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  • Thu, May 15 2014
  • 10:41 PM » College debt is still keeping grads from buying homes
    Published Thu, May 15 2014 10:41 PM by Washington Post
    Young people are drowning in student loans, and that debt is holding them back from reaching grown-up financial milestones, such as buying a house, according to a report released this week. The housing market recovered a bit last year as home prices rose 11 percent and overall mortgage debt increased, but 30-year-olds missed out on most of those gains, according to a new report by the Federal Reserve Bank of New York. Researchers also found that those with student loans were less likely to own a home than those without college debt. Read full article >>
    Click Here to Read the Full Article

    Source: Washington Post
  • 10:40 PM » Will 'technical tsunami' ooze into Friday trading?
    Published Thu, May 15 2014 10:40 PM by CNBC
    With the weekend in sight, traders are likely to play defense Friday after Thursday's big stock market wipeout.
  • 10:40 PM » Yellen: More steps needed to get healthy economy
    Published Thu, May 15 2014 10:40 PM by Market Watch
    WASHINGTON (MarketWatch) -- The U.S. economy has come far since the depths of the financial crisis but "we have further to go to achieve a healthy economy," said Fed Chairwoman Janet Yellen on Thursday. In brief remarks at a National Small Business Week event at the U.S. Chamber of Commerce, Yellen paid tribute to the important role small firms have made to the recovery. A little more than half of the net number of jobs created since exployment began growing in 2010 has been generated by firms with fewer than 250 employees, Yellen said.
  • 10:40 PM » Wildfires In San Diego County Continue To Rage Out Of Control
    Published Thu, May 15 2014 10:40 PM by www.npr.org
    Conditions improved Thursday, with winds dying down and the promise of a cooling trend beginning this weekend. But the latest major fire, near Cal State, San Marcos, is only 5 percent contained.
  • 10:38 PM » Fed's Yellen: Small Businesses Deserve ‘Considerable' Credit for Recovery
    Published Thu, May 15 2014 10:38 PM by WSJ
    Federal Reserve Chairwoman Janet Yellen on Thursday praised small businesses for helping to spur the economic recovery. "America has come a long way since the dark days of the financial crisis, and small businesses deserve a considerable share of the credit for the investment and hiring that have brought that progress," Ms. Yellen said.
  • 10:38 PM » Missing In The Housing Recovery: New Houses
    Published Thu, May 15 2014 10:38 PM by www.npr.org
    Even now, five years after the crash, homebuilding is stuck at half its historical level. And a hoped-for bounce after the harsh winter hasn't materialized. Some analysts blame higher mortgage rates.
  • 3:49 PM » White House: Senate Panel's Housing Vote 'Marks Important Progress'
    Published Thu, May 15 2014 3:49 PM by The Huffington Post
    WASHINGTON (AP) - The White House welcomed bipartisan legislation to overhaul the nation's mortgage financing system that cleared a crucial Senate hurdle on Thursday. The legislation would wind down the giant government-backed lenders Fannie Mae and Freddie Mac. The Senate Banking Committee voted 13-9 to send the bill to the Senate floor. It still faces long odds to pass this year. The bill would phase out Fannie and Freddie and reduce the government's role in guaranteeing mortgage securities. The two firms had to be rescued by a $187 billion taxpayer bailout during the financial crisis. A House Republican bill would go further in privatizing the mortgage market. "Today's vote marks important progress toward completing one of the biggest remaining pieces of post-recession reform of the financial system," White House press secretary Jay Carney said in a statement. The legislation has been in the works for some time and is built on a proposal first advanced by Democratic Sen. Mark Warner of Virginia and Republican Sen. Bob Corker of Tennessee. The bill would create a new Federal Mortgage Insurance Corp. that would provide backstop insurance, available only after a substantial amount of private capital is used up. Investors would pay insurance fees to the corporation while agreeing to put a substantial amount of their own capital at risk. Some civil rights and consumer groups maintain that the government should play a larger role to ensure a steady amount of credit is available to potential homebuyers.
    Click Here to Read the Full Article

    Source: The Huffington Post
  • 3:08 PM » Quarterly Foreclosure Rate is Near Pre-Crisis Levels
    Published Thu, May 15 2014 3:08 PM by WSJ
    The level of new foreclosures are at mid-2006 levels-pretty much back to normal.
  • 1:18 PM » Stubborn Bond Bears Double Down on Money-Losing Wager - Bloomberg
    Published Thu, May 15 2014 1:18 PM by Bloomberg
    Stubborn Bond Bears Double Down on Money-Losing Wager Bloomberg Exhibit B: Investors have boosted short wagers on Treasuries using futures contracts trading on the Chicago Board of Trade to 56 percent more than their five-year average. A few weeks ago, there were the most since March 2008. Bears are sticking to their ...
  • 1:14 PM » Chairman Hensarling's Statement on Senate Banking Committee Action
    Published Thu, May 15 2014 1:14 PM by House Financial Services
    House Financial Services Committee Chairman Jeb Hensarling (R-TX) released the following statement today in response to the Senate Banking Committee's markup of S. 1217, the Housing Finance Reform and Taxpayer Protection Act: "It is always good to see members of Congress working to move the complicated and contentious issue of housing finance reform forward. I've long said we cannot have a healthy economy without sustainable housing finance reform, so I congratulate Senators Johnson and Crapo for their efforts.  It has been almost a year since the PATH Act passed the House Financial Services Committee and regrettably Senate Banking has only now taken action. "The fact remains the window for action this year is quickly closing, and I fear it may already be too late during this Congress with an already full agenda to get meaningful reform bills through both chambers.  Additionally, while there are several commonsense provisions in Senate bill that are similar to those we included in the PATH Act, the Senate bill features a controversial and irresponsible new politicization of mortgage credit insisted by Senate Democrats under the guise of affordable housing.  This wealth redistribution scheme, far worse than that of the current system, would be a multi-billion dollar annual invitation to return to the lower credit standards, higher risks, and unsustainable lending that created the crisis in the first place. "From the beginning of this debate, I have said I am willing to listen to and negotiate in good faith with anyone who produces a plan.  I believe the PATH Act is a better plan that protects hardworking taxpayers, offers greater opportunities for Americans to buy homes they can afford to keep, and creates the sustainable housing finance system our economy desperately needs."
    Click Here to Read the Full Article

