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  • Tue, Nov 12 2019
  • 8:03 AM » Here's the No. 1 Reason Why Military Veterans Are Denied a VA Mortgage
    Published Tue, Nov 12 2019 8:03 AM by www.realtor.com
    Navigating the VA loan market can be difficult because too many lenders use financial jargon. If you're in the market for a VA loan, there are four things to keep in mind. The post Here's the No. 1 Reason Why Military Veterans Are Denied a VA Mortgage appeared first on Real Estate News & Insights | realtor.com® .
    Click Here to Read the Full Article

    Source: www.realtor.com
  • Mon, Nov 11 2019
  • 12:36 PM » Wall Street falls as Trump, Hong Kong sour mood
    Published Mon, Nov 11 2019 12:36 PM by Reuters
    Wall Street's main indexes fell on Monday as comments by President Donald Trump dampened optimism around a U.S.-China trade deal, while escalating violence in Hong Kong added to investor concerns.
  • 12:35 PM » Inner-city kids are learning the art of real estate investing from these major property tycoons
    Published Mon, Nov 11 2019 12:35 PM by CNBC
    Project Destined, a nonprofit program teaching inner-city kids how to develop and invest in real estate, operates in major cities nationwide. Participants gain financially from the profits on real deals in which Project Destined invests.
  • 12:34 PM » Only 12% of Adults Plan to Buy Home in Next 12 Months
    Published Mon, Nov 11 2019 12:34 PM by eyeonhousing.org
    Only 12% of adults are considering the purchase of a home within the next 12 months, according to NAHB's Housing Trends Report for the third quarter of 2019. This share of 'prospective home buyers' is essentially unchanged from where it stood a year earlier, at 13%. For the majority of these buyers (60%), this will be their first time buying... Read More ›
    Click Here to Read the Full Article

    Source: eyeonhousing.org
  • 12:34 PM » Lot Values Hit Record Highs
    Published Mon, Nov 11 2019 12:34 PM by eyeonhousing.org
    According to NAHB's analysis of the Census Bureau's Survey of Construction (SOC) data, median single-family lot prices outpaced inflation once again (4.4% vs 2.4%) and reached new record high in 2018, with half of the lots selling at or above $49,500. The most dramatic rise in lot values is observed in the West South Central division where median lot values... Read More ›
    Click Here to Read the Full Article

    Source: eyeonhousing.org
  • Fri, Nov 8 2019
  • 4:00 PM » Explainer: What to expect from the televised Trump impeachment hearings next week
    Published Fri, Nov 08 2019 4:00 PM by Reuters
    U.S. Democrats launch the public phase of their impeachment inquiry into President Donald Trump next week, with open, televised hearings set for Wednesday and Friday in the House of Representatives.
  • 4:00 PM » Trade deal doubts clip world stock rally, oil wavers
    Published Fri, Nov 08 2019 4:00 PM by Reuters
    Oil prices faltered and global equity markets slid on Friday, halting a week-long record-setting rally on hopes a U.S.-China trade deal was near, as investors parsed statements from Beijing and Washington on where they stand on rolling back tariffs.
  • 3:08 PM » The market rally will soon be tested by a big Trump speech and testimony from the Fed chief
    Published Fri, Nov 08 2019 3:08 PM by CNBC
    Progress in trade and steady Fed policy have eased the way for the stock market's new highs, and both will be in the spotlight in the week ahead.
  • 1:28 PM » Consumer Credit Increases in Third Quarter Despite Bank Lending Tightening
    Published Fri, Nov 08 2019 1:28 PM by eyeonhousing.org
    The Federal Reserve's latest G.19 Consumer Credit Report shows rising trends in consumer credit, excluding loans secured by real estate, through September 2019. In September, consumer credit increased at a seasonally adjusted annual rate of 2.8 percent from the previous month, with revolving debt1 decreasing by 1.2 percent and nonrevolving debt2 increasing by 4.2 percent. Consumer credit totaled $4.1 trillion... Read More ›
    Click Here to Read the Full Article

