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  • Wed, Nov 5 2014
  • 9:16 AM » U.S. private sector creates 230,000 jobs in October: ADP
    Published Wed, Nov 05 2014 9:16 AM by Reuters
    NEW YORK (Reuters) - U.S. private employers added 230,000 jobs in October, exceeding economists' expectations, a report by a payrolls processor showed on Wednesday.
  • 9:16 AM » Treasury to trim auction sizes of 2 & 3-yrs
    Published Wed, Nov 05 2014 9:16 AM by CNBC
    The U.S. will gradually cut back the size of two- and three-year note auctions over the next three months to reflect a better budget outlook.
  • 9:12 AM » Scrutiny of Fed Seen Intensifying in Republican Senate - Bloomberg
    Published Wed, Nov 05 2014 9:12 AM by Bloomberg
    Scrutiny of Fed Seen Intensifying in Republican Senate Bloomberg When Janet Yellen was preparing to take over the Federal Reserve, she got some advice from the departing chairman, Ben Bernanke: Remember that "Congress is our boss." Yellen would do well to heed his words after Republicans gained majority control of ... and more »
  • 9:08 AM » Someone Tell This Guy About 95LTV!
    Published Wed, Nov 05 2014 9:08 AM by Market Watch
    If first-time home buyers start saving for their down payment today, in 10 years they still won't have enough stashed away.
  • 8:58 AM » Higher US rates put a damper on mortgage refinancing
    Published Wed, Nov 05 2014 8:58 AM by CNBC
    Even a small rise in mortgage rates was enough to cut off the spigot on refinances.
  • Tue, Nov 4 2014
  • 9:59 PM » Wednesday: ISM Non-Mfg Index, ADP Employment
    Published Tue, Nov 04 2014 9:59 PM by Calculated Risk Blog
    From the WSJ: What Falling Exports Mean for U.S. Economic Growth In response to Tuesday's trade report (in addition to weak construction and factory orders data), economists are reducing the estimates for third-quarter real GDP growth. Economists at BNP Paribas now track third-quarter GDP at 2.8% and J.P. Morgan forecasters think the rate will be revised to 2.9%, while the econ shops at Goldman Sachs, Royal Bank of Scotland and Capital Economics think the rate will fall to about 3%. The BEA will release the 2nd revision of GDP on November 25th, but so far it looks like GDP will be revised down. Wednesday: • At 7:00 AM ET, the Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index . • At 8:15 AM, the ADP Employment Report for October. This report is for private payrolls only (no government). The consensus is for 212,000 payroll jobs added in October, down from 213,000 in September. • At 10:00 AM, the ISM non-Manufacturing Index for October. The consensus is for a reading of 58.0, down from 58.6 in September. Note: Above 50 indicates expansion.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 9:58 PM » Voters firmly back minimum wage increases
    Published Tue, Nov 04 2014 9:58 PM by CNBC
    Voters in Arkansas and Nebraska approved ballot measures to raise their states' minimum wages, adding to the debate about the federal standard.
  • 9:58 PM » Exit polls say 1% of people think the economy is “excellent.” Of course they do.
    Published Tue, Nov 04 2014 9:58 PM by Washington Post
    Democrats figure to take at least a moderate shellacking at the polls tonight, because people are still so downbeat about the economy - and with good reason. Despite decent economic growth, middle class wages and wealth are still stagnant or worse going back 25 years now . Read full article >>
    Click Here to Read the Full Article

    Source: Washington Post
  • 9:46 PM » Global luxury home price growth slows to a halt
    Published Tue, Nov 04 2014 9:46 PM by CNBC
    Price growth of luxury real estate in major cities across the world slowed to a halt in the third quarter as the darkening outlook for the global economy and summer holidays resulted in a lull in sales.
  • 9:46 PM » GOP retains House control
    Published Tue, Nov 04 2014 9:46 PM by CNBC
    The Republican Party has retained control of the US House of Representatives, NBC News projects.
