Trump Names Mortgage Industry Lobbyist to HUD Transition Team

Shawn Krause is executive vice president of government advocacy for Quicken Loans. The post Trump Names Mortgage Industry Lobbyist to HUD Transition Team appeared first on Real Estate News and Advice - realtor.com ....(read more)

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Fed's Mester: Rate hike now would help the economy

Mester has pushed her colleagues to follow up on the December rate hike that was the first in more than nine years....(read more)

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NY Fed: Household Debt Increased Slightly in Q3 2016, Mortgage Delinquency Rates Declined

The Q3 report was released today:  Household Debt and Credit Report . From the NY Fed: Total Household Debt Remains Sluggish Yet Non-Housing Debt Continues Expanding The Federal Reserve Bank of New York today issued its Quarterly Report on Household Debt and Credit , which reported that total household debt increased modestly by $63 billion (a 0.5% increase) to $12.35 trillion during the third quarter of 2016. There were increases across every type of non-housing debt, with a 2.9% increase in auto loan balances, a 2.5% increase in credit card balances, and a 1.6% percent increase in......(read more)

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OPEC reaches agreement to cut oil production to 32.5 million barrels a day: Oil ministers

OPEC has reached a deal to curtail oil production for the first time since 2008, according to several oil ministers....(read more)

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U.S. crude inventories fall unexpectedly, big distillate build: EIA

(Reuters) - U.S. crude oil stockpiles fell unexpectedly last week, while distillate inventories rose sharply, the Energy Information Administration's data showed on Wednesday....(read more)

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Fed's Kaplan advocates rate hike, nods to Trump policies

It is time for an interest-rate increase, Dallas Fed Bank President Robert Kaplan suggested on Wednesday....(read more)

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Consumer spending, income increase in October

WASHINGTON, Nov 30 (Reuters) - - U.S. consumer spending increased less than expected in October as households took advantage of rising incomes to boost savings to a seven-month...(read more)

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Despite Trump criticism, treasury and commerce nominees say Yellen's done 'good' job

President-elect Donald Trump's picks for treasury secretary and commerce secretary were rather complimentary of Federal Reserve Chair Janet Yellen....(read more)

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Freddie Mac November 2016 Outlook

Freddie Mac November 2016 Outlook...(read more)

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U.S. stock futures rise on optimism of big OPEC output cut

(Reuters) - U.S. stock index futures edged up on Wednesday as oil prices soared on optimism of a bigger-than-expected output cut....(read more)

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Reports: Trump Picks Steve Mnuchin To Lead Treasury Department

Mnuchin is a hedge fund CEO and longtime Wall Street banker. His involvement in the spike in foreclosures following the housing market's crash could complicate his confirmation....(read more)

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Bond investors focus on potential OPEC deal; data eyed

U.S. sovereign bond prices were lower on Wednesday morning as investors focused on a possible oil production cut as OPEC debates a deal in a bid to prop up oil prices....(read more)

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Treasuries Having Worst Month Since 2009 on Trump Ripple Effect - Bloomberg

Bloomberg Treasuries Having Worst Month Since 2009 on Trump Ripple Effect Bloomberg Treasuries are having their worst month since 2009 after investors pulled money from the U.S. bond market on speculation Donald Trump's victory in the presidential election will pave the way for increased fiscal stimulus. A Bloomberg Barclays index ... and more »...(read more)

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The 5 Real Estate Trends That Will Shape 2017

The realtor.com housing forecast for 2017 highlights five key trends that are likely to influence home buyers and sellers in the coming year. The post The 5 Real Estate Trends That Will Shape 2017 appeared first on Real Estate News and Advice - realtor.com ....(read more)

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Five out of six models agree: Inflation will have hard time reaching 2% target

The Cleveland Fed said it ran six separate models and all but one say the odds are low that inflation will hit the central bank's 2% target over the next three years....(read more)

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The Future of Housing Desegregation Under Trump

No matter what one thinks of Obama, it's hard to argue with the fact that his administration has done a great deal to further integrate America's neighborhoods. It was while Obama was president that the Department of Housing and Urban Development (HUD) released a new rule requiring cities to analyze racial and financial segregation among their residents. It was Obama's solicitor general, Donald B. Verrilli, Jr. , who filed an amicus brief on the side of fair-housing advocates in Texas Department of Community Affairs v Inclusive Communities , a landmark Supreme Court case about 1968's Fair......(read more)

