Wells Fargo agrees to $50 million settlement over homeowner fees

NEW YORK (Reuters) - Wells Fargo & Co has agreed to pay $50 million to settle a racketeering lawsuit accusing it of overcharging hundreds of thousands of homeowners for appraisals ordered after they defaulted on their mortgage loans....(read more)

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Virtual Reality: How Tech Is Changing the Way People Buy and Sell Homes

Virtual reality is no longer associated with just gaming. The real estate industry is adopting this evolving technology to help you buy and sell your home in ways never before possible. The post Virtual Reality: How Tech Is Changing the Way People Buy and Sell Homes appeared first on Redfin Real-Time ....(read more)

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U.S. Treasury raises quarterly borrowing estimate by $6 billion

WASHINGTON (MarketWatch) - The U.S. government expects to borrow $188 billion in the October-December quarter, an estimate that is $6 billion higher than previously projected in August, the Treasury Department said Monday. The latest estimate includes an assumption of an end-of-December cash balance of $390 billion. During the January-March quarter, Treasury expects to borrow $56 billion in net marketable debt assuming a cash balance of $100 billion. During the July-September quarter, Treasury borrowed $222 billion in net marketable debt and ended with a cash balance of $353 billion....(read more)

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If Halloween candies were bonds ...

Just like candy, bonds come in a variety of flavors and it takes very bold investors to try them all....(read more)

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Q3 2016 GDP Details on Residential and Commercial Real Estate

The BEA has released the underlying details for the Q3 advance GDP report this morning. The BEA reported that investment in non-residential structures increased at a 5.4% annual pace in Q3.  This is a turnaround from recent quarters when non-residential investment declined due to less investment in petroleum exploration. Investment in petroleum and natural gas exploration still declined in Q3, from a $47.1 billion annual rate in Q2 to a $42.2 billion annual rate in Q3 - and is down from $149 billion in Q3 2014 (down by more than two-thirds). Excluding petroleum, non-residential......(read more)

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Quantitative Easing Did Not Ease The Housing Crisis For The Neediest Households

Another tool to stimulate a distressed economy has made its way into the playbooks of central banks across the world. With quantitative easing, known as QE for short, a central bank makes it easier to borrow money by buying long-term assets and driving down interest rates. In the wake of the 2008 financial crisis, for example, the Federal Reserve orchestrated multiple rounds of QE. In the initial round, QE1, the Fed bought $1.25 trillion in mortgage-backed securities and $300 billion in Treasury bonds. During QE2, the Fed purchased almost $900 billion in Treasury bonds but no......(read more)

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Traders see remote chance of Fed rate hike this week

NEW YORK (Reuters) - Traders on Monday placed a low probability the Federal Reserve would raise interest rates at its policy meeting later this week amid mixed economic data and ahead of the U.S. presidential election, according to interest rates futures....(read more)

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Atlanta Fed sees U.S. economy seen expanding at 2.7 percent

NEW YORK (Reuters) - The U.S. economy is on track to grow at a 2.7 percent annualized pace in the fourth quarter, the Atlanta Federal Reserve's GDP Now forecast model showed on Monday....(read more)

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First-time Buyers, Single Women Gain Traction in NAR's 2016 Buyer and Seller Survey

WASHINGTON (October 31, 2016) — The quickening pace of home sales over the past year included a small rebound from two key segments of buyers who have been missing in action in recent years: first-time buyers and single women. This is according to the National Association of Realtors® ' annual Profile of Home Buyers and Sellers , which also found that for-sale-by-owner transactions remained at an all-time low of 8 percent for the second straight year. Nearly 90 percent of all respondents worked with a real estate agent to buy... Read More...(read more)

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Home Depot, Lowe's downgraded by Piper as fewer homeowners plan to renovate

Piper says its survey of homeowners found 47 percent plan to raise home improvement spending, down from the April survey....(read more)

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Black Knight Home Price Index Report: August 2016 Transactions

