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  • Fri, Oct 31 2014
  • 2:32 PM » One Reason for Inflation Softness Might Be the Season, Fed Research Suggests
    Published Fri, Oct 31 2014 2:32 PM by WSJ
    Consumer prices might look soft partly because it's the second half of the year.
  • 1:17 PM » The 13 scariest charts about our country and our world
    Published Fri, Oct 31 2014 1:17 PM by Washington Post
    Wonkblog laughs in the face of Halloween. Ghosts ? Monsters? These things don't scare us. What does make us shudder, though, is scary data about our country and world. From global warming and Ebola to inequality, racism and ageism, these 13 charts should frighten you. Read full article >>
    Click Here to Read the Full Article

    Source: Washington Post
  • 1:17 PM » 10 biggest financial-market events this week
    Published Fri, Oct 31 2014 1:17 PM by Market Watch
    Japan's surprise stimulus, the Fed's end to stimulus and the market's big rebound led the news, writes Phil van Doorn.
  • 11:54 AM » Preliminary: 2015 Housing Forecasts
    Published Fri, Oct 31 2014 11:54 AM by Calculated Risk Blog
    The NAHB released their 2015 housing forecast today. Towards the end of each year I collect some housing forecasts for the following year, and it looks like most analysts are optimistic for 2015. Here is a summary of forecasts for 2014 . In 2014, new home sales will be around 440 thousand, and total housing starts will be close to 1 million.  No one was close on New Home sales (all way too optimistic), and Michelle Meyer (Merrill Lynch) and Fannie Mae were the closest on housing starts (about 10% too high). In 2014, many analysts underestimated the impact of higher mortgage rates and higher new home prices on new home sales and starts. Note: Here is a summary of forecasts for 2013 . In 2013, new home sales were 429 thousand, and total housing starts were 925 thousand.  Barclays were the closest on New Home sales followed by David Crowe (NAHB).  Fannie Mae and the NAHB were the closest on housing starts. The table below shows a few forecasts for 2015 (I'll update these in December). From Fannie Mae: Housing Forecast: October 2014 From NAHB: Single-Family Production Poised to Take Off in 2015 I don't have Moody's Analytics' forecast, but Mark Zandi, chief economist at Moody's Analytics said today "that single-family starts could be closing in on 1 million units by the end of 2015 and multifamily production could go as high as 500,000 units."  That seems too high. I haven't worked up a forecast yet for 2015. Housing Forecasts for 2015 New Home Sales (000s) Single Family Starts (000s) Total Starts (000s) House Prices 1 NAHB 802 1,158 Fannie Mae 523 783 1,170 4.9% 2 Merrill Lynch 557 1,200 3.6% Wells Fargo 535 760 1,110 3.2% Zillow   3.0% 3 1 Case-Shiller unless indicated otherwise 2 FHFA Purchase-Only Index 3 Zillow Home Value Index, Sept 2014 to Sept 2015
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 10:54 AM » Fed's Kocherlakota: FOMC Dissent Driven by Persistent Inflation Weakness
    Published Fri, Oct 31 2014 10:54 AM by WSJ
    Federal Reserve Bank of Minneapolis President Narayana Kocherlakota said Friday he believes the U.S. central bank is failing to defend its inflation goal and that it should be providing more stimulus to the economy, in a statement defending his dissenting vote at this week's monetary policy meeting.
  • 10:54 AM » Single-Family Production Poised to Take Off in 2015
    Published Fri, Oct 31 2014 10:54 AM by NAHB
    Press Release
  • 10:52 AM » Freddie Mac 2014 Third Quarter Refinance Report
    Published Fri, Oct 31 2014 10:52 AM by freddiemac.mwnewsroom.com
    Freddie Mac 2014 Third Quarter Refinance Report
    Click Here to Read the Full Article

    Source: freddiemac.mwnewsroom.com
  • 8:59 AM » Japan's central bank shocks markets with more easing as inflation slows
    Published Fri, Oct 31 2014 8:59 AM by Reuters
    TOKYO (Reuters) - The Bank of Japan shocked global financial markets on Friday by expanding its massive stimulus spending in a stark admission that economic growth and inflation have not picked up as much as expected after a sales tax hike in April.
