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  • Wed, Dec 9 2015
  • 3:57 PM » The next question facing the Fed is whether there will be a rate hike in March
    Published Wed, Dec 09 2015 3:57 PM by Market Watch
    Fed Chairwoman Janet Yellen's playbook is to hike rates in December, hit pause in January and then see what is developing and react.
  • 2:09 PM » Hilsenrath: "Fed Plans to Signal Gradual, Cautious Path on Rate Hikes"
    Published Wed, Dec 09 2015 2:09 PM by Calculated Risk Blog
    The Fed will raise rates next week, and now the attention will shift to the path of future rate hikes. From Jon Hilsenrath at the WSJ: Fed Plans to Signal Gradual, Cautious Path on Rate Hikes . A few excerpts: Fed officials want to signal they expect to proceed slowly and cautiously before raising rates again. Ms. Yellen has emphasized in recent speeches that the economy won't be able to bear very high interest rates in the years ahead. ... The median forecast among 17 officials in September showed they expected the rate to reach 1.375% in December 2016 and 2.625% in late 2017. That would put them on track to raise rates four times next year and five times in 2017. Futures markets point to a shallower trajectory. For instance, futures contracts indicate traders expect a 0.85% rate by December 2016.  Right now I expect 3 or 4 rate increases next year, but it could be less.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 1:06 PM » Ballard Spahr attorneys to conduct webinar sponsored by the American Banker and National Mortgage News on redlining fair lending claims
    Published Wed, Dec 09 2015 1:06 PM by www.cfpbmonitor.com
    Barbara S. Mishkin In late September, the CFPB and DOJ announced a proposed consent order with Hudson City Savings Bank to settle allegations that the bank had engaged in a pattern or practice of redlining in its residential mortgage lending. The settlement represents the largest federal court settlement for redlining in history as measured by loan subsidies provided... More >
    Click Here to Read the Full Article

    Source: www.cfpbmonitor.com
  • 10:53 AM » Why it's so hard to afford a rental even if you make a decent salary
    Published Wed, Dec 09 2015 10:53 AM by Washington Post
    The number of renter households in the top 10th of the income spectrum rose 61 percent over that time, more than for any other group. So developers are not simply building luxe apartments no one wants to rent.Read full article >>
    Click Here to Read the Full Article

    Source: Washington Post
  • 10:53 AM » U.S. wholesale inventories weak, may hit fourth quarter GDP
    Published Wed, Dec 09 2015 10:53 AM by Reuters
    WASHINGTON, Dec 9 (Reuters) - - U.S. wholesale inventories fell in October as businesses stepped up efforts to reduce the stockpile of unsold merchandise, suggesting inventories would again be a drag on growth in the fourth quarter.
  • 8:14 AM » Larry Summers and two groups unite against the Fed's Yellen
    Published Wed, Dec 09 2015 8:14 AM by Market Watch
    The arguments against an interest-rate increase are piling up, says Caroline Baum.
  • 8:14 AM » Rental Prices Are Less Affordable Than Ever
    Published Wed, Dec 09 2015 8:14 AM by Bloomberg
    Bloomberg Rental Prices Are Less Affordable Than Ever Bloomberg Almost half of U.S. renters are spending 30 percent of their income on rent, according to a new report from Harvard's Joint Center for Housing Studies. Patrick Clark pat_clark. December 8, 2015 - 9:01 PM PST. Share on FacebookShare on TwitterShare on ... and more »
  • 8:11 AM » EIA: Gasoline Prices expected to average $2.36/gal in 2016
    Published Wed, Dec 09 2015 8:11 AM by Calculated Risk Blog
    Wednesday: • At 7:00 AM ET, the Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index . • At 10:00 AM, the Monthly Wholesale Trade: Sales and Inventories for October . The consensus is for a 0.2% increase in inventories. Oil prices have fallen sharply, with Brent at $40.83 per barrel, and WTI at $38.17. Currently the EIA expects gasoline prices to average $2.36/gal in 2016 according to the Short Term Energy Outlook released today: • EIA forecasts that Brent crude oil prices will average $53/b in 2015 and $56/b in 2016. Forecast West Texas Intermediate (WTI) crude oil prices average $4/b lower than the Brent price in 2015 and $5/b lower in 2016. The current values of futures and options contracts for March 2016 delivery ( Market Prices and Uncertainty Report ) suggest the market expects WTI prices to range from $30/b to $63/b (at the 95% confidence interval). ... • The monthly average price of U.S. regular retail gasoline was $2.16/gallon (gal) in November, a decrease of 13 cents/gal from October and 75 cents/gal lower than in November 2014. EIA forecasts U.S. regular gasoline retail prices to average $2.04/gal in December 2015 and $2.36/gal for 2016. emphasis added Right now gasoline prices are down to around $2.02 per gallon nationally according to the Gasbuddy.com.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
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Mortgage Rates:
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  • 30YR FNMA 5.0 110-16 (0-00)
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Recent Housing Data:
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  • Purchase Index 1.81%