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  • Mon, Oct 23 2017
  • 4:35 PM » President says he's ‘very, very close' to naming pick for Fed chief
    Published Mon, Oct 23 2017 4:35 PM by Market Watch
    President Donald Trump promised Monday that 401(k) accounts won't see a change under a tax-reform plan, said he was "very, very close" to picking a new leader for the Federal Reserve and met with the prime minister of Singapore.
  • 3:23 PM » Treasury Department Report Eviscerates CFPB Arbitration Rule
    Published Mon, Oct 23 2017 3:23 PM by www.consumerfinancemonitor.com
    In a scathing report released today, the U.S. Department of the Treasury concludes that the CFPB's final arbitration rule "failed to meaningfully evaluate whether prohibiting mandatory arbitration clauses in consumer financial contracts would serve either consumer protection or the public interest — its two statutory mandates." Moreover, according to the report, the arbitration rule will... Continue Reading
    Click Here to Read the Full Article

    Source: www.consumerfinancemonitor.com
  • 3:23 PM » Apartment Market Tightness Index remained negative for Eighth Consecutive Quarter
    Published Mon, Oct 23 2017 3:23 PM by Calculated Risk Blog
    From the National Multifamily Housing Council (NMHC): Apartment Markets Decline Slightly in the October NMHC Quarterly Survey Market conditions for the apartment industry remained soft in the National Multifamily Housing Council's (NMHC) October Quarterly Survey of Apartment Market Conditions. While the Market Tightness (37), Sales Volume (45) and Equity Finance (46) Indexes remained below the breakeven level of 50 - with the Debt Financing Index (51) edging just above 50 - there was little change compared with three months earlier. "The apartment market is headed into a seasonally slow leasing period with new deliveries easing upward pressure on rents and occupancy rates in many markets around the country," said NMHC Chief Economist Mark Obrinsky. " The big increase in multifamily starts in 2015 and 2016 is finally filtering through to the marketplace on a broad basis ." "Leasing activity appears to have picked up in Texas and Florida in the aftermath of Hurricanes Harvey and Irma. Some respondents also noted that fires on the West Coast may be pushing occupancy rates up," said Obrinsky. "Elsewhere, new deliveries are leading to concessions becoming more commonplace." The Market Tightness Index decreased from 42 to 37, marking the eighth consecutive quarter of overall declining conditions . Forty percent of respondents reported looser conditions than three months prior, compared to just 14 percent who reported tighter conditions. emphasis added Click on graph for larger image. This graph shows the quarterly Apartment Tightness Index. Any reading below 50 indicates looser conditions from the previous quarter. This indicates market conditions were looser over the last quarter. As I've mentioned before, this index helped me call the bottom for effective rents (and the top for the vacancy rate) early in 2010. This is the eighth consecutive quarterly survey indicating looser conditions - it appears supply has caught up with...
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 3:22 PM » FedWatch: In Defense of the conventional Wisdom
    Published Mon, Oct 23 2017 3:22 PM by Calculated Risk Blog
    From Tim Duy at FedWatch: In Defense of the conventional Wisdom . Excerpt: Altogether, looking at the history of the past sixty years or so, I think it is reasonable for a policymaker to conclude that while they may not yet have a perfect model to guide policy, they have a reasonable approximation to a perfect model that delivers outcomes that are generally consistent with their mandates. Moreover, are the potential gains of adopting a new framework such as, for example a nominal GDP target, worth the potential costs of abandoning the conventional wisdom? I think that is a reasonable question. In short, while many, including myself, have criticized the Fed for living in the past and continuously re-fighting the inflation wars of the 1970s, I can argue that those criticisms fail to acknowledge the improvement of outcomes since the 1970s. We argue about 50bp of inflation, for example, when the real gains were made in the first 500bp. This issue is worth considering before dismissing the validity of the conventional wisdom among monetary policymakers. They have good reasons for maintaining that wisdom .
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 3:22 PM » The Fed: Can a Powell-Taylor ticket at top of the Fed really work?
    Published Mon, Oct 23 2017 3:22 PM by Market Watch
    The idea of nominating Federal Reserve Governor Jerome Powell and Stanford University's John Taylor to the two top jobs at the central bank could only work if they can operate in harmony, experts say.
  • 2:04 PM » Fannie Mae Introduces Single Source Validation
    Published Mon, Oct 23 2017 2:04 PM by Fannie Mae
    News Release. Share This: October 23, 2017. Fannie Mae Unveils More Innovative Solutions to Lower Costs, Shorten the Mortgage Process ...
  • 12:52 PM » New Freddie Mac Analysis Finds Widening Shortfall of Affordable Rental Units
    Published Mon, Oct 23 2017 12:52 PM by freddiemac.mwnewsroom.com
    New Freddie Mac Analysis Finds Widening Shortfall of Affordable Rental Units
    Click Here to Read the Full Article