  • 8:58 AM » In Real Estate, Your Personality Makes You Predictable
    Published Fri, Oct 31 2014 8:58 AM by WSJ
    Are you agreeable or neurotic? The answer matters, since your personality can influence home-buying decisions.
  • 8:54 AM » Fannie-Freddie's Faith in FICO Tested by VantageScore - Bloomberg
    Published Fri, Oct 31 2014 8:54 AM by Bloomberg
    Fannie-Freddie's Faith in FICO Tested by VantageScore Bloomberg Barrett Burns has been lobbying Fannie Mae (FNMA) and Freddie Mac to adopt his credit-scoring system, VantageScore, for years. So when he spotted Mel Watt, the companies' regulator, sitting in a Las Vegas hotel with his family, Burns didn't hesitate to ...
  • 8:45 AM » US personal income rose 0.2% in Sept vs 0.3% expected
    Published Fri, Oct 31 2014 8:45 AM by CNBC
    This is a breaking news story. Please check back for updates.. U.S. personal income was expected to rise 0.3 percent in September, after climbing 0.3 percent the previous month.
  • Thu, Oct 30 2014
  • 11:08 PM » Why Not to Get Too Excited About U.S. Economy's Strong Third Quarter
    Published Thu, Oct 30 2014 11:08 PM by WSJ
    One of the largest quarterly contractions outside of a recession kicked off the year, followed by a roaring rebound, now only to end with mounting fears of a global slowdown.
  • 10:44 PM » September Las Vegas Region Home Sales Press Release
    Published Thu, Oct 30 2014 10:44 PM by DataQuick
    Las Vegas Region September Home Sales Las Vegas-area homes sold at the slowest pace for a September in seven years as the share of homes purchased by investors and other absentee buyers fell to a 69-month low. The median price paid for a home edged up from August to a six-year high, CoreLogic DataQuick reported. In September, 3,930 new and resale houses and condos closed escrow in the Las Vegas-Paradise metro area (Clark County). That was down 1.9 percent from the month before and down 7.8 percent from a year earlier, according to CoreLogic DataQuick data. Last month's sales were the lowest for a September since 2007, when 3,054 homes sold. Las Vegas region home sales typically dip between August and September. On average sales have fallen 5.4 percent between those two months since 1994, when Irvine-based CoreLogic DataQuick's complete Las Vegas-area statistics begin. Last month's home sales were 15.8 percent below the average number sold during all months of September since 1994. However, resales of houses and condos combined were 5.3 percent above average for a September, while sales of newly built homes were nearly 58 percent below the September average. Condo resales were 19.2 percent higher than the September average, while resales of detached houses were 2.0 percent above average. From January through September this year a total of 34,877 homes sold in the Las Vegas region, down 14.5 percent from the same nine-month period last year. Las Vegas-area buyers paid a median $196,816 for all new and resale houses and condos purchased in September, up 0.9 percent from August and up 12.5 percent from $175,000 a year earlier. Last month's median was the highest since it was $205,000 in September 2008. The median's 12.5 percent year-over-year increase last month was up from a 9.9 percent annual gain in August but it was far below the September 2013 year-over-year increase of 27.7 percent. The median has risen year-over-year for 30 straight months, with...
