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  • Fri, Feb 8 2019
  • 11:36 AM » Powell's Clues, Year of the Dove, Shifting BOE Outlook: Eco Day
    Published Fri, Feb 08 2019 11:36 AM by Bloomberg
    Powell's Clues, Year of the Dove, Shifting BOE Outlook: Eco Day    Bloomberg Good morning Americas. Here's the latest news and analysis from Bloomberg Economics to help round off your week:
  • 10:48 AM » To guide or not to guide? Fed 'dots' complicate message
    Published Fri, Feb 08 2019 10:48 AM by Reuters
    U.S. central bankers say clear communication is important, with economic research showing that if the public understands what the Federal Reserve is doing, monetary policy works better and the economy does better.
  • 10:33 AM » Seattle Real Estate in January: Sales Unchanged YoY, Inventory up 168% YoY from Low Levels
    Published Fri, Feb 08 2019 10:33 AM by Calculated Risk Blog
    The Northwest Multiple Listing Service reported Homebuyers resuming search amid improving inventory, attractive terms KIRKLAND, Washington (February 7, 2019) - Home buyers around Washington state are making their way back to the market, hoping to take advantage of improving inventory, attractive interest rates, and more approachable sellers, according to officials with Northwest Multiple Listing Service. Northwest MLS statistics for January show year-over-year improvement in the volume of new listings and total inventory, along with moderating selling prices. Although fewer pending sales (mutually accepted offers) were reported than a year ago (down about 3.3 percent), January was the smallest year-over-year decline since May 2018 when the drop was about 2.7 percent. Commenting on the MLS statistics summarizing last month's activity, broker Gary O'Leyar said January's post-holiday real estate activity doesn't normally pick up until later in the month, but this year the uptick began early. "January started as a bit of a surprise. Open house activity was very robust, and we saw multiple offers in numerous instances again," reported O'Leyar, the owner of Berkshire Hathaway HomeServices Signature Properties in Seattle. MLS members added 7,090 new listings of single family homes and condos during January, up from the year-ago figure of 6,805 and nearly doubling December's total of 3,631. At month end there were 11,687 active listings in the database, up more than 45 percent from the year-ago total of 8,037 . Listing inventory more than doubled in both King and Snohomish counties. emphasis added The press release is for the Northwest. In King County, sales were down 3.7% year-over-year, and active inventory was up 144% year-over-year. In Seattle, sales were unchanged year-over-year, and inventory was up 168% year-over-year from very low levels .  This is another market with inventory increasing sharply year-over-year, but months-of...
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 9:40 AM » Wells Fargo says it is working to fully restore systems as outage spills into day two
    Published Fri, Feb 08 2019 9:40 AM by CNBC
    The San Francisco bank said mobile and online banking systems were operational except for some features such as consumer credit card and mortgage balances.
  • 8:58 AM » The US and China don't even have a trade deal draft yet as deadline approaches
    Published Fri, Feb 08 2019 8:58 AM by CNBC
    The Journal said the two sides have not even drafted an accord specifying the matters they agree and disagree on.
  • 8:32 AM » Single Women Own More Homes Than Single Men in Hampton Roads (and Everywhere Else)
    Published Fri, Feb 08 2019 8:32 AM by www.builderonline.com
    Single Women Own More Homes Than Single Men in Hampton Roads (and Everywhere Else)
    Click Here to Read the Full Article

