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  • Mon, Jan 13 2014
  • 10:13 PM » Google Buys Nest; May Soon Know How Cool You Like Your Home
    Published Mon, Jan 13 2014 10:13 PM by
    The search giant bought Nest, the home automation startup with smart thermostats and smart smoke detectors that are found in homes around the world. It signals a tipping point for "the Internet of things."
  • 10:12 PM » Traders eye retail sales data, earnings as volatility jumps
    Published Mon, Jan 13 2014 10:12 PM by CNBC
    Traders are eyeing Tuesday's retail sales data and earnings as possible catalysts after stocks were rocked in volatile trading Monday.
  • 10:11 PM » The Housing Statistic to Kick Off 2014
    Published Mon, Jan 13 2014 10:11 PM by National Housing Conference
    Developing solutions through research by Lisa Sturtevant, Ph.D., Center for Housing Policy The housing statistic for 2014 is 25%. The Center for Housing Policy will release its annual Housing Landscape report in February, which will show that more than 25% of low- and moderate-income renters in the U.S. spend more than half of their income on housing costs. These are renting households with members who work at least 20 hours per week and have household incomes of no more than 120% of area median income. These are child care workers and librarians, restaurant workers and janitorial staff, customer service representatives and administrative assistants. These are the workers who serve the residents in our communities and work for the businesses that drive our local economies. Even as economic conditions improve and the housing market recovers, the number of severely cost-burdened households has increased since the recession ended. In 2012, more than 10 million renters across the country spend half of their income on rent, leaving worryingly little for food, health care, transportation, savings and emergencies. Local affordability varies considerably, and Housing Landscape will provide detailed data for over 200 metropolitan areas across the country. In addition, the Center will provide guidance to local housing policymakers, advocates and practitioners to help them understand how to use these statistics to talk to decision-makers about the housing challenges in their communities. Other statistics you can use in 2014: 0 -the number of metro areas where a housekeeper or waiter could afford to rent a typical two-bedroom apartment in 2013 (Center for Housing Policy, Paycheck to Paycheck ).  44% -the increase between 2000 and 2010 in the combined housing plus transportation costs for the typical household in the nation's largest metro areas (Center for Housing Policy, Losing Ground ).  50% -share of state and local officials who agree that there is "a...
    Click Here to Read the Full Article

    Source: National Housing Conference
  • 10:10 PM » Exclusive: FBI suspects front running of Fannie, Freddie in swaps market
    Published Mon, Jan 13 2014 10:10 PM by Reuters
    (Reuters) - Wall Street traders may be manipulating a key derivatives market and front running Fannie Mae and Freddie Mac, hurting the US-owned mortgage giants in the process, according to an FBI intelligence bulletin reviewed by Reuters.
  • 4:44 PM » Stocks Have Their Worst Day in Two Months
    Published Mon, Jan 13 2014 4:44 PM by
    (NEW YORK) - The stock market is down the most in two months, continuing a weak start to the year. The energy sector slumped as the price of crude oil declined. Traders were also worried about more cuts in the Federal Reserve’s stimulus program following remarks from policymaker at the central bank. The Dow Jones industrial average lost 179 points, or 1.1 percent, to close at 16,257 Monday. The Standard & Poor’s 500 index fell 23 points, or 1.3 percent, to 1,819. The Nasdaq composite fell 61 points, or 1.5 percent, to 4,113. Stocks are getting off to a poor start this year. The Dow is down 2 percent and has risen only twice in 2014. Consumer discretionary and energy stocks fell the most in the S&P 500 index. Bond prices rose.
    Click Here to Read the Full Article

  • 4:43 PM » The case against the housing bubble
    Published Mon, Jan 13 2014 4:43 PM by
    Brian Wesbury and Bob Stein make the case against housing having going straight from depression to bubble: One measure of a bubble is price-to-rent ratios, calculated using the Fed's quarterly report on the market value of owner-occupied real estate versus … read more >
    Click Here to Read the Full Article

