Fannie Mae: Mortgage Serious Delinquency rate declined in March, Lowest since June 2008

Fannie Mae reported today that the Single-Family Serious Delinquency rate declined in March to 1.44%, down from 1.52% in February. The serious delinquency rate is down from 1.78% in March 2015. This is the lowest rate since June 2008. The Fannie Mae serious delinquency rate peaked in February 2010 at 5.59%. Note: These are mortgage loans that are "three monthly payments or more past due or in foreclosure". Note: Freddie Mac has not reported for March yet. Click on graph for larger image The Fannie Mae serious delinquency rate has only fallen 0.34 percentage points over the last year - the......(read more)

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Freddie Mac may need another taxpayer bailout next week

The mortgage giant under government control is likely to report a big quarterly loss thanks to interest rate derivative bets....(read more)

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Breaking up the big banks won't stop another financial crisis

In debating whether or not to break up the big banks, there is a key misconception that has to be put to rest by both sides: another financial crisis will occur, regardless. Financial crises are part of the economic framework of capitalism, whether they are based on Dutch tulip mania in the 1600s, the Panic of 1907 with runs on banks and trusts,, the savings and loan debacle of the 1980s, or the subprime mortgage meltdown of the last decade. History is clear, there is no magic solution to end financial crises based on the size or number of banks in a country. What you can do is guard against......(read more)

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Lawler:Updated Table of Distressed Sales and All Cash Sales for Selected Cities in March

Economist Tom Lawler sent me an updated table below of short sales, foreclosures and all cash sales for selected cities in March. On distressed: Total "distressed" share is down in all of these markets. Short sales and foreclosures are down in all of these areas. The All Cash Share (last two columns) is mostly declining year-over-year. As investors continue to pull back, the share of all cash buyers continues to decline.   Short Sales Share Foreclosure Sales Share Total "Distressed" Share All Cash Share Mar- 2016 Mar- 2015 Mar- 2016 Mar- 2015 Mar- 2016 Mar- 2015......(read more)

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Fed's Kaplan Speaks: Economic Growth, Rates and Oil - Bloomberg

Bloomberg Fed's Kaplan Speaks: Economic Growth, Rates and Oil Bloomberg Federal Reserve Bank of Dallas President Robert Kaplan talks about economic growth, the outlook for rates and oil prices. He speaks at an event in London. (Source: Bloomberg). Related. Bill Gross: Smart Investors Know There's Something Wrong ......(read more)

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Consumer sentiment edges lower in April

Consumers were feeling a bit less optimistic in April, according to a recent survey....(read more)

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Equity funds see more outflows as investors trim risk: BAML

LONDON (Reuters) - Investors continued to trim risk exposure in the past week, dumping stocks and putting money to work in bonds, Bank of America Merrill Lynch (BAML) said on Friday, warning of a possible "summer of shocks" ahead....(read more)

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Does your homeowners insurance fully cover you for these seven common claims?

Your homeowners or renters insurance policy may not be as disaster-ready as you think. How to fill in the gaps....(read more)

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U.S. inflation retreats on soft consumer spending

WASHINGTON, April 29 (Reuters) - - U.S. inflation barely rose in March as consumer spending remained tepid, making it less likely that the Federal Reserve will be able to hike interest rates twice this year....(read more)

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Fed's Kaplan says he will advocate for raising interest rates gradually

LONDON (Reuters) - Dallas Federal Reserve President, Robert Kaplan, on Friday pledged to push for gradual increases in the U.S. benchmark interest rate, as long as inflation continues to rise and the U.S. economy remains near full employment....(read more)

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US inflation retreats on soft consumer spending

U.S. inflation barely rose in March as spending remained tepid, making it less likely that the Fed will be able to hike rates twice this year....(read more)

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Morgan Stanley Says Treasuries Set to Gain as Fed Holds Rates

Bloomberg Morgan Stanley Says Treasuries Set to Gain as Fed Holds Rates Bloomberg Treasuries are poised to gain through the third quarter and the odds of a Federal Reserve rate increase in June are declining, according to Morgan Stanley. U.S. 10-year yields will drop to 1.45 percent by Sept. 30, according to the "base case" forecast ... and more »...(read more)

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Wall St fumes at Fed's global mandate

In its quest to find the right time to raise rates, the Fed has discovered a third mandate: creating a perfect world....(read more)

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The O.C. Reigns Supreme in This Week's Most Expensive New Listings

When we examined this week's most expensive new listings on realtor.com®, we found the top spots dominated by gated mansions in the land of sun and surf. The post The O.C. Reigns Supreme in This Week’s Most Expensive New Listings appeared first on Real Estate News and Advice - realtor.com ....(read more)

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Gen-X Homeownership Continues Rising in the First Quarter of 2016

The homeownership rate for Generation X was 58.9% in the first quarter of 2016, up by 0.5% on a year-over-year basis, while homeownership rates continued to decline for other age groups. According to the Census Bureau's Housing Vacancy Survey (HVS), the nation's homeownership rate in the first quarter of 2016 was 63.5%, down by 20 basis points on a nonseasonally... Read More ›...(read more)

