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  • Thu, Dec 7 2017
  • 4:15 PM » Trump will start infrastructure push in January, White House officials say
    Published Thu, Dec 07 2017 4:15 PM by CNBC
    White House officials say the details of the proposal could be released before Trump's State of the Union address.
  • 4:15 PM » Exclusive: Wells Fargo sanctions are on ice under Trump official - sources
    Published Thu, Dec 07 2017 4:15 PM by Reuters
    WASHINGTON (Reuters) - The new acting head of the U.S. consumer finance watchdog is reviewing whether Wells Fargo & Co should pay tens of millions of dollars over alleged mortgage lending abuse, according to three sources familiar with the dispute.
  • 3:32 PM » Goldman: November Payrolls Preview
    Published Thu, Dec 07 2017 3:32 PM by Calculated Risk Blog
    A few brief excerpts from a note by Goldman Sachs economist Spencer Hill: We estimate that nonfarm payrolls increased 225k in Novembe r, above consensus of +195k. In addition to a firm pace of underlying job growth, our forecast reflects some additional normalization in hurricane-affected regions, as well as above-trend retail job growth associated with the early Thanksgiving. The arrival of over 200k Puerto Ricans in Florida may also boost payroll growth this month . We estimate the unemployment rate remained unchanged at 4.1% , as the brisk downtrend in recent months seems due a pause. For average hourly earnings, we estimate +0.3% month-over-month (+2.7% yoy) with risks skewed to the upside, reflecting a boost from unwinding hurricane distortions and somewhat favorable calendar effects. emphasis added
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 2:24 PM » FHA Loan Limits Released
    Published Thu, Dec 07 2017 2:24 PM by www.hud.gov
    FHA loan limits released
  • 2:00 PM » November Employment Preview
    Published Thu, Dec 07 2017 2:00 PM by Calculated Risk Blog
    On Friday at 8:30 AM ET, the BLS will release the employment report for November. Merrill Lynch economists expect the following: We forecast that nonfarm payrolls increased by an above-trend 210k in November. While nonfarm payrolls rebounded ... in October, it was well short of offsetting the decline seen in September and therefore we expect a further rebound in job growth in November. ... Elsewhere, we expect the unemployment rate to tick up to 4.2% from 4.1%. The unemployment rate declined in October as the labor force participation rate and household employment dropped sharply, potentially due to noise in the household survey. On wages, with labor market conditions continuing to tighten, we look for average hourly earnings growth to rebound to 0.3% mom in November after a flat reading in October. If realized, the yoy rate should jump to 2.7% from 2.4%, previously. The consensus, according to Bloomberg , is for an increase of 190,000 non-farm payroll jobs in November (with a range of estimates between 153,000 to 250,000), and for the unemployment rate to be unchanged at 4.1%. The BLS reported 261,000 jobs added in October. Here is a summary of recent data: • The ADP employment report showed an increase of 190,000 private sector payroll jobs in November. This was above consensus expectations of 186,000 private sector payroll jobs added. The ADP report hasn't been very useful in predicting the BLS report for any one month, but in general, this suggests employment growth close to or above expectations . • The ISM manufacturing employment index decreased in November to 59.7%. A historical correlation between the ISM manufacturing employment index and the BLS employment report for manufacturing, suggests that private sector BLS manufacturing payroll increased about 34,000 in October. The ADP report indicated manufacturing jobs increased 40,000 in November. The ISM non-manufacturing employment index decreased in November to 55.3%. A historical correlation...
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 1:36 PM » Freddie Mac Prices First Offering of Certificates Backed by Single-Family Rentals
    Published Thu, Dec 07 2017 1:36 PM by freddiemac.mwnewsroom.com
    Freddie Mac Prices First Offering of Certificates Backed by Single-Family Rentals
    Click Here to Read the Full Article