Black Knight Home Price Index Report: August 2016 Transactions<br/>http://ift.tt/2eehAyK...(read more)

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U.S. consumer spending increases solidly, inflation rising

WASHINGTON, (Reuters) - U.S. consumer spending rose more than expected in September as households boosted purchases of motor vehicles and inflation increased steadily, which could bolster expectations of an interest rate hike from the Federal Reserve in December....(read more)

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Bob Doll Says October's Bond Rout Means U.S. Economy Improving

Bloomberg Bob Doll Says October's Bond Rout Means U.S. Economy Improving Bloomberg Treasuries fell the most in October in 20 months. Bob Doll at Nuveen Asset Management says the bright side is that the 1.2 percent loss reflects an improving U.S. economy. "I like the fact that interest rates are moving up a little bit," Doll, who has ... and more »...(read more)

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Opportunity Knocks in the Best Cities for Home Flippers

Our data team crunched numbers to find out where home flipping is the hottest right now-and how to add value to your flip! The post Opportunity Knocks in the Best Cities for Home Flippers appeared first on Real Estate News and Advice - realtor.com ....(read more)

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Central banks, US election uncertainty dominate sentiment in US bond markets

U.S. government debt prices were slightly higher as investors digested the latest news surrounding the U.S. election and prepared for more central bank news....(read more)

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Fed expected to tee up December interest-rate hike

The Federal Reserve is expected to stand pat at its meeting next week but stress it is prepared to raise interest rates in December....(read more)

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Bond World Bloodied by Biggest Losses Since 2013 in Global Rout

Bloomberg Bond World Bloodied by Biggest Losses Since 2013 in Global Rout Bloomberg After all central bankers have done since the financial crisis to prop up bond prices, it didn't take much for them to send the global debt market reeling. Bonds worldwide have lost 2.9 percent in October, according to the Bloomberg Barclays Global ... and more »...(read more)

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Why Homebuilders Can't—or Won't—Meet Housing Demand

If there are people looking to - and able to - buy, why won't builders build? The post Why Homebuilders Can't-or Won't-Meet Housing Demand appeared first on Redfin Real-Time ....(read more)

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Consumer sentiment hits 87.2 in October vs. 88.2 estimate

Economist expect the Index of Consumer Sentiment to hit 88.2 in October, down from 91.2 in September....(read more)

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Rate Hike Fear Pushes High-Yield Bond ETF Over a Cliff

Bloomberg Rate Hike Fear Pushes High-Yield Bond ETF Over a Cliff Bloomberg Right before Halloween, investors got scared by interest rate risk. Outflows from the iShares iBoxx High Yield Corporate Bond exchange-traded fund (HYG), the top ranked ETF by assets in the junk bond market, set a new record on Thursday-almost ......(read more)

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Exports boost US growth in third quarter as consumer spending slows

The U.S. economy grew at its fastest pace in two years as a surge in exports and a rebound in inventory investment offset a slowdown in spending....(read more)

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U.S. labor costs increase 0.6 percent in third quarter

WASHINGTON (Reuters) - U.S. labor costs maintained a steady pace of increase in the third quarter, showing little signs of a significant pickup in wage inflation....(read more)

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US GDP data in the spotlight for US bond markets; Fed eyed

U.S. government debt prices were under pressure on Friday, as bond investors shifted their attention to the all-important U.S. GDP data due out....(read more)

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‘Shadow Banks' Are on the Rise for Home Loans: Should We Be Afraid?

