Register or Sign in        Email This Page     Link To This Page    
Visit MND at MBA in NYC!
2,000,000
# of Visitors Per Month
Select a Date
Use the calendar to view news headlines from a specific date.
Today  |  Yesterday  |  Random
Bottom Right Default
State Name: New Jersey
State Name underscore: New_Jersey
State Name dash: New-Jersey
State Name lower underscore: new_jersey
State Name lower dash: new-jersey
State Name lower: new jersey
State Abbreviation: NJ
State Abbreviation Lower: nj
Suggest a Story
Paste the URL of the story below to submit for editorial review and possible inclusion in ATW.
Please add 5 and 7 and type the answer here:
Leave this field blank.
What is Around the Web?
It is a continuously updated stream of news from around the web
Visit throughout the day for the latest breaking news.
» Click any link below to read more.
  • Fri, Sep 21 2018
  • 3:50 PM » The housing bubble, the credit crunch, and the Great Recession: A reply to Paul Krugman
    Published Fri, Sep 21 2018 3:50 PM by webfeeds.brookings.edu
    Why was the Great Recession so deep? Certainly, the collapse of the housing bubble was the key precipitating event; falling house prices depressed consumer wealth and spending while leading to sharp reductions in residential construction. However, as I argue in a new paper and blog post, the most damaging aspect of the unwinding bubble was…                
    Click Here to Read the Full Article

    Source: webfeeds.brookings.edu
  • 3:50 PM » Here's how much time homeowners spend on housework compared to renters
    Published Fri, Sep 21 2018 3:50 PM by CNBC
    Apartment List found that homeowners spend, on average, 141 more hours a year doing housework than renters - that's the equivalent of 3.5 full work weeks.
  • 3:29 PM » California Amends Student Loan Servicing Act
    Published Fri, Sep 21 2018 3:29 PM by www.consumerfinancemonitor.com
    California Governor Jerry Brown has signed into law Assembly Bill 38, which significantly modifies the scope, administration, and servicing requirements of the state's Student Loan Servicing Act. The bill was approved by the California Assembly 55-23-2 and the California Senate 28-11-1 with the intent to "build upon existing law to ensure that the Student Loan... Continue Reading
    Click Here to Read the Full Article

    Source: www.consumerfinancemonitor.com
  • 3:13 PM » Merrill: "Existing Home Sales have Peaked"
    Published Fri, Sep 21 2018 3:13 PM by Calculated Risk Blog
    A few excerpts from a Merrill Lynch research note: We are calling it: existing home sales have peaked. We believe that the peak was at 5.72 million, reached in November last year. From here on, sales should trend sideways . If this is indeed the peak, it would be comparable to the rate we last saw in the early 2000s before the bubble set in. Here is the catch - while existing home sales have likely peaked, we do not think we have seen the same for new home sales . New home sales have lagged existing in this recovery and we believe there is room to run for new home sales, leaving builders to add more single family homes to the market. The peak in existing home sales can largely be explained by the decline in affordability. With housing prices hovering close to bubble highs and mortgage rates on the rise, affordability has been declining. emphasis added CR Note: As I noted in July (see: Has Housing Market Activity Peaked? and Has the Housing Market Peaked? (Part 2) First, I think it is likely that existing home sales will move more sideways going forward. However it is important to remember that new home sales are more important for jobs and the economy than existing home sales. Since existing sales are existing stock, the only direct contribution to GDP is the broker's commission. There is usually some additional spending with an existing home purchase - new furniture, etc. - but overall the economic impact is small compared to a new home sale. Also I think the growth in multi-family starts is behind us, and that multi-family starts peaked in June 2015. See: Comments on June Housing Starts For the economy, what we should be focused on are single family starts and new home sales . As I noted in Investment and Recessions "New Home Sales appears to be an excellent leading indicator, and currently new home sales (and housing starts) are up solidly year-over-year, and this suggests there is no recession in sight." If new home sales and single family starts have...
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 2:22 PM » The Decade-Long Growth in Rentership is Slowly Reversing
    Published Fri, Sep 21 2018 2:22 PM by www.builderonline.com
    The Decade-Long Growth in Rentership is Slowly Reversing
    Click Here to Read the Full Article