    Source: www.builderonline.com
  • 8:04 AM » It's the Year of the Dove for Central Banks Hewing to Fed Script
    Published Fri, Feb 08 2019 8:04 AM by Bloomberg
    It's the Year of the Dove for Central Banks Hewing to Fed Script    Bloomberg The Federal Reserve's dovish turn is being followed worldwide as policy makers across the globe take a breather from raising interest rates amid slowing ...
  • 8:03 AM » Fannie-Freddie Watchdog Gets More Cautious on Firms' Release
    Published Fri, Feb 08 2019 8:03 AM by Bloomberg
    Fannie-Freddie Watchdog Gets More Cautious on Firms' Release    Bloomberg Fannie Mae and Freddie Mac's regulator appears to have learned that it's best to be careful when making comments about freeing the mortgage giants from ...
  • 8:02 AM » At Least Half of Homes ‘Seriously Underwater' in These Zip Codes
    Published Fri, Feb 08 2019 8:02 AM by Bloomberg
    At Least Half of Homes 'Seriously Underwater' in These Zip Codes    Bloomberg A decade after the recession, more than one in 11 mortgaged properties in the U.S. is considered "seriously underwater," according to the year-end home equity ...
  • Thu, Feb 7 2019
  • 5:33 PM » Rent Relief: Pros and Cons of a Housing Affordability Policy Proposed by Two 2020 Presidential Candidates
    Published Thu, Feb 07 2019 5:33 PM by www.redfin.com
    In the first in a series of blog posts examining candidates' housing policies, Redfin chief economist Daryl Fairweather breaks down rent relief, put forward by both Kamala Harris and Cory Booker What is rent relief? Two of the latest Democrats to announce they are running for president have advocated for rent relief. Kamala Harris and […] The post Rent Relief: Pros and Cons of a Housing Affordability Policy Proposed by Two 2020 Presidential Candidates appeared first on Redfin Real-Time .
    Click Here to Read the Full Article

    Source: www.redfin.com
  • 3:37 PM » Wall Street slides on renewed U.S.-China trade fears
    Published Thu, Feb 07 2019 3:37 PM by Reuters
    Wall Street stocks sank more than 1 percent on Thursday as worries that the United States and China would not be able to reach a trade deal intensified earlier concerns about slowing global economic growth.
  • 1:38 PM » Trump, Xi unlikely to meet before March 1 trade deadline: U.S. officials
    Published Thu, Feb 07 2019 1:38 PM by Reuters
    U.S. President Donald Trump and Chinese President Xi Jinping are unlikely to meet before their countries' March 1 deadline to reach a trade deal, two U.S. administration officials and a source familiar with the negotiations said on Thursday.
  • 1:38 PM » BB&T Solves Jamie Dimon's ‘Too Many Banks' Problem
    Published Thu, Feb 07 2019 1:38 PM by Bloomberg
    BB&T Solves Jamie Dimon's 'Too Many Banks' Problem    Bloomberg The rationale for its combination with SunTrust is clear, but the gap to the biggest finance giants remains wide.
  • 11:45 AM » CFPB enters into settlement with payday retail lender
    Published Thu, Feb 07 2019 11:45 AM by www.consumerfinancemonitor.com
    The CFPB announced that it has entered into a settlement with the owners of payday loan retail outlets that operated under the name "Cash Tyme" in seven states to resolve alleged violations of the Consumer Financial Protection Act, the Gramm-Leach-Bliley Act/ Regulation P, and the Truth in Lending Act/ Regulation Z. The consent order requires... Continue Reading
    Click Here to Read the Full Article

    Source: www.consumerfinancemonitor.com
  • 11:15 AM » Kudlow: There's 'a pretty sizable difference' before a China trade deal happens
    Published Thu, Feb 07 2019 11:15 AM by CNBC
    The comments coincided with a sharp drop in the stock market that sent the Dow industrials down more than 200 points.
  • 10:13 AM » Home Buyers' Perceptions on Affordability Are Largely Unchanged
    Published Thu, Feb 07 2019 10:13 AM by eyeonhousing.org
    In addition to analyzing buyers' perceptions about housing availability, the quarterly Housing Trends Report (HTR) also explores perceptions about housing affordability. The poll asks prospective home buyers to estimate the share of homes available in their markets they believe they can afford. In the final quarter of 2018, three out of every four buyers (76%) estimate they can afford fewer than... Read More ›
    Click Here to Read the Full Article

