Homebuilder stocks tracking for best quarter in more than 2 years

The SPDR S&P Homebuilders ETF is on pace for its best quarter since the fourth quarter of 2014....(read more)

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Fannie, Freddie may write down $21 billion due to tax cut: BMO

NEW YORK (Reuters) - U.S. mortgage finance giants Fannie Mae and Freddie Mac may write down $21 billion of tax-related assets if there is a deep cut in the federal corporate tax rate as promised by President Donald Trump, according to an analyst at BMO Capital Markets on Friday....(read more)

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

Fannie Mae reported that the Single-Family Serious Delinquency rate declined to 1.19% in February, from 1.20% in January. The serious delinquency rate is down from 1.52% in February 2016. This is the lowest serious delinquency rate since March 2008. These are mortgage loans that are "three monthly payments or more past due or in foreclosure".  The Fannie Mae serious delinquency rate peaked in February 2010 at 5.59%. Click on graph for larger image Although the rate is declining, the "normal" serious delinquency rate is under 1%.  The Fannie Mae serious delinquency rate has......(read more)

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Americans Feel More Confident About the Economy

A barrage of U.S. economic data was released this week, including statistics on the state of the housing market, consumer-confidence figures, and numbers that show the spending and income of Americans. The data show that, while Americans might be optimistic about the job market, there could be a gap between economic expectations and economic reality . There's reason for both optimism and caution. For instance, hiring numbers have been fairly steady , and Americans are buying houses despite the Fed's recent interest-rate hike. The S&P/Case-Shiller U.S. national home-price index, which......(read more)

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Fed signals it could promptly start shedding bonds from portfolio this year

NEW YORK (Reuters) - The Federal Reserve could begin shrinking its $4.5-trillion balance sheet as soon as this year, earlier than most economists expect, New York Fed President William Dudley said on Friday in the central bank's most definitive comments on the question that looms over financial markets....(read more)

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Reis: Apartment Vacancy Rate increased in Q1 to 4.3%

Reis reported that the apartment vacancy rate was at 4.3% in Q1 2017, up from 4.2% in Q4, and unchanged from 4.3% in Q1 2016. The vacancy rate peaked at 8.0% at the end of 2009. From Reis: Effective Apartment Rents Decline in 23 of 79 Metros Across the U.S. The National Effective Rent Grew 0.3% in the Quarter, 3.1% over the Year Apartment markets are slowing in 23 metros across the U.S. as indicated by a decline in effective rents in these metros. Effective rents net out landlord concessions which suggests that rents are flat in most of these markets but landlords have boosted free rent and......(read more)

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Dudley thinks the Fed could answer its $4.5 trillion question later this year

Officials have to contend with what do with the bonds the Fed has amassed over the years of monetary policy aimed at juicing the economy....(read more)

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US consumer sentiment disappoints in final March reading

The University of Michigan Consumer Sentiment was expected to stay unchanged from early March's 97.6....(read more)

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Here's how much the average young family has saved for retirement

The Economic Policy Institute breaks down how much typical parents in their 30s have put away....(read more)

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Oil retreats, set to become worst-performing asset in first quarter

LONDON (Reuters) - Oil prices fell on Friday after a three-day rally ran out of steam, promising to notch up the oil market's worst-performing quarter since 2015 as investors fret that growing U.S. supplies are undermining OPEC-led production cuts....(read more)

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Consumer spending posts smallest gain in six months

WASHINGTON, March 31 (Reuters) - U.S. consumer spending barely rose in February amid delays in the payment of income tax refunds, but the biggest annual increase in inflation in nearly five years supported expectations of further interest rate hikes this year....(read more)

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Lack of Homes for Sale is a Problem for Sellers, Too

It might be a seller's market, but for most people who list their home, getting it sold only marks halfway to the finish line. The greatest challenge for home sellers this year is a lack of homes to choose from when they themselves move, according to a survey this month of more than 800 Redfin […] The post Lack of Homes for Sale is a Problem for Sellers, Too appeared first on Redfin Real-Time ....(read more)

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Wells Fargo must face litigation on defective mortgages: U.S. judge

NEW YORK (Reuters) - A federal judge on Thursday said Wells Fargo & Co must face litigation seeking to hold it responsible for billions of dollars of claimed investor losses stemming from its alleged failures as a trustee overseeing risky residential mortgage-backed securities....(read more)

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Fannie Mae Releases February 2017 Monthly Summary ...