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Fed's Powell says case for a rate hike has clearly strengthened

Federal Reserve Governor Jerome Powell said Tuesday that the case for a rate hike has clearly strengthened since the central bank's last meeting....(read more)

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Home Prices Jumped in September

The Case-Shiller (CS) National Home Price Index, reported by S&P Dow Jones Indices, jumped in September. The CS Home Price Index rose at a seasonally adjusted annual growth rate of 10.4%, the fastest in the past 36 months. After the deceleration in the beginning of 2016, house prices have accelerated since May due to tight inventory and high demand, reaching... Read More ›...(read more)

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This is the hardest place in America to get a mortgage

Foreign residents and retirees makes this city one of the most expensive housing markets....(read more)

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Freddie Mac Publishes List of Approved eMortgage Vendors

Freddie Mac Publishes List of Approved eMortgage Vendors...(read more)

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Will the CFPB issue a final arbitration rule before Jan. 20?

Alan S. Kaplinsky Last week, the Wall Street Journal reported that the CFPB is pushing to finalize its arbitration rule before Donald Trump’s inauguration as President on January 20.  The comment period on the proposed rule closed on August 22, 2016. The article suggested that the CFPB may also attempt to finalize its rule on payday, title, and... More >...(read more)

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U.S. banks see higher net income, fewer unprofitable lenders: FDIC

WASHINGTON (Reuters) - U.S. banks' net income increased by $5.2 billion, or 12.9 percent, compared to the third quarter of last year as the number of struggling lenders fell, the Federal Deposit Insurance Corporation said....(read more)

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Black Knight Financial Services' First Look at October 2016 Mortgage Data

Black Knight Financial Services' First Look at October 2016 Mortgage Data<br/>http://ift.tt/2gC8gXy...(read more)

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Housing Demand Cooled in October, Dropping to a Three-Year Average

The Redfin Housing Demand Index, based on thousands of Redfin customers requesting home tours and writing offers, declined 3.5 percent from September to a seasonally-adjusted level of 100 in October. A level of 100 represents the historical average for the three-year period from January 2013 to December 2015, meaning that demand in October was at […] The post Housing Demand Cooled in October, Dropping to a Three-Year Average appeared first on Redfin Real-Time ....(read more)

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US third-quarter economic growth revised up to 3.2%

The U.S. economy notched its best performance in two years, buoyed by strong consumer spending and a surge in soybean exports....(read more)

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Case-Shiller: National House Price Index increased 5.5% year-over-year in September

S&P/Case-Shiller released the monthly Home Price Indices for September ("September" is a 3 month average of July, August and September prices). This release includes prices for 20 individual cities, two composite indices (for 10 cities and 20 cities) and the monthly National index. Note: Case-Shiller reports Not Seasonally Adjusted (NSA), I use the SA data for the graphs. From S&P: The S&P CoreLogic Case-Shiller National Index Reaches New High as Home Price Gains Continue The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, covering all nine U.S.......(read more)

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CFPB amends commentary on adjustments to Reg Z, Reg M, higher-priced mortgage loan appraisal exemption thresholds; makes no changes to 2017 exemption thresholds

Barbara S. Mishkin The CFPB has adopted changes to its Reg Z commentary to memorialize the calculation method used each year to adjust the thresholds for exempt consumer credit transactions and for transactions exempt from the special appraisal requirements for higher-priced mortgage loans and to its Reg M commentary to memorialize the calculation method used each year to... More >...(read more)

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Ben Carson as HUD Secretary: What Could It Mean for Housing?