    Source: eyeonhousing.org
  • 9:23 AM » EU Slashes Growth Forecasts and Warns Over Brexit, China
    Published Thu, Feb 07 2019 9:23 AM by Bloomberg
    The European Commission slashed its growth forecasts for all the euro region's major economies from Germany to Italy and warned that Brexit and the slowdown in China threaten to make the outlook even worse.
  • 9:22 AM » Brexit Turmoil Leaves EU Struggling to Calibrate U.K. Outlook
    Published Thu, Feb 07 2019 9:22 AM by Bloomberg
    Brexit Turmoil Leaves EU Struggling to Calibrate U.K. Outlook    Bloomberg With 50 days to go until Britain leaves the EU and still no clarity on future trading arrangements with the bloc, European Commission forecasters have joined the ...
  • 8:54 AM » U.S. weekly jobless claims fall from one-and-a-half-year high
    Published Thu, Feb 07 2019 8:54 AM by Reuters
    The number of Americans filing applications for unemployment benefits dropped from near a 1-1/2-year high last week, pointing to continued labor market strength.
  • 8:05 AM » US Treasury yields move lower as investors monitor Fed speeches
    Published Thu, Feb 07 2019 8:05 AM by CNBC
    US Treasury yields move lower as investors monitor Fed speeches|| 105724685
  • 8:05 AM » Fed's Powell Says Economy in `Good Place' With Low Unemployment
    Published Thu, Feb 07 2019 8:05 AM by Bloomberg
    Fed's Powell Says Economy in `Good Place' With Low Unemployment    Bloomberg Federal Reserve Chairman Jerome Powell gave a brief but positive assessment of the economy at an event organized for educators.
  • 8:03 AM » BB&T to buy SunTrust in biggest bank deal since 2009
    Published Thu, Feb 07 2019 8:03 AM by Reuters
    BB&T Corp will buy SunTrust Banks Inc for about $28 billion in an all-stock deal, the companies said on Thursday, creating the sixth largest U.S. lender in the biggest bank deal since the 2007-2009 financial crisis.
  • Wed, Feb 6 2019
  • 2:59 PM » Janet Yellen says global slowdown in places like China and Europe is a growing threat to US
    Published Wed, Feb 06 2019 2:59 PM by CNBC
    The former Fed chief made the comments on CNBC's "Power Lunch" on Wednesday.
  • 1:26 PM » Seniors Are to Blame for Housing Shortage, Study Finds
    Published Wed, Feb 06 2019 1:26 PM by www.realtor.com
    Millions of seniors are staying in their homes longer than predecessors in earlier generations, making it more harder for younger Americans to buy a home. The post Seniors Are to Blame for Housing Shortage, Study Finds appeared first on Real Estate News & Insights | realtor.com® .
    Click Here to Read the Full Article

    Source: www.realtor.com
  • 11:56 AM » Sales of $2 Million-Plus Homes Decline for First Time in 2 Years as Prices Tick Up
    Published Wed, Feb 06 2019 11:56 AM by www.redfin.com
    Volatility on Wall Street and global economic uncertainty may have contributed to a decline in high-priced home sales in the luxury market. The average sale price for luxury homes nationwide rose 4.7 percent annually to an average of $1,772,000 in the fourth quarter of 2018. That's on par with the annual growth seen in the […] The post Sales of $2 Million-Plus Homes Decline for First Time in 2 Years as Prices Tick Up appeared first on Redfin Real-Time .
    Click Here to Read the Full Article

    Source: www.redfin.com
  • 11:29 AM » Las Vegas Real Estate in January: Sales Down 18% YoY, Inventory up 106% YoY
    Published Wed, Feb 06 2019 11:29 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 bounce back to $300,000; GLVAR housing statistics for January 2019 Local home prices bounced back to the $300,000 mark for the first time since September while fewer properties changed hands and more homes were on the market than one year ago. So says a report released Wednesday by the Greater Las Vegas Association of REALTORS® (GLVAR) covering activity in the local housing market through January. ... The total number of existing local homes, condos and townhomes sold during January was 2,305. Compared to one year ago, January sales were down 19.4 percent for homes and down 12.5 percent for condos and townhomes. GLVAR reported a total of 42,876 property sales in 2018, down from 45,388 in all of 2017, so Carpenter expects sales numbers may continue to slip this year. ... With nearly a four-month supply of homes now available for sale, she said the number of local homes listed for sale without offers on them has been increasing for several months. However, she said that is still below what would normally be considered a balanced market. By the end of January, GLVAR reported 7,254 single-family homes listed for sale without any sort of offer. That's up 95.1 percent from one year ago. For condos and townhomes, the 1,703 properties listed without offers in January represented a 168.6 percent jump from one year ago . ... The number of so-called distressed sales also continues to drop each year. GLVAR reported that short sales and foreclosures combined accounted for just 2.8 percent of all existing local property sales in January. That's down from 4.3 percent of all sales one year ago and 11 percent two years ago. emphasis added 1) Overall sales were down 18% year-over-year from 2,812 in January 2018...
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 10:23 AM » Permit Growth Flat in November
    Published Wed, Feb 06 2019 10:23 AM by eyeonhousing.org
    Over the first eleven months of 2018, the total number of single-family permits issued year-to-date (YTD) nationwide reached 799,679. On a year-over-year basis, this is a 5.1% increase over the November 2017 level of 761,229. The preliminary results from the New Residential Construction Survey are similar, year-to-date single-family permits over the first eleven months of 2018 was, 800,000 which is... Read More ›
    Click Here to Read the Full Article