    Source: freddiemac.mwnewsroom.com
  • 12:25 PM » September National Showing Index Shows 7.3% Year-Over-Year Increase
    Published Mon, Oct 23 2017 12:25 PM by PR Newswire
    CHICAGO, Oct. 23, 2017 /PRNewswire/ -- Home showings on the national level increased 7.3 percent year over year in September, according to the September 2017 ShowingTime Showing IndexTM. The Northeast Region had the highest year-over-year increase in showings at 11.5 percent, while...
  • 11:41 AM » America's affordable housing stock dropped by 60 percent from 2010 to 2016
    Published Mon, Oct 23 2017 11:41 AM by Washington Post
    America's affordable housing stock dropped by 60 percent from 2010 to 2016<br/>https://www.washingtonpost.com/news/wonk/wp/2017/10/23/americas-affordable-housing-stock-dropped-by-60-percent-from-2010-to-2016/
    Click Here to Read the Full Article

    Source: Washington Post
  • 11:16 AM » Freddie Mac October 2017 Outlook
    Published Mon, Oct 23 2017 11:16 AM by freddiemac.mwnewsroom.com
    Freddie Mac October 2017 Outlook
    Click Here to Read the Full Article

    Source: freddiemac.mwnewsroom.com
  • 9:56 AM » Bond Report: Short-end Treasury yields lower as investors weigh Spanish tensions, Japan election
    Published Mon, Oct 23 2017 9:56 AM by Market Watch
    Trading in Treasurys was subdued on Monday after Japanese Prime Minister Shinzo Abe's re-election and geopolitical tensions in Spain.
  • 9:35 AM » A 15-year or 30-year mortgage: What's the better loan term as you round into your retirement years?
    Published Mon, Oct 23 2017 9:35 AM by Washington Post
    A 15-year or 30-year mortgage: What's the better loan term as you round into your retirement years?<br/>https://www.washingtonpost.com/news/get-there/wp/2017/10/23/a-15-year-or-30-year-mortgage-whats-the-better-loan-term-as-you-round-into-your-retirement-years/
    Click Here to Read the Full Article

    Source: Washington Post
  • 9:11 AM » Chicago Fed "Index Points to a Pickup in Economic Growth in September"
    Published Mon, Oct 23 2017 9:11 AM by Calculated Risk Blog
    From the Chicago Fed: Index Points to a Pickup in Economic Growth in September Led by improvements in production-related indicators, the Chicago Fed National Activity Index (CFNAI) moved up to +0.17 in September from -0.37 in August. All four broad categories of indicators that make up the index increased from August, and three of the four categories made positive contributions to the index in September. The index's three-month moving average, CFNAI-MA3, was unchanged at -0.16 in September. emphasis added This graph shows the Chicago Fed National Activity Index (three month moving average) since 1967. Click on graph for larger image. This suggests economic activity was close to the historical trend in September (using the three-month average). According to the Chicago Fed: The index is a weighted average of 85 indicators of growth in national economic activity drawn from four broad categories of data: 1) production and income; 2) employment, unemployment, and hours; 3) personal consumption and housing; and 4) sales, orders, and inventories. ... A zero value for the monthly index has been associated with the national economy expanding at its historical trend (average) rate of growth; negative values with below-average growth (in standard deviation units); and positive values with above-average growth.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 8:23 AM » Watch out where you get help with buying a house
    Published Mon, Oct 23 2017 8:23 AM by CNBC
    As home prices soar, people may turn to nontraditional sources as co-borrowers. Here's what you need to know to manage that successfully.
  • 8:22 AM » Trump says will decide on Federal Reserve chair 'very shortly'
    Published Mon, Oct 23 2017 8:22 AM by Reuters
    WASHINGTON (Reuters) - U.S. President Donald Trump said he would make his choice to lead the Federal Reserve soon and was still weighing at least three people: Federal Reserve Governor Jerome Powell, Stanford University economist John Taylor and current Federal Reserve Chair Janet Yellen.
  • 8:22 AM » What Lies Beneath: Cities With the Best—and Worst—Infrastructure
    Published Mon, Oct 23 2017 8:22 AM by www.realtor.com
    Highways, electrical grids, and sewers aren't exactly fascinating topics for dinner party conversation. But they should matter to home buyers-a lot. The post What Lies Beneath: Cities With the Best-and Worst-Infrastructure appeared first on Real Estate News & Insights | realtor.com® .
    Click Here to Read the Full Article

    Source: www.realtor.com
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  • 15 Yr FRM 3.30%
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  • Jumbo 30 Year Fixed 4.16%
MBS Prices:
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  • 30YR FNMA 5.0 108-12 (0-03)
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  • 30YR FNMA 5.5 110-08 (0-01)
Recent Housing Data:
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  • Refinance Index 5.05%
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  • Purchase Index 1.43%