The next HUD secretary will be key in crafting and ushering through policies that could affect the housing market long beyond the next four years. The post Ben Carson as HUD Secretary: What Could It Mean for Housing? appeared first on Real Estate News and Advice - realtor.com ....(read more)

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Black Knight: Mortgage "Foreclosure Starts Hit Lowest Level Since January 2005" in October

Note: There was a report of a "foreclosure spike" in October. This data shows the opposite happened. From Black Knight: Black Knight's First Look at October 2016 Mortgage Data: Foreclosure Starts Hit Lowest Level Since January 2005; Foreclosure Rate Falls Below One Percent for First Time Since July 2007 • October's 56,500 foreclosure starts is the lowest one-month total in nearly 12 years   • Delinquencies see modest seasonal increase in October; still down nine percent from last year   • Active foreclosure inventory continues to improve, just over 500,000 active foreclosure ......(read more)

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Bernanke tells Fed officials to clam up

Former Fed Chairman Ben Bernanke says U.S. central bankers should not talk publicly about what they think the Fed policy committee, as a whole, is going to do....(read more)

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Possible Policy Impacts on Housing

On Friday I posted a few 2017 housing forecasts . I'll add more forecasts soon. Some of these forecasts may be revised due to the Presidential results and also due to the possibility of higher mortgage rates. Here are some preliminary thoughts on several potential issues for housing over the next couple of years: 1) Higher interest rates due to policy changes (tax cuts and more spending).  Higher mortgage rates could slow housing activity.  However, if the tax cuts and more spending lead to more jobs, then that might offset any increase in mortgage rates. 2) Immigration.......(read more)

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Bond Market Carnage: Are US Treasuries Oversold? - Bloomberg Video

Bloomberg Bond Market Carnage: Are US Treasuries Oversold? Bloomberg Kathleen Gaffney, Eaton Vance Management vice president, discusses the outlook for the U.S. bond market with Bloomberg's Scarlet Fu on "Bloomberg Markets." (Source: Bloomberg). Most Recent Videos. Bond Market Carnage: Are U.S. Treasuries Oversold ......(read more)

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Why Donald Trump is going to need Janet Yellen

Trump told CNBC that Yellen should be "ashamed" of the way she has led policy. He may have to sing a different tune....(read more)

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NYC Apartments Experiencing the ‘Fastest Market Adjustment Ever'

The overpriced Manhattan real-estate scene has left some homes lingering on the market for more than four years, prompting huge price cuts. The post NYC Apartments Experiencing the ‘Fastest Market Adjustment Ever' appeared first on Real Estate News and Advice - realtor.com ....(read more)

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CFPB's proposed disclosure rule represents unconstitutional prior restraint on speech

Barbara S. Mishkin The CFPB's proposed amendments to its rule on the disclosure of records and information is the subject of a blog post written by Ballard Spahr attorneys Burt M. Rublin and Daniel L. Delnero for the Washington Legal Foundation. Entitled "CFPB Proposal Unconstitutionally Imposes Prior Restraint on Regulated Entities' Speech,” the blog post focuses on a... More >...(read more)

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Dallas Fed: Regional Manufacturing Activity "Continues to Expand" in November

Note: All regional Fed surveys indicated expansion in November. This is the first time all regional surveys were positive in two years (the decline in oil prices hit some regions hard - like Dallas). From the Dallas Fed: Texas Manufacturing Activity Continues to Expand Texas factory activity increased again in November, according to business executives responding to the Texas Manufacturing Outlook Survey. The production index, a key measure of state manufacturing conditions, posted a fifth consecutive positive reading and edged up to 8.8. ... ... The general business activity index shot up to ......(read more)

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D.C. Circuit orders PHH to respond to CFPB's petition for rehearing en banc; invites response from Solicitor General

Barbara S. Mishkin The D.C. Circuit has entered an order directing PHH Corporation to file a response to the CFPB’s petition for rehearing en banc in CFPB v. PHH Corporation. The order, filed November 23, 2016, requires PHH to file its response within 15 days.  It also invites the Solicitor General to file a response to the petition... More >...(read more)

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An interest rate hike won't be entirely painless, analyst Peter Boockvar says

Raising interest rates could detrimentally affect U.S. debt, says Peter Bookcvar of The Lindsey Group....(read more)

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Black Knight: House Price Index up 0.1% in September, Up 5.4% year-over-year

Note: I follow several house price indexes (Case-Shiller, CoreLogic, Black Knight, Zillow, FHFA, FNC and more). Note: Black Knight uses the current month closings only (not a three month average like Case-Shiller or a weighted average like CoreLogic), excludes short sales and REOs, and is not seasonally adjusted . From Black Knight: Black Knight Home Price Index Report: September 2016 Transactions, U.S. Home Prices Up 0.1 Percent for the Month; Up 5.4 Percent Year-Over-Year  • September's home price movement was relatively flat at the national level, with home prices ticking up just......(read more)