News Release. Share This: March 30, 2017. Fannie Mae Releases February 2017 Monthly Summary. Matthew Classick. 202-752-3662. ......(read more)

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Fed is not taking away the punch bowl, just adding ‘a bit more fruit juice,' Dudley says

The U.S. central bank is not taking away the punch bowl from the party but just adding ‘a bit more fruit juice,' said William Dudley, the president of the New York Fed, on Thursday....(read more)

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Fed's Dudley says rate hikes are appropriate to reduce the risk of overheating

Even after the central bank raised rates in March, Dudley said the federal funds rate remains "unusually low."...(read more)

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Fed's Kaplan sees risk Washington could derail the expansion

Dallas Fed President Rob Kaplan said he is wary that new policy could derail the economic expansion by hurting consumer spending or costing jobs....(read more)

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Here's why it's getting harder to ignore rising subprime auto defaults

It's a data point that investors shouldn't overlook, say UBS analysts....(read more)

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Factor in these fees if you're considering a reverse mortgage

Reverse mortgages differ from other types of home-equity loans in a number of ways, one of which is higher costs....(read more)

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Fed's Mester not worried about expected slowdown in first-quarter GDP

Cleveland Fed President Loretta Mester said Thursday any weakness in first quarter GDP will be transitory....(read more)

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Mortgage Rates See Another Significant Decline

Mortgage Rates See Another Significant Decline...(read more)

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CFPB proposes alignment of Regulation B and Regulation C requirements regarding collection of consumer ethnicity and race information

Pavitra Bacon On March 24, the CFPB announced a proposal to amend Regulation B requirements related to the collection of consumer ethnicity and race information, in order to resolve the differences between Regulation B and revised Regulation C.  These proposed rule amendments are effective on January 1, 2018, the same effective date as the 2015 Home Mortgage... More >...(read more)

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Consumers powered fourth-quarter economic growth at faster pace than estimated

The U.S. economy grew at a slightly faster rate in the fourth quarter than earlier estimates, as consumers powered economic momentum heading into 2017....(read more)

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Applications for US unemployment aid fell to 258K last week

First-time claims for benefits were expected to total 248,000 in the most recent week, down from the 261,000 claims reported for the previous week....(read more)

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US stocks open flat after key economic data; oil, Fed speakers in focus

U.S. equities kicked off Thursday trading largely unchanged as investors digested some economic data and kept an eye on oil prices....(read more)

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Senators Warn Against Suspending Fannie, Freddie Dividends

Senators Warn Against Suspending Fannie, Freddie Dividends Bloomberg A bipartisan group of senators told Mel Watt, the regulator who oversees Fannie Mae and Freddie Mac, that he shouldn't allow the companies to recapitalize without congressional approval. Letting the U.S.-controlled mortgage giants build capital buffers ... and more »...(read more)

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America's 20 Hottest Real Estate Markets in March 2017

With homes speeding off the market and prices at a record high, the preliminary realtor.com data for March make it clear that there's no spring break in the real estate market. The post America’s 20 Hottest Real Estate Markets in March 2017 appeared first on Real Estate News & Advice | realtor.com® ....(read more)

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Zillow Forecast: "Case-Shiller national index is forecast to grow 6 percent year-over-year" in February

The Case-Shiller house price indexes for January 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: February Case-Shiller Forecast: Year-Over-Year Price Gains to Continue Annual gains in the S&P CoreLogic Case-Shiller home price indices are expected to maintain their smoking pace in February, while month-over-month gains are expected to slow, according to Zillow's February Case-Shiller forecast. The February Case-Shiller national index is forecast to......(read more)

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Fed's Williams: Don't 'rule out' more than three rate hikes this year

Williams said it's important for others to take the handoff from the Fed, which has been using historically accommodative policy as stimulus....(read more)

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Real estate mogul: This is the biggest mistake house-flippers make

Sean Conlon of "The Deed" says first-time house-flippers should watch out for this common error....(read more)

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Deutsche Bank Said to Eye New Home Lending for Settlement

Deutsche Bank Said to Eye New Home Lending for Settlement Bloomberg Deutsche Bank AG is finding that there just isn't enough soured U.S. mortgage debt anymore. The German bank needs the stuff, after agreeing to provide $4.1 billion of relief to borrowers as part of a larger legal settlement with the U.S. It's already ... and more »...(read more)

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Fed's Rosengren wants four rate hikes this year

Rosengren said four moves should be the Fed's "default" position unless the data dictate that a shift is necessary....(read more)

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Homebuilders struggle to fill jobs 'Americans don't want'

In Denver, homes are taking about two months longer than normal to build because the workforce is slim....(read more)

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Fed's Evans says he supports one or two more rate hikes this year

FRANKFURT (Reuters) - One of the Federal Reserve's most consistent supporters of low interest rates on Wednesday said he is with the majority of his colleagues in supporting further rate hikes this year, given progress on the U.S. central bank's goals of full employment and stable inflation....(read more)

