Read President Trump's full prepared remarks for his first address to Congress

Read the president's full prepared remarks....(read more)

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Trump calls for 'merit-based' immigration system in address to Congress

President Donald Trump is speaking before a joint session of Congress on Tuesday....(read more)

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The Fed: Fed's Bullard sounds cool to idea of March interest-rate hike

St. Louis Fed President James Bullard on Tuesday said the U.S. central bank could afford to be patient on interest rate hikes....(read more)

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Trump talks up taxes at the border — but again provides no specifics

President Donald Trump is speaking before a joint session of Congress on Tuesday....(read more)

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Freddie Mac: Mortgage Serious Delinquency rate falls below 1.0% in January, Lowest since June 2008

Freddie Mac reported that the Single-Family serious delinquency rate in January was at 0.99%, down from 1.00% in December.  Freddie's rate is down from 1.33% in January 2016. Freddie's serious delinquency rate peaked in February 2010 at 4.20%. This is the lowest serious delinquency rate since June 2008. 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 declining, the "normal" serious delinquency rate is under 1%. Maybe the rate will decline another 0.25 percentage points or so......(read more)

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Amazon S3 Outage Has Broken A Large Chunk Of The Internet

Amazon is best known as an online retailer that sells just about anything you can think of. However, it also runs a massive web hosting service called Amazon S3, which stands for Simple Storage Service (a part of Amazon Web Services). A huge number of websites store content and run services with Amazon S3, and Amazon is currently reporting "high error rates." That means a lot of things are broken....(read more)

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Fed's Williams says there will be ‘serious consideration' of interest rate hike at March meeting

An interest-rate hike ‘is on the table for serious consideration' at the upcoming March 14-15 policy meeting, said San Francisco Fed President John Williams Tuesday....(read more)

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Trump tax plan, not even on drawing board, is already roiling rental housing

In anticipation of tax reform, investors across the country have been discounting the value of the tax credits to build affordable housing by about 10%, hurting rental housing construction....(read more)

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Trump May Weigh In On H-1B Visas, But Major Reform Depends On Congress

President Trump has said he wants to crack down on abuses and protect American workers. But it's Congress that holds the power to fundamentally reform the program, and work there is underway....(read more)

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Real House Prices and Price-to-Rent Ratio in November

Here is the earlier post on Case-Shiller: Case-Shiller: National House Price Index increased 5.8% year-over-year in December It has been more than ten years since the bubble peak. In the Case-Shiller release this morning, the seasonally adjusted National Index (SA), was reported as being 1.4% above the previous bubble peak. However, in real terms, the National index (SA) is still about 14.5% below the bubble peak. The year-over-year increase in prices is mostly moving sideways now just over 5%. In December, the index was up 5.8% YoY. In the earlier post , I graphed nominal house prices, but......(read more)

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Everything to Know About Buying a Home Without a Real Estate Agent

While it may not be for everyone, buying a home without a real estate agent is possible. Here's what you should know. The post Everything to Know About Buying a Home Without a Real Estate Agent appeared first on Redfin Real-Time ....(read more)

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State Corporate Income Tax Rates

Some states are simply better to do business in than others when it comes to corporations and taxes. In Iowa, for example, a corporation owes the states 12 percent of their profits – the highest corporate income tax rate in the country. The Tax Foundation, a non-profit located in Washington, D.C., just released their study … Read more...(read more)

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Wells Fargo Commits to Increase African American Homeownership

Wells Fargo Commits to Increase African American Homeownership<br/>http://ift.tt/2mprK4Y...(read more)

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Why It's So Hard to Build the Next Silicon Valley

Bloomberg Why It's So Hard to Build the Next Silicon Valley Bloomberg Google brought its high-speed internet to Kansas City, but it didn't turn the city into a tech paradise. Outside Brandon Schatz's home and office located within the Kansas City Startup Village. Photographer: Barrett Emke/Bloomberg. by. Sarah McBride. and more »...(read more)

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Consumer confidence hits best level since July 2001

Consumers' assessment of current conditions in the US increased in February....(read more)

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Freddie Mac February 2017 Outlook

Freddie Mac February 2017 Outlook...(read more)

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The Redfin Housing Demand Index Continued Record Climb in January

The Redfin Housing Demand Index increased 6.5 percent from the previous month to a seasonally adjusted level of 130 in January. This marks the highest level recorded since January 2013, the first month measured by the Redfin Demand Index. The Demand Index is based on thousands of Redfin customers requesting home tours and writing offers. […] The post The Redfin Housing Demand Index Continued Record Climb in January appeared first on Redfin Real-Time ....(read more)

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House Financial Services chairman sees Dodd-Frank reform this year

