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  • Tue, Nov 12 2013
  • 5:03 PM » RBNZ Sees Signs of Loan Limits Starting to Curb Housing Demand - Bloomberg
    Published Tue, Nov 12 2013 5:03 PM by Bloomberg
    RBNZ Sees Signs of Loan Limits Starting to Curb Housing Demand Bloomberg New Zealand's central bank said it sees signs that mortgage lending restrictions introduced last month to prevent a housing bubble are starting to work. A fall in home-building approvals and a drop in attendance at open homes are evidence that the limits on  ...
  • 5:03 PM » Two Fed officials say aggressive policy action still needed
    Published Tue, Nov 12 2013 5:03 PM by Reuters
    MONTGOMERY, Ala./ST. PAUL, Minnesota (Reuters) - The Federal Reserve should keep monetary policy ultra-easy given the economy's tepid growth and an uncertain outlook for jobs growth, two senior officials said on Tuesday, reinforcing views that the U.S. central bank will not taper bond buying before next year.
  • 5:03 PM » Congress Approval Sinks to Record Low 9 Percent in Survey - Bloomberg
    Published Tue, Nov 12 2013 5:03 PM by Bloomberg
    Congress Approval Sinks to Record Low 9 Percent in Survey Bloomberg Congress's job-approval rating fell to a 39-year low last week, declining as a result of a budget impasse that closed the federal government for 16 days. The 9 percent approval in a survey Nov. 7-10 eclipsed the previous low of 10 percent, registered twice last  ... and more »
  • 3:56 PM » U.S. bank regulator refines use of independent consultants
    Published Tue, Nov 12 2013 3:56 PM by Reuters
    WASHINGTON, Nov 12 (Reuters) – A regulator of the top U.S. banks on Tuesday published new ground rules over when it would tell banks to hire outside consultants, after critics accused it of botching a review of past home foreclosures. The Office of the Comptroller of the Currency could require a bank to retain an [...]
  • 3:47 PM » Mount Holly town council vote on settlement expected tomorrow
    Published Tue, Nov 12 2013 3:47 PM by www.cfpbmonitor.com
    Barbara S. Mishkin We understand that the parties are expected to sign the settlement agreement in Township of Mount Holly v. Mt. Holly Gardens Citizens in Action, Inc. sometime today and/or tomorrow and the Mount Holly town council is expected to approve the settlement when it meets tomorrow night. As we reported, the council did not vote last week due... More >
    Click Here to Read the Full Article

