Freddie Mac August 2015 Insight & Outlook

Freddie Mac August 2015 Insight & Outlook...(read more)

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Homebuilders call new labor law ruling crippling

Homebuilders are balking at a new labor law ruling that puts them on the hook for issues involving millions of subcontractors. Roofers, plumbers, electricians, framers are just some of the 25 categories of subcontractors used to build a home. The National Labor Relations Board (NLRB) could, in some cases, now deem them "joint employees" of the homebuilders. "The homebuilding industry, which is ......(read more)

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Dow on Pace for Worst Month in Five-Years

Bloomberg Dow on Pace for Worst Month in Five-Years Bloomberg Bloomberg's Matt Miller updates the latest markets news. He reports on "Bloomberg Markets." (Source: Bloomberg). Related. Dirt Cheap Oil Longs for $90 as Supply Continues to Build. Most Recent Videos. What Are Bond Spreads Telling Us About Stocks?...(read more)

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Wells Fargo HomeLIFT program to help St. Louis homebuyers

Wells Fargo HomeLIFT program to help St. Louis homebuyers<br/>http://ift.tt/1MXSMW5...(read more)

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Chicago PMI declines in August

Activity in the U.S. Midwest declined modestly and fell just short of expectations, but showed expansion in the region for the second straight month....(read more)

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How to Keep Your Closing on Track

By SVP and Head of Single-Family Sales & Relationship Management Christina Boyle There's no mystery why home sales have been on an upward trend. The mystery is why so many sales contracts are held up at closing by financial issues. Read More...(read more)

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84 House members urge expedited CFPB action on small business lending data collection rules

Barbara S. Mishkin 84 House members recently wrote to the CFPB to urge it to expedite rulemaking to implement the small business lending data requirements of Dodd-Frank Section 1071.  Section 1071 amended the ECOA to require financial institutions to collect and maintain certain data in connection with credit applications made by women- or minority-owned businesses and small businesses. ... More >...(read more)

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Yellen ally pours cold water on rule-based monetary policy

JACKSON HOLE, Wyo. (Reuters) - For much of her tenure as head of the Federal Reserve, Janet Yellen has been pressured by Republican lawmakers who want the U.S. central bank to adopt a monetary policy rule, a straightforward formula connecting unemployment and inflation to a benchmark interest rate....(read more)

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China defends yuan devaluation

China on Saturday defended the recent revamp of its foreign exchange regime that led to a sharp devaluation of the yuan, calling it a "normal adjustment"....(read more)

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US bonds start the week with some gains

U.S. sovereign bonds gained on Monday, as a wobbly start to the week in equities boosted demand for so-called safe haven assets....(read more)

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Treasuries' Wild Ride a Prelude to Key Jobs Report Before Fed

Treasuries' Wild Ride a Prelude to Key Jobs Report Before Fed Bloomberg For Treasuries traders battered by the most volatile week since February, the biggest turbulence may still be ahead as a crucial U.S. report on August employment looms. Federal Reserve Vice Chairman Stanley Fischer said Friday that the bank hadn't ... and more »...(read more)

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The 20 Hottest U.S. Real Estate Markets in August 2015

We analyzed realtor.com data to come up with the 20 hottest real estate markets in the country right now. The post The 20 Hottest U.S. Real Estate Markets in August 2015 appeared first on Real Estate News and Advice - realtor.com ....(read more)

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P2P lending gains popularity

Peer-to-peer lending platforms offer investors a way to earn 5 to 10 percent on loans to online borrowers....(read more)

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Fed's Lockhart says chances of rate hike '50-50' in September

Dennis Lockhart, the president of the Atlanta Fed, said that chances of a rate hike have come down since earlier in August and are now '50-50.' "That seems to me to be a reasonable assessment of the situation," Lockhart said in an interview on Bloomberg News. Earlier in August, Lockhart told the Wall Street Journal he was likely to support a rate hike in September. But Lockhart said the market volatility in recent days was a "new" risk factor. "It has to be considered an open question whether we move now or wait a little while," he said. The Fed has to evaluate how lower oil prices, market......(read more)

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Freddie Mac: Mortgage Serious Delinquency rate declined in July, Lowest since October 2008

Freddie Mac reported that the Single-Family serious delinquency rate declined in July to 1.48%, down from 1.53% in June. Freddie's rate is down from 2.02% in July 2014, and the rate in July was the lowest level since October 2008. Freddie's serious delinquency rate peaked in February 2010 at 4.20%. These are mortgage loans that are "three monthly payments or more past due or in foreclosure".  Note: Fannie Mae will report their Single-Family Serious Delinquency rate for July next week. Click on graph for larger image Although the rate is declining, the "normal" serious delinquency......(read more)

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What hot housing markets could cool most come winter

Houses have been flying off the shelves for the past six months, but the sales pace is starting to slow, and could in fact decelerate more dramatically in some of the hottest markets come winter. Critically competitive markets like San Francisco, Denver, Seattle and Boston historically slow down the most in winter, and that could be welcome news for bidding-weary buyers. While home sales are ......(read more)