  • 3:17 PM » Low Participation Rate isn't so Mysterious
    Published Mon, Jan 13 2014 3:17 PM by
    In December, the U.S. participation rate-that's the share of the working-age population that's working or looking to work-dropped to its lowest percentage in four decades. In Washington, bad news means somebody must be blamed, so some Republicans (e.g.: Rep. Lynn Jenkins and Rep. Marsha Blackburn) have decided that someone is President Obama.
    Click Here to Read the Full Article

  • 3:11 PM » US Posts Record December Budget Surplus on Fannie Mae Payments - Bloomberg
    Published Mon, Jan 13 2014 3:11 PM by Bloomberg
    US Posts Record December Budget Surplus on Fannie Mae Payments Bloomberg The U.S. posted a record December budget surplus as higher payroll taxes, payments from Fannie Mae and Freddie Mac, and a declining unemployment rate helped improve the government's finances. Revenue exceeded spending by $53.2 billion,  ...
  • 3:11 PM » Jobless drop forces Fed's hand on forward guidance: Lockhart
    Published Mon, Jan 13 2014 3:11 PM by Reuters
    ATLANTA (Reuters) - The Federal Reserve should clarify its future plans for raising interest rates now that U.S. unemployment has dropped to 6.7 percent, close to the central bank's stated threshold of 6.5 percent for considering tighter policy, a top Fed official said.
  • 1:51 PM » Housing, Banking, and the Recovery: The Outlook
    Published Mon, Jan 13 2014 1:51 PM by
    The economic outlook is increasingly positive, boosted by housing, banking, and labor market improvements. While the Federal Reserve recently eased its bond-buying program, indicating monetary policy is on the path back to normal, full normalization will take time and be based on economic data. The following is adapted from a presentation by the president and CEO of the Federal Reserve Bank of San Francisco to Lambda Alpha International and the Arizona Bankers' Association in Phoenix, Arizona, on January 7, 2014.
    Click Here to Read the Full Article

  • 1:03 PM » The most important financial crisis chart ever
    Published Mon, Jan 13 2014 1:03 PM by CNBC
    Using data on safe assets from Yale's Gary Gorton, we charted the collapse of MBS, bank debt and the GSEs. The results are stunning.
  • 12:32 PM » Americans see stable inflation over the year: new Fed survey
    Published Mon, Jan 13 2014 12:32 PM by Reuters
    NEW YORK (Reuters) - A freshly launched survey released Monday found that consumer expectations for overall inflation remained stable in the recent months for both the short- and medium-term horizon.
  • 12:25 PM » CFPB revises three mortgage publications
    Published Mon, Jan 13 2014 12:25 PM by
    Barbara S. Mishkin The CFPB has issued a notice announcing that it has made revisions to the following three mortgage-related consumer publications: “What You Should Know About Home Equity Lines of Credit,” “Consumer Handbook on Adjustable-Rate Mortgages, and “Shopping for Your Home Loan, Settlement Cost Booklet.” The notice indicates that the revisions consist of technical and conforming changes... More >
    Click Here to Read the Full Article

  • 12:24 PM » House Financial Services Committee to hold hearing on QM rule
    Published Mon, Jan 13 2014 12:24 PM by
    Barbara S. Mishkin The House Financial Services Committee has announced that on Tuesday, January 14, it will hold a hearing entitled “How Prospective and Current Homeowners Will Be Harmed by the CFPB's Qualified Mortgage Rule." The witnesses scheduled to appear are: (1) Jack Hartings, President and Chief Executive Officer, The Peoples Bank Co., on behalf of the Independent... More >
    Click Here to Read the Full Article