    Source: eyeonhousing.org
  • 9:14 AM » Mnuchin says Fed Chief Powell gave Trump an overview of the economy at White House dinner
    Published Wed, Feb 06 2019 9:14 AM by CNBC
    Federal Reserve Chairman Jay Powell's dinner with President Donald Trump at the White House last week was "very casual," Treasury Secretary Steven Mnuchin said on Wednesday.
  • 9:10 AM » U.S. trade deficit falls sharply in November
    Published Wed, Feb 06 2019 9:10 AM by Reuters
    The U.S. trade deficit narrowed sharply in November amid declines in imports of cellphones and petroleum products.
  • 8:02 AM » Investors are buying stocks and bonds at the same time, which means something has to give
    Published Wed, Feb 06 2019 8:02 AM by CNBC
    Investors are buying into the riskiness of stocks, but they're also buying the security of the bond market. That's not the usual course for markets, but it has happened before.
  • 8:02 AM » US Treasury yields move lower as investors monitor Fed speeches, auctions
    Published Wed, Feb 06 2019 8:02 AM by CNBC
    U.S. government debt prices were higher on Monday morning, as market participants awaited speeches from two prominent Federal Reserve policymakers.
  • Tue, Feb 5 2019
  • 5:01 PM » Fed's Kaplan Urges No Further Rate Action Until Outlook Clearer
    Published Tue, Feb 05 2019 5:01 PM by Bloomberg
    Fed's Kaplan Urges No Further Rate Action Until Outlook Clearer    Bloomberg Federal Reserve Bank of Dallas President Robert Kaplan said he's waiting on clarity about the U.S. economic outlook before supporting further moves on ...
  • 5:01 PM » U.S. Retail Sales Seen Slowing This Year as Economy Cools Off
    Published Tue, Feb 05 2019 5:01 PM by Bloomberg
    U.S. Retail Sales Seen Slowing This Year as Economy Cools Off    Bloomberg Retail sales growth in the U.S. is expected to slow down in 2019 amid cooling economic conditions, according to the National Retail Federation, an industry ...
  • 1:18 PM » Luxury House Flipping Is on the Rise, but Still Lower Than Before the Recession
    Published Tue, Feb 05 2019 1:18 PM by www.realtor.com
    Luxury house flipping has increased throughout the U.S. In 2018, 2.6% of homes valued at over $1 million were flipped, compared to 2.2% the previous year. The post Luxury House Flipping Is on the Rise, but Still Lower Than Before the Recession appeared first on Real Estate News & Insights | realtor.com® .
    Click Here to Read the Full Article