    Source: www.cfpbmonitor.com
  • 2:13 PM » October Southland Home Sale Press Release
    Published Tue, Nov 12 2013 2:13 PM by DataQuick
    Little Change Again for Southland Home Prices; Sales Picture Mixed November 12, 2013 Southern California home buying picked up last month compared with September but fell short of a year earlier as sales in inventory-starved, lower-cost markets continued to lag far behind 2012 levels. For the fourth month in a row the region's median sale price more or less moved sideways, though it was still nearly 22 percent higher than October last year, a real estate information service reported. A total of 20,150 new and resale houses and condos sold in Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties last month. That was up 5.4 percent from 19,112 sales in September, and down 4.4 percent from 21,075 sales in October 2012, according to San Diego-based DataQuick. On average, Southland sales have declined 1.1 percent between September and October since 1988, when DataQuick's statistics begin. Last month's sales were 14.4 percent below the average number of sales - 23,572 - in the month of October. Southland sales haven't been above average for any particular month in more than seven years. October sales have ranged from a low of 12,913 in October 2007 to high of 37,642 in October 2003. The median price paid for all new and resale houses and condos sold in the six-county region last month was $383,750, up 0.5 percent from $382,000 in September and up 21.8 percent from $315,000 in October 2012. The $385,000 median this June, July and August was the highest in more than five years. The median price has risen on a year-over-year basis for 19 consecutive months. Those gains have been double-digit - between 10.8 percent and 28.3 percent - over the past 15 months, and they have been greater than 20 percent for the last 10 months. October's median price remained 24.0 percent below the peak $505,000 median in spring/summer 2007. "Our read on the market is that after playing some rapid catch-up, home prices hit a bit of a mid-summer wall...
  • 2:12 PM » Where the Next Huge Real Estate Bubble May Be Building
    Published Tue, Nov 12 2013 2:12 PM by business.time.com
    The 2000s real estate bubble-which burst in 2007 and precipitated a once-in-a-century financial crisis and recession-is not something most folks are excited to see a sequel of. But five years of declining or stagnating housing prices, the market turned around big time in 2012, making some analysts worry that we’re seeing the beginnings of Housing Bubble 2.0. Case-Shiller Home Price Index: Composite 20 data by YCharts As you can see, home prices in most of the country are far from the bubble levels of mid-2000s, but if you drill down deeper to look at individual markets, one sees a different picture. Jed Kolko, housing economist with the real estate site Trulia, has been tracking home prices across the country to see which markets are over and undervalued. In a forthcoming “Bubble Watch” report, he finds that while most of the U.S. real estate market remains significantly undervalued, there are certain markets that are straying into bubble territory. (MORE: The Real Reason New College Grads Can't Get Hired) According to Kolko’s analysis, which looks at several factors like price-to-income ratio, the price-to-rent ratio, and prices relative to their long-term trend, markets in Orange County California and Los Angeles are more than 10% overvalued. Kolko also pegs the Austin, Texas market at 10% overvalued, while 7 other markets range from 4% to 7% overvalued. Those include: San Antonio, TX; Honolulu, HI; San Francisco, CA; Houston, TX; Riverside-San Bernandino, CA; and Oakland, CA Unsurprisingly, these markets — concentrated in Texas and California, have also seen double digit home appreciation over the past year, with Orange County real estate appreciating a whopping 23.4% since October of 2012. So are we in danger of another housing bubble like we experienced last decade? Not quite yet, at least nationally. According to Kolko, the market remains roughly 4% undervalued overall. And in some markets, like Cleveland, Ohio...
    Click Here to Read the Full Article

    Source: business.time.com
  • 1:57 PM » This Recovery's Great If You Were Already Rich - Bloomberg
    Published Tue, Nov 12 2013 1:57 PM by Bloomberg
    This Recovery's Great If You Were Already Rich Bloomberg BlackRock. The Labor market continues to improve. Last week Bureau of Labor Statistics reported 204,000 new positions created, and adjustments to prior months data were upward. But the gains are not all they are cracked up to be. The jobs recovery has  ... and more »
  • 1:43 PM » Two-in-Five Borrowers Shorten Term When Refinancing
    Published Tue, Nov 12 2013 1:43 PM by freddiemac.mwnewsroom.com
    Two-in-Five Borrowers Shorten Term When Refinancing
    Click Here to Read the Full Article

    Source: freddiemac.mwnewsroom.com
  • 1:05 PM » Easier to get a mortgage? For some ...
    Published Tue, Nov 12 2013 1:05 PM by CNBC
    Mortgage credit is still very tight, but there are signs that the noose is loosening somewhat in response to lower mortgage volume.
  • 12:21 PM » Fed's Lockhart Wants to See Higher Inflation Before QE Tapering - Bloomberg
    Published Tue, Nov 12 2013 12:21 PM by Bloomberg
    Fed's Lockhart Wants to See Higher Inflation Before QE Tapering Bloomberg Federal Reserve Bank of Atlanta President Dennis Lockhart said he wants to see inflation accelerate toward the Fed's 2 percent goal before the central bank reduces $85 billion in monthly bond purchases. "I'd like to see some movement toward the target"  ...
  • 12:20 PM » Freddie Mac Further Reduces Taxpayer Exposure With Credit Risk Insurance
    Published Tue, Nov 12 2013 12:20 PM by freddiemac.mwnewsroom.com
    Freddie Mac Further Reduces Taxpayer Exposure With Credit Risk Insurance
    Click Here to Read the Full Article

