Federal Reserve, speaks during a news conference following a Federal Open Market Committee (FOMC) meeting in Washington, D.C., U.S., on Wednesday, Sept. 17, 2014. Photographer: Andrew Harrer/Bloomberg ...
  • 10:59 AM » FDIC Releases Additional Technical Assistance Video on CFPB Mortgage Rules
    Published Fri, Feb 13 2015 10:59 AM by content.govdelivery.com
    Press Release FDIC Releases Additional Technical Assistance Video on CFPB Mortgage Rules FOR IMMEDIATE RELEASE February 13, 2015 Media Contact: Greg Hernandez (202) 898-6984 Cell: (202) 340-4922 Email: ghernandez@fdic.gov The Federal Deposit Insurance Corporation (FDIC) today announced the release of the third in a series of three new technical assistance videos developed to assist bank employees in meeting regulatory requirements. These videos address compliance with certain mortgage rules issued by the Consumer Financial Protection Bureau (CFPB). The first video, released on November 19, 2014, covered the Ability to Repay and Qualified Mortgage Rule. The second video, released on January 27, 2015, covered the Loan Officer Compensation Rule. The third video, released today, covers the Mortgage Servicing Rules. The three technical assistance videos are intended for compliance officers and staff responsible for ensuring the bank's mortgage lending and servicing operations comply with CFPB rules. The third video can be accessed at https://www.fdic.gov/regulations/resources/director/technical/servicing.html . "Today's release of the third technical assistance video on the new mortgage rules reflects our ongoing commitment to helping community banks stay up to date on the consumer compliance requirements," said Mark Pearce, Director of the Division of Depositor and Consumer Protection. "Similar to the other recent mortgage rules, the CFPB's mortgage servicing rules include provisions of particular relevance to community banks, and we hope this video provides useful information tailored to community bank operations." The FDIC's technical assistance videos and additional information can be accessed at https://fdic.gov/regulations/resources/director/video.html . # # # Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's banking system. The FDIC insures deposits at the nation's...
    Click Here to Read the Full Article

    Source: content.govdelivery.com
  • 10:59 AM » Bond Report: Signs of eurozone strength push Treasury yields higher
    Published Fri, Feb 13 2015 10:59 AM by Market Watch
    Treasury yields rise Friday after declining for two sessions as signs of renewed growth abroad pushed European and U.S. stocks higher.
  • 9:00 AM » U.S. January import prices post largest drop since 2008
    Published Fri, Feb 13 2015 9:00 AM by Reuters
    WASHINGTON (Reuters) - U.S. import prices recorded their biggest drop in six years in January as prices fell broadly, a sign that domestic inflation pressures could remain muted for a while.
  • 8:50 AM » Watt Homeowner Relief Vies With Fannie-Freddie Health
    Published Fri, Feb 13 2015 8:50 AM by Bloomberg
    Watt Homeowner Relief Vies With Fannie-Freddie Health Bloomberg (Bloomberg) -- Mel Watt, the regulator of Fannie Mae and Freddie Mac, met last month with about two dozen homeowners who owe more on mortgages than their properties are worth. The Americans told Watt of their financial struggles in his Washington office ... and more »
  • Thu, Feb 12 2015
  • 11:03 PM » Finally, Good News for Workers at the Bottom
    Published Thu, Feb 12 2015 11:03 PM by Bloomberg
    Bloomberg Finally, Good News for Workers at the Bottom Bloomberg In the low-paying leisure and hospitality sector, average hourly earnings rose 3.4 percent from January 2014. Photographer: Patrick T. Fallon/Bloomberg. Recommended. Construction At The Tenaska Imperial Solar Energy Center South Project What Apple ...
  • 10:48 PM » U.S. Yield Increase in February Hurts Bondholders to Homebuyers - Bloomberg
    Published Thu, Feb 12 2015 10:48 PM by Bloomberg
    U.S. Yield Increase in February Hurts Bondholders to Homebuyers Bloomberg (Bloomberg) -- From bondholders to home buyers, this month's jump in Treasury yields is starting to bite. U.S. government debt has fallen 1.9 percent in February, headed for the biggest monthly loss since May 2013, based on Bloomberg World Bond Indexes.
  • 10:47 PM » Ackman: Fannie 'best trade ... in capital markets'
    Published Thu, Feb 12 2015 10:47 PM by CNBC
    Bill Ackman professes big belief in the stock of housing giants Fannie Mae and Freddie Mac.
  • 4:32 PM » Shiller's warning to bond investors
    Published Thu, Feb 12 2015 4:32 PM by CNBC
    After calling the stocks and real estate bubbles, Nobel Laureate Robert Shiller now has a new source of concern: The bond market.
  • 4:32 PM » Home Prices Are Up, Supply Is Down—Expect Bidding Wars
    Published Thu, Feb 12 2015 4:32 PM by www.realtor.com
    Home prices rose 6% in Q4 of 2014, according to a new report. And with fewer homes on the market, the battle for properties will be intense. The post Home Prices Are Up, Supply Is Down-Expect Bidding Wars appeared first on Top News .
    Click Here to Read the Full Article