    Source: www.builderonline.com
  • 1:58 PM » Investors keep pouring money into bonds, and are paying a big price for it
    Published Fri, Sep 21 2018 1:58 PM by CNBC
    Risk-averse investors keep pouring money into bonds even though it means they've missed out on a big stock rally and face substantial danger ahead.
  • 11:51 AM » Homebuilder shares plunge after JP Morgan says housing recovery will be 'tepid,' downgrading 5 stocks
    Published Fri, Sep 21 2018 11:51 AM by CNBC
    Homebuilder stocks are tanking after J.P. Morgan said it is "more cautious" about the sector's prospects.
  • 10:56 AM » BLS: Unemployment Rates in Idaho, Oregon, South Carolina and Washington at New Lows
    Published Fri, Sep 21 2018 10:56 AM by Calculated Risk Blog
    From the BLS: Regional and State Employment and Unemployment Summary Unemployment rates were lower in August in 13 states , higher in 3 states, and stable in 34 states and the District of Columbia, the U.S. Bureau of Labor Statistics reported today. Eleven states had jobless rate decreases from a year earlier and 39 states and the District had little or no change. The national unemployment rate was unchanged from July at 3.9 percent but was 0.5 percentage point lower than in August 2017. ... Hawaii had the lowest unemployment rate in August, 2.1 percent. The rates in Idaho (2.8 percent), Oregon (3.8 percent), South Carolina (3.4 percent), and Washington (4.5 percent) set new series lows. (All state series begin in 1976.) Alaska had the highest jobless rate, 6.7 percent. emphasis added Click on graph for larger image. This graph shows the number of states (and D.C.) with unemployment rates at or above certain levels since January 1976. At the worst of the great recession, there were 11 states with an unemployment rate at or above 11% (red). Currently only one state, Alaska, has an unemployment rate at or above 6% (dark blue).
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 10:36 AM » Commercial Real Estate Cycles — Q2 2018
    Published Fri, Sep 21 2018 10:36 AM by blog.stewart.com
    This is the Must Have quarterly report for those in commercial real estate For me this is the most timely read quarterly information regarding Commercial Real Estate — Dr. Glenn Mueller's Real Estate Cycles Q2 2018 report from Black Creek Group - Black Creek Research. The report contains valuable data spanning major commercial real … Read more
    Click Here to Read the Full Article

    Source: blog.stewart.com
  • 10:09 AM » U.S. 'very close' to proceeding with Mexico-only trade deal: Trump adviser
    Published Fri, Sep 21 2018 10:09 AM by Reuters
    The United States is getting "very, very close" to having to move forward on its trade deal with Mexico without Canada, White House economic adviser Kevin Hassett said on Friday.
  • 9:45 AM » Vinyl and Stucco are the Most Common Siding On New Homes
    Published Fri, Sep 21 2018 9:45 AM by eyeonhousing.org
    The most common exterior wall materials on homes started in 2017 were vinyl and siding. Vinyl siding was used on 27 percent of the new homes started in 2017, followed closely by stucco (25 percent), brick or brick veneer (21 percent), and fiber cement siding (such as Hardiplank or Hardiboard) (20 percent). Far smaller shares of single-family homes started last year... Read More ›
    Click Here to Read the Full Article

    Source: eyeonhousing.org
  • 9:02 AM » Over 62,000 still without power in the Carolinas after Florence
    Published Fri, Sep 21 2018 9:02 AM by Reuters
    More than 62,000 homes and businesses in the Carolinas were still without power on Friday, a week after Hurricane Florence hit the North Carolina coast on Sept. 14, according to local power companies.
  • 8:08 AM » U.S. bond market recession signal not far away, strategists say: Reuters poll
    Published Fri, Sep 21 2018 8:08 AM by Reuters
    U.S. bond market recession signal not far away, strategists say: Reuters poll
  • 8:01 AM » Fed's Powell between a rock and hard place: Ignore the yield curve or tight job market?
    Published Fri, Sep 21 2018 8:01 AM by Reuters
    Unemployment near a 20-year low screams at the U.S. Federal Reserve to raise interest rates or risk a too-hot economy. The bond market, not far from a state that typically precedes a recession, says not so fast.
  • Thu, Sep 20 2018
  • 4:28 PM » Wells Fargo to cut headcount by 5-10 percent in next 3 years
    Published Thu, Sep 20 2018 4:28 PM by Reuters
    Wells Fargo & Co said on Thursday it would reduce its headcount by about 5 percent to 10 percent within the next three years as part of a turnaround plan.
  • 2:31 PM » CoreLogic: 2.2 million Homes still in negative equity at end of Q2 2018
    Published Thu, Sep 20 2018 2:31 PM by Calculated Risk Blog
    From CoreLogic: Homeowner Equity Q2 2018 CoreLogic analysis shows U.S. homeowners with mortgages (roughly 63 percent of all properties) have seen their equity increase by a total of nearly $981 billion since the second quarter 2017, an increase of 12.3 percent, year over year. Homeowners Emerge from the Negative Equity Trap: In the second quarter 2018, the total number of mortgaged residential properties with negative equity decreased 9 percent from the first quarter 2017 to 2.2 million homes , or 4.3 percent of all mortgaged properties. Compared to the second quarter 2017, negative equity decreased 20.1 percent from 2.8 million homes, or 5.4 percent of all mortgaged properties. ... Negative equity peaked at 26 percent of mortgaged residential properties in the fourth quarter of 2009, based on the CoreLogic equity data analysis which began in the third quarter of 2009. emphasis added CR Note: A year ago, in Q2 2017, there were 2.8 million properties with negative equity - now there are 2.2 million.  A significant change.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 1:10 PM » More than One in Four Home-Sellers Dropped their Price Last Month
    Published Thu, Sep 20 2018 1:10 PM by www.redfin.com
    Share of homes with price drops reached a record-high in September The post More than One in Four Home-Sellers Dropped their Price Last Month appeared first on Redfin Real-Time .
    Click Here to Read the Full Article