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GDP stumble will keep Fed guessing

The slowdown in the U.S. economy at the start of 2016 could prompt the Fed to slow its move to raise interest rates....(read more)

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CBRE CEO: Solid Real-Estate Fundamentals Driving Growth

Bloomberg CBRE CEO: Solid Real-Estate Fundamentals Driving Growth Bloomberg Robert Sulentic, chief executive officer at CBRE Group, discusses first-quarter results, solid real estate fundamentals, and how the tech industry is driving growth in the New York City market. He speaks on "Bloomberg Markets." (Source: Bloomberg) ......(read more)

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Bond Traders Focus on Inflation Uptick as Treasuries Erase Gains

Bond Traders Focus on Inflation Uptick as Treasuries Erase Gains Bloomberg Treasuries fluctuated, erasing earlier gains, after data showed a measure of inflation climbed in the first quarter by the most since 2012 even as the U.S. economy expanded at the slowest pace in two years. Benchmark 10-year notes were little changed ... and more »...(read more)

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Homeownership near its lowest in history

After gains in the second half of 2015, the homeownership rate fell to just 63.6 percent in the first quarter of this year....(read more)

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America's great housing divide: Are you a winner or loser?

America's great housing divide: Are you a winner or loser?<br/>http://ift.tt/1T74ihb...(read more)

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Mortgage Rates Inch Up

Mortgage Rates Inch Up...(read more)

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US economy stalls in first quarter as activity weakens broadly

U.S. economic growth braked sharply to its slowest pace in two years as consumer spending softened and a strong dollar continued to undercut exports....(read more)

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CFPB April 2016 complaint report highlights mortgage complaints, complaints from California consumers

Barbara S. Mishkin The CFPB has issued its April 2016 complaint report which highlights complaints about mortgages and complaints from consumers in California.  The CFPB began taking complaints about mortgages in December 2011. General findings include the following: As of April 1, 2016, the CFPB handled approximately 859,900 complaints nationally, including approximately 26,500 complaints in March 2016.  As... More >...(read more)

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America's 20 Hottest Markets for Real Estate in April 2016

The Midwest is making a comeback, according to realtor.com's new report on the nation's hottest markets-and that's good news for the country overall. The post America’s 20 Hottest Markets for Real Estate in April 2016 appeared first on Real Estate News and Advice - realtor.com ....(read more)

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Fed leaves rates unchanged

Financial markets were not expecting the Federal Open Market Committee to raise rates during its meeting this week....(read more)

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Fisher to Fed: Suck it up and hike

An interest rate hike will cause market pain, but the Federal Reserve should get it over with, Richard Fisher says....(read more)

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U.S. Housing Market Shows Positive Trends

U.S. Housing Market Shows Positive Trends...(read more)

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Wall Street sees divided Fed: Survey

CNBC Fed Survey respondents view the gap on monetary policy views between Yellen and Fischer as significant and growing....(read more)

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Zillow Forecast: Expect Slower Growth in March for the Case-Shiller Indexes

The Case-Shiller house price indexes for February were released yesterday. Zillow forecasts Case-Shiller a month early, and I like to check the Zillow forecasts since they have been pretty close. From Zillow: March Case-Shiller Forecast: Expect the Slowdown to Continue All three headline S&P/Case-Shiller Home Price Indices grew at a slightly slower pace in February compared to January, and the slowdown should extend into March, according to Zillow's March Case-Shiller forecast. The March Case-Shiller National Index is expected to gain another 0.3 percent in March from......(read more)

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The Fed: A Fed comment on outlook would be like ‘shouting in a library'

The Federal Reserve won't say very much in its statement Wednesday because whatever it says would be like shouting in a library, one analyst said....(read more)

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Former Move Execs Defend Actions In Switch to Zillow

A lot of courtroom drama in Seattle two weeks ago when two former realtor.com executives, Errol Samuelson and Curt Beardsley, took the stand in King County Superior Court to defend their handling of computer files when they left the listing site to join rival Zillow.com back in 2014. The executives are defendants in a lawsuit by […]...(read more)

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U.S. Renters Worry More Than Homeowners About Housing Costs

U.S. renters are nearly twice as likely as homeowners to say they worry about not being able to pay their housing costs, 49% to 25%. Renters at all income levels worry more than homeowners....(read more)

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Why Wells Fargo Finally Joined the Bond World's Most Select Club

Why Wells Fargo Finally Joined the Bond World's Most Select Club Bloomberg At a time when Wall Street banks say they're running out of reasons to trade with the U.S. government, Wells Fargo & Co. is jumping into the market. For Wells Fargo, though, it's not so much about dealing with the U.S. itself as it is about the other ......(read more)

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What Gives? Traders Bet Fed Shift on Hold Yet Treasuries Retreat

What Gives? Traders Bet Fed Shift on Hold Yet Treasuries Retreat Bloomberg Traders are betting the Federal Reserve will delay raising interest rates when a two-day policy meeting ends Wednesday, and that ought to be welcome news in the Treasury market. Investors instead have suffered seven straight days of losses, the longest ......(read more)

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The $13 Trillion Question : Managing the U.S. Government's Debt