  • 12:15 PM » Fannie Mae: Housing's Contribution to GDP Expected to Improve from 2013
    Published Mon, Jan 13 2014 12:15 PM by Fannie Mae
    2014: Private Forces Move to the Fore.
  • 10:18 AM » Krugman: 'Baseball bat' austerity is over
    Published Mon, Jan 13 2014 10:18 AM by CNBC
    Growth in both the U.S. and Europe looks set to return after long years of fiscal restraint but long-term fears remain, says Nobel prize-winning economist Paul Krugman.
  • 10:17 AM » Wonkblog: Stanley Fischer saved Israel from the Great Recession. Now Janet Yellen wants him to help save the U.S.
    Published Mon, Jan 13 2014 10:17 AM by Washington Post
    Every August, central bankers from across the globe, who collectively pull the levers of the world economy, descend on Grand Teton National Park in Wyoming. They enjoy a symposium of big economic ideas and strenuous afternoon hikes. At one of their dinners a few years ago, Federal Reserve Chairman Ben S. Bernanke looked around at some fellow titans of finance. Read full article >>        
    Click Here to Read the Full Article

    Source: Washington Post
  • 8:55 AM » Short Sales: Dispelling the Myths
    Published Mon, Jan 13 2014 8:55 AM by Freddie Mac
    By SVP Tracy Mooney In this installment of “Dispelling the Myths,” we’re focusing on short sales – when a property is sold for less than the balance remaining on the mortgage loan. The short sale is an important tool for helping distressed homeowners avoid foreclosure and eliminate their mortgage debt. And thanks to key changes we’ve made in the program, Freddie Mac short sales today are taking less time to process on average than ever before. But for a lot of borrowers, short sales remain a mystery. Here are eight common misconceptions about short sales – and the facts every distressed homeowner should know. Read More
  • 8:54 AM » 5 ways the jumbo mortgage market will change in 2014
    Published Mon, Jan 13 2014 8:54 AM by Market Watch
    Wealthy borrowers will have options in 2014, but don't expect a repeat of last year's easy lending.
  • 8:53 AM » US bonds await earnings for hints on economy
    Published Mon, Jan 13 2014 8:53 AM by CNBC
    U.S. bonds traded flat on Monday, awaiting further hints about the strength of the economy from fourth quarter earnings.
  • 8:53 AM » New Fed is a 'dream team': El-Erian
    Published Mon, Jan 13 2014 8:53 AM by CNBC
    If Obama's three nominees to the Fed are approved, the country would have a dream team at the head of the central bank, says Pimco's Mohamed El-Erian.
  • 8:53 AM » Central Station: Fed Taper Still on Course, For Now
    Published Mon, Jan 13 2014 8:53 AM by WSJ
    The Wall Street Journal's Daily Report on Global Central Banks for Monday, Dec. 13 1) Hilsenrath on the trouble with bubbles 2) Jobs report unlikely to derail tapering; 3) Obama nominates three to Fed board; 4) Lacker says Jan. taper still on table; 5) Bullard sees strong growth lifting inflation; 6) Draghi's QE dilemma; 7) Carstens sees higher inflation in Mexico; 8) Shrinking workforce may worry Fed; 9) Fed sends fewer 'profits' to Treasury 10) Basel cuts banks more slack HILSENRATH'S TAKE My colleague Jason Zweig had a thoughtful column this weekend that should be read by anyone wondering these days about the risks of another financial bubble. As Jason notes, this includes a growing number of people at the Federal Reserve. Jason is the WSJ's personal finance columnist. He examined a book on busting markets in 1720 called, "The Great Mirror of Folly: Finance, Culture, and the Crash of 1720." Jason's comments about investor psychology were particularly fresh and insightful: ?
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More From MND

Mortgage Rates:
  • 30 Yr FRM 4.65%
  • |
  • 15 Yr FRM 4.11%
  • |
  • Jumbo 30 Year Fixed 4.68%
MBS Prices:
  • 30YR FNMA 4.5 103-29 (0-00)
  • |
  • 30YR FNMA 5.0 105-21 (0-01)
  • |
  • 30YR FNMA 5.5 107-02 (-0-08)
Recent Housing Data:
  • Mortgage Apps -1.60%
  • |
  • Refinance Index -4.92%
  • |
  • Purchase Index 2.68%