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  • Thu, Aug 22 2019
  • 3:56 PM » Dallas Fed's Kaplan says he'd like to avoid cutting rates again in September, but has 'open mind'
    Published Thu, Aug 22 2019 3:56 PM by CNBC
    Dallas Fed President Robert Kaplan spoke to CNBC on Thursday from Fed's the economic policy symposium in Jackson Hole, Wyoming.
  • 2:01 PM » Markets doubt Fed's ability to defend economy, spur inflation
    Published Thu, Aug 22 2019 2:01 PM by Reuters
    The U.S. Federal Reserve wanted to do two things when it cut rates for the first time in a decade last month: Support the economy and spark inflation expectations.
  • 1:18 PM » Fed's Powell, under pressure, likely to stick to 'mid-cycle' message
    Published Thu, Aug 22 2019 1:18 PM by Reuters
    Federal Reserve Chair Jerome Powell comes to this year's meeting of central bankers in Jackson Hole, Wyoming, caught between discord within the U.S. central bank over appropriate monetary policy and mounting outside pressure for more interest rate cuts.
  • 11:58 AM » First-Time Homebuyers Need More Than Just Lower Mortgage Rates
    Published Thu, Aug 22 2019 11:58 AM by Bloomberg
    First-Time Homebuyers Need More Than Just Lower Mortgage Rates    Bloomberg Mortgage rates in the U.S. dropped closer to historic lows this week, but that may do little to help first-time buyers as starter homes vanish.
  • 11:22 AM » Fed's Harker says does not see case for additional stimulus: CNBC
    Published Thu, Aug 22 2019 11:22 AM by Reuters
    Philadelphia Federal Reserve Bank President Patrick Harker said on Thursday that he does not see the case for additional stimulus.
  • 10:27 AM » Apartment and Condominium Confidence Rebounds to Positive Territory in Second Quarter
    Published Thu, Aug 22 2019 10:27 AM by eyeonhousing.org
    Builder and developer confidence in the multifamily market strengthened in the second quarter of 2019, according to the National Association of Home Builders' (NAHB) Multifamily Market Survey (MMS). The MMS consists of two indices measuring supply and demand in the multifamily market: the Multifamily Production Index (MPI) and the Multifamily Vacancy Index (MVI). In the second quarter, the MPI jumped... Read More ›
    Click Here to Read the Full Article

    Source: eyeonhousing.org
  • 9:54 AM » Merkel: We can have until Oct 31 for Brexit backstop solution
    Published Thu, Aug 22 2019 9:54 AM by Reuters
    German Chancellor Angela Merkel said on Thursday she had not set Britain a 30-day deadline to find a solution for the so-called Irish backstop, saying they could also have time until Oct. 31, when Britain is due to leave the European Union.
  • 9:25 AM » What a Yield-Curve Inversion Really Says About the U.S. Economy
    Published Thu, Aug 22 2019 9:25 AM by Bloomberg
    What a Yield-Curve Inversion Really Says About the U.S. Economy    Bloomberg The chance of a recession in 2020 has Democratic campaign strategists feverish with anticipation-while trying not to show it-and President Trump even more ...
  • 8:47 AM » Esther George says the Fed's 'large balance sheet' may have helped cause the yield curve inversion
    Published Thu, Aug 22 2019 8:47 AM by CNBC
    Kansas City Fed President Esther George said the Federal Reserve may be partly responsible for the yield curve inversion.
  • 8:05 AM » Kansas City Fed's Esther George says the July rate cut was not needed
    Published Thu, Aug 22 2019 8:05 AM by CNBC
    Kansas City Fed President Esther George disagrees with the U.S. central bank's move to cut rates last month as the economy is still strong.
  • Wed, Aug 21 2019
  • 4:58 PM » Contrasting Built-for-Rent and For-Sale New Single-Family Homes
    Published Wed, Aug 21 2019 4:58 PM by eyeonhousing.org
    How do homes built-for-rent differ from more common for-sale new single-family homes? This is an important question given recent attention on the built-for-rent sector of the residential construction industry. Second quarter data for 2019 reveal that approximately 42,000 homes were built-for-rent over the last year, representing about 5% of single-family construction. Though this figure continues to trend modestly higher as... Read More ›
    Click Here to Read the Full Article

