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  • Wed, Apr 2 2014
  • 8:52 PM » Amid rate-hike debate, Fed officials eye crystal ball
    Published Wed, Apr 02 2014 8:52 PM by Reuters
    ST. LOUIS/MIAMI (Reuters) - Two top policymakers said on Wednesday the Federal Reserve was in no rush to raise interest rates and would have to see improvements in the U.S. economy to do so.
  • 8:52 PM » Fed should hike rates in second half of 2015: Williams
    Published Wed, Apr 02 2014 8:52 PM by Reuters
    (Reuters) - The Federal Reserve should start raising U.S. interest rates in the second half of next year, and should do so only gradually, keeping borrowing costs well below normal levels even into 2017, a top U.S. central banker said on Wednesday.
  • 8:51 PM » Apocalypse Now? China 'bears' hope for their 'told you so' moment
    Published Wed, Apr 02 2014 8:51 PM by Reuters
    SINGAPORE (Reuters) - "It's like a horror movie. People like to watch, but don't want to be in it," quips economist Andy Xie about his popular lectures where he predicts a collapse in China's property and stock markets.
  • 8:49 PM » Freddie Mac to Seek Securities Sales Linked to Riskier Mortgages - Bloomberg
    Published Wed, Apr 02 2014 8:49 PM by Bloomberg
    Freddie Mac to Seek Securities Sales Linked to Riskier Mortgages Bloomberg Freddie Mac (FMCC), which has sold $3.1 billion of securities sharing the risk it bears from homeowner defaults, will seek to sell debt tied to potentially riskier mortgages, according to a company executive. The government-controlled company's four offerings ... and more »
  • 3:38 PM » Some Americans Paid Off Credit Cards While Waiting for Foreclosure
    Published Wed, Apr 02 2014 3:38 PM by WSJ
    The sheer number of foreclosures during the recession may have helped some Americans pay off other debts, such as credit-card bills.
  • 3:38 PM » Construction Is Muted Because Too Many Buildings Went Up During the Boom
    Published Wed, Apr 02 2014 3:38 PM by WSJ
    The U.S. built too many buildings in the early 2000s, and that "overhang" has been a drag on the post-recession recovery, according to researchers at the Federal Reserve Bank of Cleveland.
  • 3:01 PM » Carry Trade Still Works Post-Fed QE, HSBC to Deutsche Bank Say - Bloomberg
    Published Wed, Apr 02 2014 3:01 PM by Bloomberg
    Carry Trade Still Works Post-Fed QE, HSBC to Deutsche Bank Say Bloomberg The removal of the Federal Reserve's bond-buying program isn't damping appetite for carry trades, according to currency strategists from Deutsche Bank AG to HSBC Holdings Plc. As investors look beyond the end of the U.S. central bank's quantitative easing ...
  • 2:59 PM » Cashin: How traders are betting on the jobs number
    Published Wed, Apr 02 2014 2:59 PM by CNBC
    Art Cashin of UBS Financial Services tells CNBC's Bob Pisani how many traders are playing Friday's report on March jobs.
  • 2:59 PM » Front running; CNBC Explains
    Published Wed, Apr 02 2014 2:59 PM by CNBC
    In conventional terms, front running is something that happens within a firm. However, that definition has changed some recently.
  • 2:50 PM » CFPB Director Cordray to Whistleblower: "Tell Your Attorneys to Back Down"
    Published Wed, Apr 02 2014 2:50 PM by House Financial Services
    WASHINGTON - A whistleblower testifying at today's Financial Services Oversight and Investigations Subcommittee hearing on allegations of discrimination and retaliation within the CFPB said CFBP Director Richard Cordray "told me that I have to tell my attorneys to back down." The whistleblower - CFPB attorney Angela Martin - provided the information about Director Cordray's involvement in response to a question posed by Chairman Jeb Hensarling (R-TX). A transcript of the question and answer is below: Chairman Hensarling : Ms. Martin, because we do not have a commission [overseeing the CFPB], we have one director -- did Director Cordray ever contact you personally with respect to your complaint? Ms. Martin : Yes, Sir. Like many of the early arrivals in Enforcement [division at CFPB], because we were so small, we have an ability to speak to the director and approach him. He is very approachable and kind. Hensarling: When he contacted you, was this with respect to your formal EEO complaint? Martin : Yes, sir. On August 7, Director Cordray called me at night and told me that I have to tell my attorneys to back down. Hensarling : I'm sorry, Ms. Martin, you are saying that Director Cordray personally reached out to you and asked or told you to have your attorneys back down? Martin : Yes, sir. August 7 at 8:54 in a two minute conversation he told me to tell my attorneys to back down because he was trying to secure me a position in Enforcement. My reporting structure was the last thing to be settled and I settled it the next morning and everything was fine and I was coming back to work. We actually signed the settlement agreement on August 14. But what I did not know was on August 8, after I thought it was settled, Directory Cordray and somebody else gave that position to somebody else and that is what the fight is about now currently with the Bureau that I don't have a position. But yes, he told me that. Hensarling : We will fight not to let you and...