    Source: www.redfin.com
  • 12:07 PM » The CFPB's Latest Credit Invisibility Report: What Should We Make of It?
    Published Thu, Sep 20 2018 12:07 PM by www.consumerfinancemonitor.com
    Earlier this week, the CFPB's Office of Research released its third "Data Point" report on Americans who are "credit invisible" - that is, those without an established credit history with the three national credit reporting agencies - and who therefore cannot be scored by most traditional credit scoring models. The report, entitled "The Geography of... Continue Reading
    Click Here to Read the Full Article

    Source: www.consumerfinancemonitor.com
  • 11:41 AM » US Consumer Comfort Rises to New 17-Year High
    Published Thu, Sep 20 2018 11:41 AM by Bloomberg
    Bloomberg US Consumer Comfort Rises to New 17-Year High Bloomberg U.S. consumer sentiment advanced last week to a fresh 17-year high on brighter views of the economy, personal finances and the buying climate, the Bloomberg Consumer Comfort Index showed Thursday.
  • 11:06 AM » Federal Reserve Board approves final amendments to the liability provisions of Regulation CC
    Published Thu, Sep 20 2018 11:06 AM by www.consumerfinancemonitor.com
    Last Wednesday the Federal Reserve published approved final amendments to Regulation CC (Availability of Funds and Collections of Checks) which update the liability provisions of Reg. CC to address the nearly-complete conversion of the nation's check collection system from a paper to an electronic environment. Historically, when banks disputed which party should be responsible for... Continue Reading
    Click Here to Read the Full Article

    Source: www.consumerfinancemonitor.com
  • 10:20 AM » Existing home sales unchanged in August
    Published Thu, Sep 20 2018 10:20 AM by CNBC
    U.S. home sales flatlined in August but inventory increased for the first time in three years as the housing market continued to struggle despite strength across the broader economy.
  • 9:57 AM » Borrowers Lie to Get Approved
    Published Thu, Sep 20 2018 9:57 AM by www.builderonline.com
    Borrowers Lie to Get Approved
    Click Here to Read the Full Article

