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  • Wed, Oct 4 2017
  • 10:19 AM » Jeffrey Gundlach Predicts Neel Kashkari Will Be Next Fed Chair
    Published Wed, Oct 04 2017 10:19 AM by Bloomberg
    Jeffrey Gundlach Predicts Neel Kashkari Will Be Next Fed Chair Bloomberg Jeffrey Gundlach, the money manager who predicted the presidential election of Donald Trump when few saw it coming, has a new surprise call: Neel Kashkari will be the next chairman of the Federal Reserve. Gundlach, speaking Tuesday at a Vanity Fair ... and more »
  • 10:14 AM » ISM Non-Manufacturing Index increased to 59.8% in September
    Published Wed, Oct 04 2017 10:14 AM by Calculated Risk Blog
    The September ISM Non-manufacturing index was at 59.8%, up from 55.3% in August. The employment index increased in September to 56.8%, from 56.2%. Note: Above 50 indicates expansion, below 50 contraction. From the Institute for Supply Management: September 2017 Non-Manufacturing ISM Report On Business® Economic activity in the non-manufacturing sector grew in September for the 93rd 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 59.8 percent , which is 4.5 percentage points higher than the August reading of 55.3 percent. This represents continued growth in the non-manufacturing sector at a faster rate. This is the highest reading since August 2005 when the index registered 61.3 percent. The Non-Manufacturing Business Activity Index increased to 61.3 percent, 3.8 percentage points higher than the August reading of 57.5 percent, reflecting growth for the 98th consecutive month, at a faster rate in September. The New Orders Index registered 63 percent, 5.9 percentage points higher than the reading of 57.1 percent in August. The Employment Index increased 0.6 percentage point in September to 56.8 percent from the August reading of 56.2 percent. The Prices Index increased substantially by 8.4 percentage points from the August reading of 57.9 percent to 66.3 percent, indicating prices increased in September for the fourth consecutive month. This is the highest reading since February 2012 when the index registered 67.6 percent. According to the NMI®, 15 non-manufacturing industries reported growth. The non-manufacturing sector has reflected strong growth in the month of September despite the impact on the supply chain from the recent hurricanes. Respondents'...
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 9:39 AM » Wells Fargo to refund mortgage rate lock extension fees that were charged inappropriately
    Published Wed, Oct 04 2017 9:39 AM by Market Watch
    Wells Fargo & Co. said it plans to refund mortgage rate lock extension fees that were inappropriately charged during the period from Sept. 16, 2013 through Feb. 28, 2017. The planned refunds follows an internal review that determined some borrowers were charged fees, although the bank was primarily responsible for delays that made the extensions necessary. Wells said a total of $98 million in rate lock extension fees were assessed to 110,000 borrowers, although a "substantial number" of those were believed to be appropriately charged. The announcement comes as Wells Chief Executive Tim Sloan faced a Congressional hearing over a massive scandal that incentivized opening accounts fraudulently. The stock slumped 0.7% in premarket trade. It had gained 0.9% year to date through Tuesday, while the SPDR Financial Select Sector ETF had rallied 12.6% and the S&P 500 had climbed 13.2%.
  • 9:21 AM » Hurricanes could knock 50,000 jobs off Friday's government data, says Barclays economist
    Published Wed, Oct 04 2017 9:21 AM by CNBC
    "The Fed has already signaled the data is going to be noisy and they expect some weakness," Michael Gapen says.
  • 9:21 AM » Bond Report: Treasury yields retreat as global stocks turn lower, dollar softens
    Published Wed, Oct 04 2017 9:21 AM by Market Watch
    Treasury prices rise on Wednesday, pressuring yields, as the market awaited a late-afternoon speech from Federal Reserve Chairwoman Janet Yellen, which could offer market participants further guidance on the path of monetary policy.
  • 8:14 AM » Even Bond Traders Are Starting to Hate Bonds
    Published Wed, Oct 04 2017 8:14 AM by Bloomberg
    Bloomberg The Daily Prophet: Even Bond Traders Are Starting to Hate Bonds Bloomberg Betting against bonds has probably been the ultimate "pain trade" in markets in recent years despite a chorus of warnings from so-called experts that record low interest rates and yields have nowhere to go except higher. But now there are signs that ... and more »
  • 8:13 AM » Amazon Presents a Prime Opportunity to Transform a City's Housing Market—but Where?
    Published Wed, Oct 04 2017 8:13 AM by www.realtor.com
    how-amazon-HQ-will-transform-housing-market The post Amazon Presents a Prime Opportunity to Transform a City’s Housing Market-but Where? appeared first on Real Estate News & Insights | realtor.com® .
    Click Here to Read the Full Article

