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  • Thu, Jun 21 2018
  • 11:34 AM » Hutchins Roundup: Value of American banks, signals of financial distress, and more
    Published Thu, Jun 21 2018 11:34 AM by webfeeds.brookings.edu
    Studies in this week's Hutchins Roundup find the market value of American banks is driven in large part by the value of government guarantees, asset prices and current account deficits are better at signaling financial distress than credit growth, and more. Want to receive the Hutchins Roundup as an email? Sign up here to get…                
    Click Here to Read the Full Article

    Source: webfeeds.brookings.edu
  • 11:11 AM » The Modular-Home Maker That Could Make Housing Cheaper
    Published Thu, Jun 21 2018 11:11 AM by Bloomberg
    Bloomberg The Modular-Home Maker That Could Make Housing Cheaper Bloomberg Upstairs in Katerra Inc.'s cavernous 250,000-square-foot factory on the west side of Phoenix, real estate developers compare quartz countertops and bathroom fixtures while architects use the company's design software to pick from premade plans. On the ...
  • 10:47 AM » Earlier: Philly Fed Manufacturing Survey "Suggest Continuing Growth" in June
    Published Thu, Jun 21 2018 10:47 AM by Calculated Risk Blog
    From the Philly Fed: June 2018 Manufacturing Business Outlook Survey Results from the June Manufacturing Business Outlook Survey suggest continued expansion of the region's manufacturing sector . All the broad indicators remained positive, although the indicators for general activity and new orders fell notably . The firms continued to report higher prices for purchased inputs and their own manufactured goods. Expectations for the next six months continued to moderate but remain positive overall. The diffusion index for current general activity remained positive but decreased 15 points this month . Almost 37 percent of the manufacturers reported increases in overall activity this month, while 17 percent reported decreases. ... The firms continued to report overall increases in employment . Nearly 34 percent of the responding firms reported increases in employment this month, while 3 percent reported decreases. The current employment index, at 30.4, was virtually unchanged from May. The current average workweek index, however, decreased 10 points. emphasis added Here is a graph comparing the regional Fed surveys and the ISM manufacturing index: Click on graph for larger image. The New York and Philly Fed surveys are averaged together (yellow, through June), and five Fed surveys are averaged (blue, through May) including New York, Philly, Richmond, Dallas and Kansas City. The Institute for Supply Management (ISM) PMI (red) is through May (right axis). This suggests the ISM manufacturing index will show solid expansion again in June, but probably weaker than in May.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 10:35 AM » Mortgage Rates Retreat
    Published Thu, Jun 21 2018 10:35 AM by freddiemac.mwnewsroom.com
    Mortgage Rates Retreat
    Click Here to Read the Full Article

    Source: freddiemac.mwnewsroom.com
  • 10:16 AM » Leading indicators up in May, still short of expectations
    Published Thu, Jun 21 2018 10:16 AM by CNBC
    The Leading Economic Index was expected to rise 0.4 percent in May for its seventh straight month of gains.
  • 9:48 AM » Haldane Joins BOE Hawks, Raising Chance of Summer Rate Hike
    Published Thu, Jun 21 2018 9:48 AM by Bloomberg
    Bloomberg Haldane Joins BOE Hawks, Raising Chance of Summer Rate Hike Bloomberg Bank of England Chief Economist Andy Haldane unexpectedly threw his support behind an immediate interest-rate increase, defying the majority of policy makers who voted to keep the rate unchanged. The pound rose on the news of a unexpected 6-3 split ... and more »
  • 8:53 AM » Euroskeptics Get Key Italy Parliament Posts Amid Pressure on EU
    Published Thu, Jun 21 2018 8:53 AM by Bloomberg
    Euroskeptics Get Key Italy Parliament Posts Amid Pressure on EU Bloomberg Two staunchly euroskeptic lawmakers from the coalition partner League were named to head key economic committees in Italy's parliament, while the party's chief threatened more trouble for the European Union. Economist Alberto Bagnai, author of two ... and more »
  • 8:43 AM » Jobless claims fall for fourth straight week
    Published Thu, Jun 21 2018 8:43 AM by Reuters
    The number of Americans filing for unemployment benefits unexpectedly fell last week, pointing to a further tightening in labor market conditions.
  • 8:31 AM » Number of Builders Reporting a Shortage of Framing Lumber Surges
    Published Thu, Jun 21 2018 8:31 AM by eyeonhousing.org
    Shortages of framing lumber are now more widespread than at any time since NAHB began tracking the issue in a consistent way in 1994, according to results from the May 2018 survey for the NAHB/Wells Fargo Housing Market Index. Over 30 percent of single-family builders responding to the survey’s special questions in May reported a shortage of framing lumber, outdistancing the other 22... Read More ›
    Click Here to Read the Full Article