    Source: House Financial Services
  • 1:13 PM » Forecast for Housing and the Economy Suggests Gradual Improvement through 2015
    Published Thu, May 15 2014 1:13 PM by Google News
    WASHINGTON (May 15, 2014) – Housing activity was sub-par in the first quarter of this year, dampened in part by severe weather patterns, but an uptrend is expected with healthy underlying demand over the balance of the year and through 2015, according to presentations at a residential real estate forum here during the Realtor® Party Convention & Trade Expo . Lawrence Yun , NAR chief economist, said the U.S. population has been growing steadily, but job creation has not. “When you... Read More
  • 11:53 AM » Statement from NAHB Chairman on Senate Panel?s Passage of Housing Finance Reform Bill
    Published Thu, May 15 2014 11:53 AM by NAHB
    Press Release
  • 11:45 AM » Stocks slammed as bonds catch fire
    Published Thu, May 15 2014 11:45 AM by CNBC
    Selling in stocks and a surge of buying in bonds accelerated after negative reports on two key legs of the economy-manufacturing and housing.
  • 11:43 AM » Fannie-Freddie wind down law unlikely
    Published Thu, May 15 2014 11:43 AM by CNBC
    A Senate panel approved a bill to redesign the U.S. mortgage finance system, but it's unlikely to make it into law.
  • 10:59 AM » Housing-reform bill has insufficient support: Senate panel chief
    Published Thu, May 15 2014 10:59 AM by Market Watch
    WASHINGTON (MarketWatch) -- A proposal that would wind down federally controlled mortgage-finance giants Fannie Mae and Freddie Mac has insufficient support among U.S. lawmakers, and will just serve as a "first step" in Congress's work on housing-finance reform, the chief of the Senate Committee on Banking, Housing, and Urban Affairs said Thursday. "This is not the final product," said Sen. Tim Johnson, a Democrat of South Dakota, at a committee session to work on the bill. "We will continue to work together to improve the bill and attract additional support." The bill likely has enough votes to pass in the committee, but too few to force the entire Senate to consider the legislation. Several committee Democrats are concerned that the legislation would make it too tough to access affordable mortgages. The expected failure of the current housing-reform bill comes on the heels of Fannie and Freddie's federal regulator laying out a new set of goals for the government sponsored enterprises aimed at supporting credit access and curbing banks' exposure to mortgage risk.
  • 10:19 AM » Jobless claims fall to seven-year low
    Published Thu, May 15 2014 10:19 AM by Reuters
    WASHINGTON (Reuters) - The number of Americans filing new claims for unemployment benefits fell last week to its lowest level in seven years, fresh evidence that the labor market was strengthening.
  • 10:19 AM » Consumer prices post biggest gain in 10 months
    Published Thu, May 15 2014 10:19 AM by Reuters
    WASHINGTON (Reuters) - U.S. consumer prices recorded their largest increase in 10 months in April, pointing to some inflation in the economy.
  • 10:19 AM » US output slides at fastest rate in nearly 2 years
    Published Thu, May 15 2014 10:19 AM by CNBC
    U.S. industrial output fell sharply in April, and tempered budding optimism on the economy.
  • 10:19 AM » Fixed Mortgage Rates Remain at Six Month Low
    Published Thu, May 15 2014 10:19 AM by freddiemac.mwnewsroom.com
    Fixed Mortgage Rates Remain at Six Month Low
    Click Here to Read the Full Article

    Source: freddiemac.mwnewsroom.com
  • 10:15 AM » Home builders losing confidence in recovery
    Published Thu, May 15 2014 10:15 AM by CNBC
    A monthly confidence index from the National Association of Home Builders slipped one point from a downwardly revised April figure
  • 8:29 AM » Time to privatize mortgage finance
    Published Thu, May 15 2014 8:29 AM by CNBC
    A fully private mortgage-finance system is the best way to fairly price mortgage-credit risks, says NYU Stern professor Lawrence White.
  • 8:29 AM » Foreclosures fall in April
    Published Thu, May 15 2014 8:29 AM by CNBC
    U.S. foreclosure activity fell in April, as banks scheduled fewer auctions even as they reclaimed more homes, RealtyTrac said on Thursday.
  • 8:28 AM » Five Key Hurdles in Fannie, Freddie Overhaul
    Published Thu, May 15 2014 8:28 AM by WSJ
    The Senate Banking Committee is set to vote Thursday on a bipartisan bill to overhaul Fannie Mae and Freddie Mac-and the nation's broader mortgage-market infrastructure.
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More From MND

Mortgage Rates:
  • 30 Yr FRM 4.24%
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  • 15 Yr FRM 3.39%
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  • Jumbo 30 Year Fixed 4.09%
MBS Prices:
  • 30YR FNMA 4.5 107-16 (0-03)
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  • 30YR FNMA 5.0 109-32 (0-02)
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  • 30YR FNMA 5.5 111-06 (0-00)
Recent Housing Data:
  • Mortgage Apps -7.23%
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  • Refinance Index -10.65%
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  • FHFA Home Price Index 0.67%