    Source: www.realtor.com
  • 8:13 AM » US Treasurys higher as investors await Yellen's remarks, data
    Published Wed, Oct 04 2017 8:13 AM by CNBC
    U.S. government debt prices were higher Wednesday as investors switched their focus to the latest comments coming out of the U.S. Federal Reserve.
  • Tue, Oct 3 2017
  • 2:22 PM » Net shorts on U.S. longer-dated bonds hit record high -JPMorgan
    Published Tue, Oct 03 2017 2:22 PM by Reuters
    NEW YORK, Oct 3 (Reuters) - The margin of investors who said they had fewer longer-dated Treasuries than their benchmarks over those who held more longer-dated bonds than their benchmarks rose to a record high, JPMorgan Chase & Co's latest client survey showed on Tuesday. Investors have reduced their bond holdings in recent days after Federal Reserve Chair Janet Yellen said last week the U.S. central bank remains on its gradual rate hike path even as inflation has been stuck below its 2-percent goal, analysts said.
  • 1:39 PM » Former Equifax chief apologizes to Congress over hack
    Published Tue, Oct 03 2017 1:39 PM by Reuters
    WASHINGTON (Reuters) - The former head of Equifax Inc apologized repeatedly on Tuesday at a congressional hearing for the theft of millions of people's personal data in a hacking breach, saying it took weeks for the credit bureau to understand the extent of the intrusion.
  • 1:38 PM » Wells Fargo CEO defends leadership in heated Senate appearance
    Published Tue, Oct 03 2017 1:38 PM by Reuters
    (Reuters) - U.S. senators grilled Wells Fargo & Co Chief Executive Tim Sloan on Tuesday about what he had done to change the bank's culture after a sales practices scandal erupted last year, with one senior Democratic lawmaker calling for his ouster.
  • 12:25 PM » The Fed: Jerome Powell, in the running for top Fed spot, echoes one of Trump's favorite economic themes
    Published Tue, Oct 03 2017 12:25 PM by Market Watch
    Fed Gov. Jerome Powell, who is in the running for the top job at the central bank, sounded one of President Donald Trump's favorite economic themes in a public appearance Tuesday.
  • 12:07 PM » Rising heat in home prices makes buyers rush to riskier mortgages
    Published Tue, Oct 03 2017 12:07 PM by CNBC
    The gains in home prices are getting bigger again, and that has more potential buyers looking for ways to afford the monthly payment.
  • 10:55 AM » Manhattan Resale Home Prices Set a Record, Even After Discounts
    Published Tue, Oct 03 2017 10:55 AM by Bloomberg
    Bloomberg Manhattan Resale Home Prices Set a Record, Even After Discounts Bloomberg The price of Manhattan resale homes hit a record in the third quarter, but sellers shouldn't get too bullish. It took some discounting to get there. Owners pared an average of 6.8 percent off their asking prices in the quarter -- the second-most since ... and more »
  • 10:13 AM » Residential Fixed Investment Slows in Second Quarter
    Published Tue, Oct 03 2017 10:13 AM by eyeonhousing.org
    The final estimate of second quarter 2017 GDP growth (revised up two-tenths of a percentage point to 1.4%), shows that housing's share of gross domestic product (GDP) declined from 15.6% to 15.5%. Likewise, the home building and remodeling component-residential fixed investment (RFI)-fell 0.1 percentage point to 3.5% as a share of GDP. The slower second-quarter growth of RFI subtracted 0.3 percentage point... Read More ›
    Click Here to Read the Full Article

