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  • Tue, Feb 23 2021
  • 4:52 PM » Commentary: The Fed has a simple tool it can deploy to curb market speculation
    Published Tue, Feb 23 2021 4:52 PM by CNBC
    The Federal Reserve has the power to regulate brokers' margin rates under Regulation T, but it hasn't used that power since 1974.
  • 4:51 PM » S&P 500, Dow closes higher in late session turnaround
    Published Tue, Feb 23 2021 4:51 PM by Reuters
    Wall Street reversed course late Tuesday, with the S&P 500 and the Dow whipsawing to positive territory by the closing bell in a tug-of-war between stocks that thrived amid lockdowns and those that stand to benefit most from a reopening economy.
  • 4:51 PM » Is Fed Chair Powell 'cool' with more fiscal aid? Suddenly he won't say
    Published Tue, Feb 23 2021 4:51 PM by Reuters
    With a heated political debate underway over the Biden administration's $1.9 trillion proposed pandemic relief package, it was entirely predictable that U.S. lawmakers would jump at the chance to ask Federal Reserve Chair Jerome Powell to weigh in.
  • 1:46 PM » Powell says economy still needs Fed support, markets not driven by loose money
    Published Tue, Feb 23 2021 1:46 PM by Reuters
    Federal Reserve Chair Jerome Powell on Tuesday pushed back on suggestions that U.S. central bank support for the economy risked inflating a dangerous asset bubble, insisting the support was still needed and that investors were responding mostly to expectations for a successful recovery.
  • 11:40 AM » Fed's Powell says support for economy needed for 'some time'
    Published Tue, Feb 23 2021 11:40 AM by Reuters
    The U.S. economic recovery remains "uneven and far from complete" and it will be "some time" before the Federal Reserve considers changing policies it adopted to help the country back to full employment, Fed Chair Jerome Powell said on Tuesday.
  • 9:52 AM » Case-Shiller: National House Price Index increased 10.4% year-over-year in December
    Published Tue, Feb 23 2021 9:52 AM by Calculated Risk Blog
    S&P/Case-Shiller released the monthly Home Price Indices for December ("December" is a 3 month average of October, November and December prices). This release includes prices for 20 individual cities, two composite indices (for 10 cities and 20 cities) and the monthly National index. From S&P: S&P Corelogic Case-Shiller Index Reports 10.4% Annual Home Price Gain to End 2020 The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, covering all nine U.S. census divisions, reported a 10.4% annual gain in December , up from 9.5% in the previous month. The 10-City Composite annual increase came in at 9.8%, up from 8.9% in the previous month. The 20-City Composite posted a 10.1% year-over-year gain, up from 9.2% in the previous month. Phoenix, Seattle, and San Diego continued to report the highest year-over-year gains among the 19 cities (excluding Detroit) in December. Phoenix led the way with a 14.4% year-over-year price increase, followed by Seattle with a 13.6% increase and San Diego with a 13.0% increase. Eighteen of the 19 cities reported higher price increases in the year ending December 2020 versus the year ending November 2020. ... Before seasonal adjustment, the U.S. National Index posted a 0.9% month-over-month increase, while the 10-City and 20-City Composites both posted increases of 0.9% and 0.8% respectively in December. After seasonal adjustment, the U.S. National Index posted a month-over-month increase of 1.3%, while the 10-City and 20-City Composites both posted increases of 1.2% and 1.3% respectively. In December, 18 cities (excluding Detroit) reported increases before seasonal adjustment, while all 19 cities reported increases after seasonal adjustment. "Home prices finished 2020 with double-digit gains, as the National Composite Index rose by 10.4% compared to year-ago levels," says Craig J. Lazzara, Managing Director and Global Head of Index Investment Strategy at S&P DJI. "The...
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 8:05 AM » Treasury yields rise ahead of Fed Chair Powell's testimony on the economy
    Published Tue, Feb 23 2021 8:05 AM by CNBC
    U.S. Treasury yields rose on Tuesday morning, ahead of Federal Reserve Chairman Jerome Powell's first of two speeches in Congress on the economy.
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More From MND

Mortgage Rates:
  • 30 Yr FRM 3.29%
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  • 15 Yr FRM 2.64%
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  • Jumbo 30 Year Fixed 3.40%
MBS Prices:
  • 30YR FNMA 4.5 108-16 (-0-08)
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  • 30YR FNMA 5.0 110-21 (0-01)
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  • 30YR FNMA 5.5 111-10 (-0-02)
Recent Housing Data:
  • Mortgage Apps 0.49%
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  • Refinance Index 0.06%
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  • Purchase Index 1.81%