    Source: freddiemac.mwnewsroom.com
  • 12:20 PM » Statement of FHFA Acting Director Edward J. DeMarco on Freddie Mac Insurance Risk-Sharing Transaction
    Published Tue, Nov 12 2013 12:20 PM by FHFA
    November 12, 2013: Statement of FHFA Acting Director Edward J. DeMarco on Freddie Mac Insurance Risk-Sharing Transaction
  • 11:33 AM » CoreLogic Reports Home Prices Rise by 12 Percent Year Over Year in September
    Published Tue, Nov 12 2013 11:33 AM by www.corelogic.com
    -Analysis Projects Year-Over-Year HPI Growth of 12.5 Percent in October- CoreLogic® (NYSE: CLGX), a leading residential property information, analytics and services provider, today released its September CoreLogic Home Price Index (HPI®) report. Home prices nationwide, including distressed sales, increased 12 percent on a year-over-year basis in September 2013 compared to September 2012. This change represents the 19th consecutive monthly year-over-year increase in home prices nationally. On a month-over-month basis, including distressed sales, home prices increased by 0.2 percent in September 2013 compared to August 2013* . Excluding distressed sales, home prices increased on a year-over-year basis by 10.8 percent in September 2013 compared to September 2012. On a month-over-month basis, excluding distressed sales, home prices increased 0.3 percent in September 2013 compared to August 2013. Distressed sales include short sales and real estate owned (REO) transactions. The CoreLogic Pending HPI indicates that October 2013 home prices, including distressed sales, are expected to rise by 12.5 percent on a year-over-year basis from October 2012 and rise by 0.1 percent on a month-over-month basis from September 2013. Excluding distressed sales, October 2013 home prices are poised to rise 11.2 percent year over year from October 2012 and by 0.1 percent month over month from September 2013. The CoreLogic Pending HPI is a proprietary and exclusive metric that provides the most current indication of trends in home prices. It is based on Multiple Listing Service (MLS) data that measure price changes for the most recent month. "September marked the unofficial five-year anniversary of the start of the housing crisis," said Dr. Mark Fleming, chief economist for CoreLogic. "The five-year home price appreciation for all homes in the nation was 3.4 percent. While there is still room for improvement, the CoreLogic HPI is at the highest level since May 2008."...
    Click Here to Read the Full Article

    Source: www.corelogic.com
  • 10:54 AM » FDIC Releases Economic Scenarios for 2014 Stress Testing
    Published Tue, Nov 12 2013 10:54 AM by content.govdelivery.com
    Press Release FDIC Releases Economic Scenarios for 2014 Stress Testing FOR IMMEDIATE RELEASE November 12, 2013 Media Contact: David Barr (202) 898-6992 dbarr@fdic.gov   The Federal Deposit Insurance Corporation (FDIC) today released the economic scenarios that will be used by certain financial institutions with total consolidated assets of more than $10 billion for stress tests required under the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. The baseline, adverse, and severely adverse scenarios include key variables that reflect economic activity, including unemployment, exchange rates, prices, income, interest rates, and other salient aspects of the economy and financial markets. The baseline scenario represents expectations of private sector economic forecasters. The adverse and severely adverse scenarios are not forecasts, rather, they are hypothetical scenarios designed to assess the strength and resilience of financial institutions and their ability to continue to meet the credit needs of households and businesses under stressed economic conditions. The FDIC coordinated with the Board of Governors of the Federal Reserve System and the Office of the Comptroller of the Currency in developing and distributing these scenarios. Attachments: Scenarios and Data Notes - Excel ( Excel Help ) # # # Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's banking system. The FDIC insures deposits at the nation's 6,940 banks and savings associations and it promotes the safety and soundness of these institutions by identifying, monitoring and addressing risks to which they are exposed. The FDIC receives no federal tax dollars – insured financial institutions fund its operations. FDIC press releases and other information are available on the Internet at www.fdic.gov , by subscription electronically (go to www.fdic.gov/about/subscriptions/index.html ) and may also be obtained...
    Click Here to Read the Full Article