Brookings Institution Press 2015 135pp. Everyone talks about the size of the U.S. national debt: now at $13 trillion and climbing, but few talk about how the U.S. Treasury does the borrowing—even though it is one of the world’s largest borrowers. Everyone from bond traders to the home-buying public is affected by the Treasury’s decisions about whether to borrow short or long term and what types of bonds to sell to investors. What is the best way for the Treasury to finance the government’s huge debt? Harvard’s Robin Greenwood, Sam Hanson,......(read more)

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What Neighbors Are Complaining About Now: Zombies

A Nashville, TN, couple may have dug their own graves with their homeowners association by placing a zombie sculpture in their front yard. The post What Neighbors Are Complaining About Now: Zombies appeared first on Real Estate News and Advice - realtor.com ....(read more)

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Real Prices and Price-to-Rent Ratio in February

Here is the earlier post on Case-Shiller: Case-Shiller: National House Price Index increased 5.3% year-over-year in February Note: There was an error in the Case-Shiller press release this morning. From the press release : "Fourteen of 20 cities reported increases in February before seasonal adjustment; after seasonal adjustment, only 10 cities increased for the month." The NSA count is correct (14 of 20 cities increased before seasonal adjustment), but the SA number is incorrect. After seasonal adjustment, all 20 cities increased in February (not 10). The year-over-year increase in prices is ......(read more)

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Fed would be crazy to raise rates now

It would be absurd for the Fed to raise rates now, says Stephen Kalayjian. Here's why....(read more)

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'Credit Is a Double-Edged Sword'

When it comes to middle-class financial woes, Mehrsa Baradaran, a law professor and author of How the Other Half Banks, notes the shifts in how lenders and borrowers look at credit: Marquette [ the Supreme Court decision Neal Gabler discusses ] marked a pivotal cultural shift. Not only did it render centuries of interest-rate caps practically meaningless, it de-stigmatized the practice of usury. Usury laws were designed to protect vulnerable borrowers from exploitative lenders trying to profit from their distress. Once the caps were lifted, so was the shame of charging high interest on loans. ......(read more)

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U.S. economy seen growing 0.4 percent in first quarter: Atlanta Fed

NEW YORK (Reuters) - The U.S. economy is growing at a 0.4 percent pace in the first quarter following the latest data on home resales and durable goods orders, the Atlanta Federal Reserve's GDPNow forecast model showed on Tuesday....(read more)

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Consumer confidence hits 94.2 in April, versus 96 estimate

Please check back for updates.. Consumer confidence was expected to hit 96 in April, just under the 96.2 reported for March, according to Thomson Reuters consensus estimates. Click here to track stocks.....(read more)

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Feb home prices up 5.4%: S&P/Case-Shiller

Home prices in 20 U.S. metropolitan cities continued to rise in February, though gains are moderating in a number of urban areas....(read more)

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U.S. durable goods orders rise less than expected

WASHINGTON, April 26 (Reuters) - - Orders for long-lasting U.S. manufactured goods rebounded less than expected in March as demand for automobiles, computers and electrical goods slumped, suggesting the downturn in the factory sector was far from over....(read more)

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Freddie Mac April 2016 Insight

Freddie Mac April 2016 Insight...(read more)

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Fed to Keep Options Open for June Rate Hike: Decision-Day Guide

Bloomberg Fed to Keep Options Open for June Rate Hike: Decision-Day Guide Bloomberg Federal Reserve Chair Janet Yellen and her colleagues will have a chance this week to signal whether they want to raise rates as soon as June. The message is likely to be it's still an option, but far from a certainty. Here's what to expect when the ... and more »...(read more)

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Bond Traders Have Got It All Figured Out as Fed Meets on Rates

Bloomberg Bond Traders Have Got It All Figured Out as Fed Meets on Rates Bloomberg For bond traders, there's little doubt about the path the Federal Reserve will take on interest rates. They aren't fully pricing in another increase until February, while driving a gauge of expected volatility in Treasuries to the lowest since 2014 ... and more »...(read more)

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Yellen to remain dovish: Strategist

Fed Chair Janet Yellen will likely preach caution on future rate hikes, as she did last month, Ameriprise's David Joy says....(read more)

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Fannie Mae Announces Plan to Securitize Reperforming Loans

Fannie Mae plans to begin securitizing reperforming loans held on the company's balance sheet later this year....(read more)

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Flagstar Reports First Quarter 2016 Net Income of $39 million, or $0.54 per Diluted Share

Company posts fifth consecutive quarter of strong, consistent earnings Key Highlights - First Quarter 2016 - Net income increased $6 million, or $0.10 per diluted share, from fourth quarter 2015. - Net interest income rose 4 percent from last quarter, driven by 6 percent increase in average earning assets; average loans held-for-sale rose 17 percent on strong business activity. - Fallout-adjusted locks increased 37 percent to $6.9 billion on higher refinance activity, overcoming normal seasonality of mortgage business. - Credit quality remained solid with lower consumer delinquencies and......(read more)

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US oil slides 2.5 pct as banks warn of bearish forces

U.S. oil fell as banks said a two-month long rebound has defied fundamentals....(read more)

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