WASHINGTON (Reuters) - Reform of Wall Street rules and consumer protects imposed after the 2008 financial crisis is likely this year, and much of the law could be undone through a number of ways, the Republican chairman of a key House of Representatives committee said....(read more)

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JPMorgan expects 2017 expenses to rise about 3.4 percent

(Reuters) - JPMorgan Chase & Co said it expected 2017 expenses to rise about 3.4 percent as the lender spends more on technology and signing up new credit card accounts....(read more)

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March Hike Suddenly Real for Traders Ahead of Trump Speech

Bloomberg March Hike Suddenly Real for Traders Ahead of Trump Speech Bloomberg The bond market woke up to the idea the Federal Reserve could raise interest rates in just over two weeks. Fed Chair Janet Yellen and her colleagues have been warning that every meeting is "live," including the March 14-15 session. Yet traders remained ... and more »...(read more)

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Merrill: "The undocumented economy"

A few excerpts from a Merrill Lynch research note: The undocumented economy Let's consider three scenarios: 1.Improved border security and more aggressive deportations that lower the number of undocumented workers by 200,000 per year. This could be achieved by increasing annual deportations from about 400,000 to 500,000 and stopping 100,000 more people per year at the border. 2. Cut the number of undocumented workers in half over a four year period through tougher enforcement. 3. Effectively eliminate all undocumented workers over a four year period. ... In the first scenario the economic......(read more)

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The Fed will lead the market, not follow, if this one key point comes in, El-Erian says

This is the key thing to watch for that will push the Fed to hike rates, Allianz's Mohamed El-Erian says....(read more)

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Do Consumers Rely More Heavily on Credit Cards While Unemployed?

Previous literature has shown that a consumer's payment preferences are correlated with his or her demographic profile and finances. Age, education, employment status, income, credit limits, asset holdings, and a variety of other factors can all contribute to a consumer's payment. Additionally, there is evidence that expectations about the future state of these factors can contribute to a consumer's use of available payment instruments. This report assesses how households change their use of credit cards during periods of unemployment. This issue has important policy implications. The way......(read more)

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The Fed: Odds of March Fed interest-rate hike spike above 50%

Odds of a March interest-rate hike rose above 50% Monday after Dallas Fed President Rob Kaplan spoke to reporters....(read more)

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Markets are beginning to brace for a March Fed rate hike

Just as Washington is gearing up to goose the economy, the Fed could be teeing up an interest rate increase....(read more)

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Tepper, Buffett join chorus of bulls betting on unrelenting stock-market climb

Hedge-fund billionaire David Tepper joins Warren Buffett on the list of high-profile investors who are bullish on equities. Tepper told CNBC on Monday that he remains long stocks and expects the prices of bonds to fall, pushing yields higher....(read more)

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Why Wealthy Condo Owners Haven't Paid Their Taxes

Owners of some of the priciest real estate in Manhattan owe New York City more than $100,000 each in back real estate taxes, and they have some amazing excuses. The post Why Wealthy Condo Owners Haven’t Paid Their Taxes appeared first on Real Estate News & Advice | realtor.com® ....(read more)

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Trump's first budget proposal will call for $54 billion increase in defense spending

Under Trump's proposal, most federal agencies will face budget reductions....(read more)

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U.S. core capital goods orders unexpectedly fall in January

WASHINGTON, (Reuters) - - New orders for U.S.-made capital goods unexpectedly fell in January after three straight months of strong gains, but did little to change views that...(read more)

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Pending home sales drop unexpectedly to lowest in a year, down 2.8% in January

Higher mortgage rates and near record low supply resulted in disappointing home sales to start the year....(read more)

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'Bond King' Gundlach expects US 10-year T-note yield to drop below 2.25%

Jeffrey Gundlach said he expects the yield on the benchmark 10-year U.S. Treasury note to drop below 2.25 percent as global investors seek safety....(read more)

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The Bond Market Is Calling Yellen's March Rate Hike Bluff

Bloomberg The Bond Market Is Calling Yellen's March Rate Hike Bluff Bloomberg For weeks now, everyone from Janet Yellen to Fed newcomer Patrick Harker has been trying to jawbone investors into believing an interest-rate increase in March is on the table. That the meeting is "live." Primary Dealers' Fed Forecasts. Source: Bloomberg. and more »...(read more)

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US Treasuries Might Finally Be Ready to Stage a Breakaway

Bloomberg US Treasuries Might Finally Be Ready to Stage a Breakaway Bloomberg U.S. Treasury yields may break out of a two-month holding pattern as the tug-of-war between bulls and bears is decisively settled by President Donald Trump's speech to Congress next week and a slew of upcoming data. The skew between payers and ... and more »...(read more)

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Fannie Mae secures commitments for credit transfer deal