More mortgages are being issued by "shadow banks," which are not traditional financial institutions. So what are they, and should borrowers be scared? The post ‘Shadow Banks' Are on the Rise for Home Loans: Should We Be Afraid? appeared first on Real Estate News and Advice - realtor.com ....(read more)

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

Freddie Mac reported that the Single-Family serious delinquency rate declined in September to 1.02%, down from 1.03% in August.  Freddie's rate is down from 1.41% in September 2015. This is the lowest rate since July 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".  Click on graph for larger image Although the rate is generally declining, the "normal" serious delinquency rate is under 1%.  The Freddie Mac serious delinquency rate has fallen 0.39......(read more)

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CFPB sending HMDA warning letters

Richard J. Andreano, Jr. The CFPB announced that it is issuing warning letters to 44 mortgage lenders and mortgage brokers stating that it “has information that appears to show that your company may not be in compliance with certain provisions of the Home Mortgage Disclosure Act (HMDA) and its implementing regulation, Regulation C.” According to the CFPB’s press release, the... More >...(read more)

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Further proof that home-buying is increasingly for the wealthy

The proportion of new homes with three-car garages hit an all-time high last year....(read more)

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Barclays Is Trying to Cap U.S. Mortgage Penalty at $2 Billion

Bloomberg Barclays Is Trying to Cap U.S. Mortgage Penalty at $2 Billion Bloomberg Barclays Plc is trying to draw a line at $2 billion in penalties to settle a U.S. investigation into its sale of mortgage securities after it received an opening offer that it considered too high, according to a person with knowledge of the situation ... and more »...(read more)

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Here's why it seems like bond yields are rising across the whole world today

Global bond yields are rising at a rapid clip as traders try to adjust to the idea of a world that isn't flush with easy money from Central Banks....(read more)

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Homeownership crawls back up from 50-year low

After falling to the lowest level in 50 years, the U.S. homeownership rate bounced up slightly in the third quarter of this year....(read more)

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Composition of New Home Sales Financing Shifts in Third Quarter

NAHB analysis of the most recent Census estimates concerning sources of financing for new home sales reveals that the composition of mortgages by financing method shifted over the third quarter of 2016. The share of new home sales financed with conventional loans expanded at the expense of FHA-insured and VA-backed mortgages. The shift to conventional mortgages indicates continued return to health in the... Read More ›...(read more)

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How Utilities AffectYour Homes Affordability

While the price of a home may look like a steal, the utilities may change that opinion....(read more)

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US core capital goods orders unexpectedly fall in September

Durable goods orders unexpectedly fell, which could temper expectations for an acceleration in business spending in the fourth quarter....(read more)

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Hamptons Home Prices Fall the Most Since 2013

Bloomberg Hamptons Home Prices Fall the Most Since 2013 Bloomberg Home prices in New York's Hamptons fell the most in almost three years as buyers in the beachfront towns sought out less-expensive properties and shunned the middle of the market, priced from $1 million to $5 million. Homes in the area, a second-home ... and more »...(read more)

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Treasury Selloff Is About to End If Consensus Forecast Is Right

Bloomberg Treasury Selloff Is About to End If Consensus Forecast Is Right Bloomberg A second-half selloff in the world's biggest bond market is coming to an end, judging by the forecasts from 65 economists. Treasury 10-year yields have risen about 22 basis points to 1.82 percent in October as investors prepared for the Federal Reserve ... and more »...(read more)

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Gilt Yields Jump to Most Since Referendum as GDP Shifts BOE Bets

Bloomberg Gilt Yields Jump to Most Since Referendum as GDP Shifts BOE Bets Bloomberg U.K. government bonds fell, sending yields to the highest since Britons voted to leave the European Union, as investors reassessed the future path of monetary policy following a report that showed third-quarter growth exceeded economist estimates ... and more »...(read more)

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Blackstone profit rises on real-estate exits

Blackstone Group LP's third-quarter profit rose as its private equity, real estate and credit holdings appreciated, amid a strong period for global markets and big asset managers. For the period ended Sept. 30, the New York private-equity firm reported a profit of $312.9 million, or 47 cents a share, versus a year-earlier loss of $254.7 million, or 40 cents a share....(read more)

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America's 20 Hottest Real Estate Markets for October 2016

Continuing a record-breaking year, demand for real estate in October remained strong for the season despite eerily high prices and scarily low levels of supply, according to new data on inventory and demand on realtor.com®. The post America's 20 Hottest Real Estate Markets for October 2016 appeared first on Real Estate News and Advice - realtor.com ....(read more)

