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  • Thu, Apr 27 2017
  • 8:33 AM » ECB leaves rates unchanged, reiterates asset-purchase plans
    Published Thu, Apr 27 2017 8:33 AM by Market Watch
    The European Central Bank, as expected, made no changes to interest rates Thursday and repeated that it could increase the size or lengthen the duration of its asset-buying program if inflation looks set to fall far back below its target of near but just below 2%. The ECB Governing Council left the rate on main refinancing operations at 0% and held the deposit rate paid on funds parked overnight at the bank at minus 0.4%. The rate on the ECB's marginal lending facility remains at 0.25%. As previously announced, the ECB reduced its monthly bond purchases to 60 billion euros beginning in April, a pace the central bank reiterated it would maintain until the end of December, or beyond, if necessary. ECB President Mario Draghi will hold a news conference at 2:30 p.m. Frankfurt time, or 8:30 a.m. Eastern.
  • 8:33 AM » Luxury Housing Market Off to a Strong Start in 2017
    Published Thu, Apr 27 2017 8:33 AM by www.redfin.com
    Trump appointee home purchases contribute to 33 percent price surge in D.C.'s luxury market. The post Luxury Housing Market Off to a Strong Start in 2017 appeared first on Redfin Real-Time .
    Click Here to Read the Full Article

    Source: www.redfin.com
  • 8:31 AM » Why Trump should have ditched the mortgage-interest deduction
    Published Thu, Apr 27 2017 8:31 AM by Market Watch
    Some experts say the mortgage-interest deduction exacerbates inequality in housing.
  • Wed, Apr 26 2017
  • 4:52 PM » Homeownership in the Crosshairs of Latest Tax Plan
    Published Wed, Apr 26 2017 4:52 PM by Google News
    WASHINGTON (April 26, 2017) – Major reforms are needed to lower tax rates and simplify the tax code, but that shouldn’t come at the expense of current and prospective homeowners. That’s according to National Association of Realtors® President William E. Brown, a second-generation Realtor® from Alamo, California and founder of Investment Properties. Brown said that while the President’s tax proposal released today is well-intentioned, it’s a non-starter for homeowners and real estate professionals who see the... Read More
  • 4:51 PM » Freddie Mac Issues Monthly Volume Summary for March 2017
    Published Wed, Apr 26 2017 4:51 PM by freddiemac.mwnewsroom.com
    Freddie Mac Issues Monthly Volume Summary for March 2017
    Click Here to Read the Full Article

    Source: freddiemac.mwnewsroom.com
  • 3:30 PM » Trump Administration Proposes 'Significant' Tax Overhaul And Tax Cut Plan
    Published Wed, Apr 26 2017 3:30 PM by www.npr.org
    The details of the measure will be worked out in talks with Congress; the effect on the deficit is unknown.
  • 3:30 PM » Op-Ed: Here's the biggest problem with Trump's tax plan
    Published Wed, Apr 26 2017 3:30 PM by CNBC
    Trump's tax cut plan is nothing more than a re-run of Reagan's "voodoo economics" and there is no evidence it will pay for itself, says Ron Insana.
  • 3:13 PM » More Homeowners Pay for Repairs With Credit Cards
    Published Wed, Apr 26 2017 3:13 PM by www.realtor.com
    A recent survey found that almost one-third of affluent homeowners, defined as those earning at least $100,000 a year, plan to use credit cards to pay for renovation projects, according to San Diego-based LightStream, the online lending division of SunTrust Banks. The post More Homeowners Pay for Repairs With Credit Cards appeared first on Real Estate News & Advice | realtor.com® .
    Click Here to Read the Full Article

