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  • Thu, Jun 12 2014
  • 4:16 PM » Experts: Builders' Shift to More Home Construction Might Take 1-2 Years
    Published Thu, Jun 12 2014 4:16 PM by WSJ
    Home-building experts predict it might take a year, perhaps two, before the industry fully shifts to constructing a greater volume of homes at lower prices from its current focus of padding profit margins by selling fewer, more expensive homes.
  • 3:55 PM » DealBook: Markets Are Restacking the Building Blocks of a Financial Crisis
    Published Thu, Jun 12 2014 3:55 PM by
    Credit markets are once again badly mispricing risk. Many of the elements that caused the financial crisis are starting to align again.
    Click Here to Read the Full Article

  • 3:54 PM » Fischer Confirmed as Fed's No. 2, Brainard Joins Board
    Published Thu, Jun 12 2014 3:54 PM by WSJ
    The U.S. Senate approved three presidential nominations to the Federal Reserve's board Thursday, including Stanley Fischer as the central bank's vice chairman, where he will play an influential role in advising Chairwoman Janet Yellen.
  • 2:59 PM » 'Cash is still king' in Miami real estate
    Published Thu, Jun 12 2014 2:59 PM by CNBC
    The large number of Miami home buyers are from overseas, and a huge portion of them pay in cash, one realtor says.
  • 2:58 PM » Weidmann Sees Issues With ECB Sovereign Bond Purchases - Bloomberg
    Published Thu, Jun 12 2014 2:58 PM by Bloomberg
    Weidmann Sees Issues With ECB Sovereign Bond Purchases Bloomberg The European Central Bank shouldn't shift risks from one country to another by buying government bonds, Governing Council member Jens Weidmann said. "One particular problem with sovereign bond purchases in a monetary union is that they redistribute ... and more »
  • 2:58 PM » WSJ Survey: Economists Pare Down Their Housing Addition
    Published Thu, Jun 12 2014 2:58 PM by WSJ
    Economists are lowering their expectations for the housing sector, again.
  • 1:29 PM » May Bay Area Home Sale Press Release
    Published Thu, Jun 12 2014 1:29 PM by DataQuick
    Bay Area Home Sales Constrained by Supply; Prices Continue to Rise June 12, 2014 La Jolla, CA.----Bay Area home sales remained below long-term norms in May as potential buyers continued to struggle with a limited inventory, prices near or beyond pre-recession highs, and a home loan environment that, while improved, remains fussy, a real estate information service reported. A total of 7,898 new and resale houses and condos sold in the nine-county Bay Area last month. That was up 4.5 percent from 7,555 in April and down 7.5 percent from 8,541 in May last year, according to San Diego-based DataQuick. Bay Area sales almost always increase from April to May. On average they have risen about 7.2 percent between those two months since 1988, when DataQuick's statistics begin. May sales have ranged from a low of 6,216 in 2008 to a high of 13,567 in 2004. Last month's sales were 17.4 percent below the May average of 9,558 sales since 1988. Bay Area sales haven't been above average for any particular month in more than eight years. "Virtually all the technical indicators are pointing in the direction of more market normalization. We are surprised that the rates of change in that direction remain so pitifully incremental. Right now we're keeping an eye on prices. While some of the Bay Area counties have already re-reached or passed their pre-recession price peaks, the region as a whole is on pace to reach that point later this summer," said John Karevoll, DataQuick analyst. The median price paid for a home in the nine-county Bay Area rose last month to $617,000, the highest since it was $629,000 in November 2007. Last month's median increased 1.1 percent from $610,000 in April, and rose 18.9 percent from $519,000 in May last year. On a year-over-year basis, the median has increased the last 26 months, with gains as high as 33.5 percent (last July). The Bay Area's median peaked at $665,000 in June and July 2007, then dropped to a low of $290,000...
  • 1:27 PM » Treasurys extend gains after strong 30-year auction
    Published Thu, Jun 12 2014 1:27 PM by Market Watch
    NEW YORK (MarketWatch) -- The Treasury Department sold $13 billion in 30 year bonds Thursday at a yield of 3.444%. Bidders offered to buy 2.69 times the amount of debt sold, compared to an average of 2.36 times at the last six sales. Indirect bidders, a group that includes foreign central banks, bought 51.7%, versus 43.0% in recent sales. Direct bidders, which include domestic money managers, purchased another 21.8%, versus an average of 13.8%. The broader bond market extended gains after the auction. Yields on 10-year notes , which move inversely to prices, fell 3.5 basis points to 2.606%.
  • 1:19 PM » Weak home sales: It wasn't the weather
    Published Thu, Jun 12 2014 1:19 PM by CNBC
    A Credit Suisse survey of real estate agents is proving that something other than snow is impacting home sales.
  • 12:51 PM » House Votes to Give Small Business Quicker Tax Writeoffs - Bloomberg
    Published Thu, Jun 12 2014 12:51 PM by Bloomberg
    House Votes to Give Small Business Quicker Tax Writeoffs Bloomberg Small businesses would be able to write off capital purchases more quickly under a $73.1 billion tax reduction passed today by the U.S. House of Representatives. The House voted 272-144 to revive the provision that lapsed at the end of 2013. The new ...
  • 11:44 AM » CEOs make 296 times more than workers
    Published Thu, Jun 12 2014 11:44 AM by CNN
    CEOs earn nearly 300 times what workers do.
  • 11:36 AM » So How Big Is the Remodeling Market Anyway?
    Published Thu, Jun 12 2014 11:36 AM by The Huffington Post
    When it comes to sizing the remodeling industry, the figure most frequently cited is "around $300 billion annually." With interest in the sector heating up, BuildZoom decided to take a closer look at the actual size of the market. It should first be noted that most estimates are based on primary data gathered by the U.S. Census, so this would be a good place to start. The Value of Construction Put in Place Survey (C-30) The C-30 provides monthly estimates for the total dollar values of construction work done in the US. Its methodology considers a range of primary data sources. Of particular note: New private residential construction estimates come from their Survey of Construction; Private residential improvement expenditures comes from their Consumer Expenditure Survey, based on interviews with 7,500 owner-occupied housing units. In 2013, the C-30 estimates around $332 billion was spent on what they define as "private residential construction including improvements." This number is broken down as follows: This suggests that if you exclude new home construction, the slice that is left is actually closer to $130 billion although there are some notable reasons why this can't be equated with the size of the private remodeling industry: The figure doesn't include "maintenance" expenditures like repairs or replacements. It doesn't include any expenditures made to rental, seasonal or vacant properties. To help address these shortcomings, we can turn to the US Census' American Housing Survey (AHS), most recently conducted in 2011. The American Housing Survey The AHS collects data from a significantly larger sample (around 155,000 housing units) than the C-30, which makes sense because its goal is to create a much more nuanced and detailed view of the housing market as opposed to the C-30, which serves as more of an ongoing index of activity for the construction sector. According to the AHS, the 76 million owner-occupied units accounted...
    Click Here to Read the Full Article