    Source: eyeonhousing.org
  • 8:10 AM » ECB confident on inflation outlook despite risks: Villeroy
    Published Thu, Jun 21 2018 8:10 AM by Reuters
    ECB confident on inflation outlook despite risks: Villeroy
  • 8:09 AM » Black Knight: National Mortgage Delinquency Rate Decreased in May, Foreclosure Inventory Close to Pre-Recession Average
    Published Thu, Jun 21 2018 8:09 AM by Calculated Risk Blog
    From Black Knight: Black Knight's First Look: May 2018 Sees Second Fewest Foreclosure Starts in 17 Years; Active Foreclosure Inventory on Pace to Hit Pre-Recession Average in Early Q3 2018 • At 44,900, May 2018 saw the second lowest monthly foreclosure starts in more than 17 years • Just 303,000 mortgages remain in active foreclosure; at 0.59 percent, the national foreclosure rate is now at its lowest point in 15 years • At the current rate of decline, national foreclosure inventories are on pace to hit the pre-recession average (2000-2005) in early Q3 2018 • May marked five consecutive months of declining delinquencies, as post-hurricane improvement continues • Delinquency improvements in hurricane-affected areas more than offset slight increases in non-impacted markets in May, dropping the national delinquency rate to its lowest level in 15 months According to Black Knight's First Look report for May, the percent of loans delinquent decreased 0.8% in May compared to April, and decreased 4.1% year-over-year. The percent of loans in the foreclosure process decreased 3.3% in May and were down 28.7% over the last year. Black Knight reported the U.S. mortgage delinquency rate (loans 30 or more days past due, but not in foreclosure) was 3.64% in May, down from 3.67% in April. The percent of loans in the foreclosure process decreased in May to 0.59%. The number of delinquent properties, but not in foreclosure, is down 60,000 properties year-over-year, and the number of properties in the foreclosure process is down 118,000 properties year-over-year. Black Knight: Percent Loans Delinquent and in Foreclosure Process   May 2018 Apr 2018 May 2017 May 2016 Delinquent 3.64% 3.67% 3.79% 4.25% In Foreclosure 0.59% 0.61% 0.83% 1.13% Number of properties: Number of properties that are delinquent, but not in foreclosure: 1,867,000 1,885,000 1,927,000 2,153,000 Number of properties in foreclosure pre-sale inventory: 303,000 314,000 421,000 574,000 Total...
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • Wed, Jun 20 2018
  • 5:50 PM » HUD seeks comment on disparate impact rule; Ballard Spahr to hold July 19 webinar
    Published Wed, Jun 20 2018 5:50 PM by www.consumerfinancemonitor.com
    The U.S. Department of Housing and Urban Development (HUD) has issued an advance notice of proposed rulemaking (ANPR) seeking comment on whether its 2013 Disparate Impact Rule (Rule) should be revised in light of the 2015 U.S. Supreme Court ruling in Texas Department of Housing and Community Affairs v. Inclusive Communities Project, Inc. On July... Continue Reading
    Click Here to Read the Full Article