    Source: eyeonhousing.org
  • 9:50 AM » Bond Report: Treasury yields continue rise as Trump tax cut returns to agenda
    Published Tue, Oct 03 2017 9:50 AM by Market Watch
    Treasury prices fell, lifting yields, on early Tuesday after investors turned their attention again back to Trump's tax reform which could add pressure for the Federal Reserve to raise rates.
  • 9:25 AM » Lot Size is at a New Record Low
    Published Tue, Oct 03 2017 9:25 AM by eyeonhousing.org
    The median lot size of a new single-family detached home sold in 2016 stands at 8,562 square feet, or just under one-fifth of an acre. This is a new record low and a small decline since 2015, when the median lot size fell under 8,600 square feet for the first time since Census Bureau's Survey of Construction (SOC) started tracking... Read More ›
    Click Here to Read the Full Article

    Source: eyeonhousing.org
  • 8:34 AM » Fed's Yellen says AIG's threat to stability is reduced after downsizing
    Published Tue, Oct 03 2017 8:34 AM by Reuters
    WASHINGTON (Reuters) - American International Group Inc poses less of a threat to financial stability because it shrank its assets by more than $500 billion, Federal Reserve Chair Janet Yellen said on Monday in explaining why she voted in favor of releasing the company from stricter oversight.
  • 8:33 AM » Homebuilder Lennar's third-quarter profit rises 5.6 percent
    Published Tue, Oct 03 2017 8:33 AM by CNBC
    U.S. homebuilder Lennar reported a 5.6 percent rise in quarterly profit on Tuesday, driven by an increase in home sales and higher prices.
  • 8:15 AM » Consumer lending, insurance issues to weigh on Wells' CEO's Senate appearance on Tuesday
    Published Tue, Oct 03 2017 8:15 AM by Reuters
    (Reuters) - Wells Fargo & Co CEO Tim Sloan will be questioned about sales practices, mischarging customers for auto insurance, and complaints about mortgage fees at the bank's consumer lending unit when he testifies before U.S. senators on Tuesday.
  • 8:14 AM » CoreLogic US Home Price Report Shows Prices Up 6.9 Percent in August 2017
    Published Tue, Oct 03 2017 8:14 AM by www.corelogic.com
    National Home Prices Projected to Increase 4.7 Percent by August 2018 Utah and Washington Continue to Post Double-Digit Annual Home Price Increases Las Vegas Home Prices Increase 8.4 Percent Year Over Year, Highest Among Large Metros CoreLogic ® (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, today released its CoreLogic Home Price Index (HPI ™ ) and HPI Forecast ™ for August 2017, which shows home prices are up strongly both year over year and month over month. Home prices nationally increased year over year by 6.9 percent from August 2016 to August 2017, and on a month-over-month basis, home prices increased by 0.9 percent in August 2017 compared with July 2017 ,* according to the CoreLogic HPI. Looking ahead, the CoreLogic HPI Forecast indicates that home prices will increase by 4.7 percent on a year-over-year basis from August 2017 to August 2018, and on a month-over-month basis home prices are expected to increase by 0.1 percent from August 2017 to September 2017. The CoreLogic HPI Forecast is a projection of home prices 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. "While growth in home sales has stalled due to a lack of inventory during the last few months, the tight inventory has actually helped stabilize price growth," said Dr. Frank Nothaft, chief economist for CoreLogic. "Over the last three years, price growth in the CoreLogic national index has been between 5 percent and 7 percent per year, and CoreLogic expects home prices to increase about 5 percent by this time next year." In an analysis of the country’s 100 largest metropolitan areas based on housing stock, 34 percent of cities have an overvalued housing stock as of August 2017, according to CoreLogic Market Conditions Indicators (MCI...
    Click Here to Read the Full Article

    Source: www.corelogic.com
  • Mon, Oct 2 2017
  • 4:14 PM » Fastest and Slowest Growing Cities
    Published Mon, Oct 02 2017 4:14 PM by www.realtor.com
    Four Lone Star State cities, from little to large, were among the 10 fastest-growing cities economically in the nation, according to a recent report from WalletHub. The post Do You Live in the Fastest-Growing City, or the Slowest? appeared first on Real Estate News & Insights | realtor.com® .
    Click Here to Read the Full Article

    Source: www.realtor.com
  • 4:13 PM » Invitation Homes Suffers Millions in Damage from Hurricane Irma
    Published Mon, Oct 02 2017 4:13 PM by www.builderonline.com
    Company estimates 30% of homes in Florida and Atlanta had some damage and puts the cost at $41-$17 million.
    Click Here to Read the Full Article