    Source: www.realtor.com
  • 3:13 PM » U.S. House may consider bill to fund government for a week: source
    Published Wed, Apr 26 2017 3:13 PM by Reuters
    WASHINGTON (Reuters) - The U.S. House of Representative could move soon to consider a bill to fund the government for a week to avoid a shutdown at midnight on Friday and buy time to strike a deal for a long-term funding plan, a House Republican source said on Wednesday.
  • 1:44 PM » The White House just outlined its tax plan. Here's what's in it
    Published Wed, Apr 26 2017 1:44 PM by CNBC
    "I think it's clear that the House, the Senate and the administration are all on the same page," Mnuchin said earlier.
  • 12:10 PM » Homebuyer demand suddenly falling off as inventory keeps shrinking
    Published Wed, Apr 26 2017 12:10 PM by CNBC
    Demand from homebuyers fell 14 percent in March compared to February, according to an index from Redfin.
  • 12:10 PM » New Home Prices
    Published Wed, Apr 26 2017 12:10 PM by Calculated Risk Blog
    As part of the new home sales report, the Census Bureau reported the number of homes sold by price and the average and median prices. From the Census Bureau : "The median sales price of new houses sold in March 2017 was $315,100. The average sales price was $388,200." The following graph shows the median and average new home prices. Click on graph for larger image. During the housing bust, the builders had to build smaller and less expensive homes to compete with all the distressed sales.  When housing started to recovery - with limited finished lots in recovering areas - builders moved to higher price points to maximize profits. The average price in March 2017 was $388,200, and the median price was $315,100.  Both are above the bubble high (this is due to both a change in mix and rising prices). The second graph shows the percent of new homes sold by price. Almost 7% of new homes sold were under $150K in March 2017.  This is up from late last year, but down from 30% in 2002.  In general, the under $150K bracket is going away.    The $400K+ bracket has increased significantly.  I'll break that bracket up in the future. A majority of new home in the U.S. are in the $200K to $400K range.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 10:48 AM » Two huge markets are sizing up Trump and making radically different bets
    Published Wed, Apr 26 2017 10:48 AM by CNBC
    Stocks have kept faith that President Trump will deliver on his promises as he nears his 100th day Saturday, but bonds are skeptical.
  • 8:46 AM » Treasury's Mnuchin confirms Trump will seek 15 percent corporate tax rate
    Published Wed, Apr 26 2017 8:46 AM by CNBC
    Mnuchin confirmed Wednesday that the tax plan the Trump administration will outline later will call for a 15 percent corporate rate.
  • 8:46 AM » Treasury's Mnuchin: This is going to be the biggest tax cut and largest tax reform in our country's history
    Published Wed, Apr 26 2017 8:46 AM by CNBC
    Treasury's Mnuchin: This is going to be the biggest tax cut and largest tax reform in our country's history|| 104426067
  • 8:14 AM » Lowest mortgage rates since election push refinances up 7%
    Published Wed, Apr 26 2017 8:14 AM by CNBC
    The refinance market came back to life last week, as mortgage rates fell further.
  • 8:13 AM » US Treasurys mixed as investors eye Trump's tax plan, auctions
    Published Wed, Apr 26 2017 8:13 AM by CNBC
    U.S. government debt prices were mixed on Wednesday as investors prepared for the release of President Donald Trump's tax plan and eyed further auctions.
  • Tue, Apr 25 2017
  • 3:42 PM » Republicans float a spending deal without border wall funding, NBC reports
    Published Tue, Apr 25 2017 3:42 PM by CNBC
    The White House has backed off its push for funding for a wall on the Southern border in a bill to keep the government open.
  • 2:13 PM » Janet Yellen's successor at the Fed just might be Gary Cohn
    Published Tue, Apr 25 2017 2:13 PM by CNBC
    Should Trump choose to replace Yellen when her term expires, he could turn to someone close by to fill the void.
  • 2:10 PM » There's a Huge Disagreement Between Bonds and Stocks
    Published Tue, Apr 25 2017 2:10 PM by Bloomberg
    Bloomberg There's a Huge Disagreement Between Bonds and Stocks Bloomberg In the green corner are stocks. The Standard & Poor's 500 index is just 0.3 percent away from a record high reached in March on bets that Donald Trump's administration will push through tax-code changes to spark growth. In the red corner sit U.S. ... and more »
  • 12:28 PM » A few Comments on March New Home Sales
    Published Tue, Apr 25 2017 12:28 PM by Calculated Risk Blog
    New home sales for March were reported at 621,000 on a seasonally adjusted annual rate basis (SAAR).  This was well above the consensus forecast, and the three previous months combined were revised up significantly. This was a strong report. Sales were up 15.6% year-over-year in March.  However, January, February and March were the weakest months last year on a seasonally adjusted annual rate basis - so this was an easy comparison. So far the increase in mortgage rates has not negatively impacted new home sales. Earlier: New Home Sales increase to 621,000 Annual Rate in March . Click on graph for larger image. This graph shows new home sales for 2016 and 2017 by month (Seasonally Adjusted Annual Rate).  Sales were up 15.6% year-over-year in March. For the first three months of 2017, new home sales are up 12.0% compared to the same period in 2016. And here is another update to the "distressing gap" graph that I first started posting a number of years ago to show the emerging gap caused by distressed sales.  Now I'm looking for the gap to close over the next several years. The "distressing gap" graph shows existing home sales (left axis) and new home sales (right axis) through March 2017. This graph starts in 1994, but the relationship had been fairly steady back to the '60s. Following the housing bubble and bust, the "distressing gap" appeared mostly because of distressed sales.   The gap has persisted even though distressed sales are down significantly, since new home builders focused on more expensive homes. I expect existing home sales to move more sideways, and I expect this gap to slowly close, mostly from an increase in new home sales. However, this assumes that the builders will offer some smaller, less expensive homes. If not, then the gap will persist. Another way to look at this...
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 11:22 AM » French election relief could pave way for ECB tapering, but not yet
    Published Tue, Apr 25 2017 11:22 AM by Market Watch
    after pro-EU candidate Emmanuel Macron came out on top in the first round of voting in France's presidential election on Sunday, analysts say one of the major tightening hurdles for the European Central Bank now is out of the way.
  • 11:20 AM » New Fannie Mae Changes Address Student Loan Issues
    Published Tue, Apr 25 2017 11:20 AM by Fannie Mae
    News Release. Share This: April 25, 2017. Fannie Mae Introduces Innovative Solutions for Borrowers with Student Loan Debt ...
  • 10:38 AM » 10-year Treasury yield back above 2.3% as investors shun havens
    Published Tue, Apr 25 2017 10:38 AM by Market Watch
    Treasury prices fall, pushing up yields, as fading geopolitical jitters revives investor appetite for stocks and other risky assets at the expense of havens like government bonds.
  • 10:37 AM » US homebuilder stocks slide on concern Trump's lumber tariff will raise costs
    Published Tue, Apr 25 2017 10:37 AM by CNBC
    Hombuilder stocks fell on Tuesday after the United States slapped new tariffs on Canadian softwood lumber imports.
  • 9:35 AM » White House ‘confident' of averting shutdown as Trump shows flexibility on wall
    Published Tue, Apr 25 2017 9:35 AM by Washington Post
    The White House sought Monday to calm a jittery Washington ahead of a showdown with Congress over spending, and President Trump softened his demand that a deal to keep the federal government open include money to begin construction on his long-promised border wall. Despite one-party control at both ends of Pennsylvania Avenue, the brinkmanship that came to define spending battles in the Obama years has tumbled into the Trump era, as have the factional divisions over strategy and priorities that have gripped the GOP for a decade.
    Click Here to Read the Full Article