    Source: www.consumerfinancemonitor.com
  • 2:58 PM » US Trade Disputes Get Top Central Bankers Increasingly Worried
    Published Wed, Jun 20 2018 2:58 PM by Bloomberg
    Bloomberg US Trade Disputes Get Top Central Bankers Increasingly Worried Bloomberg The world's most-powerful central bankers warned that the escalation of international trade tensions has started damaging confidence among companies, threatening the global economic expansion. "Changes in trade policy could cause us to have to ... and more »
  • 2:50 PM » AIA: "Architecture firm billings strengthen in May"
    Published Wed, Jun 20 2018 2:50 PM by Calculated Risk Blog
    Note: This index is a leading indicator primarily for new Commercial Real Estate (CRE) investment. From the AIA: Architecture firm billings strengthen in May Architecture firm billings grew in May, marking the eighth consecutive month of solid growth, according to a new report today from The American Institute of Architects (AIA). Overall, the AIA's Architecture Billings Index (ABI) score for May was 52.8 (any score over 50 is billings growth), which shows that demand for services from architecture firms continues to be healthy. The ABI also indicated that business conditions remain strong at firms located in the South and West, while growth in billings was modest at firms in the Northeast and Midwest. "Architecture firms continue to have plenty of work as they enter the busiest part of the design and construction season," said AIA Chief Economist Kermit Baker, Hon. AIA, PhD. "This is especially true for firms serving the institutional building sector, which reported their strongest growth in billings in several years." ... • Regional averages: West (51.9), Midwest (50.2), South (55.0), Northeast (50.6) • Sector index breakdown: multi-family residential (52.1), institutional (54.3), commercial/industrial (53.6), mixed practice (47.9) emphasis added Click on graph for larger image. This graph shows the Architecture Billings Index since 1996. The index was at 52.8 in May, up from 52.0 in April. 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 an "approximate nine to twelve month lag time between architecture billings and construction spending" on non-residential construction.  This index was positive in 11 of the last 12 months, suggesting a further increase in CRE investment in 2018.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 1:42 PM » Pimco's Kiesel Warns of 'More Volatility Ahead'
    Published Wed, Jun 20 2018 1:42 PM by Bloomberg
    Bloomberg Pimco's Kiesel Warns of 'More Volatility Ahead' Bloomberg Mark Kiesel, chief investment officer of global credit and managing director at Pimco, discusses Federal Reserve policy and his investment strategy in the energy, bond and housing markets. He speaks with Bloomberg's Vonnie Quinn and Mark Barton on ...
  • 1:42 PM » Up, Up, and Away: Prices of Existing Homes Hit All-Time High
    Published Wed, Jun 20 2018 1:42 PM by www.realtor.com
    It's getting ever more expensive to buy a home as the median price of an existing home has hit a new all-time high-and is likely to rise even further. The post Up, Up, and Away: Prices of Existing Homes Hit All-Time High appeared first on Real Estate News & Insights | realtor.com® .
    Click Here to Read the Full Article

    Source: www.realtor.com
  • 1:42 PM » 15 cities where home prices are skyrocketing
    Published Wed, Jun 20 2018 1:42 PM by CNBC
    Here's where the American real estate market is hottest right now.
  • 11:57 AM » Chinese investment in the US drops 90% amid political pressure
    Published Wed, Jun 20 2018 11:57 AM by CNBC
    Counting divestitures, net Chinese deal flow to the U.S. during the first five months of this year was a negative $7.8 billion, according to Rhodium Group.
  • 11:51 AM » Spurring innovation and competition in the U.S. economy
    Published Wed, Jun 20 2018 11:51 AM by webfeeds.brookings.edu
    Over the last 200 years, the U.S. economy has grown from its pre-industrial roots to become the largest and most dynamic economy in the world. Much of that explosive economic growth came from America's intrepid entrepreneurs and vigorous market competition. But according to recent data, the dynamism that spurred the growth of the last two…                
    Click Here to Read the Full Article

    Source: webfeeds.brookings.edu
  • 11:23 AM » Democratic Senators seek documents from Kraninger about her role in "zero-tolerance" policy
    Published Wed, Jun 20 2018 11:23 AM by www.consumerfinancemonitor.com
    Democratic Senators Elizabeth Warren and Sherrod Brown have sent a letter to Kathy Kraninger, President Trump’s nominee for CFPB Director, seeking documents and other information about Ms. Kraninger’s role in the development and implementation of the Trump Administration’s “zero-tolerance” policy for individuals attempting illegal entry into the United States. While not mentioned in her letter,... Continue Reading
    Click Here to Read the Full Article