(Reuters) - Fannie Mae said on Friday it secured commitments for a second transaction under which the U.S. mortgage finance agency will transfer some credit risk to reinsurers on $15 billion worth of single-family home loans it plans to buy from lenders....(read more)

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A few Comments on January New Home Sales

New home sales for January were reported at 555,000 on a seasonally adjusted annual rate basis (SAAR).  This was below the consensus forecast, and the three previous months were all revised down.  So overall this was a disappointing report. Sales were up 5.5% year-over-year in January,  However, January and February were the weakest months last year on a seasonally adjusted annual rate basis - so this was an easy comparison. Note that these sales (for January) occurred after mortgage rates increased following the election.  As I've noted before, interest......(read more)

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Yellen will be last Fed official to speak before central bank makes rate decision

Fed Chief Janet Yellen is scheduled to speak one day before the Fed goes silent ahead of its March 14-15 meeting. If Yellen talks up a rate hike, the market could price it in....(read more)

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US consumer sentiment remains slightly below the decade peak record in February

The University of Michigan's Consumer Sentiment Index to hit 96.3 in February....(read more)

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Americans believe robots will take everyone else's jobs, but theirs will be safe

A new survey reveals that most people think their industries won't be affected by AI....(read more)

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U.S. new home sales increase less than expected in January

WASHINGTON (Reuters) - New U.S. single-family home sales rose less than expected in January but continued to point to a strengthening housing market despite higher prices and mortgage rates....(read more)

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Citi sees a 20% chance of Le Pen winning which could 're-ignite a fully-fledged sovereign debt crisis'

A presidential election win for far-right anti-establishment candidate Marine Le Pen in France would cause turmoil in the country's corporate sector, according to analysts from Citi....(read more)

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For millennials ready to buy a home, the pickings are slim

Low housing inventory, especially for starter homes, is one factor....(read more)

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Trump Rally's Prospects 'Not Looking Too Hot,' Bond Manager Says

Bloomberg Trump Rally's Prospects 'Not Looking Too Hot,' Bond Manager Says Bloomberg Krishna Memani, chief investment officer at OppenheimerFunds, explains why the U.S. government must deliver on fiscal stimulus expectations in order to jump start economic growth. He speaks on 'Bloomberg Markets.' (Source: Bloomberg). The stock market ... and more »...(read more)

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Construction stocks slide amid report that US infrastructure spending won't come until next year

Several construction stocks did not fare well Thursday....(read more)

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Update on lack of Chinese Residential Real Estate Buyers

A few weeks ago I wrote Some Random Concerns and Observations ... . One of my concerns was that stricter capital controls in China would negatively impact certain U.S. real estate markets. After that post, I spoke to an excellent source in San Marino (high end area of Los Angeles), and he told me that some Chinese owners were looking to sell (impacting prices). Here is an article today from David Pierson at the LA Times: Mega-mansions in this L.A. suburb used to sell to Chinese buyers in days. Now they're sitting empty for months The turnaround in activity, industry officials say, is directly ......(read more)

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How Mnuchin's comments dinged the dollar

Treasury Secretary Mnuchin didn't take sides on a controversial tax plan, but currency traders thought he did....(read more)

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Claims for Jobless Benefits in US Point to Firm Job Market

Claims for Jobless Benefits in US Point to Firm Job Market Bloomberg The number of Americans filing for unemployment benefits increased last week, while staying within a range that shows subdued firings. Jobless claims rose by 6,000 to 244,000 in the week ended Feb. 18, a report from the Labor Department showed ... and more »...(read more)

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Continued Uncertainty Causes Mortgage Rates to Hold

Continued Uncertainty Causes Mortgage Rates to Hold...(read more)

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Morgan Stanley says housing recovery still in 'middle innings,' upgrades Home Depot to overweight

Morgan Stanley upgraded Home Depot to overweight on Thursday, citing the potential for the housing market to improve....(read more)

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Stable Growth Expected for Commercial Real Estate in 2017

WASHINGTON (February 23, 2017) — Steered ahead by strengthening demand in smaller markets, the commercial real estate sector should remain on stable ground in 2017 and offer decent returns for investors, according to the latest National Association of Realtors® quarterly commercial real estate forecast . National office vacancy rates are forecast by Realtors® to retreat 1.1 percent to 12.1 percent over the coming year as job growth in business and professional services brings increased need for office space. The... Read More...(read more)

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Mnuchin Super-Long Chatter Sends Treasury Yield Curve Steeper

Bloomberg Mnuchin Super-Long Chatter Sends Treasury Yield Curve Steeper Bloomberg Treasury Secretary Steven Mnuchin whet the appetites of investors who long for a super-long bond, steepening the U.S. yield curve as duration-starved speculators bet the idea he first floated last year isn't dead. Issuance of 50- or 100-year Treasury ... and more »...(read more)

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