    Source: Washington Post
  • 9:29 AM » Americans' Confidence in Economy Stable, Positive
    Published Tue, Apr 25 2017 9:29 AM by www.gallup.com
    Gallup's U.S. Economic Confidence Index remained positive last week at +7. The latest score is somewhat lower than those in late January and early March.
    Click Here to Read the Full Article

    Source: www.gallup.com
  • 8:50 AM » Bernanke warns that a ‘politicized' U.S. economy will create bad policies
    Published Tue, Apr 25 2017 8:50 AM by Market Watch
    Former Federal Reserve Chairman Ben Bernanke says views on the U.S. economy are "partisan colored," and that may turn into trouble.
  • 8:49 AM » Redfin Housing Demand Index Drops Amid Lower-Than-Expected Buyer Activity in March; Remains Above Three-Year Average
    Published Tue, Apr 25 2017 8:49 AM by www.redfin.com
    The Redfin Housing Demand Index decreased 13.9 percent from February, to a seasonally adjusted level of 108 in March. While homebuyer demand has cooled from its record high of 132 in January, this was still the strongest March since 2013, when the Demand Index registered just one point higher at 109. The Demand Index is […] The post Redfin Housing Demand Index Drops Amid Lower-Than-Expected Buyer Activity in March; Remains Above Three-Year Average appeared first on Redfin Real-Time .
    Click Here to Read the Full Article