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The 35-year old bull run has been a 'wonderful ride' for investors that's coming to a close

Safe-haven bonds are hitting serious tailwids, Nuveen's Bob Doll explained to CNBC's "On the Money."...(read more)

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There's a Trumpnado in the bond market

Everyone suspected that stocks would be the asset most likely to take a hit in the wake of a Trump victory, but when that didn't happen, it became to time to shift our attention to bonds....(read more)

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Is this the 'Great Rotation'? Some banks think so

The idea of a 'Great Rotation' out of bonds into stocks is again gaining traction....(read more)

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Sri-Kumar Sees Long-End Yield Increase 'Overdone' - Bloomberg Video

Bloomberg Komal Sri-Kumar Sees Long-End Yield Increase 'Overdone' Bloomberg Komal Sri-Kumar, president at Sri-Kumar Global Strategies, discusses the term premium in U.S. Treasuries and looks at how the Federal Reserve's rate path can impact the yield curve. He speaks on "Bloomberg Daybreak: Americas." (Source: Bloomberg) ......(read more)

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First Look: 2017 Housing Forecasts

Towards the end of each year I collect some housing forecasts for the following year.  It looks like analysts are optimistic on New Home sales for 2017, although that might change with higher mortgage rates and policy changes .  I'll post updates as the forecasts change (and add more forecasts soon). First a review of the previous four years ... Here is a summary of forecasts for 2016 . In 2016, new home sales will probably be around 565 thousand, and total housing starts will be around 1.175 million.  Fannie Mae and Merrill Lynch were very close on New Home sales,......(read more)

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No Credit History? No Problem. Lenders Are Looking at Your Phone Data

Bloomberg No Credit History? No Problem. Lenders Are Looking at Your Phone Data Bloomberg Phone carriers and banks have gained confidence in using mobile data for lending after seeing startups show preliminary success with the method in the past few years. Photographer: Chris Ratcliffe/Bloomberg. Financial institutions, overcoming some ... and more »...(read more)

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Five Economic Reasons to be Thankful

With a Hat Tip to Neil Irwin (he started doing this a few years ago) ... here are five economic reasons to be thankful this Thanksgiving ... 1) Low unemployment claims. The number of new claims for unemployment insurance benefits is at the lowest level in 40 years (with a much smaller population back then).  The four week average of new unemployment has fallen to 251,000, down from 297,000 a year ago, and down from the peak of 660,000 during the great recession. Click on graph for larger image. Here is a graph of initial weekly unemployment claims. The dashed line on the graph is the ......(read more)

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Fed policymakers confident of need for rate hikes on eve of Trump win

WASHINGTON, Nov 23 (Reuters) - Federal Reserve policymakers appeared confident on the eve of the U.S. presidential election that the economy was strengthening enough to warrant interest rate increases soon, minutes from the Fed's Nov. 1-2 meeting showed....(read more)

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FOMC Minutes: "Appropriate to raise the target range for the federal funds rate relatively soon"

There are still different views, but most participants think it will be appropriate to raise the Fed Funds rate "relatively soon". (probably means December) From the Fed: Minutes of the Federal Open Market Committee, November 1-2, 2016 . Excerpts: Most participants expressed a view that it could well become appropriate to raise the target range for the federal funds rate relatively soon , so long as incoming data provided some further evidence of continued progress toward the Committee's objectives. Some participants noted that recent Committee communications were consistent with an increase......(read more)

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The 20 Hottest U.S. Real Estate Markets for November 2016

November's data show that it was another month of record-low levels of housing supply, strong demand, and (not coincidentally) record-high prices. The post The 20 Hottest U.S. Real Estate Markets for November 2016 appeared first on Real Estate News and Advice - realtor.com ....(read more)

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It's time for investors to open their eyes to the trouble in bond ETFs

Legendary Ohio State football coach Woody Hayes was a fan of the run game and felt that the passing game had more risks than were worth the reward, which may be the case for bond ETF investors here....(read more)

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