  • 4:47 PM » Scrutiny of Fed Seen Intensifying in a Republican Senate - Bloomberg
    Published Tue, Nov 04 2014 4:47 PM by Bloomberg
    Scrutiny of Fed Seen Intensifying in a Republican Senate Bloomberg As Janet Yellen was preparing to take over the Federal Reserve, she got some advice from the departing chairman, Ben Bernanke: Keep in mind that "Congress is our boss." Yellen would do well to heed his words if the Republican Party gains majority control ...
  • 4:47 PM » Lawler on NAR 2014 Profile of Home Buyers and Sellers
    Published Tue, Nov 04 2014 4:47 PM by Calculated Risk Blog
    From housing economist Tom Lawler: The National Association of Realtors released the results of its 2014 Profile of Home Buyers and Sellers, which are based on a survey of buyers who purchased a home between July 2013 and June 2014. The survey is sent to the address of the home purchased, and the virtually all respondents purchased a home for their primary residence. Thus, characteristics of buyers from the survey reflect characteristics of primary residence purchases, and not all home purchases. According to the 2014 survey, the first-time home buyer share of primary residence home purchases over the 12 month period ending June 2014 was 33%, down from 38% a year earlier and the lowest share since the NAR has attempted to measure the share. The first-time buyer share from this survey includes both new and existing homes. Click on graph for larger image in graph gallery. As noted above, the first-time buyer share from the Profile of Home Buyers and Sellers is an estimate of the first-time buyer share of primary residence purchases. The first-time buyer share reported in the NAR's monthly existing home sales press release, in contrast, is an estimate of the first-time buyer share of total existing home sales, and is based on the buyer characteristics of the last home transaction in a given month of realtors who respond to the survey. When folks say that the "normal" first-time home buyer share is around 40%, they either are or should be referring to the first-time buyer share of homes sold to buyers of their primary residences. Obviously, the "normal" first-time buyer share of total home sales is lower, though it is not clear by how much, because there are no good, reliable data on the investor/second home share of total home sales. Here are a few other "snippets" from the 2014 PHBS. • Eighty-eight percent of primary residence buyers financed their home purchase, and for those who financed their purchase, the buyers "typically"...
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 2:01 PM » White House eyes oil supply and demand
    Published Tue, Nov 04 2014 2:01 PM by CNBC
    The White House is monitoring the global oil supply and demand situation but has no comment on plans for the SPR.
  • 11:42 AM » Unraveling Fannie Mae Guidelines
    Published Tue, Nov 04 2014 11:42 AM by www.collateralvision.com
    In August, I reported on an educational session I attended at The Appraisal Institute (AI) annual conference in Austin, Texas, on Aug. 4-6, 2014. In that article, I mentioned Robert Murphy from Fannie Mae covered some of the changes made in the first major update to the property and valuation section of the Fannie Mae Selling Guide since 2009. This is very important to appraisers because the Selling Guide is Continue reading
    Click Here to Read the Full Article

    Source: www.collateralvision.com
  • 11:01 AM » Why QRM is Such a Big Win for Real Estate
    Published Tue, Nov 04 2014 11:01 AM by Realtor.Org
    Much of what NAR does in Washington is defensive: it works with Congress to prevent curbs to the mortgage interest deduction or to prevent elimination of federal backing of conforming mortgage loans. The qualified residential mortgage (QRM) rule that federal regulators released last week falls into this category in some respects, because regulators at first […]
  • 11:01 AM » The data are clear: Ultra-low down payments aren't all that risky
    Published Tue, Nov 04 2014 11:01 AM by Google News
    Will allowing smaller down payments in an effort to increase mortgage availability lead to more defaults? Some skeptics have raised this concern in response to the Federal Housing Finance Agency Director Mel Watt's recent move to encourage lenders to issue mortgages with down payments as low as 3 percent. Based on a review of the […]
  • 11:01 AM » Home price growth slows in September
    Published Tue, Nov 04 2014 11:01 AM by CNBC
    Home prices grew only 5.6 percent compared to a year ago according to real estate data provider CoreLogic.