    Source: eyeonhousing.org
  • 3:15 PM » Traders Maintain Bets on 2019 Fed Easing After FOMC Minutes - Bloomberg
    Published Wed, Aug 21 2019 3:15 PM by Bloomberg
    Traders Maintain Bets on 2019 Fed Easing After FOMC Minutes    Bloomberg The amount of U.S. central-bank easing priced in by the futures market for this year was little changed following the release minutes of the Federal Reserve's ...
  • 2:22 PM » Trump reverses course, says he's not considering tax cuts because of 'strong economy'
    Published Wed, Aug 21 2019 2:22 PM by CNBC
    "I'm not looking at a tax cut now," Trump said after days of confusion over whether and how the White House would respond to recession fears.
  • 2:22 PM » Minutes of the Federal Open Market Committee, July 30-31, 2019
    Published Wed, Aug 21 2019 2:22 PM by Federal Reserve
    Minutes of the Federal Open Market Committee, July 30-31, 2019
    Click Here to Read the Full Article

    Source: Federal Reserve
  • 2:22 PM » Fed debated bigger rate cut, wanted to avoid appearing on path for more cuts
    Published Wed, Aug 21 2019 2:22 PM by Reuters
    The Federal Reserve debated cutting interest rates more aggressively at its last meeting, although central bankers were united in wanting to avoid the appearance of being on a path to more rate cuts, records from the meeting showed.
  • 1:25 PM » Comments on July Existing Home Sales
    Published Wed, Aug 21 2019 1:25 PM by Calculated Risk Blog
    Earlier: NAR: Existing-Home Sales Increased to 5.42 million in July A few key points: 1) Existing home sales were up 0.6% year-over-year (YoY) in July.  This was the first YoY increase since early 2018. 2) Inventory is still low, and was down 1.6% year-over-year (YoY) in July. 3) As usual, housing economist Tom Lawler's forecast was closer (barely this month) to the NAR report than the consensus. See: Lawler: Early Read on Existing Home Sales in July .   The consensus was for sales of 5.39 million SAAR.  Lawler estimated the NAR would report 5.40 million SAAR in July, and the NAR actually reported 5.42 million SAAR. Click on graph for larger image. 4) Year-to-date sales are down about 2.9% compared to the same period in 2018.   On an annual basis, that would put sales around 5.20 million in 2019.  Sales slumped at the end of 2018 and in January 2019 due to higher mortgage rates, the stock market selloff, and fears of an economic slowdown. The comparisons will be easier towards the end of this year, and with lower mortgage rates, sales might even finish the year unchanged or even up from 2018. The second graph shows existing home sales Not Seasonally Adjusted (NSA). Sales NSA in July (540,000, red column) were above sales in July 2018 (528,000, NSA), and were the highest sales for July since 2015.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 1:25 PM » Big Treasury Options Trade Shows Anxiety About Jackson Hole - Bloomberg
    Published Wed, Aug 21 2019 1:25 PM by Bloomberg
    Big Treasury Options Trade Shows Anxiety About Jackson Hole    Bloomberg Bond traders appear worried that Federal Reserve Chairman Jerome Powell's Friday speech in Jackson Hole could reignite the rally that drove Treasury yields ...
  • 1:25 PM » AIA: "Architecture Billings Index Continues Its Streak of Soft Readings"
    Published Wed, Aug 21 2019 1:25 PM by Calculated Risk Blog
    Note: This index is a leading indicator primarily for new Commercial Real Estate (CRE) investment. From the AIA: Architecture Billings Index Continues Its Streak of Soft Readings Demand for design services in July remained essentially flat in comparison to the previous month , according to a new report released today from The American Institute of Architects (AIA). AIA's Architecture Billings Index (ABI) score of 50.1 in July showed a small increase in design services since June, which was a score of 49.1. Any score above 50 indicates an increase in billings. In July, the design contracts score dipped into negative territory for the first time in almost a year. Additionally, July billings softened in all regions except the West, and at firms of all specializations except multifamily residential. "The data is not the same as what we saw leading up to the last economic downturn but the continued, slowing across the board will undoubtedly impact architecture firms and the broader construction industry in the coming months," said AIA Chief Economist Kermit Baker, PhD, Hon. AIA. " A growing number of architecture firms are reporting that the ongoing volatility in the trade situation, the stock market, and interest rates are causing some of their clients to proceed more cautiously on current projects ." ... • Regional averages: West (51.2); Midwest (48.9); South (48.3); Northeast (48.3) • Sector index breakdown: multi-family residential (50.6); institutional (49.8); commercial/industrial (49.2); mixed practice (48.9) emphasis added Click on graph for larger image. This graph shows the Architecture Billings Index since 1996. The index was at 50.1 in July, up from 49.1 in June. 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...
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 12:03 PM » Employment: Preliminary annual benchmark revision shows downward adjustment of 501,000 jobs
    Published Wed, Aug 21 2019 12:03 PM by Calculated Risk Blog
    The BLS released the preliminary annual benchmark revision showing 501,000 fewer payroll jobs as of March 2019. The final revision will be published when the January 2019 employment report is released in February 2020. Usually the preliminary estimate is pretty close to the final benchmark estimate. The annual revision is benchmarked to state tax records. From the BLS: In accordance with usual practice, the Bureau of Labor Statistics (BLS) is announcing the preliminary estimate of the upcoming annual benchmark revision to the establishment survey employment series. The final benchmark revision will be issued in February 2020 with the publication of the January 2020 Employment Situation news release. Each year, the Current Employment Statistics (CES) survey employment estimates are benchmarked to comprehensive counts of employment for the month of March. These counts are derived from state unemployment insurance (UI) tax records that nearly all employers are required to file. For national CES employment series, the annual benchmark revisions over the last 10 years have averaged plus or minus two-tenths of one percent of total nonfarm employment. The preliminary estimate of the benchmark revision indicates a downward adjustment to March 2019 total nonfarm employment of -501,000 (-0.3 percent). emphasis added Using the preliminary benchmark estimate, this means that payroll employment in March 2019 was 501,000 lower than originally estimated. In February 2020, the payroll numbers will be revised down to reflect the final estimate. The number is then "wedged back" to the previous revision (March 2018). Construction was revised down by 9,000 jobs, and manufacturing revised down by 3,000 jobs. This preliminary estimate showed 514,000 fewer private sector jobs, and 13,000 more government jobs (as of March 2019).
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 10:05 AM » Fed Minutes, Biarritz to Jackson Hole, Rate Cuts Ahead: Eco Day
    Published Wed, Aug 21 2019 10:05 AM by Bloomberg
    Fed Minutes, Biarritz to Jackson Hole, Rate Cuts Ahead: Eco Day    Bloomberg Welcome to Wednesday, Americas. Here's the latest news and analysis from Bloomberg Economics to help get your day started:
  • 9:33 AM » Italy's crisis could lead to 3 different scenarios for its volatile bond market
    Published Wed, Aug 21 2019 9:33 AM by CNBC
    Italy's fresh political crisis has left investors contemplating how to trade its sovereign bond market which has seen significant volatility over the last few months.
  • 8:03 AM » Household Income Outpaces GDP in Many Developed Nations
    Published Wed, Aug 21 2019 8:03 AM by Bloomberg
    Household Income Outpaces GDP in Many Developed Nations    Bloomberg Good news for spending power: household income grew faster than the economy across most developed nations in the first quarter, according to per capita data ...
  • 8:03 AM » Goldman Sachs Expects Fed to Cut Twice More in ‘Hall of Mirrors'
    Published Wed, Aug 21 2019 8:03 AM by Bloomberg
    Goldman Sachs Expects Fed to Cut Twice More in 'Hall of Mirrors'    Bloomberg Goldman Sachs Group Inc. economists predict Federal Reserve officials will cut interest rates at each of their next two meetings -- in part because of a desire to ...
  • Tue, Aug 20 2019
  • 5:11 PM » This Is How Cool You Should Keep Your House—Spoiler: Not Very
    Published Tue, Aug 20 2019 5:11 PM by www.realtor.com
    Thermostat wars gain antagonists amid effort to promote energy efficiency. The post This Is How Cool You Should Keep Your House-Spoiler: Not Very appeared first on Real Estate News & Insights | realtor.com® .
    Click Here to Read the Full Article

