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  • Wed, Jan 15 2014
  • 9:28 PM » Citigroup Sells Servicing to Fannie Mae on $10 Billion Loans - Bloomberg
    Published Wed, Jan 15 2014 9:28 PM by Bloomberg
    Citigroup Sells Servicing to Fannie Mae on $10 Billion Loans Bloomberg Citigroup Inc. (C), the third-largest U.S. lender, agreed to sell servicing rights for about 64,000 Fannie Mae residential first-mortgage loans as it seeks to reduce a portfolio of unwanted assets. The contracts, held in the Citi Holdings unit, are tied to loans with  ... and more »
  • 9:28 PM » December California Home Sale Press Release
    Published Wed, Jan 15 2014 9:28 PM by DataQuick
    California December Home Sales January 15, 2014 An estimated 34,949 new and resale houses and condos sold statewide last month. That was up 4.5 percent from 33,429 in November, and down 12.1 percent from 39,760 sales in December 2012, according to San Diego-based DataQuick. December sales have varied from a low of 25,585 in 2007 to a high of 66,503 in 2003. Last month's sales were the lowest for a December since 2007 and were 19.7 percent below the average of 43,547 sales for all the months of December since 1988, when DataQuick's statistics begin. California sales haven't been above average for any particular month in more than seven years. The median price paid for a home in California last month was $365,000, up 1.4 percent from $360,000 in November and up 22.1 percent from $299,000 in December 2012. Last month was the 22nd consecutive month in which the state's median sale price rose year-over-year, and the 13th straight month with a gain exceeding 20 percent. In March/April/May 2007 the median peaked at $484,000. The post-peak trough was $221,000 in April 2009. Of the existing homes sold last month, 6.7 percent were properties that had been foreclosed on during the past year. That was down from 6.8 percent in November and down from 15.8 percent a year earlier. Foreclosure resales peaked at 58.8 percent in February 2009. Short sales - transactions where the sale price fell short of what was owed on the property - made up an estimated 15.5 percent of the homes that resold last month. That was up from an estimated 12.5 percent the month before and down from 26.7 percent a year earlier. The typical monthly mortgage payment that California buyers committed themselves to paying last month was $1,473, up from $1,418 the month before and up from $1,054 a year earlier. Adjusted for inflation, last month's payment was 36.3 percent below the typical payment in spring 1989, the peak of the prior real estate cycle. It was 48.4 percent below the current cycle's...
  • 9:27 PM » China's Treasury Holdings Rose to Record in November, Data Show - Bloomberg
    Published Wed, Jan 15 2014 9:27 PM by Bloomberg
    China's Treasury Holdings Rose to Record in November, Data Show Bloomberg China's holdings of U.S. Treasuries increased $12.2 billion to a record $1.317 trillion in November, data released on the Treasury Department's website showed. The figures, scheduled for release at 9 a.m. tomorrow in Washington, were inadvertently posted  ...
  • 9:25 PM » Fed's Lockhart Predicts Inflation to Accelerate Toward 2% Goal - Bloomberg
    Published Wed, Jan 15 2014 9:25 PM by Bloomberg
    Fed's Lockhart Predicts Inflation to Accelerate Toward 2% Goal Bloomberg Federal Reserve Bank of Atlanta President Dennis Lockhart, who doesn't vote on monetary policy this year, said he expects inflation that's been "too low" will accelerate toward the Fed's 2 percent target. "Inflation will begin to firm" and "move gradually" closer  ... and more »
  • 9:25 PM » Housing Recovery Is Here to Stay, Dallas Fed Says
    Published Wed, Jan 15 2014 9:25 PM by WSJ
    The U.S. housing recovery appears sustainable, according to new research from the Federal Reserve Bank of Dallas.
  • 4:49 PM » House Passes $1.1 Trillion U.S. Government Spending Bill - Bloomberg
    Published Wed, Jan 15 2014 4:49 PM by Bloomberg
    House Passes $1.1 Trillion U.S. Government Spending Bill Bloomberg The U.S. House passed a $1.1 trillion bipartisan spending bill that would finance the federal government through Sept. 30 and avoid a repeat of October's partial shutdown. Lawmakers voted 359-67 to send the measure to the Senate, which is set to pass it  ... and more »
  • 4:48 PM » SIFMA Issues 2013 Year in Review
    Published Wed, Jan 15 2014 4:48 PM by SIFMA
    SIFMA Issues 2013 Year in Review<br/>http://www.sifma.org/newsroom/2014/sifma_issues_2013_year_in_review/
  • 4:48 PM » More Americans Worse Off Financially Than a Year Ago
    Published Wed, Jan 15 2014 4:48 PM by www.gallup.com
    More Americans say they are financially worse off now than a year ago, reversing the modest improvement this measure made over the past two years.
    Click Here to Read the Full Article

