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  • Fri, Oct 28 2016
  • 8:59 AM » U.S. labor costs increase 0.6 percent in third quarter
    Published Fri, Oct 28 2016 8:59 AM by Reuters
    WASHINGTON (Reuters) - U.S. labor costs maintained a steady pace of increase in the third quarter, showing little signs of a significant pickup in wage inflation.
  • 8:31 AM » US GDP data in the spotlight for US bond markets; Fed eyed
    Published Fri, Oct 28 2016 8:31 AM by CNBC
    U.S. government debt prices were under pressure on Friday, as bond investors shifted their attention to the all-important U.S. GDP data due out.
  • Thu, Oct 27 2016
  • 3:57 PM » ‘Shadow Banks' Are on the Rise for Home Loans: Should We Be Afraid?
    Published Thu, Oct 27 2016 3:57 PM by www.realtor.com
    More mortgages are being issued by "shadow banks," which are not traditional financial institutions. So what are they, and should borrowers be scared? The post 'Shadow Banks' Are on the Rise for Home Loans: Should We Be Afraid? appeared first on Real Estate News and Advice - realtor.com .
    Click Here to Read the Full Article

    Source: www.realtor.com
  • 3:55 PM » Freddie Mac: Mortgage Serious Delinquency rate declined slightly in September, Lowest since July 2008
    Published Thu, Oct 27 2016 3:55 PM by Calculated Risk Blog
    Freddie Mac reported that the Single-Family serious delinquency rate declined in September to 1.02%, down from 1.03% in August.  Freddie's rate is down from 1.41% in September 2015. This is the lowest rate since July 2008. Freddie's serious delinquency rate peaked in February 2010 at 4.20%. These are mortgage loans that are "three monthly payments or more past due or in foreclosure".  Click on graph for larger image Although the rate is generally declining, the "normal" serious delinquency rate is under 1%.  The Freddie Mac serious delinquency rate has fallen 0.39 percentage points over the last year, and at that rate of improvement, the serious delinquency rate could be below 1% next month (October). Note: Fannie Mae will report in the next few days.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 3:54 PM » CFPB sending HMDA warning letters
    Published Thu, Oct 27 2016 3:54 PM by www.cfpbmonitor.com
    Richard J. Andreano, Jr. The CFPB announced that it is issuing warning letters to 44 mortgage lenders and mortgage brokers stating that it “has information that appears to show that your company may not be in compliance with certain provisions of the Home Mortgage Disclosure Act (HMDA) and its implementing regulation, Regulation C.” According to the CFPB’s press release, the... More >
    Click Here to Read the Full Article

    Source: www.cfpbmonitor.com
  • 2:20 PM » Further proof that home-buying is increasingly for the wealthy
    Published Thu, Oct 27 2016 2:20 PM by Washington Post
    The proportion of new homes with three-car garages hit an all-time high last year.
    Click Here to Read the Full Article

    Source: Washington Post
  • 2:20 PM » Barclays Is Trying to Cap U.S. Mortgage Penalty at $2 Billion
    Published Thu, Oct 27 2016 2:20 PM by Bloomberg
    Bloomberg Barclays Is Trying to Cap U.S. Mortgage Penalty at $2 Billion Bloomberg Barclays Plc is trying to draw a line at $2 billion in penalties to settle a U.S. investigation into its sale of mortgage securities after it received an opening offer that it considered too high, according to a person with knowledge of the situation ... and more »
  • 12:19 PM » Here's why it seems like bond yields are rising across the whole world today
    Published Thu, Oct 27 2016 12:19 PM by CNBC
    Global bond yields are rising at a rapid clip as traders try to adjust to the idea of a world that isn't flush with easy money from Central Banks.
  • 12:18 PM » Homeownership crawls back up from 50-year low
    Published Thu, Oct 27 2016 12:18 PM by CNBC
    After falling to the lowest level in 50 years, the U.S. homeownership rate bounced up slightly in the third quarter of this year.
  • 10:26 AM » Composition of New Home Sales Financing Shifts in Third Quarter
    Published Thu, Oct 27 2016 10:26 AM by eyeonhousing.org
    NAHB analysis of the most recent Census estimates concerning sources of financing for new home sales reveals that the composition of mortgages by financing method shifted over the third quarter of 2016. The share of new home sales financed with conventional loans expanded at the expense of FHA-insured and VA-backed mortgages. The shift to conventional mortgages indicates continued return to health in the... Read More ›
    Click Here to Read the Full Article

