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  • Tue, May 6 2014
  • 8:51 PM » Stein Sees Fed in 'Good Position' to End QE Without Volatility - Bloomberg
    Published Tue, May 06 2014 8:51 PM by Bloomberg
    Stein Sees Fed in 'Good Position' to End QE Without Volatility Bloomberg Jeremy Stein, in one of his last speeches as a Federal Reserve governor, said policy makers are set for a smooth end to their bond-buying program that won't whipsaw investors with shifting interest-rate expectations. Investors "almost uniformly expect" that ... and more »
  • 8:45 PM » Housing finance vote soon: Aide
    Published Tue, May 06 2014 8:45 PM by CNBC
    The vote had been delayed in order to build support for the plan that would wind down Fannie Mae and Freddie Mac.
  • 4:02 PM » What's Right with Housing?
    Published Tue, May 06 2014 4:02 PM by Calculated Risk Blog
    There have been quite a few hand-wringing articles lately discussing the problems with housing. Most articles point to some of these suspects: 1) Existing home sales were down 7.5% year-over-year in March. 2) New home sales were down 13% year-over-year in March and down slightly Q1 over Q1. 3) Housing starts were down 5.9% year-over-year in March, and down 2% Q1 compared to Q1 2013. 4) The 4-week average of the Mortgage Bankers Association (MBA) mortgage purchase index is down 19% compared to the same week last year. 5) Mortgage credit is still tight. 6) Mortgage rates are up significantly from last year. 7) The homeownership rate is still falling. 8) Younger people prefer renting and more ...
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 4:02 PM » Long bond price rises as traders await Yellen
    Published Tue, May 06 2014 4:02 PM by Reuters
    NEW YORK (Reuters) - The 30-year bond and other long-maturity U.S. Treasuries rose on Tuesday in thin, meandering trade ahead of potentially market-moving congressional testimony by Federal Reserve Chair Janet Yellen.
  • 4:02 PM » Wonkblog: Is owning a house part of the ‘American Dream'? Depends on where you live.
    Published Tue, May 06 2014 4:02 PM by Washington Post
    New data from the Census Bureau last week showed that the rate of homeownership in the United States is at its lowest level in nearly 20 years: 64.8 percent of American families now own their own homes down 4.4 percentage points from the peak of 69.2 percent see in 2004. And at least some analysts are saying that that number is likely to sink lower as younger Americans put off marriage with home purchases following suit. Read full article >>
    Click Here to Read the Full Article

    Source: Washington Post
  • 4:02 PM » UBS defeats shareholders' U.S. appeal over mortgage losses, tax probe
    Published Tue, May 06 2014 4:02 PM by Reuters
    NEW YORK (Reuters) - A federal appeals court in New York rejected appeals by UBS AG shareholders seeking to hold the Swiss bank liable for their losses for having concealed its exposure to risky mortgage-backed securities and helping clients evade U.S. taxes.
  • 2:34 PM » The Economic Cost of Crisis
    Published Tue, May 06 2014 2:34 PM by WSJ
    Of the many costs of political crises and natural disasters, the longest lasting--and hardest to tally--can be the economic toll.
  • 1:29 PM » Einhorn Finds Dinner Chat With Bernanke 'Frightening' - Bloomberg
    Published Tue, May 06 2014 1:29 PM by Bloomberg
    Einhorn Finds Dinner Chat With Bernanke 'Frightening' Bloomberg David Einhorn, manager of the $10 billion Greenlight Capital Inc., said he found a recent dinner conversation with former Federal Reserve Chairman Ben S. Bernanke scary. "I got to ask him all these questions that had been on my mind for a long time," ... and more »
  • 1:26 PM » 4 years later, flash crash is still being felt
    Published Tue, May 06 2014 1:26 PM by CNBC
    The Dow slumped nearly 1,000 points in a flash crash on May 6, 2010, inciting intense scrutiny that's still being felt four years later.
  • 11:50 AM » Is the US economy about to do something it rarely does anymore?
    Published Tue, May 06 2014 11:50 AM by www.aei-ideas.org
    The US economy just might do something in the second quarter that it hasn’t done too often of late: grow at a 4% or faster annual rate, adjusted for inflation. Economists at Deutsche Bank are looking for 4.2% real GDP … read more >
    Click Here to Read the Full Article