    Source: freddiemac.mwnewsroom.com
  • 1:35 PM » English files motion for preliminary injunction, amended complaint in CFPB Acting Director dispute
    Published Thu, Dec 07 2017 1:35 PM by www.consumerfinancemonitor.com
    As required by Judge Kelly’s scheduling order, yesterday afternoon Leandra English filed a motion for a preliminary injunction in her action seeking a declaration that she, rather than Mick Mulvaney, has the legal right to serve as CFPB Acting Director. The motion was accompanied by a supporting memorandum. Ms. English also filed a First Amended... Continue Reading
    Click Here to Read the Full Article

    Source: www.consumerfinancemonitor.com
  • 12:46 PM » The profits made from flipping homes continues to shrink
    Published Thu, Dec 07 2017 12:46 PM by CNBC
    A new study shows that while flipping is still extremely popular and even growing, average returns on flipping are shrinking.
  • 12:18 PM » Freddie Mac Announces Pricing of $292 Million Multifamily Small Balance Loan Securitization
    Published Thu, Dec 07 2017 12:18 PM by freddiemac.mwnewsroom.com
    Freddie Mac Announces Pricing of $292 Million Multifamily Small Balance Loan Securitization
    Click Here to Read the Full Article

    Source: freddiemac.mwnewsroom.com
  • 12:08 PM » Bill Gross: Expect a 'More Cautious and Easier Fed'
    Published Thu, Dec 07 2017 12:08 PM by Bloomberg
    Bloomberg Bill Gross: Expect a 'More Cautious and Easier Fed' Bloomberg Billionaire bond manager Bill Gross, who has long warned that low interest rates punish savers and banks, says the Federal Reserve is likely to be cautious with increases because the current environment leaves little room for error. "Should a crisis ... and more »
  • 12:01 PM » Hutchins Roundup: Middle-class wealth, job separation reasons and earnings, and more
    Published Thu, Dec 07 2017 12:01 PM by webfeeds.brookings.edu
    Studies in this week's Hutchins Roundup find that wealth of typical middle-class household has not returned to pre-recession levels, reasons for leaving a job during mass layoffs affect earnings, and more. Want to receive the Hutchins Roundup as an email? Sign up here to get it in your inbox every Thursday. Wealth of typical middle-class…                
    Click Here to Read the Full Article

    Source: webfeeds.brookings.edu
  • 11:03 AM » The Hutchins Center Explains: The Chained CPI
    Published Thu, Dec 07 2017 11:03 AM by webfeeds.brookings.edu
    A provision in the tax bill pending in Congress is focusing attention on the measure the government uses to adjust tax brackets and other elements of the tax code for inflation. The bill would substitute a measure called "the chained consumer price index" (C-CPI-U) for the one mandated by current law, the consumer price index…                
    Click Here to Read the Full Article

    Source: webfeeds.brookings.edu
  • 10:05 AM » Rates Rise Across the Board
    Published Thu, Dec 07 2017 10:05 AM by freddiemac.mwnewsroom.com
    Rates Rise Across the Board
    Click Here to Read the Full Article

    Source: freddiemac.mwnewsroom.com
  • 9:39 AM » Number of Bathrooms in New Homes
    Published Thu, Dec 07 2017 9:39 AM by eyeonhousing.org
    Every year, the US Census Bureau publishes data on the characteristics of new single-family homes started in its Survey of Construction. In 2016, 3.7 percent of new single-family homes started had 1 bathroom or less, 60.9 percent had 2 bathrooms, 26.7 percent had 3 bathrooms, and 8.7 percent had four bathrooms or more (Figure 1). The term 'bathroom' in this... Read More ›
    Click Here to Read the Full Article