    Source: eyeonhousing.org
  • 8:38 AM » How Utilities AffectYour Homes Affordability
    Published Thu, Oct 27 2016 8:38 AM by www.builderonline.com
    While the price of a home may look like a steal, the utilities may change that opinion.
    Click Here to Read the Full Article

    Source: www.builderonline.com
  • 8:37 AM » US core capital goods orders unexpectedly fall in September
    Published Thu, Oct 27 2016 8:37 AM by CNBC
    Durable goods orders unexpectedly fell, which could temper expectations for an acceleration in business spending in the fourth quarter.
  • 8:17 AM » Hamptons Home Prices Fall the Most Since 2013
    Published Thu, Oct 27 2016 8:17 AM by Bloomberg
    Bloomberg Hamptons Home Prices Fall the Most Since 2013 Bloomberg Home prices in New York's Hamptons fell the most in almost three years as buyers in the beachfront towns sought out less-expensive properties and shunned the middle of the market, priced from $1 million to $5 million. Homes in the area, a second-home ... and more »
  • 8:16 AM » Treasury Selloff Is About to End If Consensus Forecast Is Right
    Published Thu, Oct 27 2016 8:16 AM by Bloomberg
    Bloomberg Treasury Selloff Is About to End If Consensus Forecast Is Right Bloomberg A second-half selloff in the world's biggest bond market is coming to an end, judging by the forecasts from 65 economists. Treasury 10-year yields have risen about 22 basis points to 1.82 percent in October as investors prepared for the Federal Reserve ... and more »
  • 8:16 AM » Gilt Yields Jump to Most Since Referendum as GDP Shifts BOE Bets
    Published Thu, Oct 27 2016 8:16 AM by Bloomberg
    Bloomberg Gilt Yields Jump to Most Since Referendum as GDP Shifts BOE Bets Bloomberg U.K. government bonds fell, sending yields to the highest since Britons voted to leave the European Union, as investors reassessed the future path of monetary policy following a report that showed third-quarter growth exceeded economist estimates ... and more »
  • 8:16 AM » Blackstone profit rises on real-estate exits
    Published Thu, Oct 27 2016 8:16 AM by Market Watch
    Blackstone Group LP's third-quarter profit rose as its private equity, real estate and credit holdings appreciated, amid a strong period for global markets and big asset managers. For the period ended Sept. 30, the New York private-equity firm reported a profit of $312.9 million, or 47 cents a share, versus a year-earlier loss of $254.7 million, or 40 cents a share.
  • 8:16 AM » America's 20 Hottest Real Estate Markets for October 2016
    Published Thu, Oct 27 2016 8:16 AM by www.realtor.com
    Continuing a record-breaking year, demand for real estate in October remained strong for the season despite eerily high prices and scarily low levels of supply, according to new data on inventory and demand on realtor.com®. The post America's 20 Hottest Real Estate Markets for October 2016 appeared first on Real Estate News and Advice - realtor.com .
    Click Here to Read the Full Article

    Source: www.realtor.com
  • 8:15 AM » The Fed May Not Have a Magic Number for Hike Bets: Strategists
    Published Thu, Oct 27 2016 8:15 AM by Bloomberg
    Bloomberg The Fed May Not Have a Magic Number for Hike Bets: Strategists Bloomberg The Federal Reserve may not be so worried about getting markets' buy-in for a rate hike. Last year, as the Fed was looking to get off the zero lower interest-rate bound for the first time in years, former U.S. Treasury Secretary Larry Summers observed ... and more »
  • Wed, Oct 26 2016
  • 5:15 PM » Freddie Mac Issues Monthly Volume Summary for September 2016
    Published Wed, Oct 26 2016 5:15 PM by freddiemac.mwnewsroom.com
    Freddie Mac Issues Monthly Volume Summary for September 2016
    Click Here to Read the Full Article