    Source: www.aei-ideas.org
  • 10:53 AM » Bond Report: Long-term Treasurys extend gains ahead of auctions
    Published Tue, May 06 2014 10:53 AM by Market Watch
    Long-term Treasury demand continues to surge as investors buy long-term debt.
  • 10:52 AM » Realtors® Report Positive Outlook in Commercial Market with Increases in Sales Volume, Income
    Published Tue, May 06 2014 10:52 AM by Google News
    WASHINGTON (May 6, 2014) – Realtors ® who practice commercial real estate reported an increase in sales transaction volume and medium gross annual income last year, according to the 2014 National Association of Realtors ® Commercial Member Profile . NAR commercial members who were surveyed conduct all or part of their activity in commercial sales, leasing, brokerage and development for land, office and industrial space, multifamily, and retail buildings, as well... Read More
  • 10:23 AM » New grant helps Homeownership Preservation Fund continue aid to distressed homeowners
    Published Tue, May 06 2014 10:23 AM by National Housing Conference
    News from NHC's family of members by Radiah Shabazz, National Housing Conference NHC member Homeownership Preservation Fund (HPF) was recently awarded a grant from the National Foreclosure Mitigation Counseling (NFMC) Program to continue serving homeowners facing distress through it Homeowners HOPE™ Hotline. The hotline provides callers with suggestions on how to navigate financial hardship and prevent foreclosure through free, confidential foreclosure prevention counseling in over 170 languages from HUD-approved housing counselors. The service is available 24 hours a day, seven days a week.   The NFMC Program is administered through NHC member NeighborWorks America® and has awarded HPF funds for eight consecutive years.               "We graciously thank the National Foreclosure Mitigation Counseling (NFMC) Program for this announcement and for their unwavering support for the critical work that counselors do every day for the millions of Americans still dealing with financial stress," HPF CEO Colleen Hernandez said in a press release. "T hese funds are needed so that we can continue to help the thousands of homeowners that call us daily under significant financial distress, and still struggling to keep their home." Hernandez said that seven out of 10 people who call the hotline for counseling report they are still in their homes after a year. The financial counsel they receive through HOPE™ Hotline has assisted in preventing these potential foreclosures. The efforts of HPF are an example of the important role foreclosure counseling plays in preventing homeowners from losing their property. Last year we awarded NeighborWorks America® at the 2013 NHC Gala for its work with their affiliates on foreclosure counseling. Their work through programs like HPF demonstrates how foreclosure education is an important factor in understanding...
    Click Here to Read the Full Article

    Source: National Housing Conference
  • 9:18 AM » American Homes 4 Rent to Start Offer of Rental-Home Bonds - Bloomberg
    Published Tue, May 06 2014 9:18 AM by Bloomberg
    American Homes 4 Rent to Start Offer of Rental-Home Bonds Bloomberg American Homes 4 Rent (AMH), the largest publicly traded U.S. single-family landlord, said an affiliate plans to sell bonds backed by its rental properties. The offering will begin this week, the Agoura Hills, California-based company said today in a statement.
  • 9:17 AM » Home buyers want new, but won't pay for it
    Published Tue, May 06 2014 9:17 AM by CNBC
    Just 46 percent of the people who strongly prefer a new home are willing to pay the 20 percent premium that new homes cost, says a new survey from Trulia.
  • 9:17 AM » U.S. trade deficit narrows in March, exports bounce back
    Published Tue, May 06 2014 9:17 AM by Reuters
    WASHINGTON (Reuters) - The U.S. trade deficit narrowed in March as exports rebounded, but the improvement was probably not enough to help first-quarter growth.
  • 8:34 AM » The bond market is giving the stock market angst
    Published Tue, May 06 2014 8:34 AM by CNBC
    The yield on the 10-year note has become a barometer for stocks as it hovers near the bottom of this year's range. At the same time, the yield curve has been flattening, meaning yields on shorter-duration securities are getting closer to longer-term rates; this is usually a bad sign for stocks.
  • 8:33 AM » Will Yellen Drop a Bombshell Wednesday?
    Published Tue, May 06 2014 8:33 AM by WSJ
    The Wall Street Journal's Daily Report on Global Central Banks for Tuesday, May 6, 2014 Sign up for the newsletter: http://on.wsj.com/grandcentralsignup . Last week's U.S. jobs report has done very little to shake the market's conviction that the Federal Reserve won't start raising short-term interest rates until well into 2015 and that it will move slowly once it starts. Developments in Treasury markets and interest rate futures markets are consistent with this story: Yields on one-year Treasury securities remain pinned just below 0.1% and yields on two-year Treasury notes are anchored below 0.45%. Eurodollar futures and fed funds futures contracts - which investors trade to make bets on the outlook for short-term rates -- have barely budged since early April. The question that looms over Wall Street this week - and probably the months ahead - is whether Janet Yellen will say anything to shake this faith.
  • 8:33 AM » China's property bubble has burst - report
    Published Tue, May 06 2014 8:33 AM by CNN
    Economists at Nomura have made their call: China's property bubble has burst, they say, and the country's economy could slow dramatically unless Beijing steps in with new stimulus measures.
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More From MND

Mortgage Rates:
  • 30 Yr FRM 3.95%
  • |
  • 15 Yr FRM 3.13%
  • |
  • Jumbo 30 Year Fixed 3.90%
MBS Prices:
  • 30YR FNMA 4.5 108-09 (0-00)
  • |
  • 30YR FNMA 5.0 110-21 (0-01)
  • |
  • 30YR FNMA 5.5 111-18 (0-00)
Recent Housing Data:
  • Mortgage Apps 11.56%
  • |
  • Refinance Index 23.29%
  • |
  • FHFA Home Price Index 0.67%