    Source: www.gallup.com
  • 3:17 PM » Got a Mortgage?
    Published Wed, Jan 15 2014 3:17 PM by S&P/Case Shiller
    The New York Times has a long article in the January 15th Business Section on home buyer's difficulties in finding a mortgage and the bank's difficulties in earning a profit from offering mortgages. For home buyers the issues are qualifying for a mortgage and the prospect of higher interest rates as the Fed backs away […]
    Click Here to Read the Full Article

    Source: S&P/Case Shiller
  • 3:15 PM » Fed tapering won't have 'heavy' effects: Lagarde
    Published Wed, Jan 15 2014 3:15 PM by Market Watch
    WASHINGTON (MarketWatch) -- A gradual, well-communicated tapering by the Federal Reserve of its massive asset-purchase plan will not have "massive, heavy and serious consequences," Christine Lagarde, managing director of the International Monetary Fund, said Wednesday at the National Press Club in Washington. In December, the U.S. central bank announced its first tapering step - a marginal cut that economists said was well executed. Earlier in 2013, taper-timing speculation had hit markets, worrying some about whether cutting the program, which was crafted to stimulate growth by exerting downward pressure on long-term rates, would undermine the economy.
  • 3:13 PM » Why American millionaires lag world in real estate
    Published Wed, Jan 15 2014 3:13 PM by CNBC
    A new report shows that American multimillionaires hold 7 percent of their wealth in personal real estate, less than their counterparts in Asia and Europe.
  • 3:12 PM » Former Miami Real Estate Agents Sentenced for Roles in Multimillion-dollar Mortgage Fraud Scheme
    Published Wed, Jan 15 2014 3:12 PM by www.justice.gov
    Two former Miami real estate agents were sentenced today for their roles in a $2.4 million mortgage fraud scheme.
    Click Here to Read the Full Article