    Source: freddiemac.mwnewsroom.com
  • 3:57 PM » Cordray remarks to MBA signal continued CFPB focus on servicing, likely petition for rehearing in PHH case
    Published Wed, Oct 26 2016 3:57 PM by www.cfpbmonitor.com
    Richard J. Andreano, Jr. In his remarks at the Mortgage Bankers Association’s annual meeting in Boston on October 25, Director Cordray signaled that mortgage servicing will continue to be a focus of CFPB supervisory and enforcement activity, with the CFPB taking a rigorous approach to compliance. While noting that the CFPB has seen “some progress” in compliance with CFPB... More >
    Click Here to Read the Full Article

    Source: www.cfpbmonitor.com
  • 2:22 PM » â€˜High pressure economy' may punish both stocks and bonds in 2017
    Published Wed, Oct 26 2016 2:22 PM by Market Watch
    The 'high pressure economy' proposed by Federal Reserve Chairwoman Janet Yellen may not have any repercussions this year, but it could have the effect of depressing both stocks and bonds in the next, something which hasn't happened in nearly 50 years.
  • 2:22 PM » Zillow Forecast: Expect "Modest Acceleration" in YoY Growth in September for the Case-Shiller Indexes
    Published Wed, Oct 26 2016 2:22 PM by Calculated Risk Blog
    The Case-Shiller house price indexes for August were released yesterday. Zillow forecasts Case-Shiller a month early, and I like to check the Zillow forecasts since they have been pretty close. From Zillow: September Case-Shiller Forecast: Modest Acceleration in Home Price Growth Will Continue According to Zillow's September Case-Shiller forecast, the national index and both smaller 10 and 20-city indices look set to continue the acceleration in home price growth they exhibited in August. And after more than two years of steady growth around 5 percent annually, the U.S. National Case-Shiller home price index is within striking distance of reaching its July 2006 peak levels, just 0.1 percent off those levels, according to today's data. The September Case-Shiller National Index is expected to grow 5.4 percent year-over-year and 0.7 percent month-to-month (seasonally adjusted). We expect the 10-City Index to grow 4.3 percent year-over-year and 0.3 percent (SA) from July. The 20-City Index is expected to grow 5.1 percent between September 2015 and September 2016, and rise 0.4 percent (SA) from August. Zillow's September Case-Shiller forecast is shown in the table below. These forecasts are based on today's August Case-Shiller data release and the September 2016 Zillow Home Value Index (ZHVI). The September S&P CoreLogic Case-Shiller Indices will not be officially released until Tuesday, November 29. The year-over-year change for the 10-city and 20-city indexes will probably be about the same in the September report as in the August report.  The change for the National index will probably be slightly higher.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 2:22 PM » First-Time Buyers Find Fewer New Homes to Choose From
    Published Wed, Oct 26 2016 2:22 PM by www.realtor.com
    There were fewer more affordably priced, newly constructed homes sold in September, according to a recently released report. The post First-Time Buyers Find Fewer New Homes to Choose From appeared first on Real Estate News and Advice - realtor.com .
    Click Here to Read the Full Article

