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  • Tue, Jul 3 2018
  • 9:20 AM » Exclusive: China presses Europe for anti-U.S. alliance on trade
    Published Tue, Jul 03 2018 9:20 AM by Reuters
    BRUSSELS/BERLIN (Reuters) - China is putting pressure on the European Union to issue a strong joint statement against President Donald Trump's trade policies at a summit later this month but is facing resistance, European officials said.
  • 8:35 AM » Euro zone consumer sales flat in May, industry prices rise
    Published Tue, Jul 03 2018 8:35 AM by Reuters
    Euro zone consumer sales flat in May, industry prices rise
  • 8:06 AM » Italian Bonds Attract Buyer in Shape of $1.6 Billion Hedge Fund
    Published Tue, Jul 03 2018 8:06 AM by Bloomberg
    Bloomberg Italian Bonds Attract Buyer in Shape of $1.6 Billion Hedge Fund Bloomberg Italy's sovereign bonds, the worst performers in the euro region this year, have found one ally as investors come to terms with the country's first populist government. A hedge fund which oversees about 1.4 billion euros ($1.6 billion) is betting that ...
  • 8:06 AM » Fed Minutes May Offer Clues on Rate-Hike Limits Testing Powell
    Published Tue, Jul 03 2018 8:06 AM by Bloomberg
    Bloomberg Fed Minutes May Offer Clues on Rate-Hike Limits Testing Powell Bloomberg A discussion about how high U.S. interest rates should go in this tightening cycle could feature prominently in the release of minutes later this week of the Federal Reserve's June 12-13 policy meeting. The record may also show officials debated the ... and more »
  • 8:02 AM » Manhattan real estate has worst second quarter since financial crisis
    Published Tue, Jul 03 2018 8:02 AM by CNBC
    A huge pipeline of new condos, a dwindling number foreigner buyers, volatile stock markets and tax changes that make New York less attractive may be hurting Manhattan real estate sales.
  • Mon, Jul 2 2018
  • 5:19 PM » Germany's Merkel Faces Leadership Challenge, Sparked By Migrant Issue
    Published Mon, Jul 02 2018 5:19 PM by www.npr.org
    Conservatives in German Chancellor Angela Merkel's coalition are threatening government stability. NPR's Mary Louise Kelly talks to the Brookings Institution's Constanze Stelzenmüller about the threat.
  • 5:18 PM » One homebuilder is having its worst monthly losing streak, but top technical analyst says buy the dip
    Published Mon, Jul 02 2018 5:18 PM by CNBC
    Homebuilders are on shaky ground this year, but according to one top technician Toll Brothers could be gearing up for a rebound.
  • 1:21 PM » Why the Middle Class Can't Afford Life in America Anymore
    Published Mon, Jul 02 2018 1:21 PM by www.realtor.com
    America's middle class is being wiped out by high cost of living, and some jobs can no longer guarantee a stable enough income to clothe and feed a family. The post Why the Middle Class Can’t Afford Life in America Anymore appeared first on Real Estate News & Insights | realtor.com® .
    Click Here to Read the Full Article

    Source: www.realtor.com
  • 10:38 AM » US Banks Weak Again After Worst Reversal in Nearly Three Years
    Published Mon, Jul 02 2018 10:38 AM by Bloomberg
    Bloomberg US Banks Weak Again After Worst Reversal in Nearly Three Years Bloomberg U.S. financials are still nursing their June hangover. The Financial Select Sector SPDR exchange-traded fund fell as much as 0.9 percent in early trading Monday, with JPMorgan, Bank of America, Citigroup, and Goldman Sachs all lower. The drop follows ... and more »
  • 10:07 AM » ISM manufacturing index hits 60.2 in June; construction spending up 0.4% in May
    Published Mon, Jul 02 2018 10:07 AM by CNBC
    The Institute for Supply Management's index was expected to fall in June.
  • 9:39 AM » Wall Street set to open lower as tariff worries continue to weigh
    Published Mon, Jul 02 2018 9:39 AM by Reuters
    (Reuters) - Wall Street was set to start the first trading day of the second half of this year with declines, as heightening risk of a tariff war between Washington and its trading partners continued to weigh on sentiments.
  • 8:55 AM » Investors beware: Alternative minimum tax can still hit some taxpayers despite reform
    Published Mon, Jul 02 2018 8:55 AM by CNBC
    Despite tax reform, the alternative minimum tax is still not completely dead, and certain investments can trigger it.
  • 8:17 AM » Rents Are Too Damn High: Where Bargains Lurk Within America's Biggest Cities
    Published Mon, Jul 02 2018 8:17 AM by www.realtor.com
    Love city life, but hate pinching pennies? The data team at realtor.com found the neighborhoods in America's biggest metros that boast the lowest rents. The post Rents Are Too Damn High: Where Bargains Lurk Within America’s Biggest Cities appeared first on Real Estate News & Insights | realtor.com® .
    Click Here to Read the Full Article

