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  • Wed, May 17 2017
  • 3:04 PM » Real estate CEO: Record low housing inventory is 'freaking us out'
    Published Wed, May 17 2017 3:04 PM by CNBC
    As inventory drops to the lowest levels in years, Redfin's CEO says the market is getting rocked.
  • 3:04 PM » Lawler: Early Read on Existing Home Sales in April
    Published Wed, May 17 2017 3:04 PM by Calculated Risk Blog
    From housing economist Tom Lawler: Based on publicly available state and local realtor/MLS reports released through today, I project that US existing home sales as estimated by the National Association of Realtors ran at a seasonally adjusted annual rate of 5.56 million in April , down 2.6% from March's preliminary pace and up 1.5% from last April's seasonally adjusted pace. Unadjusted sales as estimated by the NAR last month should be about 2.8% LOWER than last April's pace, with the "adjusted/unadjusted" YOY growth difference reflecting this April's lower business day count, as well as the different timing of Easter (April 16 this year vs. March 27 last year.) On the inventory front, local realtor/MLS data suggest that the monthly increase in the number of homes for sale last month was slightly higher than last April's increase, and I project that the NAR's estimate of the existing home inventory for April will be 2.00 million, up 9.3% from March and down 5.7% from last April. Finally, realtor/MLS suggest that the NAR's estimate of the median existing single-family home sales price for April will be up about 7.0% from last April. Areas that experienced a double-digit decline in YOY home sales included, but were not limited to, Portland (Oregon), Minneapolis, DC (city), San Francisco Bay Area, Boston, New Hampshire, South Central Wisconsin (includes Dane County), Spokane, Peoria, Springfield (Illinois), Louisville, and Grand Rapids. emphasis added CR Note: The NAR is scheduled to release existing home sales for April next Wednesday, May 24th. The early consensus is for sales of 5.71 million SAAR (take the under).
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 3:04 PM » Bernanke: Always ‘puzzled' by way markets ignore political risk until ‘last moment'
    Published Wed, May 17 2017 3:04 PM by Market Watch
    Former Federal Reserve Chairman Ben Bernanks says there is nothing new about markets ignoring political turmoil until the last moment. He's also confident the Fed can move to shrink its balance sheet without sparking another "taper tantrum."
  • 3:03 PM » Bernanke on stability of White House: 'A reasonable concern'
    Published Wed, May 17 2017 3:03 PM by CNN
    All the drama in Washington is even rattling Ben Bernanke.
  • 2:58 PM » Bond Pricing Chats Are at Heart of U.S. Case Against Traders
    Published Wed, May 17 2017 2:58 PM by Bloomberg
    Bloomberg Bond Pricing Chats Are at Heart of U.S. Case Against Traders Bloomberg U.S. prosecutors working to convict three former Nomura Holdings Inc. mortgage-bond traders are trying to convince jurors that lying about prices amounts to fraud. For a second day Tuesday, attorneys quizzed Zachary Harrison, a former Putnam ... and more »
  • 1:08 PM » Senate Intelligence Committee asks Comey to appear before the panel in public and closed sessions
    Published Wed, May 17 2017 1:08 PM by CNBC
    The U.S. Senate Intelligence Committee has asked James Comey to appear before the panel in both public and closed sessions.
  • 1:07 PM » Fed's Rate-Hike Odds Tumble After Washington Chaos Hits Bond Market
    Published Wed, May 17 2017 1:07 PM by Bloomberg
    Bloomberg Fed's Rate-Hike Odds Tumble After Washington Chaos Hits Bond Market Bloomberg The bond market is interpreting what could be the deepest crisis of Donald Trump's presidency as throwing the Federal Reserve off its path for interest-rate increases this year. The odds that the central bank raises its benchmark rate next month are ... and more »
  • 10:47 AM » Financials tumble in biggest one-day drop in April as political uncertainty weighs
    Published Wed, May 17 2017 10:47 AM by Market Watch
    Shares of financial companies dropped on Wednesday, leading the overall market's decline as political turmoil intensified, weighing on investor sentiment. The Financial Select Sector SPDR ETF fell 1.8% in its biggest one-day drop since late March. It was by far the biggest decliner among the largest sector-tracking exchange-traded funds. Among the most actively traded stocks in the sector, Goldman Sachs Group Inc. sank 2.1% while Bank of America Corp. lost 3.3%. Citigroup Inc. fell 1.8% while J.P. Morgan Chase & Co. shed 2.1%. Among other financial ETFs, the SPDR S&P Bank ETF lost 2.3% while the regional equivalent fell 2.5%. The sector has been one of the biggest beneficiaries to the so-called "Trump rally," climbing on hopes that President Donald Trump would deregulate the industry and push through other initiatives that were seen as supportive to the sector's profits. Getting such legislation may be less likely in the current environment, as Trump faces controversy for his recent firing of the then-director of the Federal Bureau of Investigation, who had been investigating Trump's former-national security adviser.
  • 10:45 AM » Judge says he may reject parts of Wells Fargo accounts settlement
    Published Wed, May 17 2017 10:45 AM by Reuters
    (Reuters) - A federal judge signaled that he may reject parts of Wells Fargo & Co's proposed $142 million settlement with customers for whom it opened millions of unauthorized accounts.
  • 10:00 AM » Bond Report: Treasury yields sink as Trump FBI controversy intensifies
    Published Wed, May 17 2017 10:00 AM by Market Watch
    Treasury yields slip Wednesday as geopolitical jitters linger from President Donald Trump's dismissal of the former Federal Bureau of Investigation director James Comey, drawing a flight-to-quality from overseas investors.
  • 8:57 AM » New Single-Family Home Size Continues to Trend Down
    Published Wed, May 17 2017 8:57 AM by eyeonhousing.org
    After increasing and leveling off in recent years, new single-family home size continued along a general trend of decreasing size during the start of 2017. This change marks a reversal of the trend that had been in place as builders focused on the higher end of the market during the recovery. As the entry-level market expands, including growth for townhouses, typical... Read More ›
    Click Here to Read the Full Article

    Source: eyeonhousing.org
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