    Source: eyeonhousing.org
  • 12:59 PM » AAR: October Rail Carloads down 8.4% YoY, Intermodal Down 7.8% YoY
    Published Fri, Nov 08 2019 12:59 PM by Calculated Risk Blog
    From the Association of American Railroads (AAR) Rail Time Indicators . Graphs and excerpts reprinted with permission . A combination of a weak domestic manufacturing sector, feeble economic growth abroad that's limiting exports, continued trade spats that are disrupting global supply chains, and general economic uncertainty are creating strong headwinds for U.S. rail volumes. In October 2019, total U.S. rail carloads were down 8.4% from October 2018 , their ninth straight decline. ... I ntermodal won no prizes in October either: it was down 7.8% , its biggest percentage decline since January 2009. emphasis added Click on graph for larger image. This graph from the Rail Time Indicators report shows the year-over-year changes in U.S. Carloads. Total carloads originated by U.S. railroads in October 2019 were down 8.4%, or 112,703 carloads, from October 2018. That's the ninth straight yearover- year decline and the biggest percentage decline since March 2019. For the first ten months of 2019, total carloads were down 4.3%, or 497,121 carloads, from the same period last year. Year-to-date carloads were slightly lower in 2016, but other than that, 2019's year-to-date total is the lowest since sometime prior to 1988, when our data begin. The second graph is the year-over-year change for intermodal traffic (using intermodal or shipping containers): U.S. intermodal originations in October 2019 were 7.8% lower than in October 2018, their ninth straight monthly decline - something that hasn't happened since 2009 during the Great Recession. Year-to-date intermodal volume through October was down 4.5%, or 553,863 containers and trailers, from 2018.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 12:36 PM » Fed Governor Lael Brainard says the central bank needs to guard against climate change
    Published Fri, Nov 08 2019 12:36 PM by CNBC
    The issue could have impact on determining the proper level of interest rates and cause systemic financial damage, the Fed governor said.
  • 12:14 PM » Trump Gives Treasuries a Lift by Downplaying Progress on Tariffs
    Published Fri, Nov 08 2019 12:14 PM by Bloomberg
    Trump Gives Treasuries a Lift by Downplaying Progress on Tariffs    Bloomberg
  • 11:48 AM » Early Q4 GDP Forecasts: 0.7% to 2.1%
    Published Fri, Nov 08 2019 11:48 AM by Calculated Risk Blog
    From Goldman Sachs: ur Q4 GDP tracking estimate declined by one-tenth to +2.1% (qoq ar), and we increased our past-quarter GDP tracking estimate for Q3 by one-tenth to +2.1% (qoq ar, compared to +1.9% as originally reported). [November 4 estimate] emphasis added From the NY Fed Nowcasting Report The New York Fed Staff Nowcast stands at 0.7% for 2019:Q4 . News from this week's data releases decreased the nowcast for 2019:Q4 by 0.1 percentage point. [Nov 8 estimate] And from the Altanta Fed: GDPNow The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the fourth quarter of 2019 is 1.0 percent on November 5, down from 1.1 percent on November 1. [Nov 5 estimate] CR Note: These very early estimates suggest real GDP growth will be between 0.7% and 2.1% annualized in Q4.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 10:24 AM » US consumer sentiment comes in at 95.7 for November, vs 95.3 estimate
    Published Fri, Nov 08 2019 10:24 AM by CNBC
    US consumer sentiment comes in at 95.7 for November, vs 95.3 estimate<br/>https://www.cnbc.com/2019/11/08/us-consumer-sentiment-november-preliminary.html
  • 10:03 AM » Trump says he has not agreed to roll back tariffs on China, after week of trade optimism
    Published Fri, Nov 08 2019 10:03 AM by CNBC
    Trump says he has not agreed to roll back tariffs on China, after week of trade optimism<br/>https://www.cnbc.com/2019/11/08/trump-says-he-has-not-agreed-to-roll-back-tariffs-on-china-after-week-of-trade-optimism.html
  • 9:37 AM » White House says tariff could be removed if U.S.-China trade deal reached
    Published Fri, Nov 08 2019 9:37 AM by Reuters
    Tariffs could be lifted amid the U.S.-China trade deal if an agreement is reached, a White House spokeswoman said on Friday, citing optimism about a final pact but giving no further details.