    Source: www.realtor.com
  • 8:04 AM » Investors, analysts checked the yield curve ... and worry about a slump
    Published Mon, Jul 02 2018 8:04 AM by CNBC
    An inversion of the yield curve - when long-term rates fall below short-term - traditionally indicates a looming recession. The newly appointed Fed Chairman is already facing criticism for increasing that risk.
  • Fri, Jun 29 2018
  • 5:32 PM » Fannie Mae: Mortgage Serious Delinquency rate decreased in May
    Published Fri, Jun 29 2018 5:32 PM by Calculated Risk Blog
    Fannie Mae reported that the Single-Family Serious Delinquency rate decreased to 1.03% in May, down from 1.09% in April. The serious delinquency rate is down from 1.04% in May 2017. These are mortgage loans that are "three monthly payments or more past due or in foreclosure".  The Fannie Mae serious delinquency rate peaked in February 2010 at 5.59%. Click on graph for larger image By vintage , for loans made in 2004 or earlier (3% of portfolio), 3.07% are seriously delinquent. For loans made in 2005 through 2008 (6% of portfolio), 5.72% are seriously delinquent , For recent loans, originated in 2009 through 2018 (91% of portfolio), only 0.44% are seriously delinquent. So Fannie is still working through poor performing loans from the bubble years. The recent increase in the delinquency rate was due to the hurricanes - no worries about the overall market (These are serious delinquencies, so it took three months late to be counted). Following the hurricane bump, the rate will probably decline to 0.5 to 0.7 percent or so to a cycle bottom. Note: Freddie Mac reported earlier.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 5:32 PM » Saving for a house could get you a tax break
    Published Fri, Jun 29 2018 5:32 PM by CNBC
    As home prices rise and affordability becomes more of an issue, some states are offering tax-advantaged accounts for first-time home buyers trying to save up to purchase a house.
  • 3:11 PM » How Monetary Policy Suddenly Became Controversial
    Published Fri, Jun 29 2018 3:11 PM by Bloomberg
    Bloomberg How Monetary Policy Suddenly Became Controversial Bloomberg Last year the Federal Reserve paid about $26 billion in interest on the money banks kept deposited there, up from the zero dollars it paid before the financial crisis a decade ago. For many people, this is a source of distress. The more the Fed pays in ... and more »
  • 3:10 PM » ETF Buyers Go for Shorter-Duration Bonds as the Yield Curve Flattens
    Published Fri, Jun 29 2018 3:10 PM by Bloomberg
    Bloomberg ETF Buyers Go for Shorter-Duration Bonds as the Yield Curve Flattens Bloomberg With the yield curve flattening and the Federal Reserve determined to continue raising interest rates, exchange-traded fund investors have been laying bets on bonds that mature sooner than later. The iShares 0-5 Year Investment Grade Corporate Bond ETF ... and more »
  • 1:29 PM » The Fed has met its inflation target. Now what?
    Published Fri, Jun 29 2018 1:29 PM by CNBC
    For 10 years, the Federal Reserve has stalked its prey - inflation - but has mostly come up empty. Now that it has caught up to its goal, the question is what will happen next, and the answer isn't obvious.
  • 1:15 PM » Earlier: Chicago PMI Increased in June
    Published Fri, Jun 29 2018 1:15 PM by Calculated Risk Blog
    From the Chicago PMI: Chicago Business Barometer Rises to 64.1 in June The MNI Chicago Business Barometer rose 1.4 points to 64.1 in June , up from 62.7 in May, hitting the highest level since January. Business activity expanded at a faster pace in June, with firms' operations up for a third consecutive month. Four of the five Barometer components strengthened on the month, leaving the Barometer up 0.8% on the year. ... This month, two special questions were posed to firms. The first asked whether ongoing trade talks were having an impact on short-term purchasing decisions. Just under a quarter said that they were having a significant impact on business while an additional 39.2% said yes but only to a minimal extent up until now. Just 17.7% said they had been immune to any disruptions, with the remaining 19.6% unsure. The second question asked firms if they had increased starting salaries to attract and secure prospective employees. The majority of firms, at 61.4%, said that had yet to resort to this measure but a fairly sizeable 38.6% said that this was a strategy which they had turned to. "Stronger outturns in May and June left the MNI Chicago Business Barometer broadly unchanged in Q2, running at a pace similar to that seen throughout 2017. While impressive, supply-side frustrations are undermining firms' productive capacity," said Jamie Satchi, Economist at MNI Indicators. " Confusion surrounding the trade landscape continues to breed uncertainty among businesses and their suppliers and has led to many firms' altering their immediate purchasing decisions ," he added. emphasis added This was above the consensus forecast of 60.1, and a strong reading.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 12:59 PM » Trump may nominate top court pick before July 10: White House official
    Published Fri, Jun 29 2018 12:59 PM by Reuters
    WASHINGTON (Reuters) - U.S. President Donald Trump may nominate his pick to replace retiring Supreme Court Justice Anthony Kennedy before Trump leaves for his trip to Europe on July 10, a White House official said on Friday.
  • 12:42 PM » U.S. bond market recession gauge nearer to red signal: Reuters poll
    Published Fri, Jun 29 2018 12:42 PM by Reuters
    U.S. bond market recession gauge nearer to red signal: Reuters poll
  • 12:12 PM » Draghi Warns Risks From Trade War May Be Understated
    Published Fri, Jun 29 2018 12:12 PM by Bloomberg
    Bloomberg Draghi Warns Risks From Trade War May Be Understated Bloomberg European Central Bank President Mario Draghi warned European Union leaders that an escalating trade war between the U.S. and the world's biggest economies may have a larger impact than policy makers and investors currently expect. Rising tensions ... and more »
  • 10:52 AM » More States See Job Gains in May
    Published Fri, Jun 29 2018 10:52 AM by eyeonhousing.org
    According to the Bureau of Labor Statistics, nonfarm payroll employment increased in 43 states and the District of Columbia, and decreased in seven states in May 2018 compared to April 2018. Over the month of April, nonfarm payroll employment increased in 26 states and the District of Columbia, was unchanged in two states, and decreased in 22 states compared to... Read More ›
    Click Here to Read the Full Article