    Source: www.realtor.com
  • 12:28 PM » Housing bubble fears have returned
    Published Wed, Oct 26 2016 12:28 PM by CNN
    Home prices kept rising in August and September in most major American cities. That's great news for people looking to sell.
  • 12:28 PM » A few Comments on September New Home Sales
    Published Wed, Oct 26 2016 12:28 PM by Calculated Risk Blog
    New home sales for September were reported below the consensus forecast at 593,000  on a seasonally adjusted annual rate basis (SAAR). And the three previous months were all revised down significantly. However, sales were up 29.8% year-over-year in September, and this is the best month for September (NSA) since 2007. And sales are up 13.0% year-to-date compared to the same period in 2015. The glass is more than half full.  This is very solid year-over-year growth. Earlier: New Home Sales at 593,000 Annual Rate in September . Click on graph for larger image. This graph shows new home sales for 2015 and 2016 by month (Seasonally Adjusted Annual Rate).  Sales to date are up 13.0% year-over-year, because of very strong year-over-year growth over the last six months. Overall   I expected lower growth this year , in the 4% to 8% range.  Slower growth seemed likely this year because  Houston (and other oil producing areas) will have a problem this year .   It looks like I was too pessimistic on new home sales this year. 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 September 2016. 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. 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 is a ratio of...
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 9:44 AM » CoreLogic Data Shows 1.8 Million Homes in 13 Western US States at Severe Risk of Wildfire
    Published Wed, Oct 26 2016 9:44 AM by www.corelogic.com
    —California has the most homes at risk and the highest reconstruction cost value— According to new data released today by CoreLogic ® , 1.8 million single-family homes across 13 states in the western U.S. are currently designated as Extreme or High risk of wildfire damage, representing a combined total reconstruction cost value (RCV) of almost $500 billion. An additional 27 million properties, with an estimated RCV of $6.7 trillion, fall into the Moderate or Low risk category. The CoreLogic Wildfire Risk analysis designates risk levels as Extreme , High , Moderate and Low based on a numeric risk score ranging from 1 to 100 assigned to individual properties. This score indicates the level of susceptibility to wildfire, as well as the risk associated with the property being located in close proximity to adjacent high-risk properties or areas. This proximity designation is important since wildfire can easily expand to surrounding properties and cause significant damage even if the original property was not considered high risk. Table 1: Residential Wildfire Risk for the Western U.S. Wildfire Risk Level Wildfire Risk Score (1-100) Total Properties Total Estimated Reconstruction Value Extreme 81-100 893,333 $218,758,051,071 High 61-80 919,392 $281,041,584,567 Moderate 51-60 367,629 $106,630,098,370 Low 1-50 26,745,212 $6,627,236,644,663 Total   28,925,566 $7,233,666,378,671 At the state level, California and Texas rank first and second for the total number of homes in the Extreme wildfire risk category due to a large number of residential properties in these states combined with the proximity of high-risk vegetation and terrain. Combining both the High and Extreme categories, California tops the list with 645,445 properties at risk, followed by Texas (532,317) and Colorado (195,601). Table 3 shows that California also has the highest RCV in each of the top two risk levels at more than $250 billion, followed by Texas...
    Click Here to Read the Full Article

    Source: www.corelogic.com
  • 9:43 AM » Utility bills can be a big shocker when you buy a home
    Published Wed, Oct 26 2016 9:43 AM by CNBC
    If you're in the market for a home, utility bills could make a bargain property unaffordable, according to new data from Trulia.
  • 9:43 AM » Caterpillar's Q3 Earnings Results Put Economy on Watch
    Published Wed, Oct 26 2016 9:43 AM by www.builderonline.com
    Caterpillar lowered its outlook for profit this year, a sign of the well-being of the global industrial economy.
    Click Here to Read the Full Article

    Source: www.builderonline.com
  • 8:23 AM » How the Fed could pull a November surprise
    Published Wed, Oct 26 2016 8:23 AM by CNBC
    The Fed meeting next week is widely expected to be a snoozer, but there is a way the Fed could wake up markets.
  • 8:22 AM » Plunging home improvement stocks raise questions about the housing market
    Published Wed, Oct 26 2016 8:22 AM by CNBC
    Whirlpool, Masco and Sherwin-Williams have all slid on bad earnings news. Is this painting a bearish picture for housing as a whole?
  • Tue, Oct 25 2016
  • 3:57 PM » Masco shares drag homebuilders after earnings miss
    Published Tue, Oct 25 2016 3:57 PM by CNBC
    Masco shares shed 9 percent on Tuesday after the company reported quarterly results that missed analyst expectations.
  • 1:17 PM » Dollar Reaches Highest Since March as Fed Rate-Hike Wagers Climb
    Published Tue, Oct 25 2016 1:17 PM by Bloomberg
    Dollar Reaches Highest Since March as Fed Rate-Hike Wagers Climb Bloomberg The dollar rose to a seven-month high as traders ratcheted up bets on a Federal Reserve interest-rate increase by year-end. The greenback appreciated against its major counterparts for the fourth straight day and extended its October gains. The ... and more »
  • 11:20 AM » Cordray remarks/CFPB report on financial innovation and Project Catalyst include warning on limiting consumer access to financial data
    Published Tue, Oct 25 2016 11:20 AM by www.cfpbmonitor.com
    Scott M. Pearson In a new report, the CFPB discusses its approach to FinTech and financial innovation, its Project Catalyst initiative, and marketplace developments the CFPB views as potentially beneficial for consumers. The report, entitled “Project Catalyst report: Promoting consumer-friendly innovation-Innovation Insights,” was released in conjunction with remarks given by Director Cordray at Money 20/20, a large conference... More >
    Click Here to Read the Full Article