  • 10:25 AM » Exclusive: Central bankers to challenge Draghi on ECB leadership style
    Published Tue, Nov 04 2014 10:25 AM by Reuters
    (Reuters) - National central bankers in the euro area plan to challenge European Central Bank chief Mario Draghi on Wednesday over what they see as his secretive management style and erratic communication and will urge him to act more collegially, ECB sources said.
  • 10:22 AM » Factory orders fall 0.6% in Sept.
    Published Tue, Nov 04 2014 10:22 AM by CNBC
    New orders for U.S. factory goods fell for second straight month in September.
  • 9:00 AM » U.S. trade deficit widens in September; exports at a five-month low
    Published Tue, Nov 04 2014 9:00 AM by Reuters
    WASHINGTON, Nov 4 (Reuters) - The U.S. trade deficit unexpectedly widened in September as exports hit a five-month low, suggesting slowing global demand could undercut economic
  • Mon, Nov 3 2014
  • 8:05 PM » Fed Survey: Banks "eased standards for construction and land development loans"
    Published Mon, Nov 03 2014 8:05 PM by Calculated Risk Blog
    From the Federal Reserve: The October 2014 Senior Loan Officer Opinion Survey on Bank Lending Practices Regarding loans to businesses, the October survey results indicated that only a modest net fraction of banks eased their standards for commercial and industrial (C&I) loans to firms of all sizes, but generally larger net fractions of banks eased each of the pricing terms listed in the survey and some non-price terms. Banks also reported having eased standards for construction and land development loans , a category of commercial real estate (CRE) loans included in the survey. On the demand side, modest net fractions of banks reported stronger demand for C&I loans to larger firms; similar net fractions experienced stronger demand for all three categories of CRE loans covered in the survey. ... Regarding loans to households, some large banks reported having eased standards on closed-end mortgage loans , but respondents generally indicated little change in standards and terms for other types of loans to households. Reported changes in loan demand were mixed. Moderate net fractions of banks reported stronger demand for auto loans and weaker demand for nontraditional closed-end mortgage loans . Demand for other types of loans to households was about unchanged at most banks. emphasis added Click on graph for larger image. Here are some charts from the Fed . This graph shows the change in lending standards and for CRE (commercial real estate) loans. Banks are loosening their standards for CRE loans, and for various categories of CRE (right half of graph).  Multifamily is seeing slightly tighter standards for the second consecutive quarter. The second graph shows the change in demand for CRE loans. Banks are seeing a pickup in demand for all categories of CRE. This suggests (along with the Architecture Billing Index ) that we will see a further increase in commercial real estate development.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 5:00 PM » Bears surround oil as it falls below $80
    Published Mon, Nov 03 2014 5:00 PM by CNBC
    West Texas Intermediate bounced back and forth between positive and negative territory just around the $80 dollar level for most of the session.
  • 4:59 PM » Freddie Mac Sets Release Date for Third Quarter 2014 Financial Results
    Published Mon, Nov 03 2014 4:59 PM by freddiemac.mwnewsroom.com
    Freddie Mac Sets Release Date for Third Quarter 2014 Financial Results
    Click Here to Read the Full Article

    Source: freddiemac.mwnewsroom.com
  • 3:21 PM » Currency Peace: Fed Probably Welcomes Surprise BOJ Easing
    Published Mon, Nov 03 2014 3:21 PM by WSJ
    Federal Reserve officials have long been urging the Bank of Japan to aggressively fight deflation, and several are likely to welcome a surprise move last Friday by the Japanese central bank.
  • 3:21 PM » Fed's Fisher: FOMC ‘Neutered' Pledge To Keep Rates Low For ‘Considerable Time'
    Published Mon, Nov 03 2014 3:21 PM by WSJ
    Federal Reserve Bank of Dallas President Richard Fisher had been widely expected to dissent at last week's central bank meeting if the Fed continued to pledge interest rates would stay low for a "considerable time" to come, which it did. Mr. Fisher held fire and he used a speech Monday to explain why.