    Source: www.consumerfinancemonitor.com
  • 9:45 AM » Nantucket home prices hit new records
    Published Wed, Jun 20 2018 9:45 AM by CNBC
    Home sales are hot on the island destination off the coast of Massachusetts.
  • 9:44 AM » Fed Chair Powell calls case 'strong' for more interest rate hikes
    Published Wed, Jun 20 2018 9:44 AM by CNBC
    Citing robust growth and a generational low in unemployment, Federal Reserve Chairman Jerome Powell emphasized the central bank's commitment to further interest rates in a speech Wednesday.
  • 9:06 AM » Millennials moving out of Mom and Dad's place, study shows
    Published Wed, Jun 20 2018 9:06 AM by CNBC
    Due to the strength of the job market, fewer young adults lived with their parents in 2017 than in 2016, according to new data from CoStar Group. The firm expects the downward trend to continue.
  • 9:02 AM » EU to impose duties on U.S. imports Friday after Trump tariffs
    Published Wed, Jun 20 2018 9:02 AM by Reuters
    BRUSSELS (Reuters) - The European Union will begin charging import duties of 25 percent on a range of U.S. products on Friday, in response to U.S tariffs imposed on EU steel and aluminum early this month, the European Commission said on Wednesday.
  • 8:11 AM » US Treasury yields tick higher as trade turmoil continues to rattle markets
    Published Wed, Jun 20 2018 8:11 AM by CNBC
    U.S. government debt prices slipped into negative territory on Wednesday, ahead of a key speech by the chair of the U.S. Federal Reserve.
  • 8:10 AM » Hurricane-Proof Homes Are Real. Why Isn't Anyone Buying Them?
    Published Wed, Jun 20 2018 8:10 AM by Bloomberg
    Bloomberg Hurricane-Proof Homes Are Real. Why Isn't Anyone Buying Them? Bloomberg New structures can deflect wind, resist fire and float on demand. Yet despite increased risks from climate change, those innovations have been slow to spread. At developer Eric Soulavy's condominium project in Key Largo, Florida, prices start at $5 ...
  • 8:10 AM » US Growth Is 'Close to a Peak', But Risks Are Mounting
    Published Wed, Jun 20 2018 8:10 AM by Bloomberg
    Bloomberg US Growth Is 'Close to a Peak', But Risks Are Mounting Bloomberg The U.S. economy is booming this quarter as tax cuts power consumers and businesses. Yet risks are mounting that the high will be short-lived. The housing market is struggling to build on its progress thanks to supply constraints and soaring property ... and more »
  • Tue, Jun 19 2018
  • 2:35 PM » Bond Traders Get Ready for Yield-Curve Inversion as Soon as Next Week
    Published Tue, Jun 19 2018 2:35 PM by Bloomberg
    Bloomberg Bond Traders Get Ready for Yield-Curve Inversion as Soon as Next Week Bloomberg The first step in the inversion of the U.S. Treasury curve may be poised to occur as soon as next week. The spread between 7- and 10-year yields held just below 4 basis points Tuesday, after shrinking to 2 basis points last month, the smallest gap ...
  • 2:35 PM » Existing Home Sales: Take the Under for May
    Published Tue, Jun 19 2018 2:35 PM by Calculated Risk Blog
    Housing economist Tom Lawler has been sending me his predictions of what the NAR will report for 8+ years.  The table below shows the consensus for each month, Lawler's predictions, and the NAR's initially reported level of sales.  Lawler hasn't always been closer than the consensus, but usually when there has been a fairly large spread between Lawler's estimate and the "consensus", Lawler has been closer. As an example, last month, for April 2018, the consensus was for sales of 5.60 million on a seasonally adjusted annual rate (SAAR) basis. Lawler estimated 5.48 million, and the NAR reported 5.46 million (the consensus missed by 140 thousand compared to 20 thousand for Lawler). NOTE: There have been times when Lawler "missed", but then he pointed out an apparent error in the NAR data - and the subsequent revision corrected that error.  As an example, see: The "Curious Case" of Existing Home Sales in the South in April For May 2018, the consensus is that the NAR will report sales of 5.56 million  SAAR. However,  housing economist Tom Lawler estimates the NAR will report sales of 5.47 million. Lawler's estimate is a little below the consensus, so I'd take the under for May. Note: The NAR is scheduled to report May Existing Home Sales tomorrow Wednesday, June 20th at 10:00 AM ET. Over the last eight years, the consensus average miss was 147 thousand, and  Lawler's average miss was 69 thousand. Existing Home Sales, Forecasts and NAR Report millions, seasonally adjusted annual rate basis (SAAR) Month Consensus Lawler NAR reported 1 May-10 6.20 5.83 5.66 Jun-10 5.30 5.30 5.37 Jul-10 4.66 3.95 3.83 Aug-10 4.10 4.10 4.13 Sep-10 4.30 4.50 4.53 Oct-10 4.50 4.46 4.43 Nov-10 4.85 4.61 4.68 Dec-10 4.90 5.13 5.28 Jan-11 5.20 5.17 5.36 Feb-11 5.15 5.00 4.88 Mar-11 5.00 5.08 5.10 Apr-11 5.20 5.15 5.05 May-11 4.75 4.80 4.81 Jun-11 4.90 4.71 4.77 Jul-11 4.92 4.69 4.67 Aug-11...
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 1:08 PM » Trade Tensions Escalate, Draghi Patience, Jobs Puzzle
    Published Tue, Jun 19 2018 1:08 PM by Bloomberg
    Bloomberg Trade Tensions Escalate, Draghi Patience, Jobs Puzzle: Eco Day Bloomberg Welcome to Tuesday, Americas. Here's news from Bloomberg Economics to help get your day started: Trade tensions between the world's two biggest economies are intensifying, with China vowing to retaliate "forcefully" against President Trump's threatened ... and more »
  • 11:17 AM » Freddie Mac Forgoes Issuing a Reference Notes Security on its June 19, 2018 Announcement Date
    Published Tue, Jun 19 2018 11:17 AM by www.freddiemac.mwnewsroom.com
    Freddie Mac Forgoes Issuing a Reference Notes Security on its June 19, 2018 Announcement Date
    Click Here to Read the Full Article