    Source: The Huffington Post
  • 10:50 AM » Markets to Fed: Give us the ‘dot plot' and go home
    Published Thu, Jun 12 2014 10:50 AM by Market Watch
    The primary interest of Fed watchers in next week's policy meeting will be on the 'dot plot' that collects the interest-rate views of all Fed officials.
  • 10:48 AM » Freddie Mac Announces June 21 Effort to Help Active and Retired Service Members Buy Homes in North Carolina
    Published Thu, Jun 12 2014 10:48 AM by
    Freddie Mac Announces June 21 Effort to Help Active and Retired Service Members Buy Homes in North Carolina
    Click Here to Read the Full Article

  • 10:48 AM » Fixed Mortgage Rates Move Higher
    Published Thu, Jun 12 2014 10:48 AM by
    Fixed Mortgage Rates Move Higher
    Click Here to Read the Full Article

  • 9:34 AM » CFPB, Fed to hold webcast on TILA-RESPA
    Published Thu, Jun 12 2014 9:34 AM by NAFCU
    CFPB and the Federal Reserve will host a webcast on the CFPB's integrated mortgage disclosures under the Real Estate Settlement Procedures Act and the Truth in Lending Act on June 17.
  • 9:32 AM » New Assurances From Fannie, Freddie on Stuyvesant Town
    Published Thu, Jun 12 2014 9:32 AM by WSJ
    Fannie Mae and Freddie Mac have agreed to consult with the city and tenant groups before investing in a future deal for the purchase of Stuyvesant Town and Peter Cooper Village, according to officials familiar with the matter.
  • 8:48 AM » U.S. jobless claims rise marginally, jobs market recovery intact
    Published Thu, Jun 12 2014 8:48 AM by Reuters
    WASHINGTON (Reuters) - The number of Americans filing new claims for unemployment benefits unexpectedly rose last week, but not enough to change views the labor market was strengthening.
  • 8:47 AM » US May retail sales up 0.3% vs 0.6% estimate
    Published Thu, Jun 12 2014 8:47 AM by CNBC
    This is a breaking news story. Please check back for updates.. U.S. retail sales had been expected to increase by 0.6 percent in May, following the previous month's nearly flat reading.
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Mortgage Rates:
  • 30 Yr FRM 4.77%
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  • 15 Yr FRM 4.21%
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  • Jumbo 30 Year Fixed 4.80%
MBS Prices:
  • 30YR FNMA 4.5 103-20 (0-00)
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  • 30YR FNMA 5.0 105-17 (-0-00)
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  • 30YR FNMA 5.5 107-10 (0-00)
Recent Housing Data:
  • Mortgage Apps -1.15%
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  • Refinance Index -2.64%
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  • Purchase Index 5.06%