    Click Here to Read the Full Article

    Source: House Financial Services
  • 1:06 PM » Rental-Bond Investors Said to Seek Higher Yields in Colony Deal - Bloomberg
    Published Wed, Apr 02 2014 1:06 PM by Bloomberg
    Rental-Bond Investors Said to Seek Higher Yields in Colony Deal Bloomberg Investors in the second-ever sale of securities backed by U.S. rental homes may demand higher relative yields to buy the debt this time around, a person with knowledge of the transaction said. Colony American Homes Inc., the third-largest single-family ...
  • 1:03 PM » Freddie Mac Prices Second STACR Credit Risk Sharing Transaction of 2014
    Published Wed, Apr 02 2014 1:03 PM by freddiemac.mwnewsroom.com
    Freddie Mac Prices Second STACR Credit Risk Sharing Transaction of 2014
    Click Here to Read the Full Article

    Source: freddiemac.mwnewsroom.com
  • 11:49 AM » Fannie Mae and Freddie Mac Foreclosure Prevention Actions Top 3.1 Million
    Published Wed, Apr 02 2014 11:49 AM by FHFA
    April 2, 2014: Fannie Mae and Freddie Mac Foreclosure Prevention Actions Top 3.1 Million
  • 10:21 AM » U.S. factory orders surge in February
    Published Wed, Apr 02 2014 10:21 AM by Reuters
    WASHINGTON (Reuters) - New orders for U.S. factory goods rebounded more than expected in February, with shipments posting their biggest gain in seven months in a further sign the economy was regaining momentum after a recent weather-driven slowdown.
  • 10:03 AM » What's next for housing in your town
    Published Wed, Apr 02 2014 10:03 AM by CNN
    Read full story for latest details.
  • 10:03 AM » Dreary outlook for formerly hot housing markets
    Published Wed, Apr 02 2014 10:03 AM by CNN
    Read full story for latest details.
  • 9:35 AM » Housing heats up in booming growth cities
    Published Wed, Apr 02 2014 9:35 AM by CNN
    Read full story for latest details.
  • 8:55 AM » Treasurys extend fall after ADP payrolls report
    Published Wed, Apr 02 2014 8:55 AM by Market Watch
    NEW YORK (MarketWatch) -- Treasury prices extended a fall Wednesday, pushing yields higher after a report showed the private sector added 191,000 new jobs in March. The prior month's gains were also revised higher, according to the data from Automatic Data Processing Inc. After the data, the benchmark 10-year note yield was up 2 basis points on the day at 2.777%, according to Tradeweb. The 30-year bond yield was up 1.5 basis points at 3.620%, and the 5-year note yield rose 2.5 basis points to 1.765%. A report on factory orders is due out at 10 a.m. Eastern.
  • 8:53 AM » US economy generated 191K jobs last month: ADP
    Published Wed, Apr 02 2014 8:53 AM by CNBC
    The economy created nearly 200,000 private-sector jobs last month, ADP reported, feeding hopes over a labor market thaw ahead of Friday's jobs data.
  • 8:14 AM » U.S. mortgage applications fell last week: MBA
    Published Wed, Apr 02 2014 8:14 AM by Reuters
    NEW YORK (Reuters) - Applications for U.S. home mortgages fell last week on lower refinancing demand, an industry group said on Wednesday.