    Source: www.freddiemac.mwnewsroom.com
  • 10:27 AM » Freddie Mac Prices $1.0 Billion Multifamily K-Deal, K-077
    Published Tue, Jun 19 2018 10:27 AM by freddiemac.mwnewsroom.com
    Freddie Mac Prices $1.0 Billion Multifamily K-Deal, K-077
    Click Here to Read the Full Article

    Source: freddiemac.mwnewsroom.com
  • 9:56 AM » China slams U.S. 'blackmailing' as Trump issues new trade threat
    Published Tue, Jun 19 2018 9:56 AM by Reuters
    BEIJING/WASHINGTON (Reuters) - U.S. President Donald Trump threatened to impose a 10 percent tariff on $200 billion of Chinese goods and Beijing warned it would retaliate, in a rapid escalation of the trade conflict between the world's two biggest economies.
  • 9:55 AM » Germany's Ifo sees euro crisis 2.0, trade war slashing growth
    Published Tue, Jun 19 2018 9:55 AM by Reuters
    BERLIN, June 19 (Reuters) - Germany's Ifo institute on Tuesday cut its forecasts for growth in Europe's biggest economy this year and next, citing a weak start to the year and increased global risks.
  • 9:53 AM » ECB patient and gradual with rate hikes, Draghi says
    Published Tue, Jun 19 2018 9:53 AM by Reuters
    SINTRA, Portugal (Reuters) - The European Central Bank will be patient in tightening policy further, ECB President Mario Draghi said on Tuesday, adding that market pricings for its first post-crisis rate hike were consistent with its aim to move gradually.
  • 9:36 AM » Most people still don't understand a thing about their credit score, and it's costing them BIG time
    Published Tue, Jun 19 2018 9:36 AM by CNBC
    Many people are mistaken about the key factors that determine their credit score. Worse, they don't know the three easiest ways that can quickly pull it up.
  • 9:18 AM » Another Top-10 List — Where Millennials Are Moving 2018
    Published Tue, Jun 19 2018 9:18 AM by blog.stewart.com
    Millennials have made up the top-homebuyer demographic since 2016 and are likely to the primary demand segment for housing for decades to come. With a current force of 71 million in the population cohort, where Millennials end up moving and working may change the destiny of cities and states across the U.S. - both those … Read more
    Click Here to Read the Full Article

    Source: blog.stewart.com
  • 8:02 AM » US Homes Are a Lot Cheaper Than They Look, Harvard Study Finds
    Published Tue, Jun 19 2018 8:02 AM by Bloomberg
    Bloomberg US Homes Are a Lot Cheaper Than They Look, Harvard Study Finds Bloomberg Before you call Harvard crazy, consider. Despite the long, stratospheric rise of home prices in the U.S., the inflation-adjusted monthly payment on the median single-family home in 2017 was less than in 1987, when home prices were lower but interest ...
  • Mon, Jun 18 2018
  • 4:21 PM » Fed official: Trade fears are hurting business optimism
    Published Mon, Jun 18 2018 4:21 PM by CNN
    Escalating trade tensions have all but wiped out the optimism that businesses felt because of tax cuts, a Federal Reserve official says.
  • 4:20 PM » S&P 500, Dow dip; trade-war worries countered by energy gains
    Published Mon, Jun 18 2018 4:20 PM by Reuters
    NEW YORK (Reuters) - The Dow and S&P fell modestly on Monday, ending well off session lows, as gains in energy shares helped curb declines stemming from trade war concerns after China's retaliation to U.S. tariffs.
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Mortgage Rates:
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