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  • Mon, Dec 30 2013
  • 10:05 PM » Fed's Fisher says his FOMC vote will reflect concerns on bond buying
    Published Mon, Dec 30 2013 10:05 PM by Reuters
    WASHINGTON (Reuters) - Dallas Federal Reserve Bank President Richard Fisher said his votes on the central bank's policy panel in 2014 will reflect his concern that the Fed's bond-buying risks stoking inflation and exposing the institution politically.
  • 4:32 PM » Reduced Fed support reflected in January bond-buying plan
    Published Mon, Dec 30 2013 4:32 PM by Reuters
    NEW YORK (Reuters) - The Federal Reserve plans to purchase about $40 billion in longer-dated federal government debt in 18 operations in January, the New York Fed said on Monday, reflecting the U.S. central bank's decision to trim its support for the economy.
  • 2:22 PM » All-time-high house prices in 10 of top 50 metro areas
    Published Mon, Dec 30 2013 2:22 PM by Market Watch
    Home prices have zipped back into record territory in a handful of American cities, a milestone that comes seven years after the housing bust ravaged the market and the broader economy.
  • 2:20 PM » Merkel says permanently fixing euro zone crisis vital for Germany
    Published Mon, Dec 30 2013 2:20 PM by Reuters
    BERLIN (Reuters) - Chancellor Angela Merkel will tell Germans their fate is so closely entwined with the European Union that it is imperative to come up with answers on how to permanently resolve the euro zone's sovereign debt crisis.
  • 1:02 PM » November Las Vegas Home Sales Press Release
    Published Mon, Dec 30 2013 1:02 PM by DataQuick
    Las Vegas Region November Home Sales Las Vegas-area home sales fell last month to the lowest level for a November in five years, the result of a constrained supply of homes for sale, waning affordability and the ongoing decline in investor purchases. The median sale price dipped slightly month-to-month but was still 26 percent higher than a year earlier, marking the 20th consecutive month with a year-over-year gain, a real estate information service reported. In November, 3,539 new and resale houses and condos closed escrow in the Las Vegas-Paradise metro area (Clark County) . That was down 15.4 percent from the month before and down 14.6 percent from a year earlier, according to San Diego-based DataQuick. The firm tracks real estate trends nationally via public property records. On average, sales between October and November have fallen 3.9 percent since 1994, when DataQuick's complete Las Vegas-area statistics begin. Total November home sales were the lowest for that month since November 2008, when 3,325 sold, and were 18.9 percent below the average number sold during all months of November since 1994. However, resales of houses and condos combined were 5.1 percent above average for the month of November, while sales of newly built homes were 62.0 percent below the November average. The 48,203 homes sold in the region between January and November this year is 1.8 percent lower than the sales tally during the same period last year. Home sales have been limited this year by the thin supply of homes on the market, especially in the lower price ranges. Many owners in affordable neighborhoods still can't afford to sell their homes because they owe more than they are worth, and lenders aren't foreclosing on as many properties, further limiting supply. In November, sales of homes priced below $100,000 dropped 54.1 percent compared with a year earlier, while sub-$200,000 transactions fell 32.9 percent year-over-year. The number of homes that sold for $200,000 or...
  • 12:41 PM » The biggest small-business stories of 2013
    Published Mon, Dec 30 2013 12:41 PM by Washington Post
    It was a roller coaster ride for small-business owners this year. In Washington, during a year often defined more by what didn't get accomplished than what did, there were still some high points for entrepreneurs. Many applauded as regulators removed some of the barriers to raising capital and approved another near-record volume of government-backed loans. However, they also watched as lawmakers pumped the brakes on bills to overhaul the tax code and immigration system and, at one point, actually brought the entire federal government to a halt. Read full article >>        
    Click Here to Read the Full Article

    Source: Washington Post
  • 11:00 AM » Homebuyer Speed Holds Steady in November With 27 Percent of Homes Selling in Two Weeks or Less
    Published Mon, Dec 30 2013 11:00 AM by
    Market speed remained stable for the third consecutive month in November. Read More The post Homebuyer Speed Holds Steady in November With 27 Percent of Homes Selling in Two Weeks or Less appeared first on Redfin Real Estate Blog .
    Click Here to Read the Full Article