    Source: eyeonhousing.org
  • 9:39 AM » Weekly Initial Unemployment Claims decrease to 236,000
    Published Thu, Dec 07 2017 9:39 AM by Calculated Risk Blog
    The DOL reported : In the week ending December 2, the advance figure for seasonally adjusted initial claims was 236,000, a decrease of 2,000 from the previous week's unrevised level of 238,000. The 4-week moving average was 241,500, a decrease of 750 from the previous week's unrevised average of 242,250. Claims taking procedures continue to be disrupted in the Virgin Islands. Claims taking process in Puerto Rico has still not returned to normal. emphasis added The previous week was unrevised. The following graph shows the 4-week moving average of weekly claims since 1971. Click on graph for larger image. The dashed line on the graph is the current 4-week average. The four-week average of weekly unemployment claims decreased to 241,500. This was lower than the consensus forecast. The low level of claims suggest relatively few layoffs.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 9:21 AM » No, bonds aren't signaling economic trouble ahead. Here's why
    Published Thu, Dec 07 2017 9:21 AM by CNBC
    Despite persistently low 10-year rates and a narrowing of the difference to the 2-year bond, there aren't urgent signs of distress
  • 8:34 AM » Bond Traders Home In on Inflation Mystery as the Key to Winning 2018
    Published Thu, Dec 07 2017 8:34 AM by Bloomberg
    Bloomberg Bond Traders Home In on Inflation Mystery as the Key to Winning 2018 Bloomberg For traders in the world's biggest bond market, getting inflation right is shaping up as the key to winning 2018. By some measures, Treasuries have become more sensitive to consumer-price data than monthly job statistics, traditionally the highest ... and more »
  • 8:21 AM » The Long Game of Republican Economics
    Published Thu, Dec 07 2017 8:21 AM by The Atlantic
    Here is a brief modern history of Republican attitudes toward the deficit. For eight years under an Obama presidency, Republicans foretold of a debt apocalypse and urged lawmakers to slash deficits by trillions of dollars . Under Trump, both GOP-controlled houses passed a corporate tax bill that economists predict will grow deficits by at least $1 trillion in the next decade. Then, within hours after the tax bill passing the Senate, Republicans stepped up efforts to cut welfare spending on low-income Americans because, in the words of Sen. Orrin Hatch, "we don't have any money anymore." This flip-flop-or, more accurately, a flip-flop/flop-flip-might strike some as a trivial double-reversal, or just quotidian hypocrisy. But it's a microcosm of the GOP economic agenda, which has made regressive deficit-busting tax cuts the centerpiece of the party's national agenda while using fears of the deficit as a stalking horse to attack progressive spending. This is the long game of Republican economics, and it is the opposite of a secret. In fact, it is a published document . For years, House Speaker Paul Ryan, with broad party support, has proposed budget blueprints that both cut corporate taxes, thus returning trillions of dollars in post-tax income to business owners and investors, and slashed government spending on health care and anti-poverty programs. Now Republicans seem poised to enact much of that very agenda. With corporate tax cuts nearly out the door-pending some ironing out in conference between the House and Senate-Republicans are turning their attention to the welfare system, arguing that neither the deficit nor the economy can afford current programs that help the sick or poor. In a recent radio interview, Ryan told radio host Ross Kaminsky that Republicans will try to reduce spending on Medicare, Medicaid, and anti-poverty programs in 2018. "We're going to have to get back next year at entitlement reform, which is how you tackle the...
  • 8:21 AM » Trump faces off with Democrats over potential government shutdown
    Published Thu, Dec 07 2017 8:21 AM by Reuters
    WASHINGTON (Reuters) - President Donald Trump will face off with Democratic leaders of Congress on Thursday in a high-stakes White House meeting intended to bridge differences over a spending bill and prevent a government shutdown.
  • 8:10 AM » Trulia: 2018 May See Cooling Of Pricey Coastal Markets And Continued Rise In Homeownership Rate Despite For-Sale Inventory Shortage
    Published Thu, Dec 07 2017 8:10 AM by info.trulia.com
    Trulia Identifies 10 Housing Markets to Watch: Grand Rapids, Mich., Nashville, Tenn., Raleigh, N.C., El Paso, Texas, San Antonio, Texas, Fort Worth, Texas, Austin, Texas, Columbus, Ohio, Madison, Wis. and Cincinnati, Ohio
    Click Here to Read the Full Article

    Source: info.trulia.com
  • 8:09 AM » Home Flippers Net Less in Q3
    Published Thu, Dec 07 2017 8:09 AM by www.builderonline.com
    Home Flippers Net Less in Q3
    Click Here to Read the Full Article

    Source: www.builderonline.com
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