    Source: www.cfpbmonitor.com
  • 10:06 AM » Consumer confidence hits 98.6 in October, versus 101.5 estimate
    Published Tue, Oct 25 2016 10:06 AM by CNBC
    Consumer confidence hits 98.6 in October, versus 101.5 estimate|| 104042554
  • 10:05 AM » US home price gains rose 5.3% in August: S&P/Case-Shiller
    Published Tue, Oct 25 2016 10:05 AM by CNBC
    The S&P/Case-Shiller U.S. National Home Price Index, which measures all nine U.S. census divisions, was up 5.3 percent in August.
  • 8:45 AM » Redfin Housing Demand Index Reached a Three-Year High in September
    Published Tue, Oct 25 2016 8:45 AM by www.redfin.com
    The index shows there is a healthy pool of buyers willing and ready to purchase, should they find the right home. The post Redfin Housing Demand Index Reached a Three-Year High in September appeared first on Redfin Real-Time .
    Click Here to Read the Full Article

    Source: www.redfin.com
  • 8:40 AM » Central banks, data set the stage for US bond markets
    Published Tue, Oct 25 2016 8:40 AM by CNBC
    U.S. government debt prices were slightly lower on Tuesday as investors prepared for more remarks out of central banks, while awaiting data news.
  • 8:38 AM » U.S. may delay fines on major banks for mortgage mis-selling: Sky News
    Published Tue, Oct 25 2016 8:38 AM by Reuters
    (Reuters) - Representatives of the U.S. Department of Justice have signaled recently that penalty imposition on Barclays Plc , Credit Suisse Group AG and Deutsche Bank AG may not conclude until closer to the arrival of the new U.S. administration in January, Sky News reported.
  • 8:38 AM » Black Knight: Mortgage "Foreclosure Rate Falls to Nine-Year Low" in September
    Published Tue, Oct 25 2016 8:38 AM by Calculated Risk Blog
    From Black Knight: Black Knight's First Look at September Mortgage Data: Post-'Brexit' Prepay Activity Remains Strong; Foreclosure Rate Falls to Nine-Year Low • Despite declining from August, September saw the third highest prepayment rate in three years   • September's less-than-one-percent seasonal increase in the delinquency rate was relatively mild by historical standards   • At one percent, the rate of all mortgages that are in active foreclosure fell to its lowest point in nine years   • Non-current mortgage rates continue to struggle in oil states, with Alaska and Wyoming seeing the largest increases over the past six months According to Black Knight's First Look report for September, the percent of loans delinquent increased slightly in September compared to August, and declined 12.2% year-over-year. The percent of loans in the foreclosure process declined 3.4% in September and were down 31.2% over the last year. Black Knight reported the U.S. mortgage delinquency rate (loans 30 or more days past due, but not in foreclosure) was 4.27% in September, up from 4.24% in August. The percent of loans in the foreclosure process declined in September to 1.00%. The number of delinquent properties, but not in foreclosure, is down 292,000 properties year-over-year, and the number of properties in the foreclosure process is down 228,000 properties year-over-year. Black Knight will release the complete mortgage monitor for September on November 7th. Black Knight: Percent Loans Delinquent and in Foreclosure Process   Sept 2016 Aug 2016 Sept 2015 Sept 2014 Delinquent 4.27% 4.24% 4.87% 5.66% In Foreclosure 1.00% 1.04% 1.46% 1.89% Number of properties: Number of properties that are delinquent, but not in foreclosure: 2,165,000 2,151,000 2,457,000 2,849,000 Number of properties in foreclosure pre-sale inventory: 509,000 527,000 737,000 951,000 Total Properties 2,674,000 2,678,000 3,194,000 3,800,000
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • Mon, Oct 24 2016
  • 3:46 PM » Wells Fargo's reputation is tanking, survey finds
    Published Mon, Oct 24 2016 3:46 PM by CNN
    Wells Fargo used to be able to brag of a superior reputation, rich in history, and mostly clean of the mud from the Great Recession.
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