  • 8:13 AM » Think tank: Congress, you fix the economy
    Published Wed, Apr 02 2014 8:13 AM by Washington Post
    For years, central bank officials have complained that expectations that they can single-handedly revive the nation's anemic economy are misplaced. The Fed can only set the stage for stronger growth; Congress must also play its part. But between fiscal cliffs and debt ceiling standoffs, lawmakers instead seem to be intent on shutting down the entire production. Read full article >>        
    Click Here to Read the Full Article

    Source: Washington Post
  • 8:11 AM » US bond markets await ADP employment report
    Published Wed, Apr 02 2014 8:11 AM by CNBC
    U.S. bonds traded flat-to-lower on Wednesday, as markets awaited the ADP employment report.
  • Tue, Apr 1 2014
  • 6:55 PM » Wells Fargo announces new CFO to replace Sloan
    Published Tue, Apr 01 2014 6:55 PM by Market Watch
    NEW YORK (MarketWatch) -- Wells Fargo & Co. announced on Tuesday the appointment of a new chief financial officer. John R. Shrewsberry, current head of the investment bank will replace current CFO Timothy J. Sloan. Shrewsberry has been with the firm for more than a decade and will become CFO for the giant mortgage bank effective May 15, 2014, reporting directly to the John Stumpf, Wells Fargo's chairman and chief executive officer. Sloan will become the head of the Wholesale Banking group at Wells Fargo.
  • 6:55 PM » Crimea Rating Cut to S&P's Lowest Grade After Default - Bloomberg
    Published Tue, Apr 01 2014 6:55 PM by Bloomberg
    Crimea Rating Cut to S&P's Lowest Grade After Default Bloomberg Crimea's credit rating was cut to the lowest grade and then withdrawn by Standard & Poor's after the regional government, which was annexed by Russia last month, defaulted on local bonds. The overseas and local debt rating was cut to D after Crimea ... and more »
  • 6:54 PM » BofA's FHFA Mortgage Suit Dropped After $9.5 Billion Pact - Bloomberg
    Published Tue, Apr 01 2014 6:54 PM by Bloomberg
    BofA's FHFA Mortgage Suit Dropped After $9.5 Billion Pact Bloomberg U.S. housing regulators abandoned their lawsuit against Bank of America Corp.'s Merrill Lynch unit as part of a $9.5 billion settlement resolving allegations the bank misrepresented loans packaged into bonds. The bank and the Federal Housing Finance ...
  • 6:44 PM » Private payroll data may show whether thaw is on
    Published Tue, Apr 01 2014 6:44 PM by CNBC
    Stocks are sniffing out a spring thaw, and private payroll data should give some clues to whether the bounce back rally can continue.
  • 4:05 PM » In U.S., Economic Confidence Holds Steady in March
    Published Tue, Apr 01 2014 4:05 PM by www.gallup.com
    Gallup's Economic Confidence Index averaged -17 in March, similar to the -16 recorded in January and February. Americans' confidence in the economy remains higher than it was last fall, but lower than its peak last May.
    Click Here to Read the Full Article

    Source: www.gallup.com
  • 3:43 PM » What does it mean to move housing forward?
    Published Tue, Apr 01 2014 3:43 PM by National Housing Conference
    42nd Annual Gala honorees show us the way.  by Chris Estes, National Housing Conference I had a great trip last week to San Francisco, where I had the pleasure of kicking off Ballard Spahr's Best of the West Housing Conference. I talked about a variety of important housing issues like funding for the National Housing Trust Fund, the President's budget for housing programs and the important issues it sets up for next year, expansion potential of programs like RAD, and implications for tax reform now that Chairman Camp introduced his bill. I also had great meetings with folks from the Federal Home Loan Bank of San Francisco, Enterprise Community Partners and the Non-Profit Housing Association of Northern California. I learned a lot from them about the issues that are in play in California's housing community, and had a chance to share details with them about NHC's Annual Gala in June and the Solutions 2014 national conference on state and local housing policy, which we'll host in Oakland November 18-20. As I mentioned in the Washington Wire last week, Linda Mandolini of Eden Housing and former New York Representative Rick Lazio will co-chair the June 12 Gala, Moving Housing Forward: Seizing the Moment. Please take a moment to learn more about the Gala on our website . The Gala is in its 42nd year. My personal goal is to ensure that it continues to be a celebration of affordable housing and community development work that is truly national in scope. The past two Galas have honored organizations, like veterans housing groups in 2012, and NeighborWorks America® and Omni NY LLC in 2013, that provided uncommon leadership and vision in solving America's most pressing housing needs. We've renamed the Housing Person of the Year award to show our continued commitment to honoring the best work in housing, whether it comes from an organization or an individual. This year's Housing Visionary Awards will go to Enterprise Community Partners...