    Source: www.realtor.com
  • 4:45 PM » It's the Fed, but the world will have its say
    Published Tue, Aug 20 2019 4:45 PM by Reuters
    The U.S. Federal Reserve has a purely domestic mandate, answerable to an elected Congress and facing nearly daily demands from an outspoken president.
  • 3:12 PM » Trump looking at possible U.S. tax cuts but not now
    Published Tue, Aug 20 2019 3:12 PM by Reuters
    President Donald Trump on Tuesday said his administration was looking to cut U.S. taxes, but he was not talking about doing anything at this moment.
  • 2:34 PM » 8 U.S. cities where you need to earn more than $100,000 to buy a home
    Published Tue, Aug 20 2019 2:34 PM by CNBC
    CNBC Make It identified 8 U.S. cities where the qualifying income to purchase a home with a 10% or 20% down payment is an annual salary of $100,000 or more, based on data from the National Association of Realtors.
  • 12:34 PM » Safe-havens rise as recession concerns boost hopes for easing
    Published Tue, Aug 20 2019 12:34 PM by Reuters
    Traditional safe-havens including the Japanese yen and U.S. Treasuries were sought out on Tuesday even as there were signs that more economic stimulus was on its way, as traders focused on concerns over a global deceleration.
  • 12:34 PM » Home Depot beats quarterly profit estimates, warns of tariff impact
    Published Tue, Aug 20 2019 12:34 PM by Reuters
    Home Depot Inc beat quarterly profit estimates on Tuesday as it sold more big-ticket items to high-spending builders and handymen, while flagging the potential impact of U.S. President Donald Trump's ongoing trade tussle with China on consumers.
  • 10:58 AM » Italian Prime Minister Conte announces resignation, bringing Rome closer to snap elections
    Published Tue, Aug 20 2019 10:58 AM by CNBC
    Italian Prime Minister Giuseppe Conte announced his intention to resign on Tuesday, as a political crisis rumbles on in Rome that could eventually lead to new elections.
  • 10:09 AM » Former Fed official Kocherlakota agrees with Trump that rates are too high
    Published Tue, Aug 20 2019 10:09 AM by CNBC
    Former Minneapolis Fed President Narayana Kocherlakota said the notion that monetary policy is too restrictive is basically correct.
  • 9:38 AM » U.S. banking regulator approves simpler 'Volcker Rule' ban on proprietary trading
    Published Tue, Aug 20 2019 9:38 AM by Reuters
    A U.S. banking regulator announced Tuesday he had approved a final rule simplifying the "Volcker Rule," which restricts risky profit-seeking trades by banks.
  • 8:29 AM » Robert Shiller says the Fed's rate cut had the opposite intended effect, sparked recession alarm
    Published Tue, Aug 20 2019 8:29 AM by CNBC
    Nobel prize winner Robert Shiller takes issue with the Federal Reserve's rate cut in July because of the psychological harm it caused the markets.
  • 8:07 AM » Inverted what? Searches for obscure financial term spike on Google
    Published Tue, Aug 20 2019 8:07 AM by Reuters
    Searches on Google for "inverted yield curve" have spiked after the unusual bond market phenomenon presented itself last week for the first time in over 12 years and helped tank Wall Street amid chatter that an economic downturn was imminent.
  • 8:07 AM » The Fed will cut rates five more times before April, analysts predict
    Published Tue, Aug 20 2019 8:07 AM by CNBC
    The U.S. Federal Reserve will cut interest rates five more times by April 2020, according to analysts at Danske Bank.
  • 8:03 AM » In Detroit, a Family Needs to Earn $27,000 to Afford the Typical Home. In San Francisco, It's More Than $265,000.
    Published Tue, Aug 20 2019 8:03 AM by www.redfin.com
    In San Francisco, a family needs to earn more than $265,000 to afford a median-priced home. See how other metros stack up. The post In Detroit, a Family Needs to Earn $27,000 to Afford the Typical Home. In San Francisco, It's More Than $265,000. appeared first on Redfin Blog .
    Click Here to Read the Full Article