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The Fed May Not Have a Magic Number for Hike Bets: Strategists

Bloomberg The Fed May Not Have a Magic Number for Hike Bets: Strategists Bloomberg The Federal Reserve may not be so worried about getting markets' buy-in for a rate hike. Last year, as the Fed was looking to get off the zero lower interest-rate bound for the first time in years, former U.S. Treasury Secretary Larry Summers observed ... and more »...(read more)

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Freddie Mac Issues Monthly Volume Summary for September 2016

Freddie Mac Issues Monthly Volume Summary for September 2016...(read more)

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Cordray remarks to MBA signal continued CFPB focus on servicing, likely petition for rehearing in PHH case

Richard J. Andreano, Jr. In his remarks at the Mortgage Bankers Association’s annual meeting in Boston on October 25, Director Cordray signaled that mortgage servicing will continue to be a focus of CFPB supervisory and enforcement activity, with the CFPB taking a rigorous approach to compliance.   While noting that the CFPB has seen “some progress” in compliance with CFPB... More >...(read more)

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‘High pressure economy' may punish both stocks and bonds in 2017

The ‘high pressure economy' proposed by Federal Reserve Chairwoman Janet Yellen may not have any repercussions this year, but it could have the effect of depressing both stocks and bonds in the next, something which hasn't happened in nearly 50 years....(read more)

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Zillow Forecast: Expect "Modest Acceleration" in YoY Growth in September for the Case-Shiller Indexes

The Case-Shiller house price indexes for August 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: September Case-Shiller Forecast: Modest Acceleration in Home Price Growth Will Continue According to Zillow's September Case-Shiller forecast, the national index and both smaller 10 and 20-city indices look set to continue the acceleration in home price growth they exhibited in August. And after more than two years of steady growth around 5 percent annually, the U.S. National......(read more)

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First-Time Buyers Find Fewer New Homes to Choose From

There were fewer more affordably priced, newly constructed homes sold in September, according to a recently released report. The post First-Time Buyers Find Fewer New Homes to Choose From appeared first on Real Estate News and Advice - realtor.com ....(read more)

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Housing bubble fears have returned

Home prices kept rising in August and September in most major American cities. That's great news for people looking to sell....(read more)

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A few Comments on September New Home Sales

New home sales for September were reported below the consensus forecast at 593,000  on a seasonally adjusted annual rate basis (SAAR). And the three previous months were all revised down significantly. However, sales were up 29.8% year-over-year in September, and this is the best month for September (NSA) since 2007. And sales are up 13.0% year-to-date compared to the same period in 2015. The glass is more than half full.  This is very solid year-over-year growth. Earlier: New Home Sales at 593,000 Annual Rate in September . Click on graph for larger image. This graph shows......(read more)

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CoreLogic Data Shows 1.8 Million Homes in 13 Western US States at Severe Risk of Wildfire

—California has the most homes at risk and the highest reconstruction cost value— According to new data released today by CoreLogic ® , 1.8 million single-family homes across 13 states in the western U.S. are currently designated as Extreme or High risk of wildfire damage, representing a combined total reconstruction cost value (RCV) of almost $500 billion. An additional 27 million properties, with an estimated RCV of $6.7 trillion, fall into the Moderate or Low risk category. The CoreLogic Wildfire Risk analysis designates risk levels as Extreme , High , Moderate......(read more)

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Utility bills can be a big shocker when you buy a home

If you're in the market for a home, utility bills could make a bargain property unaffordable, according to new data from Trulia....(read more)

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Caterpillar's Q3 Earnings Results Put Economy on Watch

Caterpillar lowered its outlook for profit this year, a sign of the well-being of the global industrial economy....(read more)

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How the Fed could pull a November surprise

The Fed meeting next week is widely expected to be a snoozer, but there is a way the Fed could wake up markets....(read more)

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