    Source: eyeonhousing.org
  • 10:33 AM » Decisions taken by the Governing Council of the ECB (in addition to decisions setting interest rates)
    Published Fri, Jun 29 2018 10:33 AM by www.ecb.europa.eu
    Decisions taken by the Governing Council of the ECB (in addition to decisions setting interest rates)<br/>https://www.ecb.europa.eu//press/govcdec/otherdec/2018/html/ecb.gc180629.en.html
    Click Here to Read the Full Article

    Source: www.ecb.europa.eu
  • 10:11 AM » Consumer sentiment hits 98.2 in June, vs. expectations for 99.2
    Published Fri, Jun 29 2018 10:11 AM by CNBC
    Consumer sentiment was expected to grow in the final reading of June.
  • 9:22 AM » Forecasts: Residential Refinance & Purchase Lending, 30-Year Conventional Mortgage Rates, Home Sales — June 2018
    Published Fri, Jun 29 2018 9:22 AM by blog.stewart.com
    Fortunately, Fannie Mae, Freddie Mac and the MBA update their quarterly and annual forecasts monthly for residential lending volumes - both refinance and purchase transactions. Driving these lending forecasts is the expectation of future interest rates. Since 2018 is almost one-half over there is not too much deviation in interest rate expectations for the year, … Read more
    Click Here to Read the Full Article

    Source: blog.stewart.com
  • 9:05 AM » Senate Banking Committee to hold July 12 and 19 hearings on Kraninger nomination, credit reporting agencies
    Published Fri, Jun 29 2018 9:05 AM by www.consumerfinancemonitor.com
    Politico has reported that on July 19, the Senate Banking Committee will hold a hearing on President Trump’s nomination of Kathy Kraninger to serve as CFPB Director. While we find this surprising, we continue to believe that she will not be confirmed by the full Senate until after the mid-term elections. Politico also reported that... Continue Reading
    Click Here to Read the Full Article

