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  • Fri, Dec 7 2012
  • 1:59 PM » New Nightmare for Home Builders: Not Enough Skilled Workers
    Published Fri, Dec 07 2012 1:59 PM by CNBC
    During the housing crash, two million construction workers left the field, many of them never to return, causing a new nightmare for the nation's home builders.
  • 1:58 PM » Whirlpool CEO: Housing Rebound, Pent-Up Demand to Lift Sales
    Published Fri, Dec 07 2012 1:58 PM by CNBC
    Whirlpool CEO Jeff Fettig told CNBC on Friday he's optimistic that a rebound in the U.S. housing market and pent up consumer demand will boost appliance sales during the next three to five years.
  • 10:59 AM » Consumer Sentiment Tumbles
    Published Fri, Dec 07 2012 10:59 AM by WSJ
    U.S. consumers started December feeling much less upbeat about the economy, according to data released Friday. Expectations plunged.
  • 10:59 AM » NAR Membership Flows With Housing Market
    Published Fri, Dec 07 2012 10:59 AM by Google News
    [click to expand] Membership is very close to falling below the 1M threshold (1,005,838) for the first time since 2003. The rise and fall of NAR membership with the S&P/Case Shiller Home Price Index is a logical trend in a... Read More
  • 10:55 AM » TARP auctions leave money on the table
    Published Fri, Dec 07 2012 10:55 AM by Washington Post
    At 9 a.m. on Nov. 30, the Treasury Department began auctioning off its shares in seven community banks scattered across the country. Each of these institutions had taken money from the government in 2009 during the financial crisis. Read full article >>
    Click Here to Read the Full Article

    Source: Washington Post
  • 10:30 AM » ResCap Requests Mediator for Creditor Talks on Ally Settlement
    Published Fri, Dec 07 2012 10:30 AM by Bloomberg
    ResCap Requests Mediator for Creditor Talks on Ally Settlement Bloomberg Residential Capital LLC asked the judge overseeing its bankruptcy to appoint a mediator for talks with creditors who oppose the mortgage company's plan to drop potential lawsuits against parent Ally Financial Inc. To contact the reporter on this story: Steven ...
  • 10:19 AM » NAR: Residential Sales to Investors: 20 Percent of Residential Market
    Published Fri, Dec 07 2012 10:19 AM by National Association of Realtors
    REALTORS® reported that investors accounted for 20 percent of total residential sales in October (18 percent from September). According to the latest REALTORS® Confidence index, approximately 58 percent of respondents who reported a sale to an investor reported a cash sale (compared to 67 percent in August).
    Click Here to Read the Full Article

    Source: National Association of Realtors
  • 8:15 AM » Greece to shield banks from buyback lawsuits: finance ministry source
    Published Fri, Dec 07 2012 8:15 AM by Reuters
    ATHENS (Reuters) - Greece aims to shield its banks from possible lawsuits linked to a crucial buyback of sovereign bonds and has no plans to extend the acceptance deadline for the scheme beyond Friday, a senior finance ministry official said.
  • 8:14 AM » German central bank cuts 2013 growth forecast
    Published Fri, Dec 07 2012 8:14 AM by Business Week
    German central bank cuts 2013 growth forecast Businessweek BERLIN (AP) - Germany's central bank has sharply cut its 2013 growth forecast to 0.4 percent from 1.6 percent amid continuing concerns about the European economy. The Bundesbank on Friday also lowered its forecast for 2012 growth to 0.7 percent from ... and more »
    Click Here to Read the Full Article

    Source: Business Week
  • 8:00 AM » Are the ECB's Gloomy Economic Forecasts Overly Dramatic?
    Published Fri, Dec 07 2012 8:00 AM by CNBC
    Although the stream of gloomy economic data for the euro zone continues unabated, new downbeat forecasts by the European Central Bank's staff as well as Germany's central bank are too negative, Giles Keating, Head of Research at Credit Suisse said on Friday.
  • 8:00 AM » Stocks Called Lower Ahead of Jobs Report
    Published Fri, Dec 07 2012 8:00 AM by CNBC
    Stocks Called Lower Ahead of Jobs Report
  • 12:21 AM » Sandy is thought to have slowed US hiring in Nov. How Much?
    Published Fri, Dec 07 2012 12:21 AM by Business Week
    Sandy is thought to have slowed US hiring in Nov. Businessweek WASHINGTON (AP) - Superstorm Sandy is widely thought to have slowed U.S. job growth last month. The only question is how much - an answer that's expected to emerge Friday in the government's jobs report for November. Yet once the storm's impact is ... and more »
    Click Here to Read the Full Article

    Source: Business Week
  • 12:18 AM » Building a New Infrastructure for the Secondary Mortgage Market
    Published Fri, Dec 07 2012 12:18 AM by
    CAP's Mortgage Finance Working Group offers suggestions to the Federal Housing Finance Agency to bring liquidity, stability, transparency, and private capital into the secondary mortgage market and ensure that borrowers have access to safe, sustainable, and affordable mortgage products.
    Click Here to Read the Full Article

  • 12:11 AM » Cut the Mortgage Tax Break, Invest in R&D
    Published Fri, Dec 07 2012 12:11 AM by
    As tax hikes and spending cuts loom, we at the Metro Program will continue to harp on the need also to renew the economy. Put simply, U.S. economic strength and fiscal health requires that Congress cut and invest to catalyze economic renewal even as it moves the nation toward fiscal stability. Along those lines, two briefs the program is releasing today as part of our Remaking Federalism / Renewing the Economy series call for budget negotiators to curtail the massive mortgage interest deduction (MID) and use some of the savings to expand and make permanent the critical research and experimentation (R&E) tax credit . These proposals epitomize what needs to happen this winter as Congress moves to fix the debt. To begin with, the time has come to reform the mortgage interest tax break, which continues to grow exponentially, subsidizes excessive housing consumption, and diverts substantial resources from more productive pursuits. Writes our colleague Bruce Katz: “Reforming the MID offers an opportunity for the federal government to realize hundreds of billions of dollars in savings over a 10-year period to contribute towards deficit reduction as well as to invest in tax incentives that are likely to spur more productive and innovative economic growth.” So let’s do it. Let’s limit the deduction now to generate from $350 billion to $500 billion or more for deficit reduction and investments over the next 10 years. At the same time, there are few more overdue, catalytic, and meritorious uses of a sliver of MID-reform revenues than a decisive move to renew the force and clout of the federal R&E tax credit, the stimulative effective of which has waned over time. The R&E tax credit is, after all, an American invention that in 1981 announced to the world that the United States placed a high priority on cultivating an innovation-driven economy and knew how to do it. Since its inception, the...
    Click Here to Read the Full Article

  • 12:09 AM » Donovan says FHA taking steps to avoid bailout
    Published Fri, Dec 07 2012 12:09 AM by NAFCU
    Shaun Donovan, secretary of the Department of Housing and Urban Development, told the Senate Banking Committee Thursday that he can't guarantee the Federal Housing Administration will not require a taxpayer-funded bail out, but said it is taking steps to ensure that won't happen.
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Mortgage Rates:
  • 30 Yr FRM 4.02%
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  • 15 Yr FRM 3.28%
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  • Jumbo 30 Year Fixed 4.27%
MBS Prices:
  • 30YR FNMA 4.5 107-12 (-0-02)
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  • 30YR FNMA 5.0 109-09 (0-00)
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  • 30YR FNMA 5.5 110-29 (0-01)
Recent Housing Data:
  • Mortgage Apps 4.36%
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  • Refinance Index 10.47%
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  • Purchase Index -0.82%