    Source: content.govdelivery.com
  • 10:29 AM » Three Factors That Could Shape the Fate of Housing Overhaul
    Published Tue, Nov 12 2013 10:29 AM by WSJ
    Most political and industry analysts agree that there aren't great odds that Congress will pass a bill addressing the future of Fannie Mae and Freddie Mac before 2014, let alone 2016. But several developments unfolding right now could make the next five or six months among the more consequential periods for housing-finance policy.
  • 10:27 AM » Dalio Says Fed Won't Be Able to Increase Rates for Years - Bloomberg
    Published Tue, Nov 12 2013 10:27 AM by Bloomberg
    Dalio Says Fed Won't Be Able to Increase Rates for Years Bloomberg Ray Dalio, billionaire founder of Bridgewater Associates LP, the world's largest hedge fund-firm, said the U.S. Federal Reserve won't be able to raise interest rates for a number of years. Dalio made the comments at the DealBook conference in New York  ... and more »
  • 9:27 AM » TransUnion: Mortgage Delinquency Rate Drops Nearly 25% in Last Year
    Published Tue, Nov 12 2013 9:27 AM by www.easyir.com
    CHICAGO, IL (Marketwired) - The mortgage delinquency rate (the rate of borrowers 60 days or more delinquent on their mortgage) dropped 23.3% in the past year, ending Q3 2013 at 4.09%. It stood at 5.33% in Q3 2012. The mortgage delinquency rate also dropped on a quarterly basis, down 5.3% from 4.32% in Q2 2013, the seventh straight quarterly decline.
    Click Here to Read the Full Article

    Source: www.easyir.com
  • 9:26 AM » Bank of America CEO Says U.S. Consumers Are Spending More
    Published Tue, Nov 12 2013 9:26 AM by Bloomberg
    Bank of America CEO Says U.S. Consumers Are Spending More Bloomberg Bank of America Corp. (BAC) Chief Executive Officer Brian T. Moynihan said U.S. consumers are in "pretty good shape" and spending more with credit cards. After a lull earlier this year caused by higher tax rates and uncertainty caused by political gridlock,  ...
  • 8:27 AM » Fewer late on their mortgages
    Published Tue, Nov 12 2013 8:27 AM by CNBC
    Fewer homeowners are falling behind on their mortgage payments, aided by rising home values, low interest rates.
  • 8:27 AM » D.R. Horton orders fall 2 percent as housing demand slows
    Published Tue, Nov 12 2013 8:27 AM by Reuters
    (Reuters) - Homebuilder D.R. Horton Inc said its orders fell 2 percent in the fourth quarter due to rising mortgage rates and policy uncertainty in Washington.
  • 8:21 AM » US Treasurys lower after Fed member comments
    Published Tue, Nov 12 2013 8:21 AM by CNBC
    U.S. bonds fell on Tuesday, after Richard Fisher, president of the Federal Reserve Bank of Dallas told CNBC that the Federal Reserve's monetary stimulus program cannot continue forever.
  • 12:59 AM » BofA, Freddie Mac in talks to settle mortgage dispute: WSJ
    Published Tue, Nov 12 2013 12:59 AM by Reuters
    (Reuters) - Bank of America is in talks with Freddie Mac to resolve disputes involving more than $1.4 billion in defective mortgages that Freddie wants the bank to take back, the Wall Street Journal reported, citing people familiar with the matter.
  • 12:58 AM » Dallas Fed president Richard Fisher: QE won't go on forever
    Published Tue, Nov 12 2013 12:58 AM by CNBC
    The Federal Reserve's monetary stimulus program cannot continue forever, Richard Fisher, President of the Federal Reserve Bank of Dallas told CNBC.
  • 12:52 AM » Treasuries Are World's Biggest Losers as Data Boost Taper Bets - Bloomberg
    Published Tue, Nov 12 2013 12:52 AM by Bloomberg
    Treasuries Are World's Biggest Losers as Data Boost Taper Bets Bloomberg Treasuries are set to deliver the world's biggest loss for sovereign bonds this year as stronger-than-expected economic data out of the U.S. adds to the case for the Federal Reserve to reduce asset purchases. U.S. debt with maturities longer than 10 years has  ... and more »
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More From MND

Mortgage Rates:
  • 30 Yr FRM 4.43%
  • |
  • 15 Yr FRM 3.49%
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  • Jumbo 30 Year Fixed 4.21%
MBS Prices:
  • 30YR FNMA 4.5 106-30 (0-06)
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  • 30YR FNMA 5.0 109-07 (0-04)
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  • 30YR FNMA 5.5 110-13 (0-02)
Recent Housing Data:
  • Mortgage Apps -3.31%
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  • Refinance Index -3.75%
  • |
  • FHFA Home Price Index 0.67%