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  • Thu, Jun 5 2014
  • 10:20 PM » April Portland Region Home Sale Press Release
    Published Thu, Jun 05 2014 10:20 PM by DataQuick
    Portland Region April Home Sales Portland-area April home sales rose more than usual from March and sold at the fastest pace for an April in seven years amid strong condo resales and a signficant overall increase for mid- to high-end homes. The median sale price rose to a five-and-half-year high, although the gain from a year earlier was single-digit for the second consecutive month, a real estate information service reported. A total of 3,168 new and resale houses and condos closed escrow during April in the five-county Portland-Vancouver-Beaverton metro area. Sales rose 18.8 percent from the prior month and rose 2.2 percent from a year earlier, according to San Diego-based DataQuick. The firm, which is now owned by Irvine-based property information company CoreLogic, tracks real estate trends nationally via public property records. April's increase from March was larger than normal. On average, sales between those two months have increased 3.7 percent since 1994, when DataQuick's complete Portland-area statistics begin. Although April's sales tally was the highest for that month since 2007, it was 10.6 percent short of the average sales total for all months of April since 1994. Sales of existing (not new) single-family detached houses were 12.0 percent below the historical April average, while new-home sales were 32.0 percent below average. April's condo resales, which rose 26.6 percent from a year earlier, were 71.0 percent above the April average. Investors aren't as active as they were a year ago but their market impact remains significant. Absentee buyers - mostly investors and some second-home buyers - purchased 27.9 percent of all homes sold in April, down from 28.3 percent the prior month and down from 28.2 percent a year earlier. The absentee buyer rate peaked at 31.7 percent in April 2012, and the monthly average for absentee purchases since January 2000 is 19.9 percent. Sales of mid- to high-end homes continued to rise year-over-year,...
  • 10:19 PM » Bank of America could pay at least $12 billion to settle probes: report
    Published Thu, Jun 05 2014 10:19 PM by Reuters
    (Reuters) - Bank of America Corp could pay more than $12 billion to settle probes by the Justice Department and a number of states into the bank's alleged handling of shoddy mortgages, the Wall Street Journal said on Thursday, citing people familiar with the negotiations.
  • 10:19 PM » Mortgage Equity Withdrawal Still Negative in Q1 2014
    Published Thu, Jun 05 2014 10:19 PM by Calculated Risk Blog
    The following data is calculated from the Fed's Flow of Funds data (released this morning) and the BEA supplement data on single family structure investment. This is an aggregate number, and is a combination of homeowners extracting equity - hence the name "MEW", but there is little MEW right now - and normal principal payments and debt cancellation.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 3:59 PM » Green Homes Show Growth in a Recovering Market According to New Report from McGraw Hill Construction
    Published Thu, Jun 05 2014 3:59 PM by NAHB
    Press Release
  • 3:58 PM » Wonkblog: What our reasons for moving say about the state of the economy
    Published Thu, Jun 05 2014 3:58 PM by Washington Post
    The decision to move is an intensely personal and revealing one. We move homes because we lost a job or found a new one, because a new child was born or an older one finally left for college. We move because we have to, following a foreclosure, or because we can afford to, in search of a nicer place. Read full article >>
    Click Here to Read the Full Article

    Source: Washington Post
  • 3:00 PM » Fed's Williams Says Central Bank Needs to Realize Investors Aren't Always Rational
    Published Thu, Jun 05 2014 3:00 PM by WSJ
    Federal Reserve Bank of San Francisco President John Williams said Thursday the importance central bankers now place on financial stability may mean officials need to abandon the long-held view investors act rationally.
  • 3:00 PM » Fed's Kocherlakota: U.S. Economy Needs Low Rates For Years To Come
    Published Thu, Jun 05 2014 3:00 PM by WSJ
    Minneapolis Fed President Narayana Kocherlakota says the central bank must keep interest rates very low for a long time to come, even though the financial system will be haunted by an ever present risk of instability.
  • 2:03 PM » Asking House Prices up 8.0% year-over-year in May, "slowest rate in 13 months"
    Published Thu, Jun 05 2014 2:03 PM by Calculated Risk Blog
    Asking home prices rose at their slowest rate in 13 months, rising just 8.0% year-over-year (7.2% excluding foreclosures). Although this year-over-year increase is slower than in previous months, an 8.0% increase is still far above the long-term historical norm for home-price appreciation. Furthermore, prices continue to climb in the most recent quarter: the 2.4% quarter-over-quarter increase in May 2014 is equivalent to 9.9% on an annualized basis. Finally, price gains continue to be widespread, with 93 of the 100 largest metros clocking quarter-over-quarter price increases, seasonally adjusted.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 2:03 PM » Household Wealth in U.S. Increases as Home Values Appreciate - Bloomberg
    Published Thu, Jun 05 2014 2:03 PM by Bloomberg
    Household Wealth in U.S. Increases as Home Values Appreciate Bloomberg Household wealth in the U.S. climbed in the first quarter, helped by labor market improvement and gains in the stock and residential real estate markets that are giving balance sheets a lift. Net worth for households and non-profit groups increased by $1.49 ...
  • 1:28 PM » Why Americans Moved Last Year: Cheaper Housing, Shorter Commutes
    Published Thu, Jun 05 2014 1:28 PM by WSJ
    More Americans who moved between 2012 and 2013 did so to secure cheaper housing or a shorter commute, compared to 1999, when more movers sought to upgrade their home or apartment, according to a Census report released Thursday.