    Source: www.redfin.com
  • Mon, Aug 19 2019
  • 3:11 PM » Powell gets the chance this week to make up with markets after his 'midcycle adjustment'
    Published Mon, Aug 19 2019 3:11 PM by CNBC
    Powell will have the opportunity if not to walk back the "mid-cycle" assessment then to at least provide some further explanation about what it means.
  • 3:10 PM » Treatment of models under HUD's proposed disparate impact rule: our thoughts
    Published Mon, Aug 19 2019 3:10 PM by www.consumerfinancemonitor.com
    In its proposed disparate impact rule published in today’s Federal Register, HUD sets forth a framework for making (and defending against) claims of disparate impact under the Fair Housing Act. In this blog post, we take a closer look at a new and unique aspect of the proposed rule: its treatment of mathematical models (like risk-scoring models... Continue Reading
    Click Here to Read the Full Article

    Source: www.consumerfinancemonitor.com
  • 3:10 PM » Fed's Rosengren says cutting rates could worsen next downturn: Bloomberg
    Published Mon, Aug 19 2019 3:10 PM by Reuters
    Boston Federal Reserve Bank President Eric Rosengren on Monday signaled no willingness to support further interest rate cuts, saying that U.S. economic conditions are still good and that easing policy could encourage a worrying debt build-up.
  • 1:34 PM » HUD publishes proposed revisions to disparate impact rule
    Published Mon, Aug 19 2019 1:34 PM by www.consumerfinancemonitor.com
    HUD's proposed revisions to its disparate impact rule were published in today's Federal Register. Comments on the proposal are due on or before October 18, 2019. Originally adopted in 2013, the rule sets forth the requirements for HUD or a private plaintiff to establish liability under the Fair Housing Act for discriminatory practices based on... Continue Reading
    Click Here to Read the Full Article

    Source: www.consumerfinancemonitor.com
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