  • 8:02 AM » Tariff Rollback, China Stimulus Risk, Fed Climate Alert: Eco Day
    Published Fri, Nov 08 2019 8:02 AM by Bloomberg
    Tariff Rollback, China Stimulus Risk, Fed Climate Alert: Eco Day    Bloomberg
  • 7:59 AM » Rollback of China tariffs faces fierce opposition in the White House
    Published Fri, Nov 08 2019 7:59 AM by CNBC
    An agreement between the United States and China to roll back existing tariffs as part of a "phase one" trade deal faces fierce internal opposition in the White House and from outside advisers, multiple sources familiar with the talks said.
  • Thu, Nov 7 2019
  • 3:28 PM » Exclusive: Rollback of China tariffs faces fierce opposition in White House - sources
    Published Thu, Nov 07 2019 3:28 PM by Reuters
    An agreement between the United States and China to roll back existing tariffs as part of a 'phase one' trade deal faces fierce internal opposition at the White House and from outside advisers, multiple sources familiar with the talks said.
  • 2:10 PM » Bond yields are surging, and the scary recession warning everyone was talking about has gone away
    Published Thu, Nov 07 2019 2:10 PM by CNBC
    The bond market's recession scare is over for now, and the yield curve keeps getting steeper.
  • 2:10 PM » MBA 2020 Economic and Morgage Forecast: Forecasting 0.9% GDP Growth in 2020
    Published Thu, Nov 07 2019 2:10 PM by Calculated Risk Blog
    From the MBA: MBA 2020 Forecast: Purchase Originations to Increase 1.6 Percent to $1.29 Trillion MBA forecasts total mortgage originations will come in around $2.06 trillion this year - the best since 2007 ($2.31 trillion) - before likely decreasing to around $1.89 trillion in 2020. In 2021, MBA expects purchase originations to total around $1.33 trillion, and refinance originations to reach $432 billion ($1.74 trillion total). Mike Fratantoni, MBA's Chief Economist and Senior Vice President for Research and Industry Technology, says geopolitical uncertainty and a slowdown in the global economy combined to be the driving force behind this year's increased financial market volatility and drop in interest rates. He expects these headwinds to continue, which will lead to slower economic growth in the United States next year. "Interest rates will, on average, remain lower for longer given the somewhat cloudy economic outlook. These lower rates will in turn support both purchase and refinance origination volume in 2020," said Fratantoni. "Lower-than-expected mortgage rates gave the refinance market a significant boost this year, resulting in it being the strongest year of volume since 2016. Given the capacity constraints in the industry, some of this refinance activity will spill into the first half of next year." After multiple years of home-price growth above wage gains, several markets in 2019 saw a slight slowdown in price appreciation. Fratantoni expects to see further deceleration in the next few years, as additional housing supply comes on the market. "Moderating price growth is healthy, as it allows household incomes to catch up with home values. This improvement in affordability will lead to more home sales - especially given the rise in household formation and growing demand from first-time homebuyers," said Fratantoni. Here are Fratantoni's economic forecast . Note that he is expecting GDP to slow to 0.9% next year (2020...
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 2:08 PM » Exclusive: Freddie Mac hires McKinsey to review capital as government overhaul begins
    Published Thu, Nov 07 2019 2:08 PM by Reuters
    Housing finance giant Freddie Mac has hired management consultants McKinsey & Company to advise the firm on capital management ahead of a potential exit from government control, a spokesman said Thursday.
  • 2:08 PM » FDIC RESPA Section 8 Settlement Acknowledges Legitimacy of Marketing Arrangements
    Published Thu, Nov 07 2019 2:08 PM by www.consumerfinancemonitor.com
    HomeStreet Bank recently agreed to the issuance of an order to settle an allegation by the FDIC that the bank's discontinued Home Loan Center-based mortgage business line violated the Real Estate Settlement Procedures Act (RESPA) "by entering into co-marketing agreements using online platforms and desk rental agreements that resulted in the payment of fees to... Continue Reading
    Click Here to Read the Full Article

