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  • Fri, Feb 14 2020
  • 3:44 PM » Wall Street slips as coronavirus dampens optimism
    Published Fri, Feb 14 2020 3:44 PM by Reuters
    Wall Street edged lower on Friday as uncertainties surrounding the coronavirus epidemic and downbeat economic data put a damper on investor sentiment.
  • 3:44 PM » White House considering tax incentive for more Americans to buy stocks, sources say
    Published Fri, Feb 14 2020 3:44 PM by CNBC
    As part of a forthcoming package of proposed tax cuts, the White House is considering ways to incentivize U.S. households to invest in the stock market.
  • 1:42 PM » Sacramento Housing in January: Sales Up 5.6% YoY, Active Inventory down 32.7% YoY
    Published Fri, Feb 14 2020 1:42 PM by Calculated Risk Blog
    From January 2020 Statistics - Sacramento Housing Market - Single Family Homes January ended with 944 sales, down 24.1% from December. Compared to one year ago (894), the current figure is up 5.6% . ... The Active Listing Inventory increased 7.1% from December to January, from 1,315 units to 1,409 units. Compared with January 2019 (2,095), inventory is down 32.7%. The Months of Inventory increased from 1.1 to 1.5 Months. This figure represents the amount of time (in months) it would take for the current rate of sales to deplete the total active listing inventory. ... The Median DOM (days on market) decreased from 19 to 17 and the Average DOM increased from 32 to 33. "Days on market" represents the days between the initial listing of the home as "active" and the day it goes "pending." emphasis added 1) Overall sales increased to 944 in January, up from 894 in January 2019. Sales were down from December 2019 (previous month), and up 5.6% from January 2019. 2) Active inventory was at 1,409, down from 2,095 in January 2019. That is down 32.7% year-over-year.  This is the ninth consecutive month with a YoY decline in inventory, following 20 months of YoY increases in inventory.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 11:52 AM » Q1 GDP Forecasts: 0.7% to 2.4%
    Published Fri, Feb 14 2020 11:52 AM by Calculated Risk Blog
    From Merrill Lynch: The data cut our 4Q 2019 GDP tracking estimate by 0.1pp to 2.0% and our 1Q 2020 estimate by 0.3pp to 0.7% qoq saar . [Feb 14 estimate] emphasis added From the NY Fed Nowcasting Report The New York Fed Staff Nowcast stands at 1.4% for 2020:Q1 . News from this week's data decreased the nowcast for 2020:Q1 by 0.3 percentage point. [Feb 14 estimate] And from the Altanta Fed: GDPNow The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the first quarter of 2020 is 2.4 percent on February 14 , down from 2.7 percent on February 7. [Feb 14 estimate] CR Note: These early estimates suggest real GDP growth will be between 0.7% and 2.4% annualized in Q1.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 11:31 AM » Sluggish Rebound in Single-Family Permits in December
    Published Fri, Feb 14 2020 11:31 AM by
    Over the year 2019, the total number of single-family permits issued year-to-date (YTD) nationwide reached 854,158. On a year-over-year (YoY) basis, this is a 0.2% increase over the December 2018 level of 852,856.   Year-to-date ending in December, single-family permits reported declines in three regions and an increase in the South. The Northeast reported the steepest decline by 6.8%. The... Read More ›
    Click Here to Read the Full Article

  • 10:52 AM » How much you need to earn to afford to buy a home in 15 major US cities
    Published Fri, Feb 14 2020 10:52 AM by CNBC
    When you're in the market for a home, lenders expect borrowers to have a decent credit score - 90% of home buyers had a score of at least 650 in the first quarter of 2019 - and an income high enough that they are confident you'll be able to make your mortgage payments each month.
  • 10:25 AM » These home renovations provide the biggest returns
    Published Fri, Feb 14 2020 10:25 AM by CNBC
    Americans are moving much less frequently. Mobility is actually at a record low. That is fueling strong growth in the home remodeling market. But not all renovation investments yield equal payback.
  • 9:18 AM » Homebuyers Flock to Four Cities for Affordable Land and Growing Salaries
    Published Fri, Feb 14 2020 9:18 AM by
    Spokane, Las Vegas, Charlotte and Orlando will be the hottest metros among affordability-seeking homebuyers in the coming decade As expensive coastal metros struggle to find solutions to rising housing costs, homebuyers have begun looking to smaller more affordable metros where land is cheap and incomes are growing. Already, Spokane, Las Vegas, Charlotte and Orlando are … Homebuyers Flock to Four Cities for Affordable Land and Growing Salaries Read More » The post Homebuyers Flock to Four Cities for Affordable Land and Growing Salaries appeared first on Redfin Blog .
    Click Here to Read the Full Article

  • 8:49 AM » US consumer spending slowed further in January
    Published Fri, Feb 14 2020 8:49 AM by CNBC
    Sales at clothing stores declined by the most since 2009 in January, which could raise concerns about the economy's ability to continue expanding at a moderate pace.
  • 8:47 AM » Retail Sales increased 0.3% in January
    Published Fri, Feb 14 2020 8:47 AM by Calculated Risk Blog
    On a monthly basis, retail sales increased 0.3 percent from December to January (seasonally adjusted), and sales were up 4.4 percent from January 2019. From the Census Bureau report : Advance estimates of U.S. retail and food services sales for January 2020, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $529.8 billion, an increase of 0.3 percent from the previous month , and 4.4 percent above January 2019. Total sales for the November 2019 through January 2020 period were up 4.4 percent from the same period a year ago. The November 2019 to December 2019 percent change was revised from up 0.3 percent to up 0.2 percent. emphasis added Click on graph for larger image. This graph shows retail sales since 1992. This is monthly retail sales and food service, seasonally adjusted (total and ex-gasoline). Retail sales ex-gasoline were up 0.3% in January. The second graph shows the year-over-year change in retail sales and food service (ex-gasoline) since 1993. Retail and Food service sales, ex-gasoline, increased by 3.9% on a YoY basis. The increase in January was at expectations, however sales in November and December were revised down.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
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