    Click Here to Read the Full Article

    Source: National Housing Conference
  • 2:27 PM » Over 7 million signed up for Obamacare
    Published Tue, Apr 01 2014 2:27 PM by CNBC
    More than 7 million people had signed up for Obamacare, surpassing the White House's goal.
  • 1:44 PM » February Phoenix Region Home Sale Press Release
    Published Tue, Apr 01 2014 1:44 PM by DataQuick
    Phoenix Region February Home Sales The Phoenix area posted the smallest year-over-year gain in its median sale price in two years during February as a rise in inventory and other factors helped tame price appreciation. The sales volume was the lowest for a February in five years, a real estate information service reported. Buyers paid a median $189,000 for all new and resale houses and condos sold during February in the combined Maricopa-Pinal counties metro area. That was the same as in January and up 11.7 percent from a year earlier. The year-over-year increase in the February median was the lowest since the median sale price rose 7.5 percent, to $129,000, in February 2012, according to San Diego-based DataQuick, which tracks real estate trends nationally via public property records. The Phoenix-area's median sale price has risen on a year-over-year basis for 28 consecutive months and those gains have been double-digit - as high as 32.2 percent - for the last 24 months. Despite those gains, the February median remained 28.1 percent below the region's all-time peak median of $264,100 in June 2006. Home price increases have moderated in Phoenix and in some other Western markets as the number of homes listed for sale has increased, and as higher prices and mortgage interest rates have priced out some potential buyers. In addition, credit conditions remain relatively tight and demand from investors has waned. Early last year the combination of ultra-low mortgage rates, tight inventory and high investor demand helped drive steep price gains. In February, a total of 6,641 new and resale houses and condos closed escrow in the two-county Phoenix region, up 9.4 percent from the month before and down 16.3 percent from a year earlier. The month-to-month increase in sales matches the average change in sales volume between January and February since 1994, when DataQuick's complete Phoenix region statistics begin. Sales have fallen on a year-over-year basis for five...
  • 1:31 PM » Statement Regarding Transactions in Agency Mortgage-Backed Securities
    Published Tue, Apr 01 2014 1:31 PM by NY Fed
    On April 9, 2014, the New York Fed's Open Market Trading Desk will begin to increasingly conduct agency MBS purchases over FedTrade. These purchases will be counted toward the monthly additional agency MBS purchases and reinvestments of principal payments on holdings of agency securities that the Desk has been conducting at the direction of the Federal Open Market Committee.
  • 12:38 PM » What are the best/worst markets for rental returns
    Published Tue, Apr 01 2014 12:38 PM by CNBC
    Looking to buy a home as an investor? Check out the best and worst places for rental returns.
  • 11:24 AM » Flood insurance fix may end up being no fix at all
    Published Tue, Apr 01 2014 11:24 AM by CNBC
    A plan to roll back higher flood insurance premiums is making homeowners happy, but one analyst says it ignores the risk of living in flood zones.
  • 11:24 AM » Wells Fargo is giving investors something to talk about
    Published Tue, Apr 01 2014 11:24 AM by Market Watch
    There are stocks that are the type that people want to brag that they own, and then there are those that are, shall we say, less exciting to the average person. Which of these is Wells Fargo?