    Source: www.consumerfinancemonitor.com
  • 10:44 AM » Fed's Powell to testify on economy on November 14
    Published Thu, Nov 07 2019 10:44 AM by Reuters
    U.S. Federal Reserve Chair Jerome Powell will testify on the economy before the House Committee on the Budget on November 14, the committee said on Thursday.
  • 10:20 AM » More Americans say now is a bad time to buy a home
    Published Thu, Nov 07 2019 10:20 AM by CNBC
    There was also a drop in the share of people who think now is a good time to sell a home, from 44% to 41%, according to a monthly survey by Fannie Mae.
  • 9:45 AM » Britain's Election Gambleâ€"What You Need to Know
    Published Thu, Nov 07 2019 9:45 AM by Bloomberg
    Britain's Election Gamble-What You Need to Know    Bloomberg
  • 8:28 AM » Luxury Housing Market Stabilized in the Third Quarter After a Weak First Half
    Published Thu, Nov 07 2019 8:28 AM by www.redfin.com
    With sales up and supply down, the luxury market moderated after the first two quarters were marred by nerves about an impending recession. The post Luxury Housing Market Stabilized in the Third Quarter After a Weak First Half appeared first on Redfin Blog .
    Click Here to Read the Full Article

    Source: www.redfin.com
  • 8:04 AM » China says it has agreed with the US to cancel existing trade tariffs in phases
    Published Thu, Nov 07 2019 8:04 AM by CNBC
    China says it has agreed with the US to cancel existing trade tariffs in phases
  • 8:02 AM » U.S. Bond Market Likely to Outperform European Over Time: UBS AM
    Published Thu, Nov 07 2019 8:02 AM by Bloomberg
    U.S. Bond Market Likely to Outperform European Over Time: UBS AM    Bloomberg
  • Wed, Nov 6 2019
  • 3:50 PM » First Look: 2020 Housing Forecasts
    Published Wed, Nov 06 2019 3:50 PM by Calculated Risk Blog
    Towards the end of each year I collect some housing forecasts for the following year.  This is just a beginning (I'll gather many more). The table below shows a few forecasts for 2020: From Fannie Mae: Housing Forecast: October 2019 From Freddie Mac: Freddie Mac October Forecast: Housing Market Remains Strong While Economic Slowdown Looms From NAHB: Economic and Housing Forecasts Note: For comparison, new home sales in 2019 will probably be around 633 thousand, and total housing starts around 1.243 million. Housing Forecasts for 2020 New Home Sales (000s) Single Family Starts (000s) Total Starts (000s) House Prices 1 Fannie Mae 669 903 1,267 1.5% 2 Freddie Mac 2.8% 3 NAHB 629 902 1,286 1 Case-Shiller unless indicated otherwise 2 Median House Prices 3 FHFA Purchase-Only Index 4 NAR Median Prices
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 12:48 PM » Here are your new income tax brackets for 2020
    Published Wed, Nov 06 2019 12:48 PM by CNBC
    The IRS released the federal tax rates and income brackets for 2020. The seven tax rates remain unchanged, while the income limits have been adjusted for inflation.
  • 12:48 PM » Fewer Homeowners Are Burdened by Housing Costs—but There's a Big Catch
    Published Wed, Nov 06 2019 12:48 PM by www.realtor.com
    Owning a home doesn't eat up as much of Americans' income as it did a decade ago, according to Census statistics, but the reason for that is not great. The post Fewer Homeowners Are Burdened by Housing Costs-but There's a Big Catch appeared first on Real Estate News & Insights | realtor.com® .
    Click Here to Read the Full Article