  • 10:40 PM » Friday: Personal Income and Outlays, Chicago PMI, Consumer Sentiment
    Published Thu, Oct 30 2014 10:40 PM by Calculated Risk Blog
    From Freddie Mac: Mortgage Rates Rebound, Remain Below Four Percent Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®), showing average fixed mortgage rates moving higher across the board this week and rebounding from the lowest rates of the year. 30-year fixed-rate mortgage (FRM) averaged 3.98 percent with an average 0.5 point for the week ending October 30, 2014, up from last week when it averaged 3.92 percent. A year ago at this time, the 30-year FRM averaged 4.10 percent. Mortgage News Daily shows rates today were at 4.01%. Friday: • At 8:30 AM ET, Personal Income and Outlays for September . The consensus is for a 0.3% increase in personal income, and for a 0.1% increase in personal spending. And for the Core PCE price index to increase 0.1%. • At 9:45 AM, the Chicago Purchasing Managers Index for October. The consensus is for a reading of 60.0, down from 60.5 in September. • At 9:55 AM, the Reuter's/University of Michigan's Consumer sentiment index (final for October). The consensus is for a reading of 86.4, unchanged from the preliminary reading of 86.4, and up from the September reading of 84.6.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 10:40 PM » Lawler: MDC Results and Homebuilder Summary Table
    Published Thu, Oct 30 2014 10:40 PM by Calculated Risk Blog
    From housing economist Tom Lawler: M.D.C. Holdings: Net Orders Up, Orders per Community Down; Margins Fall on Higher Incentives M.D.C. Holdings reported that net home orders in the quarter ended September 30, 2014 totaled 1,081, up 17.0% from the comparable quarter of 2013. Net orders per active community were down 2.3% from a year ago. Home deliveries totaled 1,093 last quarter, down 13.0% from the comparable quarter of 2013, at an average sales price of $370,600, up 7.4% from a year ago. The company's order backlog at the end of September was 1,874, up 6.4% from last September, at an average order price of $422,700, up 10.0% from a year ago. Here are some excerpts from the company's press release. 'Larry A. Mizel, MDC's Chairman and Chief Executive Officer, stated, "Against the backdrop of an uneven recovery for housing and overall economic conditions, we are pleased that we have consistently produced profitable results since the beginning of 2012. However, the volatility of the housing market recovery was evident in our third quarter results, as elevated land and construction costs, combined with our use of additional incentives to stimulate demand for new homes, have pressured our homebuilding gross margins." 'Mr. Mizel continued, "While we believe that the housing recovery remains on solid footing, it is evident that certain obstacles, such as Qualified Mortgage Standards and reduced Federal Housing Authority loan limits, have taken their toll on housing demand, especially for the first time buyer segment. Additionally, on the production side of our business, we have seen a negative impact from tighter subcontractor availability and adverse weather conditions in certain markets, as well as an elongated mortgage approval process. We believe the impact of many of these factors will diminish over time, allowing us to return to more robust levels of demand as overall economic conditions continue to improve."' M.D.C.'s results...
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 4:43 PM » Credit Research Part 3: The Recession and Mortgage Delinquencies
    Published Thu, Oct 30 2014 4:43 PM by FICO
    I’ve been blogging about the increase in US mortgage charge-offs during the Great Recession and its negative impact on homeownership. As the economy continues to recover, it is likely that lenders will start to relax their underwriting criteria-early indications of which have been confirmed by the OCC's most recent Survey of Underwriting Criteria. Even so, it is unclear how long it may take before we observe a substantial uptick in the homeownership rate. Why? In part, because there will still be a greater presence of delinquencies and other derogatory information on consumer credit files than before the recession. These delinquencies, especially in a relatively recent time period, equate to higher credit risk, which may give lenders pause in underwriting new mortgages for those borrowers. So how quickly are delinquency rates recovering? First, let's look at consumers with mortgages who had one or more 60-day delinquencies or worse on a mortgage... [Read More] The post Credit Research Part 3: The Recession and Mortgage Delinquencies appeared first on FICO .
  • 3:12 PM » Some aging Baby Boomers will upsize, not downsize, if they move at all, poll finds
    Published Thu, Oct 30 2014 3:12 PM by Washington Post
    We've been warned that the multi-level homes with the sprawling lawns in the driving-dependent suburbs that are popular with baby boomers may not work so well for them as they age. Harvard University's Joint Center for Housing Studies and the AARP told us so in a report released last month, which concluded that today's homes generally lack the features that these aging boomers will need - such as extra-wide hallways and easy-to-reach light switches and door knobs. Read full article >>
    Click Here to Read the Full Article

    Source: Washington Post
  • 3:11 PM » QE was a 'nonevent': Billion-dollar bond manager
    Published Thu, Oct 30 2014 3:11 PM by CNBC
    John Lekas of Leader Capital isn't sweating the end of quantitative easing. In fact, he's wondering why anyone ever thought it mattered.