    Source: www.builderonline.com
  • 9:44 AM » Jay Powell reportedly ramps up meetings with lawmakers as he seeks to protect Fed's independence
    Published Thu, Sep 20 2018 9:44 AM by CNBC
    Fed Chairman Jerome Powell has reportedly been making the rounds on Capitol Hill amidst criticism from President Trump that could threaten the central bank's independence.
  • 8:52 AM » Weekly Initial Unemployment Claims decreased to 201,000, Lowest Since 1969
    Published Thu, Sep 20 2018 8:52 AM by Calculated Risk Blog
    The DOL reported : In the week ending September 15, the advance figure for seasonally adjusted initial claims was 201,000 , a decrease of 3,000 from the previous week's unrevised level of 204,000. This is the lowest level for initial claims since November 15, 1969 when it was 197,000. The 4-week moving average was 205,750, a decrease of 2,250 from the previous week's unrevised average of 208,000. This is the lowest level for this average since December 6, 1969 when it was 204,500. 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 205,750. This was lower than the the consensus forecast. The low level of claims suggest few layoffs.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 8:05 AM » Dollar Traders See the Fed's Next Rate Hike as a Big Sell Signal
    Published Thu, Sep 20 2018 8:05 AM by Bloomberg
    Bloomberg Dollar Traders See the Fed's Next Rate Hike as a Big Sell Signal Bloomberg When a nation's central bank raises interest rates, it's often a bullish sign for the currency. Not so in the U.S., where expectations for a Federal Reserve rate hike next week are flashing sell signals for the dollar. BNP Paribas Asset Management says ... and more »
  • 8:03 AM » DoubleLine's Gundlach warns US Treasury yields are headed higher
    Published Thu, Sep 20 2018 8:03 AM by CNBC
    Jeffrey Gundlach, chief executive officer of DoubleLine Capital, on Wednesday said bond prices across the U.S. Treasury yield curve could fall if the 30-year yield closes above 3.25 percent twice in a row.
  • Wed, Sep 19 2018
  • 4:17 PM » Gundlach Is Right. Surging US Bond Yields Are Met With Shrugs
    Published Wed, Sep 19 2018 4:17 PM by Bloomberg
    Bloomberg Gundlach Is Right. Surging US Bond Yields Are Met With Shrugs Bloomberg The selloff in Treasuries that's taken the 10-year yield above 3 percent isn't getting enough attention. And DoubleLine CEO Jeffrey Gundlach has noticed. He's right -- at least on the first part. References to "Treasury yields" in news articles are ... and more »
  • 4:16 PM » Treasury Yields Take Flight, Setting Up Big Shorts for Rewards
    Published Wed, Sep 19 2018 4:16 PM by Bloomberg
    Bloomberg Treasury Yields Take Flight, Setting Up Big Shorts for Rewards Bloomberg Liftoff may finally have arrived for yields in the world's biggest debt market. That's good news for the fast-money crowd that's rarely been more bearishly positioned on 10-year Treasury futures. Yields on all maturities have taken flight this week ... and more »
  • 4:12 PM » Nine Years Ago: Fast or Sluggish Recovery?
    Published Wed, Sep 19 2018 4:12 PM by Calculated Risk Blog
    This is my 14th year writing this blog, and sometimes it is fun to look back at earlier predictions. In the early stages of the recovery (September 2009), a number of analysts were predicting a rapid recovery (see: A couple of Bullish Views ). My view was that the recovery would be sluggish.  First, I quoted from some optimistic views, and then wrote: I disagree with these views. Although I started the year expecting a bottom in new home sales and single family housing starts (and it appears that has happened), there is still too much existing home inventory for much of an increase in the short term. ... onsumers will remain under pressure as they repair their household balance sheets This time housing will remain under pressure until the number of excess housing units (both owner occupied and rentals) decline to more normal levels. So I think an "Immaculate Recovery" is very unlikely. Note: Housing starts did bottom in 2009, and then mostly moved sideways for the next couple of years. House prices didn't bottom for a few more years (from February 2012: The Housing Bottom is Here ). Click on graph for larger image. And, according to the NY Fed , household debt didn't bottom until Q2 2013. This graph shows aggregate consumer debt.  Household debt previously peaked in 2008, and bottomed in Q2 2013. Housing and household debt were drags on the economy for several years, and the recovery was sluggish. In addition, demographics weren't favorable (see: Demographics and GDP: 2% is the new 4%) sually following a recession, there is a brief period of above average growth - but not this time due to the financial crisis and need for households to deleverage. So we didn't see a strong bounce back (sluggish growth was predict on the blog for the first years of the recovery). And overall, we should have been expecting slower growth this decade due to demographics - even without the housing bubble-bust and financial crisis. For 2018...
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 3:06 PM » This type of loan doesn't help your credit score, even if you stay on top of it
    Published Wed, Sep 19 2018 3:06 PM by CNBC
    Paying down your debts on time can help your credit score in the long run. But not if you use this type of loan.
  • 1:05 PM » The 'Great Bull' market is 'dead,' and here's what's next, Bank of America Merrill Lynch predicts
    Published Wed, Sep 19 2018 1:05 PM by CNBC
    The "Great Bull" market that came after the financial crisis is dead due to slowing economic growth, rising interest rates and too much debt, according to a Bank of America Merrill Lynch analysis.
  • 1:02 PM » AIA: "August architecture firm billings rebound"
    Published Wed, Sep 19 2018 1:02 PM by Calculated Risk Blog
    Note: This index is a leading indicator primarily for new Commercial Real Estate (CRE) investment. From the AIA: August architecture firm billings rebound as building investment spurt continues Architecture firm billings rebounded solidly in August, posting their eleventh consecutive month of growth, according to a report released today from The American Institute of Architects (AIA). AIA's Architecture Billings Index (ABI) score for August was 54.2 compared to 50.7 in July (any score over 50 represents billings growth). Most of the growth continues to come from the South and the multi-family residential sector. "Billings at architecture firms in the South continue to lead the healthy increase in design activity that we've seen across the profession in recent months," said AIA Chief Economist Kermit Baker, Hon. AIA, PhD. "Nationally, growth across all building sectors remains solidly positive." ... • Regional averages: West (54.2), Midwest (52.5), South (57.0), Northeast (46.9) • Sector index breakdown: multi-family residential (55.6), institutional (52.3), commercial/industrial (53.6), mixed practice (51.7) emphasis added Click on graph for larger image. This graph shows the Architecture Billings Index since 1996. The index was at 54.2 in August, up from 50.7 in July. Anything above 50 indicates expansion in demand for architects' services. Note: This includes commercial and industrial facilities like hotels and office buildings, multi-family residential, as well as schools, hospitals and other institutions. According to the AIA, there is an "approximate nine to twelve month lag time between architecture billings and construction spending" on non-residential construction.  This index was positive in 11 of the last 12 months, suggesting a further increase in CRE investment in 2018 and into 2019.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 11:19 AM » Draghi Urges New Euro-Zone Fiscal Tool to Keep Economy Stable
    Published Wed, Sep 19 2018 11:19 AM by Bloomberg
    Draghi Urges New Euro-Zone Fiscal Tool to Keep Economy Stable
  • 10:45 AM » Ten years after the financial crisis: Reflections by Bernanke, Geithner and Paulson
    Published Wed, Sep 19 2018 10:45 AM by webfeeds.brookings.edu
    Ten years after Lehman Brothers' bankruptcy, former Federal Reserve Chairman Ben Bernanke, former New York Fed President and Treasury Secretary Tim Geithner, and former Treasury Secretary Hank Paulson reflect on the responses they led to the 2007-09 global financial crisis and ensuing Great Recession. Here are highlights of their wide-ranging conversation with Andrew Ross Sorkin…                
    Click Here to Read the Full Article