    Source: www.realtor.com
  • 12:47 PM » Treasuries' Top Trade at Risk as Long-Dated Yields Take Flight - Bloomberg
    Published Wed, Nov 06 2019 12:47 PM by Bloomberg
    Treasuries' Top Trade at Risk as Long-Dated Yields Take Flight    Bloomberg
  • 11:59 AM » Exclusive: U.S.-China trade deal signing could be delayed until December: U.S. source
    Published Wed, Nov 06 2019 11:59 AM by Reuters
    A meeting between U.S. President Donald Trump and Chinese President Xi Jinping to sign a long-awaited interim trade deal could be delayed until December as discussions continue over terms and venue, a senior official of the Trump administration told Reuters on Wednesday.
  • 10:32 AM » Fed's Evans: U.S. economy in 'good place,' but watching inflation
    Published Wed, Nov 06 2019 10:32 AM by Reuters
    The U.S. economy is in a good place but the path of inflation will be important in deciding the future path of interest rates, Chicago Federal Reserve President Charles Evans said on Wednesday.
  • 10:10 AM » Explainer: Central bank digital currencies - edging toward reality?
    Published Wed, Nov 06 2019 10:10 AM by Reuters
    Central banks are looking at creating their own digital currencies - a stark contrast to the ethos of cryptocurrencies that seek to subvert mainstream authority over money.
  • 9:36 AM » Las Vegas Real Estate in October: Sales up 7% YoY, Inventory up 6% YoY
    Published Wed, Nov 06 2019 9:36 AM by Calculated Risk Blog
    This is a key former distressed market to follow since Las Vegas saw the largest price decline, following the housing bubble, of any of the Case-Shiller composite 20 cities. The Greater Las Vegas Association of Realtors reported Southern Nevada home prices stall to start fall, though still higher than last year; GLVAR housing statistics for October 2019 The total number of existing local homes, condos and townhomes sold during October was 3,571. Compared to one year ago, October sales were up 7.9% for homes and up 3.5% for condos and townhomes . As for inventory, by the end of October, GLVAR reported 7,210 single-family homes listed for sale without any sort of offer . That's up 4.2% from one year ago. For condos and townhomes, the 1,808 properties listed without offers in October represented a 15.7% increase from one year ago. While the local housing supply has increased over the past year, Carpenter said it's still well below the six-month supply that is considered to be a more balanced market. At the current sales pace, she said Southern Nevada has less than a three-month supply of homes available for sale. ... [T]he number of so-called distressed sales remains near historically low levels. GLVAR reported that short sales and foreclosures combined accounted for just 2.4% of all existing local property sales in October. That compares to 3.0% of all sales one year ago and 5.2% two years ago. emphasis added 1) Overall sales were up 7.1% year-over-year to 3,571 in October 2019 from 3,335 in October 2018. 2) Active inventory (single-family and condos) is up from a year ago, from a total of 8,481 in October 2018 to 9,018 in October 2019. Note: Total inventory was up 6.3% year-over-year. This year-over-year increase is down substantially from earlier this year.  And months of inventory is still low. 3) Low level of distressed sales.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 8:13 AM » Dallas Homebuyers Moving in From L.A.
    Published Wed, Nov 06 2019 8:13 AM by www.builderonline.com
    Dallas Homebuyers Moving in From L.A.
    Click Here to Read the Full Article

    Source: www.builderonline.com
  • 8:06 AM » PennyMac Financial Services Files Antitrust Lawsuit Against Black Knight for Anticompetitive Behavior
    Published Wed, Nov 06 2019 8:06 AM by ir.pennymacfinancial.com
    To view more press releases, please visit http://ir.pennymacfinancial.com/news.aspx?iid=4376176.
    Click Here to Read the Full Article

    Source: ir.pennymacfinancial.com
  • Tue, Nov 5 2019
  • 6:00 PM » Robert Kaplan Says Steeper Yield Curve a Sign Fed Rates Now Appropriate - Bloomberg
    Published Tue, Nov 05 2019 6:00 PM by Bloomberg
    Robert Kaplan Says Steeper Yield Curve a Sign Fed Rates Now Appropriate    Bloomberg
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Mortgage Rates:
  • 30 Yr FRM 3.74%
  • |
  • 15 Yr FRM 3.41%
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  • Jumbo 30 Year Fixed 3.84%
MBS Prices:
  • 30YR FNMA 4.5 105-03 (0-01)
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  • 30YR FNMA 5.0 106-25 (-0-01)
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  • 30YR FNMA 5.5 107-23 (-0-03)
Recent Housing Data:
  • Mortgage Apps 9.58%
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  • Refinance Index 12.93%
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  • Purchase Index 0%