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'Very tough' for Fed to normalize: Taleb

The Fed faces a "very tough" task in normalizing monetary policy, as it has limited tools at its disposal, Nassim Taleb said....(read more)

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Fed's Kocherlakota Sees Ways to Lower Rates Further

Bloomberg Fed's Kocherlakota Sees Ways to Lower Rates Further Bloomberg Federal Reserve Bank of Minneapolis President Narayana Kocherlakota talks about U.S. inflation and monetary policy. He speaks in Jackson Hole, Wyoming, with Michael McKee and Brendan Greeley on Bloomberg Television's "Market Makers." (Source: ......(read more)

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Fed's Fischer says still undecided on whether to hike in September

WASHINGTON (Reuters) - The U.S. Federal Reserve is waiting to see how data and markets unfold over the coming weeks before deciding whether to raise interest rates at its September meeting, Vice Chair Stanley Fischer said on Friday....(read more)

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China fears linger as focus on Fed sharpens

LONDON (Reuters) - Fears over the health of China's economy kept world markets on edge this week and the country will remain in focus, along with the question of whether the Federal Reserve will raise interest rates next month....(read more)

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Bullard: Volatility Won't Change Our Outlook Very Much

Bloomberg Bullard: Volatility Won't Change Our Outlook Very Much Bloomberg Federal Reserve Bank of St. Louis President James Bullard talks about the impact in the United States of China's economic slowdown and what the market selloff means to Federal Reserve policy strategy. He speaks from the Jackson Hole economic ......(read more)

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U.S. consumer sentiment falls in August

NEW YORK (Reuters) - U.S. consumer sentiment fell in August, a survey released on Friday showed....(read more)

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Stock funds post $17.8B outflows

Investors in U.S.-based funds pulled $17.8 billion out of stock funds in the week ended Aug. 26 after a plunge in the stock markets....(read more)

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Fed's Kocherlakota: 2015 rate rise not appropriate

Federal Reserve Bank of Minneapolis President Narayana Kocherlakota said Friday he does not believe the Fed should raise interest this year....(read more)

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Bove: Is a Fannie, Freddie settlement near?

White House lawyers recently asked a federal court to grant them access to documents in the case between Fairholme Funds and the United States over Fannie Mae (OTCQB: FNMA) and Freddie Mac (OTCQB: FMCC). I think the unusual request suggests that the White House may be moving closer to a negotiated settlement in the multiple Fannie Mae lawsuits which will benefit shareholders in this company, ......(read more)

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Treasury yields fall: Oil, Jackson Hole eyed

U.S. government yields dipped lower Friday, as investors eyed the volatile ride in Asian stocks and crude oil and any significant soundbites from the Jackson Hole get-together of central bank policymakers. Early in the day, benchmark 10-year treasury bonds yielded 2.151 percent, down from 2.166 percent on Thursday. Thirty-year Treasury bonds yielded 2.884 percent, down from 2.902 percent. The ......(read more)

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Treasuries Rally Turns to Rout in Week of Surging Volatility

Treasuries Rally Turns to Rout in Week of Surging Volatility Bloomberg Treasuries headed for their biggest weekly loss since June as a rally turned into a rout in the most volatile trading in six months. U.S. government securities surged at the start of the week, briefly sending benchmark 10-year yields below 2 percent ... and more »...(read more)

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US consumer spending rises in July

U.S. consumer spending picked up a bit in July as households bought more automobiles, offering further evidence of strength in the economy....(read more)

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U.S. Housing: An Economic Bright Spot After a Wobbly Week

Multiple signs are pointing to recovery and stability-which is refreshing after five days of stock market volatility....(read more)

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Making Homeownership Less Exclusive

A new program aims to help poor and minority families qualify for mortgages....(read more)

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Need to Know: Never mind the market hiccup, here's the case for QE4 and Dow 25,000

This isn't your typical lazy summer Friday. Good luck to traders with the huevos to hold long positions over the weekend. In their favor, a surprisingly strong GDP report, a sharp rebound in equities, and the biggest bounce in crude in years have all helped to clear some of the dark clouds...(read more)

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MBA on Housing Demand from 2014 to 2024

The Mortgage Bankers Association released a new report this week: Demographics and the Numbers Behind the Coming Multi-Million increase in Households by Lynn Fisher and Jamie Woodwell. The report has some great section titles such as "Demographics is Destiny" and "35 is the new 25". These are two topics I've written about extensively.  See: Demographics and Behavior and Are Multi-Family Housing Starts near a peak? The MBA estimates the number of households will increase by between 13.8 million and 15.8 million over the next decade. Add in some demolitions and some second home buying, ......(read more)

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Protesters ask Fed to delay at Jackson Hole summit

As the Federal Reserve 's annual policy summit kicked off Thursday, protesters urged the central bank to delay an interest rate hike and focus on wage growth. About 50 demonstrators gathered in Jackson Hole, Wyoming, holding signs reading "whose recovery is this" and "how many jobs do I have to work to be middle class?" Surrounded by the protesters, Nobel laureate economist Joseph Stiglitz ......(read more)