  • 1:16 PM » Homelessness slowly on the decline
    Published Thu, Oct 30 2014 1:16 PM by CNN
    The nation's homeless population, and especially the number of families without shelter, continues to decline, according to a new report.
  • 1:16 PM » Household Savings Near Two-Year High Seen Boosting U.S. Spending - Bloomberg
    Published Thu, Oct 30 2014 1:16 PM by Bloomberg
    Household Savings Near Two-Year High Seen Boosting U.S. Spending Bloomberg Americans' savings may burn a hole in their pockets during the holiday-shopping season after consumer spending took a breather in the third quarter. Household purchases, which account for almost 70 percent of the economy, climbed at a 1.8 percent ...
  • 1:14 PM » Mortgage company that entered into CFPB consent order moves to dismiss class action claims
    Published Thu, Oct 30 2014 1:14 PM by www.cfpbmonitor.com
    Barbara S. Mishkin Earlier this week, Castle & Cooke Mortgage, LLC, the mortgage company that entered into a consent order with the CFPB in November 2013 to settle charges that it violated the Regulation Z loan originator compensation rule ("LO Compensation Rule"), filed a motion to dismiss three counts of the class action complaint filed against it in July... More >
    Click Here to Read the Full Article

    Source: www.cfpbmonitor.com
  • 11:21 AM » Yellen Surprises With Willingness to Displease Doves
    Published Thu, Oct 30 2014 11:21 AM by WSJ
    The Wall Street Journal's Daily Report on Global Central Banks for Thursday, October 30, 2014. Jon Hilsenrath writes about Fed Chairwoman Janet Yellen's lengthening record as a consensus builder, rather than the "pushy dove" many had expected.
  • 10:25 AM » The devil is in the details on Q3 GDP upgrade
    Published Thu, Oct 30 2014 10:25 AM by CNBC
    The Federal Reserve upgraded its outlook for the U.S. economy, but business and real estate investment and personal consumption dropped.
  • 10:12 AM » Mortgage Rates Rebound, Remain Below Four Percent
    Published Thu, Oct 30 2014 10:12 AM by freddiemac.mwnewsroom.com
    Mortgage Rates Rebound, Remain Below Four Percent
    Click Here to Read the Full Article

    Source: freddiemac.mwnewsroom.com
  • 10:12 AM » Economists React to GDP: ‘Broadly Constructive'
    Published Thu, Oct 30 2014 10:12 AM by WSJ
    Here is what some economists are saying about Thursday's GDP report.
  • 9:06 AM » Google's new data play: Predicting home sales
    Published Thu, Oct 30 2014 9:06 AM by CNBC
    When Google Capital, an equity fund backed by the Internet search behemoth, announced last spring that it would sink $50 million into Auction.com, housing watchers were left scratching their heads. What would Google want with an online real estate auction company? The answer is now clear: Data. And it goes both ways. Auction.com is launching a new monthly report, the 'Nowcast,' that it claims can predict home sales up to a month faster than the National Association of Realtors. Realtors help sell the vast majority of the nation's homes, while Auction.com does just a small fraction.
  • 8:53 AM » Economy in U.S. Grew 3.5% in Third Quarter, More Than Forecast - Bloomberg
    Published Thu, Oct 30 2014 8:53 AM by Bloomberg
    Economy in U.S. Grew 3.5% in Third Quarter, More Than Forecast Bloomberg The economy in the U.S. expanded more than forecast in the third quarter, capping its strongest six months in more than a decade, as gains in government spending and a shrinking trade deficit made up for a slowdown in household purchases.
  • 8:53 AM » U.S. jobless claims rise, but underlying labor market trends firming
    Published Thu, Oct 30 2014 8:53 AM by Reuters
    WASHINGTON (Reuters) - The number of Americans filing new claims for unemployment benefits rose for a second straight week last week, but remained at levels consistent with a firming labor market.