    Source: www.consumerfinancemonitor.com
  • 8:43 AM » Personal Income increased 0.4% in May, Spending increased 0.2%
    Published Fri, Jun 29 2018 8:43 AM by Calculated Risk Blog
    The BEA released the Personal Income and Outlays report for May: Personal income increased $60.0 billion (0.4 percent) in May according to estimates released today by the Bureau of Economic Analysis. Disposable personal income (DPI) increased $63.2 billion (0.4 percent) and personal consumption expenditures (PCE) increased $27.8 billion (0.2 percent). Real DPI increased 0.2 percent in May and Real PCE decreased less than 0.1 percent. The PCE price index increased 0.2 percent. Excluding food and energy, the PCE price index increased 0.2 percent. The May PCE price index increased 2.3 percent year-over-year (up from 2.0 percent YoY in April) and the May PCE price index, excluding food and energy, increased 2.0 percent year-over-year (up from 1.8 percent YoY in April). The following graph shows real Personal Consumption Expenditures (PCE) through May 2018 (2009 dollars). Note that the y-axis doesn't start at zero to better show the change . Click on graph for larger image. The dashed red lines are the quarterly levels for real PCE. The increase in personal income was at expectations,  and the increase in PCE was below expectations. Using the two-month method to estimate Q2 PCE growth, PCE was increasing at a 3.0% annual rate in Q2 2018.  (using the mid-month method, PCE was increasing 3.4%). This suggests decent PCE growth in Q2, but below expectations.   (Estimates for Q2 GDP will be revised down).
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 8:07 AM » ECB mulls small 'Twist' to keep borrowing costs low: sources
    Published Fri, Jun 29 2018 8:07 AM by Reuters
    FRANKFURT (Reuters) - The European Central Bank is considering buying more long-dated bonds from next year to keep euro zone borrowing costs in check even after it stops pumping fresh money into the economy, sources told Reuters.
  • 8:03 AM » Update on Colorado bank-model lawsuits
    Published Fri, Jun 29 2018 8:03 AM by www.consumerfinancemonitor.com
    In two closely-watched enforcement actions pending in Colorado state court, the Administrator of the Uniform Consumer Credit Code for the State of Colorado is employing the “true lender” theory and the Second Circuit's decision in Madden v. Midland Funding, LLC to challenge two bank-model lending programs. Specifically, the Administrator asserts that the origination of the... Continue Reading
    Click Here to Read the Full Article

    Source: www.consumerfinancemonitor.com
  • 8:03 AM » Deutsche Bank fails Fed stress test while 3 US lenders stumble
    Published Fri, Jun 29 2018 8:03 AM by CNBC
    The Fed also placed conditions on three banks that passed the annual test.
  • Thu, Jun 28 2018
  • 5:02 PM » Zillow Case-Shiller Forecast: Slower House Price Gains in May
    Published Thu, Jun 28 2018 5:02 PM by Calculated Risk Blog
    The Case-Shiller house price indexes for April were released Tuesday. Zillow forecasts Case-Shiller a month early, and I like to check the Zillow forecasts since they have been pretty close. From Aaron Terrazas at Zillow: April Case-Shiller Results and May Forecast: The New Normal In a normal housing market, there is almost always a decently balanced pool of winners and losers. But as severely limited inventory continues to help push up home prices at a rapid clip, it's clear that current housing trends are far from normal - and that there are a lot more losers right now than winners. The U.S. National Case-Shiller Index rose 6.4 percent in April from a year ago, largely in line with expectations. April was the eighth straight month of annual appreciation of 6 percent or higher, and the longest such streak since a stretch of 19 months of breakneck appreciation that began in December 2012 as the housing market began to bounce back in earnest from the depths of the recession. Over the past 30-plus years, dating to January 1988, annual U.S. home price growth as measured by the Case Shiller National Index has averaged 3.8 percent. ... Looking ahead, rapid home value growth may slow somewhat, although not likely by much to make a difference in the underlying trends of high demand and low supply that are driving the market right now. Zillow expects the U.S. National Index to grow by 6.3 percent in May from a year ago, down only slightly from April . The 10- and 20-city indices are likely to slow down further . Full Case-Shiller data for May is scheduled for release Tuesday, July 31. The Zillow forecast is for the year-over-year change for the Case-Shiller National index to be larger in March than in February.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 5:02 PM » Rising Housing Costs Cited as Root Cause of Lagging Homeownership Rate Among Young Adults
    Published Thu, Jun 28 2018 5:02 PM by freddiemac.mwnewsroom.com
    Rising Housing Costs Cited as Root Cause of Lagging Homeownership Rate Among Young Adults
    Click Here to Read the Full Article