  • 1:41 PM » Fisher likes 'balanced' Yellen; sees quicker hikes
    Published Mon, Nov 03 2014 1:41 PM by CNBC
    Speaking a week after the U.S. central bank ended its quantitative easing policy, Fisher described Chair Janet Yellen as "impressively balanced."
  • 1:41 PM » Obama, Fed's Yellen to discuss long-term U.S. economic outlook: White House
    Published Mon, Nov 03 2014 1:41 PM by Reuters
    WASHINGTON (Reuters) - President Barack Obama and Federal Reserve Chair Janet Yellen will discuss the long-term outlook of the U.S. economy during a White House meeting on Monday afternoon, Obama's spokesman said.
  • 1:38 PM » Leading industry trade groups comment on HMDA/Reg. C proposal
    Published Mon, Nov 03 2014 1:38 PM by www.cfpbmonitor.com
    Reid F. Herlihy Six leading industry trade groups have submitted a letter commenting on the CFPB’s proposed rule amending Regulation C to expand Home Mortgage Disclosure Act data reporting requirements. The trade groups consist of the Consumer Bankers Association, Mortgage Bankers Association, American Bankers Association, Consumer Mortgage Coalition, Financial Services Roundtable and Housing Policy Council. In the letter,... More >
    Click Here to Read the Full Article

    Source: www.cfpbmonitor.com
  • 1:38 PM » Housing Market Headwinds
    Published Mon, Nov 03 2014 1:38 PM by www.frbsf.org
    The housing sector has been one of the weakest links in the economic recovery, and the latest data continue to show only modest improvement. One obstacle to a pickup in housing demand has been tight mortgage credit standards. Indeed, loan standards for borrowers with lower credit scores have shown few signs of easing. Still, as the share of new mortgages financed in the private market has started to rise, access to credit may improve.
    Click Here to Read the Full Article

    Source: www.frbsf.org
  • 12:29 PM » The hourly guide to Tuesday's election
    Published Mon, Nov 03 2014 12:29 PM by CNBC
    Politico's Ben White tells you what to look for as the results roll in from Tuesday's midterm elections.
  • 11:42 AM » Share of First-Time Home Buyers Hits 27-Year Low
    Published Mon, Nov 03 2014 11:42 AM by WSJ
    Just 33% of primary residences sold this year were purchased by first-time buyers, down from 38% last year to the lowest level since 1987, the National Association of Realtors reported Monday.
  • 11:41 AM » Deflation a growing possibility: Bill Gross
    Published Mon, Nov 03 2014 11:41 AM by Reuters
    NEW YORK (Reuters) - Bond investing guru Bill Gross on Monday warned that deflation remains a growing possibility despite aggressive monetary policies by central banks around the world.
  • 10:28 AM » ISM manufacturing index hits 59.0 in Oct.; Construction spending slips 0.4% in Sept.
    Published Mon, Nov 03 2014 10:28 AM by CNBC
    This is a breaking news story. Please check back for updates.. Economists in a consensus forecast had expected the ISM Manufacturing PMI to dip to 56.2 in October, from 56.6 in the prior month.
  • 8:37 AM » Bond markets await US PMI and Fed speeches
    Published Mon, Nov 03 2014 8:37 AM by CNBC
    Benchmark U.S. bonds traded flat to higher on Monday, as market risk sentiment fell after disappointing European and Chinese economic data.