    Source: www.realtor.com
  • 3:15 PM » Here's Exactly What Millennials Want in Real Estate
    Published Thu, Feb 12 2015 3:15 PM by www.realtor.com
    It's easy to figure out an entire generation. We're sure we've cracked the millennials code and know exactly what they hope to find in the housing market. The post Here’s Exactly What Millennials Want in Real Estate appeared first on Top News .
    Click Here to Read the Full Article

    Source: www.realtor.com
  • 3:14 PM » The five major forces driving down mortgage interest rates
    Published Thu, Feb 12 2015 3:14 PM by Google News
    Mortgage interest rates-at 3.59 percent for a 30-year fixed rate loan and 2.92 percent for a 15 year loan-are now at their lowest level since May 2014. Potential homebuyers in the last several years have been consistently hearing that mortgage interest rates are about to go up, but the downward trend of the last year […]
  • 3:14 PM » Greece, Germany Said to Offer Compromises on Aid Terms - Bloomberg
    Published Thu, Feb 12 2015 3:14 PM by Bloomberg
    Greece, Germany Said to Offer Compromises on Aid Terms Bloomberg Greek national flags with a one euro price tag sit for sale at a Euro store in Athens, Greece. Photographer: Kostas Tsironis/Bloomberg. (Bloomberg) -- Greece and Germany are pursuing a deal on the conditions required to continue the Greek bailout as each ...
  • 3:11 PM » Greece is simply 'too big to fail'
    Published Thu, Feb 12 2015 3:11 PM by CNBC
    Here's why markets shouldn't be worried about Greece not honoring past debt agreements, says Michael Yoshikami.
  • 1:53 PM » Fed should not raise rates: Summers
    Published Thu, Feb 12 2015 1:53 PM by CNBC
    The former director of the National Economic Council said Thursday why the Fed should hold off on raising rates.
  • 1:53 PM » ECB not pulling the plug on Greece just yet
    Published Thu, Feb 12 2015 1:53 PM by Market Watch
    The European Central Bank boosts the amount of emergency funding available for Greek banks, according to reports.
  • 1:52 PM » Houses Keep Getting Bigger
    Published Thu, Feb 12 2015 1:52 PM by The Big Picture
    I am having lunch today with Jonathan Miller of Miller Samuel, and that means the latest (and some of the craziest) NYC real estate updates. In honor of this meal, have a look at the long term trend in home sizes in the US:   Source: Treehugger
    Click Here to Read the Full Article

    Source: The Big Picture
  • 12:26 PM » What's up with Miami's condo conundrum?
    Published Thu, Feb 12 2015 12:26 PM by CNBC
    Miami's housing is coming back, except for a troubling drop in condo sales just a more units are set to hit the market.
  • 10:59 AM » First American Leads Title Insurer Rally on Home Refinancings - Bloomberg
    Published Thu, Feb 12 2015 10:59 AM by Bloomberg
    First American Leads Title Insurer Rally on Home Refinancings Bloomberg (Bloomberg) -- First American Financial Corp. led a rally of title insurers after posting earnings that beat analysts' estimates and saying that lower interest rates fueled more refinancings. First American rose 3.7 percent to $36.33 at 10:19 a.m. Thursday in New ...
  • 10:59 AM » ECB raises limit on emergency funding for Greek banks: reports
    Published Thu, Feb 12 2015 10:59 AM by Market Watch
    NEW YORK (MarketWatch) -- The European Central Bank on Thursday boosted the amount of emergency assistance that can be provided to Greek banks by 5 billion euros ($5.7 billion), according to German news reports. That lifts the total amount of funding Greek banks can access through a program known as emergency liquidity assistance, or ELA, to 65 billion euros, reports said. An ECB spokeswoman offered no comment on the reports. In a decision that took effect Wednesday, the ECB earlier this month said it would no longer accept junk-rated Greek government debt as collateral from Greek banks in return for cheap ECB funding loans, but said the banks could continue to tap funding via ELA, which is administered by the Greek central bank. Halting the ability of Greek banks to tap ELA could potentially create a funding crisis for the country's banking sector, analysts have warned.
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