  • Wed, Oct 29 2014
  • 8:20 PM » 5 Things To Watch in Thursday's U.S. GDP Report
    Published Wed, Oct 29 2014 8:20 PM by WSJ
    The nation on Thursday gets its first look at how the U.S. economy fared during the third quarter, a period in which fears of a global growth slowdown steadily mounted, even against a backdrop of firm domestic demand.
  • 8:13 PM » Hatzius: Rate hike (still) coming September 2015
    Published Wed, Oct 29 2014 8:13 PM by CNBC
    When will Janet Yellen and company move to raise rates? A widely followed economist said on "Closing Bell" it should happen in about a year.
  • 8:07 PM » Home Builder Turns to More ‘Spec' Building To Battle Resales
    Published Wed, Oct 29 2014 8:07 PM by WSJ
    Meritage Homes Corp. has adopted a risky strategy to compete with the less-expensive market for existing homes: building more homes on speculation.
  • 8:07 PM » Rents are soaring -- and so are evictions
    Published Wed, Oct 29 2014 8:07 PM by CNN
    In cities across the United States, millions of people will be kicked out of their homes this year.
  • 3:53 PM » End of QE3 Means Fed Statement Finally Shrinks
    Published Wed, Oct 29 2014 3:53 PM by WSJ
    The end of QE3 may signal a watershed moment in Fed communications: The Federal Open Market Committee's statement is finally getting shorter.
  • 3:53 PM » Economists React to the Fed Statement: ‘Surprisingly Hawkish'
    Published Wed, Oct 29 2014 3:53 PM by WSJ
    Economists largely expected the end of the Fed's third round of quantitative easing, as it was known. But many found the statement more "hawkish."
  • 3:52 PM » SEC Said to Open Review of American Realty's Accounting - Bloomberg
    Published Wed, Oct 29 2014 3:52 PM by Bloomberg
    SEC Said to Open Review of American Realty's Accounting Bloomberg The U.S. Securities and Exchange Commission is reviewing American Realty Capital Properties Inc. (ARCP)'s accounting after the real estate investment trust replaced two executives as a result of errors in its financial statements, according to a person with ...
  • 3:50 PM » Transferring mortgage servicers can harm homeowners, inspector finds
    Published Wed, Oct 29 2014 3:50 PM by Market Watch
    The Special Inspector General for the bailout described how Treasury showed how transfering mortgage servicers can lead to delays in mortgage assistance.
  • 3:06 PM » Fed Announces End to Bond-Buying, Citing Job Gains
    Published Wed, Oct 29 2014 3:06 PM by rss.nytimes.com
    The central bank noted recent weakness in some gauges of inflation expectations, but it said the likelihood of persistently low inflation had diminished.
    Click Here to Read the Full Article

    Source: rss.nytimes.com
  • 1:21 PM » Market Extra: Why it's so hard to trade a Treasury bond right now
    Published Wed, Oct 29 2014 1:21 PM by Market Watch
    Here's how the Oct. 15 "flash crash" for the bond markets has made liquidity conditions worse.
  • 11:45 AM » As Fed leaves bond market, here's who will step in
    Published Wed, Oct 29 2014 11:45 AM by CNBC
    The end of Federal Reserve's quantitative easing program and its fight against "too big to fail" banks are on a collision course in the bond market.
  • 10:41 AM » S&P in mortgage settlement talks
    Published Wed, Oct 29 2014 10:41 AM by CNBC
    McGraw Hill said its S.&P. unit was in "active discussions" with regulators on a possible settlement. NY Times Reports.
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More From MND

Mortgage Rates:
  • 30 Yr FRM 4.03%
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  • 15 Yr FRM 3.21%
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  • Jumbo 30 Year Fixed 3.92%
MBS Prices:
  • 30YR FNMA 4.5 108-12 (0-00)
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  • 30YR FNMA 5.0 110-23 (0-03)
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  • 30YR FNMA 5.5 111-17 (-0-01)
Recent Housing Data:
  • Mortgage Apps 11.56%
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  • Refinance Index 23.29%
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  • FHFA Home Price Index 0.67%