    Source: www.builderonline.com
  • 4:13 PM » Homebuilder to help young people pay student loans and buy a home—but is it a good idea?
    Published Mon, Oct 02 2017 4:13 PM by CNBC
    Lennar wants to get millennials out of debt and into their own place.
  • 1:16 PM » Manhattan Condos Are Barely Yielding More Than Government Treasuries
    Published Mon, Oct 02 2017 1:16 PM by Bloomberg
    Bloomberg Manhattan Condos Are Barely Yielding More Than Government Treasuries Bloomberg Manhattan condo buyers who rent out their apartments are getting little more yield than they would with government debt. Newly purchased condos that were listed for lease in the second quarter brought their owners a median return of 2.5 percent ... and more »
  • 1:16 PM » Former Equifax CEO apologizes for data breach in congressional testimony
    Published Mon, Oct 02 2017 1:16 PM by Market Watch
    Former Equifax CEO Richard Smith said he's "deeply sorry" for a data breach at the company that affected more than 140 million Americans. In testimony prepared for a House Energy and Commerce subcommittee hearing on Tuesday, Smith said Equifax was hacked by a "yet unknown entity" and that hackers exploited a vulnerability in software the company was using. "The vulnerability remained in an Equifax web application much longer than it should have," Smith said. The hearing on Tuesday is one of several scheduled this week regarding the breach.
  • 12:45 PM » Most Local Economies Grew At A Slower Pace In Q1 2017
    Published Mon, Oct 02 2017 12:45 PM by eyeonhousing.org
    Real gross domestic product (GDP) increased in 44 states and the District of Columbia in the first quarter of 2017, according to the U.S. Bureau of Economic Analysis. Only 15 states saw an acceleration in its annualized rate of growth from the last quarter of 2016 to the first quarter of 2017 while 35 states and the District of Columbia... Read More ›
    Click Here to Read the Full Article

    Source: eyeonhousing.org
  • 11:46 AM » CFPB "Can Improve" Recordkeeping and Notifications of Purpose in Civil Investigative Demands, OIG Finds
    Published Mon, Oct 02 2017 11:46 AM by www.consumerfinancemonitor.com
    On September 20, 2017, the Federal Reserve’s Office of Inspector General (“OIG”) issued a report on the CFPB’s process for issuing Civil Investigative Demands (“CID”). The OIG found that the CFPB “generally complied” with requirements for issuing CIDs, with two exceptions. First, the CFPB failed to use notifications of purpose that adequately informed recipients about... Continue Reading
    Click Here to Read the Full Article