  • 11:23 AM » How data helps communities meet housing needs
    Published Tue, Apr 01 2014 11:23 AM by National Housing Conference
    Developing solutions through research by Lisa Sturtevant, Ph.D., Center for Housing Policy On a recent Thursday evening, I stood in front of a group of residents gathered at Central Library in Arlington, Virginia, to talk about data. The prospect of sitting in a darkened auditorium to talk about numbers and charts brought many in the room back to the dreaded statistics class they had taken in college or grad school. But statistics are not just numbers. They can tell a story. And in this case, they tell a story of a changing community. In an interactive, game show style discussion, I asked the audience questions, like the following:  ·          What age group has grown the fastest in Arlington since 2000? ·          Has the non-white population increased or decreased? ·          What share of households in Arlington has incomes below $15,000? ·          What group is most likely to spend 30% or more of their income on housing costs? ·          What share of persons with disabilities spends more than half of their income on housing costs?   By asking questions like these, it compelled people to reflect on what they thought their community looked like. And then by seeing the actual data, either their perceptions were confirmed, or their understanding opened up. Often it was the latter. In fact, one participant said he realized how important data was to combating preconceived notions people might have about their own community. But the primary reason for sharing the data that night was to help guide a discussion about what the characteristics of a community mean for planning for housing. Arlington County...
    Click Here to Read the Full Article

    Source: National Housing Conference
  • 10:18 AM » US ISM Manufacturing Index Rose to 53.7 in March From 53.2 - Bloomberg
    Published Tue, Apr 01 2014 10:18 AM by Bloomberg
    US ISM Manufacturing Index Rose to 53.7 in March From 53.2 Bloomberg The Institute for Supply Management's index increased to 53.7 in March from 53.2 a month earlier, the Tempe, Arizona-based group reported today. Readings above 50 indicate growth. The median forecast in a Bloomberg survey of 81 economists was 54, ...
  • 10:11 AM » February construction spending rises 0.1%
    Published Tue, Apr 01 2014 10:11 AM by Market Watch
    WASHINGTON (MarketWatch) -- Outlays for U.S. construction projects rose 0.1% in February to a seasonally adjusted annual rate of $945.7 billion, led by nonresidential projects, the U.S. Commerce Department reported Tuesday. Economists polled by MarketWatch had expected a 0.1% decrease in February. Both private and public construction spending rose 0.1% in February.
  • 8:53 AM » Treasurys fall ahead of manufacturing report
    Published Tue, Apr 01 2014 8:53 AM by Market Watch
    NEW YORK (MarketWatch) -- Treasury prices fell Tuesday, sending yields higher, ahead of manufacturing index data from the Institute for Supply Management due out at 10 a.m. Eastern. Other insights on the economy could come from a PMI manufacturing index due out at 9:45 a.m. and data on construction spending at 10 a.m. The 10-year Treasury note yield rose 2 basis points to 2.746%, while the 30-year bond yield rose 2.5 basis points to 3.588%, and the 5-year note yield rose half a basis point to 1.735%. Treasury prices began falling after data showed a slight rise in China's manufacturing index, and an acceleration in euro-zone manufacturing activity.
  • 8:53 AM » Manhattan home prices soar to median $972,000
    Published Tue, Apr 01 2014 8:53 AM by CNN
    While home prices in other parts of the country are still 20% below their housing boom peak, demand for large, luxury apartments has helped home prices in Manhattan almost fully recover from the housing bust.
  • 8:44 AM » Home prices rise 0.8% in February: CoreLogic
    Published Tue, Apr 01 2014 8:44 AM by Market Watch
    WASHINGTON (MarketWatch) -- Home prices rose 0.8% in February, as annual growth reached 12.2%, the fastest year-over-year pace since February 2006, according to data released Tuesday by CoreLogic , an Irvine, Calif.-based analysis firm. "As the spring home-buying season kicks off, house price appreciation continues to be strong," said Mark Fleming, CoreLogic's chief economist. "Although prices should remain strong in the near term due to a short supply of homes on the market, price increases should moderate over the next year as home equity releases pent-up supply." Including February, home prices were about 17% below a bubble peak. Looking at states, prices in California saw the fastest annual growth, reaching 19.8% in February, while Kentucky had the slowest year-over-year pace, at 0.4%. Notably, Colorado, Nebraska, North Dakota and Texas each set a new record high price in February. Excluding distressed properties, such as short sales, monthly U.S. home-price growth in February was 0.9%, and the annual pace hit 10.7%.
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