    Source: www.redfin.com
  • Mon, Apr 24 2017
  • 4:51 PM » Trump reportedly still wants a 15% corporate tax rate, even if it falls short on revenue
    Published Mon, Apr 24 2017 4:51 PM by CNBC
    Trump reportedly told staff to "get it done" before his planned Wednesday announcement on tax reform.
  • 3:17 PM » Suddenly Everything's Looking Good in the Euro Area
    Published Mon, Apr 24 2017 3:17 PM by Bloomberg
    Bloomberg Suddenly Everything's Looking Good in the Euro Area Bloomberg It's looking good for the euro area right now and there's every chance that's how it will stay. The region's largest economy started the week off with a surge in business confidence, a reminder of the strength already in Germany and now appearing ... and more »
  • 12:29 PM » Spring housing season is the 'strongest seller's market ever'
    Published Mon, Apr 24 2017 12:29 PM by CNBC
    Spring home buyers are pounding the pavement at a furious pace, but the pickings are getting ever slimmer.
  • 10:07 AM » Chicago Fed "Slower Economic Growth in March"
    Published Mon, Apr 24 2017 10:07 AM by Calculated Risk Blog
    From the Chicago Fed: Chicago Fed National Activity Index Points to Slower Economic Growth in March Led by slower growth in employment-related indicators, the Chicago Fed National Activity Index (CFNAI) moved down to +0.08 in March from +0.27 in February . Two of the four broad categories of indicators that make up the index decreased from February, and one category made a negative contribution to the index in March. The index's three-month moving average, CFNAI-MA3, decreased to +0.03 in March from +0.16 in February, but remained positive for the fourth consecutive month. emphasis added This graph shows the Chicago Fed National Activity Index (three month moving average) since 1967. Click on graph for larger image. This suggests economic activity was somewhat above the historical trend in March (using the three-month average). According to the Chicago Fed: The index is a weighted average of 85 indicators of growth in national economic activity drawn from four broad categories of data: 1) production and income; 2) employment, unemployment, and hours; 3) personal consumption and housing; and 4) sales, orders, and inventories. ... A zero value for the monthly index has been associated with the national economy expanding at its historical trend (average) rate of growth; negative values with below-average growth (in standard deviation units); and positive values with above-average growth.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 9:38 AM » Trump suddenly finds himself needing the Fed
    Published Mon, Apr 24 2017 9:38 AM by CNBC
    President Donald Trump's relationship with the Fed is, to put it mildly, evolving.
  • 8:16 AM » Black Knight: House Price Index up 0.8% in February, Up 5.7% year-over-year
    Published Mon, Apr 24 2017 8:16 AM by Calculated Risk Blog
    Note: I follow several house price indexes (Case-Shiller, CoreLogic, Black Knight, Zillow, FHFA, FNC and more). Note: Black Knight uses the current month closings only (not a three month average like Case-Shiller or a weighted average like CoreLogic), excludes short sales and REOs, and is not seasonally adjusted . From Black Knight: Black Knight Home Price Index Report: U.S. Home Prices Hit New Peak in February, Rising 0.8 Percent for the Month, Up 5.7 Percent Year-Over-Year • Nationally, home prices rose 0.8% for the month and gained 5.7% on a year-over-year basis • U.S. home prices hit a new, post-crisis high in February, with the national HPI hitting $268K, surpassing the previous peak set in June 2006 • February marked 58 consecutive months of annual national home price appreciation • Home prices in six of the nation's 20 largest states and 14 of the 40 largest metros hit new peaks in February The year-over-year increase in this index has been about the same for the last year. Note that house prices are just above the bubble peak in nominal terms, but not in real terms (adjusted for inflation).  Case-Shiller for February will be released tomorrow.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 8:16 AM » Treasuries Slide Across Curve as French Vote Damps Safety Demand
    Published Mon, Apr 24 2017 8:16 AM by Bloomberg
    Bloomberg Treasuries Slide Across Curve as French Vote Damps Safety Demand Bloomberg Treasuries dropped across the curve after pro-Europe centrist Emmanuel Macron won the first round of France's presidential election, easing demand for safer assets. Benchmark 10-year yields headed for their biggest one-day jump in three months as ... and more »
  • 8:16 AM » Movement Out of California Was the Most Influential Driver of U.S. Migration Patterns in Early 2017
    Published Mon, Apr 24 2017 8:16 AM by www.redfin.com
    One in five Redfin users searched for homes outside their metro; Boston, Chicago and Seattle had the most loyal residents. The post Movement Out of California Was the Most Influential Driver of U.S. Migration Patterns in Early 2017 appeared first on Redfin Real-Time .
    Click Here to Read the Full Article

    Source: www.redfin.com
  • 12:02 AM » Risk Is Back On After French Election; Euro Jumps: Markets Wrap
    Published Mon, Apr 24 2017 12:02 AM by Bloomberg
    Bloomberg Risk Is Back On After French Election; Euro Jumps: Markets Wrap Bloomberg Investors swung back into a risk-taking mode on speculation that pro-growth centrist Emmanuel Macron will become France's next president after the first round of voting. The euro jumped the most since December and the yen retreated, while U.S. stock ... and more »
  • 12:01 AM » Euro pops to 5-month high vs dollar on French election relief
    Published Mon, Apr 24 2017 12:01 AM by CNBC
    The euro scaled five-month highs against the dollar on Monday after Emmanuel Macron swept to victory in the first round of France's presidential election.
  • 12:00 AM » France's Macron heads for runoff with Le Pen in May
    Published Mon, Apr 24 2017 12:00 AM by CNBC
    Centrist Emmanuel Macron and far-right leader Marine Le Pen head for a second round runoff on May 7 in France's presidential election.
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