  • 1:08 PM » ECB firing 'lots of small bullets': El-Erian
    Published Thu, Jun 05 2014 1:08 PM by CNBC
    The ECB's array of measures are more like "lots of small bullets" than a bazooka shot, former Pimco co-CEO Mohamed El-Erian said.
  • 1:06 PM » Mortgage Rates Are Falling, So Where Are the Home Buyers?
    Published Thu, Jun 05 2014 1:06 PM by WSJ
    Mortgage rates have fallen close to their lowest levels in nearly a year, but housing demand hasn't much budged yet.
  • 12:10 PM » ECB proves the war on deflation is raging
    Published Thu, Jun 05 2014 12:10 PM by CNBC
    Here's what investors should remember: Deflation has yet to hold up the white flag and the Fed won't rest until the enemy surrenders, says Ron Insana.
  • 10:56 AM » Indicator points to falling home prices
    Published Thu, Jun 05 2014 10:56 AM by CNBC
    While the headlines suggest that home prices continue to rise but at a slower rate, the reality may be different.
  • 10:55 AM » Fixed Mortgage Rates Largely Flat
    Published Thu, Jun 05 2014 10:55 AM by freddiemac.mwnewsroom.com
    Fixed Mortgage Rates Largely Flat
    Click Here to Read the Full Article

    Source: freddiemac.mwnewsroom.com
  • 10:06 AM » U.S. jobless claims up, but jobs market still strengthening
    Published Thu, Jun 05 2014 10:06 AM by Reuters
    WASHINGTON (Reuters) - The number of Americans filing new claims for unemployment benefits rose last week, but the underlying trend continued to point to a firming labor market.
  • 10:03 AM » How well do the GSEs serve minority borrowers?
    Published Thu, Jun 05 2014 10:03 AM by Google News
    When Dave Stevens, head of the Mortgage Bankers Association (MBA), claimed that the GSEs denied 56 percent of black mortgage applicants, many, including Fannie Mae, responded that MBA's numbers overestimated the denial rate for minorities. But our numbers show that even the MBA's denial rate underestimated the tightness of the GSE market. Preserving the status [...]
  • 10:03 AM » Irish 10-year yield below U.S. for first time since 2007
    Published Thu, Jun 05 2014 10:03 AM by Market Watch
    NEW YORK (MarketWatch) -- The yield on the Irish 10-year government bond fell below that for the comparable U.S. Treasury notes on Thursday for the first time since November 2007. The move comes amid measures announced by the European Central Bank Thursday to stimulate the euro zone economy, which sent European bond yields down. Struggling European countries have also seen bond yields fall sharply over the past few years amid investor hunger for riskier debt. The Irish 10-year government bond yield dropped 7 basis points on Thursday to 2.573%, while the 10-year U.S. Treasury yield yield rose 1.5 basis point to 2.624%, according to Tradeweb. Yields fall as bond prices rise.
  • 8:14 AM » More Americans are rejoining workforce
    Published Thu, Jun 05 2014 8:14 AM by CNBC
    For the first time in six years, the share of people who either have a job or are looking for one is on the rise in a majority of U.S. states.
  • 8:13 AM » Treasurys, bunds rise after ECB cuts interest rates
    Published Thu, Jun 05 2014 8:13 AM by Market Watch
    NEW YORK (MarketWatch) -- U.S. Treasurys and German government prices rose Thursday after the European Central Bank announced a series of easing measures. Among them, the ECB said it would cut its deposit rate to negative 0.10%, in effect charging banks to hold money at the Fed. After the news, the 10-year German bund yield, which falls as prices rise, was down 1 basis point at 1.378%, according to Tradeweb. The 10-year Treasury note yield was down 1.5 basis points at 2.591%, snapping a 5-day streak of yields rising. The 30-year bond yield was down half a basis point at 3.437%, and the 5-year note yield was down 2 basis points at 1.624%.
  • 8:13 AM » Planned US layoffs jump
    Published Thu, Jun 05 2014 8:13 AM by CNBC
    U.S.-based employers announced plans to reduce payrolls by 52,961 in May, according to a report from Challenger, Gray & Christmas.
  • 8:11 AM » Stocks at a record, but bonds look to break bad first
    Published Thu, Jun 05 2014 8:11 AM by Reuters
    NEW YORK (Reuters) - U.S. stock and bond markets have risen in tandem all year as investors in each found reasons to support their views: stocks are up on signs the economy is improving, and bonds have gained on expectations for low inflation and relatively slow growth.
  • 8:01 AM » Draghi Takes ECB Deposit Rate Negative in Historic Move - Bloomberg
    Published Thu, Jun 05 2014 8:01 AM by Bloomberg
    Draghi Takes ECB Deposit Rate Negative in Historic Move Bloomberg The European Central Bank cut its deposit rate below zero in an unprecedented move to counter the prospect of deflation in the world's second-largest economy. ECB President Mario Draghi reduced the deposit rate to minus 0.10 percent from zero, making ... and more »
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Mortgage Rates:
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  • 15 Yr FRM 3.26%
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  • Jumbo 30 Year Fixed 3.98%
MBS Prices:
  • 30YR FNMA 4.5 107-31 (0-01)
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  • 30YR FNMA 5.0 110-02 (-0-05)
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  • 30YR FNMA 5.5 111-06 (0-00)
Recent Housing Data:
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  • Refinance Index -3.98%
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  • Purchase Index -1.02%