    Source: www.justice.gov
  • 2:09 PM » Fed's Beige Book: Economy expanded at a moderate pace with some districts reporting pick-up in growth
    Published Wed, Jan 15 2014 2:09 PM by CNBC
    Click here for the latest on markets following the release of the Federal Reserve's Beige Book. To read more about the history of the Beige Book, click here.. T his is a breaking news item.
  • 1:32 PM » Vital Signs: Were December Payrolls Really Up by 130,000?
    Published Wed, Jan 15 2014 1:32 PM by WSJ
    Revisions are likely to boost the weak December payrolls gain.
  • 1:32 PM » December Bay Area Home Sale Press Release
    Published Wed, Jan 15 2014 1:32 PM by DataQuick
    Bay Area Home Sales Drop to Six-Year Low; Prices Still Up Sharply Yr/Yr January 15, 2014 La Jolla, CA.-----Last month's Bay Area home sales were the slowest for a December in six years, the result of a constrained supply of homes for sale. Prices continued to rise on a year-over-year basis, although at a slower pace than earlier in 2013, a real estate information service reported. A total of 6,714 new and resale houses and condos sold in the nine-county Bay Area last month. That was the lowest for any December since 2007, when 5,065 homes sold. Last month's sales were up 0.8 percent from 6,659 in November, and down 12.7 percent from 7,688 in December 2012, according to San Diego-based DataQuick. Sales almost always increase from November to December, usually around 8 percent. Last month's sales were 21.3 percent below the December average of 8,529 since 1988, when when DataQuick's statistics begin. Bay Area sales haven't been above average for any particular month in more than seven years. The most active December was in 2003 when 12,349 homes sold, while the least active was in 2007, when 5,065 sold. The median price paid for a home in the Bay Area last month was $548,500. That was 0.3 percent lower than $550,000 in November, and 23.9 percent above $442,750 for December 2012. While the median has been at roughly the current level since last summer, it has increased year-over-year for 21 consecutive months. The Bay Area median peaked at $665,000 in June and July 2007, then dropped to a low of $290,000 in March 2009. While much of the median's ups and downs in recent years can be attributed to shifts in the types of homes sold, it now appears most of the current year-over-year gain reflects a rise in home values. For 14 consecutive months the Bay Area median has risen more than 20 percent on a year-over-year basis. "If current trends hold, including year-over-year price appreciation of 20-plus percent, the typical home would be selling for...
  • 1:31 PM » Fed's Evans: Economy Needs Strong Fed Support for Some Time to Come
    Published Wed, Jan 15 2014 1:31 PM by WSJ
    Chicago Fed President Evans said that while the labor market has improved enough for the central bank to begin cutting back on its easy-money policy stance, the Fed will nevertheless need to provide strong support for the economy for some time to come.
  • 12:36 PM » Why Credit Scores Dropped on New Mortgages in 2013
    Published Wed, Jan 15 2014 12:36 PM by WSJ
    A new report provides some evidence that it may have become a little easier for some Americans to get a mortgage as the housing market improves and lenders grapple with a pullback in refinancing amid higher mortgage rates.
  • 12:28 PM » The bear and bull cases for mortgage REITs in 2014
    Published Wed, Jan 15 2014 12:28 PM by Market Watch
    Shareholders of real estate investment trusts that invest in mortgage-backed securities had a tough 2013, and while rising rates continue to pose a risk, there could also be buying opportunities, analysts say.
  • 11:00 AM » U.S. Homebuilders Look Forward To A Favorable 2014
    Published Wed, Jan 15 2014 11:00 AM by S&P/Case Shiller
    U.S. Homebuilders Look Forward To A Favorable 2014<br/>http://feedproxy.google.com/~r/HousingViews/~3/N4UZJZAu1GI/
    Click Here to Read the Full Article

    Source: S&P/Case Shiller
  • 10:58 AM » Where the real risk is in Treasurys
    Published Wed, Jan 15 2014 10:58 AM by CNBC
    The most hated part of the bond market might be the best place to find cover.
  • 10:03 AM » Government Itself Still Cited as Top U.S. Problem
    Published Wed, Jan 15 2014 10:03 AM by www.gallup.com
    The government itself leads Americans' list of the top problems facing the U.S. in January. While mentions have fallen from the high during the October government shutdown, they remain elevated, at 21%. The economy follows at 18%.
    Click Here to Read the Full Article

    Source: www.gallup.com
  • 8:19 AM » BofA Says Fourth-Quarter Profit Quadruples as Mortgage Costs Ebb - Bloomberg
    Published Wed, Jan 15 2014 8:19 AM by Bloomberg
    BofA Says Fourth-Quarter Profit Quadruples as Mortgage Costs Ebb Bloomberg Bank of America Corp., the second-biggest U.S. lender, said fourth-quarter profit more than quadrupled as the company sought to quell claims tied to defective mortgages. The results beat most Wall Street estimates, and the stock rose in early New York  ... and more »
  • 8:15 AM » Mortgage applications surge on lower rates
    Published Wed, Jan 15 2014 8:15 AM by CNBC
    Mortgage applications jumped sharply in the week ending January 10th, as a weaker-than-expected December employment report sent interest rates lower.
  • 8:15 AM » Bank of America posts earnings of 29 cents a share vs. 26 cents estimate
    Published Wed, Jan 15 2014 8:15 AM by CNBC
    This is a breaking news article. Analysts had expected the company to report earnings on a fully reported basis of 26 cents a share on $21.24 billion in revenue, according to a consensus estimate from Thomson Reuters.. What is Bank of America stock doing now?
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Mortgage Rates:
  • 30 Yr FRM 4.44%
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  • 15 Yr FRM 3.49%
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  • Jumbo 30 Year Fixed 4.20%
MBS Prices:
  • 30YR FNMA 4.5 106-21 (-0-12)
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  • 30YR FNMA 5.0 109-02 (-0-06)
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  • 30YR FNMA 5.5 110-07 (-0-07)
Recent Housing Data:
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  • Refinance Index 6.92%
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  • FHFA Home Price Index 0.67%