    Source: freddiemac.mwnewsroom.com
  • 5:01 PM » Powell Tells Democrats That Fed Is Being Cautious With Hikes
    Published Thu, Jun 28 2018 5:01 PM by Bloomberg
    Bloomberg Powell Tells Democrats That Fed Is Being Cautious With Hikes Bloomberg Federal Reserve Chairman Jerome Powell reiterated to Democrats on the House Ways and Means Committee during a meeting Wednesday that the U.S. central bank is pursuing a patient rate-hike path. While the Fed is sometimes criticized for not raising ... and more »
  • 2:05 PM » In Flip-Flop, Money Managers Now Say S&P 500 Has Seen 2018 Lows
    Published Thu, Jun 28 2018 2:05 PM by Bloomberg
    Bloomberg In Flip-Flop, Money Managers Now Say S&P 500 Has Seen 2018 Lows Bloomberg Money managers are having a change of heart. That's according to a Strategas Research Partners survey of roughly 500 institutional investors, 70 percent of whom now expect the S&P 500 Index to stay above its low of 2,581 reached on Feb. 8. That's a ... and more »
  • 2:04 PM » CFPB ends investigation of Zillow
    Published Thu, Jun 28 2018 2:04 PM by www.consumerfinancemonitor.com
    In a SEC filing dated June 22, 2018, Zillow Group announced that it is no longer under investigation by the CFPB for RESPA and UDAAP compliance with regard to its co-marketing program. Zillow Group had disclosed the existence of the investigation in May 2017. According to the SEC filing, Zillow Group received a letter from... Continue Reading
    Click Here to Read the Full Article

    Source: www.consumerfinancemonitor.com
  • 12:44 PM » Quieting the High-Tech Luxury Home
    Published Thu, Jun 28 2018 12:44 PM by www.realtor.com
    Homeowners today are battling a different kind of noise: the cacophony of pings and dings coming from all the gadgets inside their homes. The post Quieting the High-Tech Luxury Home appeared first on Real Estate News & Insights | realtor.com® .
    Click Here to Read the Full Article

    Source: www.realtor.com
  • 12:43 PM » Global stocks see biggest loss of investor cash since the financial crisis
    Published Thu, Jun 28 2018 12:43 PM by CNBC
    Investor money is hemorrhaging out of global stock funds at a pace not seen since just after the financial crisis exploded. Global equity funds have seen outflows of $12.4 billion in June, a level not seen since October 2008, according to market research firm TrimTabs.
  • 12:03 PM » Hutchins Roundup: Slack and inflation, the gender pay gap in the gig economy, and more
    Published Thu, Jun 28 2018 12:03 PM by webfeeds.brookings.edu
    Studies in this week's Hutchins Roundup find that the lack of inflation despite falling unemployment does not reflect poorly measured slack, there is a gender pay gap in the gig economy, and more. Want to receive the Hutchins Roundup as an email? Sign up here to get it in your inbox every Thursday. The lack…                
    Click Here to Read the Full Article

    Source: webfeeds.brookings.edu
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More From MND

Mortgage Rates:
  • 30 Yr FRM 4.64%
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  • 15 Yr FRM 4.13%
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  • Jumbo 30 Year Fixed 4.54%
MBS Prices:
  • 30YR FNMA 4.5 104-01 (-0-01)
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  • 30YR FNMA 5.0 105-23 (-0-01)
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  • 30YR FNMA 5.5 106-29 (-0-02)
Recent Housing Data:
  • Mortgage Apps -2.60%
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  • Refinance Index -3.69%
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  • Purchase Index -1.98%