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Fed's Evans says he supports ‘one or two' more interest-rate hikes this year

Chicago Fed President Charles Evans said Wednesday he sees the Fed raising interest rates once or twice more this year....(read more)

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Here's what happens now that the U.K. has triggered Article 50

U.K. Prime Minister Theresa May on Wednesday has invoked Article 50 of the Lisbon Treaty, officially starting the country's withdrawal from the European Union. Here are some expected next steps....(read more)

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Five Tips to Get the Most Cash Out of Your Small Rental Property

By VP Stephen Johnson, Small Balance Loan Business If you own a small multifamily property, it’s good to be a landlord right now. For the better part of a decade, the multifamily market has been delivering lower vacancies and higher rent growth. Post-recession, 2016 was the strongest year yet for the rental market. With the economy nearing full employment and wages continuing to rise, we expect continued growth in demand for multifamily units for the remainder of 2017. Read More...(read more)

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Brexit: Prime Minister May Is Triggering U.K.'s Exit From EU Today

"On today of all days, we should be coming together as a United Kingdom," British Prime Minister Theresa May tells the House of Commons....(read more)

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Spooked by yield rise, ECB wary of changing message again: sources

European Central Bank policymakers are wary of making any new change to their policy message in April after small tweaks this month upset investors and raised the specter of a surge in borrowing costs for the bloc's indebted periphery. One ECB source said the bank has been overinterpreted by markets at its March 9 meeting....(read more)

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KB Home CEO Says Rate Increase Didn't Slow Sales - Bloomberg

Bloomberg KB Home CEO Says Rate Increase Didn't Slow Sales Bloomberg Jeffrey Mezger, president and chief executive officer at KB Home, discusses enjoying a combination of higher demand and prices in the current market and his hopes for regulatory help from the Trump administration. He speaks with Bloomberg's Julie Hyman ......(read more)

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Wells Fargo fails test over 'discriminatory and illegal' practices

Wells Fargo just suffered another black eye....(read more)

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Fed's Fischer says he sees two more rate hikes in 2017

Federal Reserve Vice Chairman Stanley Fischer made his comments in an exclusive interview on CNBC's "Power Lunch" on Tuesday....(read more)

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U.S. House committee approves bill to increase scrutiny of Fed

WASHINGTON (Reuters) - A Republican-controlled committee of lawmakers approved a bill on Tuesday to allow a congressional audit of Federal Reserve monetary policy, a proposal Fed policymakers have opposed and which faces an uncertain path to final approval....(read more)

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Republicans on Obamacare repeal: 'We're going to get it done'

WASHINGTON (Reuters) - House of Representatives Republican leaders said on Tuesday they still intended to repeal and replace Obamacare after their White House-backed bill failed to get enough support and collapsed last week....(read more)

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

Here is the earlier post on Case-Shiller: Case-Shiller: National House Price Index increased 5.9% year-over-year in January 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 1.9% 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 January, the index was up 5.9% YoY. In the earlier post , I graphed nominal house prices, but it......(read more)

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U.S. consumers most confident since 2000

(Reuters) - U.S. consumers' confidence in the economy rose in March to its highest level since December 2000, a survey showed on Tuesday, led by optimism for finding work and a brighter assessment of business conditions....(read more)

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Tax Reform Will Be a Nightmare

"Health care is a very, very complicated issue," Treasury Secretary Steve Mnuchin said last week in an interview with Mike Allen at Axios. "[Tax reform's] a lot simpler." Really? America's health care industry is roughly one-sixth of the economy, or about $3 trillion. U.S. federal tax revenue is roughly one-sixth of the economy, or about $3 trillion. Health care is a complex national cross-subsidy, where, for example, the healthy support the sick. Taxes are a national cross-subsidy, where, for example, workers support retirees. With health care, Americans interact with with an amorphous......(read more)

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Fannie-Freddie Fix Is Focus of Senators' Push Across Party Lines

Bloomberg Fannie-Freddie Fix Is Focus of Senators' Push Across Party Lines Bloomberg In a bitterly partisan Congress, two senators are making a rare push across party lines to solve a persistent riddle with huge implications for the U.S. housing market: What to do with Fannie Mae and Freddie Mac? Aides to Tennessee Republican Bob ... and more »...(read more)

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CFPB settles with consumer reporting agency for alleged UDAAP/FCRA violations

Kim Phan The CFPB announced that it has entered into a consent order with Experian, a consumer reporting agency, for allegedly engaging in the deceptive marketing of credit scores in violation of the Consumer Financial Protection Act's prohibition against unfair, deceptive, or abusive acts or practices.  The consent order also settles allegations that the company displayed advertisements... More >...(read more)

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Freddie Mac March 2017 Outlook

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

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