  • 8:36 AM » Black Knight releases Mortgage Monitor for September
    Published Mon, Nov 03 2014 8:36 AM by Calculated Risk Blog
    Black Knight Financial Services (BKFS) released their Mortgage Monitor report for September today. According to BKFS, 5.67% of mortgages were delinquent in September, down from 5.90% in August. BKFS reported that 1.76% of mortgages were in the foreclosure process, down from 2.63% in September 2013. This gives a total of 7.43% delinquent or in foreclosure. It breaks down as: • 1,760,000 properties that are 30 or more days, and less than 90 days past due, but not in foreclosure. • 1,118,000 properties that are 90 or more days delinquent, but not in foreclosure. • 893,000 loans in foreclosure process. For a total of ??3,711,000 loans delinquent or in foreclosure in September. This is down from 4,593,000 in September 2013. Click on graph for larger image. This graph shows the percent of borrowers and the amount of equity. Black Knight notes: "Only 8 percent of borrowers remain "underwater" on their mortgages, down from a level of 33 percent at the end of 2011, and to the lowest point since 2007" More from Black Knight: "Before the most recent reductions in the average 30-year mortgage interest rate, approximately six million borrowers met broad-based 'refinancibility' criteria," said Barnes. "These criteria assume loan-to-value ratios of 80 percent or below, good credit, non-delinquent loan status and current interest rates high enough that borrowers have an incentive to refinance. In light of where rates are today, and looking at borrowers with current notes at 4.5 percent and above, that population has now swelled to 7.4 million - almost a 25 percent increase. This is a relatively conservative assessment though, as those with current rates of 4.25 to 4.5 percent could arguably benefit from refinancing as well. That group adds another 1.7 million borrowers to the population. "On a related note, we also examined how the equity situation in America has changed since we last looked. Due in no small part to 28 consecutive months of...
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 8:36 AM » Mortgage Loan Originator "Target Pricing" in the Fair Lending Bullseye
    Published Mon, Nov 03 2014 8:36 AM by www.cfpbmonitor.com
    Heather S. Klein The Federal Reserve Board indicated it is scrutinizing mortgage loan pricing models that comply with Regulation Z but nonetheless, in the view of the Board, significantly increase fair lending risk. The models set a loan revenue target-based on a higher interest rate, discretionary fees, or both-that varies by mortgage loan originator (MLO). Regulators allege that... More >
    Click Here to Read the Full Article

    Source: www.cfpbmonitor.com
  • Sun, Nov 2 2014
  • 10:23 PM » 5 tips for doing a private mortgage
    Published Sun, Nov 02 2014 10:23 PM by Market Watch
    The pros and cons of loaning money to someone for a mortgage, and tips for how to do it smartly.
  • 10:23 PM » News Release - Fannie Mae Releases September 2014 ...
    Published Sun, Nov 02 2014 10:23 PM by Fannie Mae
    The monthly summary report contains information about Fannie Mae's monthly and year-to-date activities for our gross mortgage portfolio, mortgage- ...
  • 10:20 PM » Fannie Mae: Mortgage Serious Delinquency rate declined in September, Lowest since October 2008
    Published Sun, Nov 02 2014 10:20 PM by Calculated Risk Blog
    Fannie Mae reported yesterday that the Single-Family Serious Delinquency rate declined in September to 1.96% from 1.99% in August. The serious delinquency rate is down from 2.55% in September 2013, and this is the lowest level since October 2008. The Fannie Mae serious delinquency rate peaked in February 2010 at 5.59%. Earlier this week, Freddie Mac reported that the Single-Family serious delinquency rate declined in September to 1.96% from 1.98% in August. Freddie's rate is down from 2.58% in September 2013, and is at the lowest level since December 2008. Freddie's serious delinquency rate peaked in February 2010 at 4.20%. Note: These are mortgage loans that are "three monthly payments or more past due or in foreclosure". Click on graph for larger image The Fannie Mae serious delinquency rate has fallen 0.59 percentage points over the last year, and at that pace the serious delinquency rate will be under 1% in 2016 - although the rate of decline has slowed recently. Note: The "normal" serious delinquency rate is under 1%. Maybe serious delinquencies will be close to normal in late 2016.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • Fri, Oct 31 2014
  • 4:31 PM » Why Hasn't Inflation Picked Up in Japan?
    Published Fri, Oct 31 2014 4:31 PM by WSJ
    Several factors are behind the trend. The main problem is that wage growth has fallen.
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More From MND

Mortgage Rates:
  • 30 Yr FRM 3.88%
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  • 15 Yr FRM 3.11%
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  • Jumbo 30 Year Fixed 3.71%
MBS Prices:
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  • 30YR FNMA 5.0 110-29 (0-02)
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Recent Housing Data:
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  • Refinance Index 0.90%
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  • FHFA Home Price Index 0.67%