    Source: webfeeds.brookings.edu
  • 10:24 AM » Booking a vacation to Bermuda vs. a new kitchen: Here's how some people misuse their home equity
    Published Wed, Sep 19 2018 10:24 AM by CNBC
    Sure, you can use your home equity to cover a new kitchen or to help back up your rainy-day funds. But some people are just fine with using their abode to help meet monthly bills. Here's what you need to know about home equity loans and lines of credit.
  • 9:07 AM » Low-income Americans get double squeeze from poor credit and high fees
    Published Wed, Sep 19 2018 9:07 AM by CNBC
    Poor credit is a serious problem for low-income Americans.
  • 8:03 AM » The Fed has some big decisions to make starting next week
    Published Wed, Sep 19 2018 8:03 AM by CNBC
    When the Federal Reserve gathers next week, markets likely will be looking past a widely expected rate hike and toward the direction the central bank will chart ahead.
  • 8:01 AM » Cash-Strapped Americans Are Leveraging Their Homes to Pay the Bills
    Published Wed, Sep 19 2018 8:01 AM by Bloomberg
    Bloomberg Cash-Strapped Americans Are Leveraging Their Homes to Pay the Bills Bloomberg As U.S. household debt rises and wages stagnate, millions of Americans are tapping into home equity to keep up with day-to-day expenses. Twenty-four million homeowners believe borrowing against home equity is an acceptable way to cover regular bills, ... and more »
  • Tue, Sep 18 2018
  • 3:09 PM » Hurricane Florence Creating Housing Shortage for Displaced North Carolinians
    Published Tue, Sep 18 2018 3:09 PM by www.realtor.com
    Finding temporary housing for North Carolinians displaced by Hurricane Florence could prove more difficult than it was for those uprooted in the past. The post Hurricane Florence Creating Housing Shortage for Displaced North Carolinians appeared first on Real Estate News & Insights | realtor.com® .
    Click Here to Read the Full Article

    Source: www.realtor.com
  • 3:09 PM » Agencies propose rule regarding the treatment of high volatility commercial real estate
    Published Tue, Sep 18 2018 3:09 PM by Federal Reserve
    Agencies propose rule regarding the treatment of high volatility commercial real estate
    Click Here to Read the Full Article

    Source: Federal Reserve
1 2 3 4 5 Next > ... Last »
Did you know?
You can see a list of all comments on MND by clicking the 'Read the Latest Comments' option under the 'Community' menu.
 

More From MND

Mortgage Rates:
  • 30 Yr FRM 4.85%
  • |
  • 15 Yr FRM 4.30%
  • |
  • Jumbo 30 Year Fixed 4.40%
MBS Prices:
  • 30YR FNMA 4.5 103-01 (0-00)
  • |
  • 30YR FNMA 5.0 104-29 (-0-00)
  • |
  • 30YR FNMA 5.5 106-11 (0-01)
Recent Housing Data:
  • Mortgage Apps -2.60%
  • |
  • Refinance Index -3.69%
  • |
  • Purchase Index -1.98%