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Money Pours Out of Emerging Markets at Rate Unseen Since Lehman

Money Pours Out of Emerging Markets at Rate Unseen Since Lehman Bloomberg As markets from China to South Africa tumbled, they pulled $2.7 billion out of developing economies on Aug. 24. That matches a Sept. 17, 2008 exodus during the week Lehman Brothers went under. The collapse of the U.S. investment bank was a a seminal ... and more »...(read more)

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China official blames Fed for global market rout, not yuan

BEIJING (Reuters) - Concerns over a possible U.S. rate rise by the Federal Reserve may have sparked a global stock market rout rather than the devaluation of China's yuan currency, a senior Chinese central bank official told Reuters on Thursday....(read more)

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One of the Most Popular Doom Scenarios for the U.S. Economy Is Fizzling Out - Bloomberg

One of the Most Popular Doom Scenarios for the U.S. Economy Is Fizzling Out Bloomberg For years, politicians, gloomy newsletter writers, and even some economists have been warning that the U.S. is at the mercy of China, because China owns so much Treasury debt. In 2010, a group called Citizens Against Government Waste made an ... and more »...(read more)

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The Scary Number Hiding Behind Today's GDP Party

Bloomberg The Scary Number Hiding Behind Today's GDP Party Bloomberg The federal government today released two very different estimates of the U.S. economy's growth rate in the second quarter. The one that got all the attention was the robust 3.7 percent annual rate of increase in gross domestic product. Not many people ... and more »...(read more)

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#TBT Hot Tubs: Cool or Not?

Hot Tubs: Love 'em or hate 'em, they're a fixture in American homes. This #TBT is a nod to whirlpools old and new alike. The post #TBT Hot Tubs: Cool or Not? appeared first on Real Estate News and Advice - realtor.com ....(read more)

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How Central Bankers Are Twisting Classic Bond-Investing Logic

Bloomberg How Central Bankers Are Twisting Classic Bond-Investing Logic Bloomberg The more central banks mess around with global bond markets, the more you have to question how you invest in bonds. Think safe-haven debt, such as U.S. Treasuries, will provide a hedge against losses on stocks? Not always. Or that central bankers ... and more »...(read more)

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Oil surges 7%, WTI rises above $41

Oil jumped 7 percent on Thursday after a rally in equity markets and an unexpected fall in U.S. crude inventories....(read more)

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Economic View: Rising Anxiety That Stocks Are Overpriced

There are reasons to question whether the recent sharp drop in an overactive stock market was enough, or whether a longer decline is ahead....(read more)

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CFPB issues second monthly complaint report

Barbara S. Mishkin The CFPB has issued its August 2015 complaint report, the second in its new series of monthly complaint reports.  When it announced the launch of the new reports last month, the CFPB stated that each report would spotlight a particular product and geographic location.  The August 2015 spotlights credit reporting complaints and complaints from consumers... More >...(read more)

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US-China correlation? Not much...now

History shows less-than-expected correlation between Chinese and U.S. stocks. At least for now....(read more)

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Fed's George softens rate hike stance

WASHINGTON (Reuters) - Kansas City Federal Reserve Bank President Esther George, who has been arguing for a near-term U.S. rate hike, said the Fed should now take a "wait and see" approach to hiking borrowing costs due to financial volatility and China's economic slowdown....(read more)

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Jobless claims fall more than expected

WASHINGTON, Aug 27 (Reuters) - The number of Americans filing new applications for unemployment benefits fell more than expected last week, pointing to a steadily firming labor market....(read more)

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Economic Report: U.S. economy looks much stronger after upward revision to GDP report

The U.S. economy grew at a 3.7% annual rate in the second quarter - much stronger than originally estimated, according to the GDP data released Thursday....(read more)

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Does Housing Take a Hit When Stocks Drop?

This week's dramatic stock market declines could make August one of the worst months for stocks. We look at what that means for the housing market. The post Does Housing Take a Hit When Stocks Drop? appeared first on Real Estate News and Advice - realtor.com ....(read more)

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Thursday: GDP, Unemployment Claims, Penidng Home Sales, Jackson Hole Symposium

From Tim Duy: Dudley Puts The Kibosh On September Monday's action on Wall Street was too much for the Fed. That day, Atlanta Federal Reserve President Dennis Lockhart pulled back his previous dedication to a September rate hike earlier, reverting to only an expectation that rates rise sometimes this year. But today New York Federal Reserve President William Dudley explicitly called September into question. ... ... Bottom Line: The Fed has long argued that the timing of the first rate hike does not matter. I had thought so as well, but that is clearly no longer the case. A rate hike during a......(read more)

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Freddie Mac Issues Monthly Volume Summary for July 2015

Freddie Mac Issues Monthly Volume Summary for July 2015...(read more)

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Treasurys pare gains; China, Fed eyed

Treasurys hit session lows as the market received new supply amid continued ongoing concerns about China and a possible Fed rate hike in September....(read more)

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