  • 11:00 AM » LPS Home Price Index Report: October 2013 Transactions
    Published Mon, Dec 30 2013 11:00 AM by LPS
    LPS Home Price Index Report: October 2013 Transactions<br/>
  • 10:59 AM » The Wind Down of TARP is Almost Complete
    Published Mon, Dec 30 2013 10:59 AM by
    The U.S. Treasury Department made significant progress towards completing the wind down of the Troubled Asset Relief Program (TARP) in 2013. Treasury fully exited the taxpayers' investment in General Motors (GM), recovered an additional $5.9 billion of the investment in Ally Financial (Ally), and substantially wound down the remaining bank investments. Forty banks repaid taxpayers and Tr easury auctioned or otherwise sold our positions in 81 institutions. To date, Treasury has rec ouped $432.8 billion on all TARP investments - including the disposition of Treasury's remaining investment in AIG - compared to $421.9 billion disbursed. In December of 2012, GM repurchased 200 million shares of GM common stock from Treasury. At that time, Treasury announced that we would sell the remaining shares gradually over the following 12-15 months, and we began doing so in January. Over the course of the year, GM's common stock was added to the S&P 500 index, and the average daily volume of trading increased. As a result, we were able to complete the exit earlier this mon th . Treasury's investment in the American auto industry was part of President Obama's broader response to the financial crisis. Had the Administration not acted to support the automotive industry, the cost to the country would have been substantial - in terms of lost jobs, lost tax revenue, reduced economic production, and other consequences. We recovered $39 billion from the original GM investment, and our actions have enabled the industry to rebound. Since 2009, more than 370,000 new auto jobs have been created, and GM, Chrysler, and Ford are profitable, competitive and growing. In 2013, Ally, now the only remaining investment under the Automotive Industry Financing Program, completed an important restructuring plan that Treasury announced last year as a pathway to exit. Ally sold its international operations for more than $9 billion. In addition, the company addressed the legacy mortgage...
    Click Here to Read the Full Article

  • 9:53 AM » US stocks open little changed; home sales data ahead
    Published Mon, Dec 30 2013 9:53 AM by CNBC
    Stocks began little changed on Monday after a second week of gains, with the S&P 500 readying for its largest yearly rise since 1997.
  • 9:04 AM » Wells Fargo to Pay Fannie Mae $591 Million to Resolve Claims - Bloomberg
    Published Mon, Dec 30 2013 9:04 AM by Bloomberg
    Wells Fargo to Pay Fannie Mae $591 Million to Resolve Claims Bloomberg Wells Fargo & Co., the largest U.S. home lender, agreed to pay Fannie Mae $591 million to resolve repurchase demands on loans sold to the government-backed firm before Jan. 1, 2009. The bank paid $541 million in cash to Washington-based Fannie Mae  ...
  • 9:04 AM » Flagstar Reaches Settlement with Freddie Mac over Mortgage Repurchase Obligations
    Published Mon, Dec 30 2013 9:04 AM by Flagstar
    Agreement Follows Previously Announced Resolution with Fannie Mae TROY, Mich., Dec. 30, 2013 /PRNewswire/ -- Flagstar Bancorp, Inc. (NYSE: FBC) ("Flagstar" or the "Company"), the holding company for Flagstar Bank, FSB (the "Bank"), today announced that the Bank has entered into an agreement with the Federal Home Loan Mortgage Corporation ("Freddie Mac") to resolve substantially all of the repurchase requests and obligations associated with loans originated between January 1, 2000 and December 31, 2008 and sold to Freddie Mac. The total resolution amount is $10.8 million, but after paid claim credits and other adjustments, the Bank will pay $8.9 million to Freddie Mac. The amount of ...
  • 8:17 AM » Stock futures little changed ahead of home sales data
    Published Mon, Dec 30 2013 8:17 AM by Reuters
    NEW YORK (Reuters) - U.S. stock index futures were little changed on Monday, in the wake of the best two-week advance for the S&P 500 in five months, and ahead of data on the housing market.
  • 8:16 AM » Treasurys inch up ahead of pending-home sales
    Published Mon, Dec 30 2013 8:16 AM by Market Watch
    NEW YORK (MarketWatch) -- Treasury prices edged higher Monday ahead of data on pending-home sales, as the 10-year note yield continued to trade around the pivotal level of 3%. The benchmark note yield, which falls as prices rise, recently traded at 2.990%, down 1.5 basis points on the day, but climbed as high as 3.019% in morning trade. The 30-year bond yield fell 1 basis point to 3.920%. The 5-year note yield fell 1.5 basis points to 1.720%.
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