    Source: www.consumerfinancemonitor.com
  • 11:16 AM » Bond Report: Treasury yields see muted action after better-than-expected manufacturing data
    Published Mon, Oct 02 2017 11:16 AM by Market Watch
    U.S. Treasurys are little changed late-morning Monday, keeping yields in a narrow range, as investors grapple with a strong reading on U.S. manufacturing sentiment survey and geopolitical concerns,
  • 10:20 AM » The Fed: Fed's Kashkari prefers no more rate hikes until inflation hits 2% target
    Published Mon, Oct 02 2017 10:20 AM by Market Watch
    Minneapolis Fed President Neel Kashkari said Monday the central bank should not raise rates until inflation hits the 2% target, a break with Janet Yellen's view.
  • 10:03 AM » ISM manufacturing index hits 60.8 in September; construction spending up 0.5% in August
    Published Mon, Oct 02 2017 10:03 AM by CNBC
    ISM manufacturing index hits 60.8 in September; construction spending up 0.5% in August|| 104746465
  • 8:25 AM » Favorite to be Fed chair pick believes US central bank is ‘slave of the S&P'
    Published Mon, Oct 02 2017 8:25 AM by CNBC
    Societe Generale's analyst said at a conference last week Kevin Warsh claimed current Fed policy is deeply flawed.
  • 8:21 AM » Three reasons that bonds may have come to an important turning point
    Published Mon, Oct 02 2017 8:21 AM by CNBC
    The bond market may have come to an important turning point, which means the fourth quarter could be a time of higher interest rates.
  • 8:21 AM » The Bad Doesn't Outweigh the Good
    Published Mon, Oct 02 2017 8:21 AM by Freddie Mac
    By Dwight Robinson, SVP Human Resources, Diversity & Inclusion and Chief Diversity Officer Homeownership has often been characterized as one of the foundational elements of the American Dream. But for too many African-American families throughout our country's history, homeownership did not live up to their expectations. Read More
  • 8:20 AM » Black Knight Mortgage Monitor: "350,000 in Hurricane Irma Disaster Areas Have Negative or Limited Equity"
    Published Mon, Oct 02 2017 8:20 AM by Calculated Risk Blog
    Black Knight released their Mortgage Monitor report for August today. According to Black Knight, 3.93% of mortgages were delinquent in August, down from 4.24% in August 2016. Black Knight also reported that 0.76% of mortgages were in the foreclosure process, down from 1.04% a year ago. This gives a total of 4.69% delinquent or in foreclosure. Press Release: Black Knight's Mortgage Monitor: Most Borrowers Impacted by Hurricane Harvey Have Significant Equity; 350,000 in Hurricane Irma Disaster Areas Have Negative or Limited Equity Today, the Data & Analytics division of Black Knight, Inc. released its latest Mortgage Monitor Report, based on data as of the end of August 2017. On the heels of reporting an early, 16 percent spike in mortgage delinquencies in Hurricane Harvey-related disaster areas, Black Knight examined the equity outlook for mortgage holders impacted by either Hurricane Harvey or Hurricane Irma. As Black Knight Data & Analytics Executive Vice President Ben Graboske explained, despite the extent of the damage in Texas, Hurricane Harvey-impacted borrowers have a greater equity stake, which may bode well for long-term recovery. "Before Hurricane Harvey made landfall, the average combined loan-to-value ratio (CLTV) for homeowners with mortgages in what became FEMA-designated disaster areas was 53 percent," said Graboske. "Right on par with the national average, that's the lowest we've seen since prior to 2004. This equates to approximately $131,000 in equity per borrower. That works out to a lot of skin in the game, and will likely serve as strong motivation for borrowers not to walk away from a storm-damaged home. In addition, over 75 percent of mortgages in the Hurricane Harvey footprint are held in Fannie Mae, Freddie Mac or Ginnie Mae securities. Therefore, the bulk of borrowers affected by the storm will be able to find assistance under the various foreclosure moratoriums and forbearance programs that...
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • Fri, Sep 29 2017
  • 2:55 PM » If You Find Your Own Buyer, Will Your Real Estate Agent Take Less Commission?
    Published Fri, Sep 29 2017 2:55 PM by www.realtor.com
    Let's say you're selling your home and you find your own buyer, independent of your real estate agent's efforts. Do you still have to pay the commission? The post If You Find Your Own Buyer, Will Your Real Estate Agent Take Less Commission? appeared first on Real Estate News & Insights | realtor.com® .
    Click Here to Read the Full Article

    Source: www.realtor.com
  • 2:30 PM » CFPB updates HMDA rule guidance materials
    Published Fri, Sep 29 2017 2:30 PM by www.consumerfinancemonitor.com
    The Consumer Financial Protection Bureau (CFPB) recently posted on its website updated versions of guidance in connection with the revisions to the Home Mortgage Disclosure Act (HMDA) rules that become effective on January 1, 2018. The CFPB updated the Key dates timeline, 2018 HMDA institutional coverage chart and 2018 HMDA transactional coverage chart to reflect... Continue Reading
    Click Here to Read the Full Article

    Source: www.consumerfinancemonitor.com
  • 2:30 PM » Gary Cohn: 'People don't buy homes because of the mortgage deduction'—or do they?
    Published Fri, Sep 29 2017 2:30 PM by CNBC
    Gary Cohn: "People don't buy homes because of the mortgage deduction"-or do they?
  • 12:41 PM » Kevin Warsh is far from a lock to replace Janet Yellen as Fed chair
    Published Fri, Sep 29 2017 12:41 PM by CNBC
    Warsh's meeting with the president on Thursday pushes him to the lead in the race for a new Fed chair, for now, Politico's Ben White says.
  • 12:04 PM » Fed's Harker says he still expects to raise rates in December
    Published Fri, Sep 29 2017 12:04 PM by CNBC
    Philadelphia Federal Reserve Bank Pres. Patrick Harker says he has "penciled in" an interest rate hike in December, and three more rate hikes next year.
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Mortgage Rates:
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