    Source: www.realtor.com
  • 1:10 PM » The state of housing demand is suddenly good again – but it could be temporary
    Published Tue, Feb 05 2019 1:10 PM by CNBC
    After ending 2018 in a serious slump, demand for housing is suddenly soaring again, thanks to a drop in mortgage rates which could be temporary. Still, spring has sprung early, as buyers hope to get a quick deal before rates turn higher again.
  • 11:32 AM » Lifeless Treasury Market Needs a Jolt From Pile of Parked Cash
    Published Tue, Feb 05 2019 11:32 AM by Bloomberg
    Lifeless Treasury Market Needs a Jolt From Pile of Parked Cash    Bloomberg Across U.S. interest-rate products -- from cash Treasuries to futures to eurodollar options -- indications abound that conviction is in short supply. With the Federal ...
  • 10:22 AM » ISM Non-Manufacturing Index decreased to 56.7% in January
    Published Tue, Feb 05 2019 10:22 AM by Calculated Risk Blog
    The January ISM Non-manufacturing index was at 56.7%, down from 58.0% in December. The employment index increased in January to 57.8%, from 56.6%. Note: Above 50 indicates expansion, below 50 contraction. From the Institute for Supply Management: January 2019 Non-Manufacturing ISM Report On Business® Economic activity in the non-manufacturing sector grew in January for the 108th consecutive month, say the nation's purchasing and supply executives in the latest Non-Manufacturing ISM® Report On Business®. The report was issued today by Anthony Nieves, CPSM, C.P.M., A.P.P., CFPM, Chair of the Institute for Supply Management® (ISM®) Non-Manufacturing Business Survey Committee: " The NMI® registered 56.7 percent , which is 1.3 percentage points lower than the December reading of 58 percent. This represents continued growth in the non-manufacturing sector, at a slower rate. The Non-Manufacturing Business Activity Index decreased to 59.7 percent, 1.5 percentage points lower than the December reading of 61.2 percent, reflecting growth for the 114th consecutive month, at a slower rate in January. The New Orders Index registered 57.7 percent, 5 percentage points lower than the reading of 62.7 percent in December. The Employment Index increased 1.2 percentage points in January to 57.8 percent from the December reading of 56.6 percent . The Prices Index increased 1.4 percentage points from the December reading of 58 percent to 59.4 percent, indicating that prices increased in January for the 20th consecutive month. According to the NMI®, 11 non-manufacturing industries reported growth. The non-manufacturing sector's growth rate cooled off in January. Respondents are concerned about the impacts of the government shutdown but remain mostly optimistic about overall business conditions." emphasis added Click on graph for larger image. This graph shows the ISM non-manufacturing index (started in January 2008) and the ISM non-manufacturing...
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 10:03 AM » Share of Buyers Expecting an Easier House Search Drops from 27% to 19% in a Year
    Published Tue, Feb 05 2019 10:03 AM by eyeonhousing.org
    In the last quarter of 2017, 27% of prospective home buyers expected the search for a home to get easier in the months ahead. Fast forward a year to the final quarter of 2018, and that share falls to 19%. Logically, if fewer buyers think house hunting is getting easier, then a growing share must feel it is getting harder... Read More ›
    Click Here to Read the Full Article

    Source: eyeonhousing.org
  • 9:52 AM » The Fed's next rate move is more likely a cut than a hike: Economist Mohamed El-Erian
    Published Tue, Feb 05 2019 9:52 AM by CNBC
    The Fed is likely to hold interest rates steady for the entire year after hiking four times in 2018, predicts the Allianz chief economic advisor.
  • 9:23 AM » CoreLogic: House Prices up 4.7% Year-over-year in December
    Published Tue, Feb 05 2019 9:23 AM by Calculated Risk Blog
    Notes: This CoreLogic House Price Index report is for December . The recent Case-Shiller index release was for November. The CoreLogic HPI is a three month weighted average and is not seasonally adjusted (NSA). From CoreLogic: CoreLogic Reports December Home Prices Increased by 4.7 Percent Year Over Year CoreLogic® ... today released the CoreLogic Home Price Index (HPI™) and HPI Forecast™ for December 2018, which shows home prices rose both year over year and month over month. Home prices increased nationally by 4.7 percent year over year from December 2017 . On a month-over-month basis, prices increased by 0.1 percent in December 2018. (November 2018 data was revised. Revisions with public records data are standard, and to ensure accuracy, CoreLogic incorporates the newly released public data to provide updated results each month.) Looking ahead, the CoreLogic HPI Forecast indicates home prices will increase by 4.6 percent on a year-over-year basis from December 2018 to December 2019. Comparing the annual average HPI and HPI forecast for 2018 and 2019, average price growth is forecasted to slow from 5.8 percent to 3.4 percent. On a month-over-month basis, home prices are expected to decrease by 1 percent from December 2018 to January 2019. The CoreLogic HPI Forecast is a projection of home prices calculated using the CoreLogic HPI and other economic variables. Values are derived from state-level forecasts by weighting indices according to the number of owner-occupied households for each state. "Higher mortgage rates slowed home sales and price growth during the second half of 2018," said Dr. Frank Nothaft, chief economist for CoreLogic. "Annual price growth peaked in March and averaged 6.4 percent during the first six months of the year. In the second half of 2018, growth moderated to 5.2 percent. For 2019, we are forecasting an average annual price growth of 3.4 percent." emphasis added CR Note: The CoreLogic YoY increase had been in the 5...
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
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Mortgage Rates:
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Recent Housing Data:
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