Fannie Mae: Mortgage Serious Delinquency rate declined in April, Lowest since January 2008

Fannie Mae reported that the Single-Family Serious Delinquency rate declined to 1.07% in April, from 1.12% in March. The serious delinquency rate is down from 1.40% in April 2016. This is the lowest serious delinquency rate since January 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......(read more)

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Fed's Kaplan Sticks to Rate Forecast Despite Inflation Weakness - Bloomberg

Bloomberg Fed's Kaplan Sticks to Rate Forecast Despite Inflation Weakness Bloomberg Federal Reserve Bank of Dallas President Robert Kaplan is sticking to his outlook for two more interest-rate increases this year, even as he acknowledged recent declines in U.S. core inflation. "I am concerned," Kaplan told reporters Wednesday ... and more »...(read more)

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A region-by-region breakdown of where the Fed sees the economy now

The U.S. economy continued to grow a steady, if sluggish, pace from early April through late May, according to the Federal Reserve's latest survey....(read more)

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U.S. economy ambles on but few signs of inflation pressures: Fed

WASHINGTON (Reuters) - The U.S. economy expanded at a modest to moderate pace from early April through late May but showed little sign of breaking out of a recent trend of sluggish inflation, a survey conducted by the Federal Reserve showed on...(read more)

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Financial Institution Regulatory Agencies Issue Advisory on Appraiser Availability

Press Release Financial Institution Regulatory Agencies Issue Advisory on Appraiser Availability FOR IMMEDIATE RELEASE May 31, 2017 Joint Release WASHINGTON-Responding to concerns over the limited availability of state-certified and -licensed appraisers, particularly in rural areas, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration, and the Office of the Comptroller of the Currency today issued an advisory that highlights two options to help insured depository institutions and bank holding companies......(read more)

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Pending home sales drop 1.3% in April as spring housing market shows weakness

Pending home sales had last slipped 0.8 percent in March, the National Association of Realtors reported last month....(read more)

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Here's how long it will take millennials to afford to buy a home nationwide

80 percent of millennials would like to become homeowners but few can afford to buy....(read more)

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NY Real Estate Developer Pleads Guilty to Interfering in Local Election

Kenneth Nakdimen was trying to advance stalled construction projects....(read more)

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US Treasurys lower as bond investors eye Fed news, data

U.S. government debt prices edged lower Wednesday, as investors geared up for the release of the Fed's Beige Book, along with speeches from Fed officials....(read more)

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US Economic Confidence Index Stable at +3

Americans' confidence in the U.S. economy remains slightly positive, with Gallup's U.S. Economic Confidence Index registering +3 for the week ending May 28....(read more)

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Brainard sees U.S. rate hikes but eyeing soft inflation

NEW YORK (Reuters) - A U.S. interest-rate hike is probably coming soon though the Federal Reserve may want to delay if recently soft inflation readings continue, an influential Fed governor said on Tuesday, adding she also backs shrinking the central bank's bond portfolio "before too long."...(read more)

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

Here is the earlier post on Case-Shiller: Case-Shiller: National House Price Index increased 5.8% year-over-year in March 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 2.4% above the previous bubble peak. However, in real terms, the National index (SA) is still about 13.8% below the bubble peak. The year-over-year increase in prices is mostly moving sideways now just over 5%. In March, the index was up 5.8% YoY. In the earlier post , I graphed nominal house prices, but it is......(read more)

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Atlanta Fed raises U.S. second-quarter GDP growth view to 3.8 percent

NEW YORK (Reuters) - The U.S. economy is expected to grow at a 3.8 percent annualized pace in the second quarter based on a report that showed an increase in personal spending in April, the Atlanta Federal Reserve's GDP Now forecast model showed on Tuesday....(read more)

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As Fed Readies Rate Rise, Inflation Slips Further From Its Goal - Bloomberg

Bloomberg As Fed Readies Rate Rise, Inflation Slips Further From Its Goal Bloomberg The worst of the price war in the U.S. mobile-phone market may be over. But the lurch down in inflation it helped trigger is not. The Federal Reserve's preferred price measure rose 1.7 percent in April from a year ago, down from 1.9 percent in March ... and more »...(read more)

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US consumer confidence hits 117.9 in May vs expectation of 119.8

The index last fell to 120.3 in April, according to monthly data from The Conference Board....(read more)

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Redfin Housing Demand Index Ticks Back Up as Prime Selling Season Commences

The Redfin Housing Demand Index increased 9.2 percent from March to a seasonally adjusted level of 121 in April. The post Redfin Housing Demand Index Ticks Back Up as Prime Selling Season Commences appeared first on Redfin Real-Time ....(read more)

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Consumer spending rises; monthly inflation rebounds

WASHINGTON, May 30 (Reuters) - U.S. consumer spending recorded its biggest increase in four months in April and monthly inflation rebounded, pointing to firming domestic demand early in the second quarter that could allow the Federal Reserve to raise interest rates next month....(read more)

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ECB to discuss closing door to extra stimulus next week: Sources

European Central Bank policymakers are set to take a more benign view of the economy, four sources told Reuters....(read more)

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Personal Income increased 0.4% in April, Spending increased 0.4%

The BEA released the Personal Income and Outlays report for April: Personal income increased $58.4 billion (0.4 percent) in April according to estimates released today by the Bureau of Economic Analysis. ... personal consumption expenditures (PCE) increased $53.2 billion (0.4 percent). ... Real PCE increased 0.2 percent. The PCE price index increased 0.2 percent. Excluding food and energy, the PCE price index increased 0.2 percent. The April PCE price index increased 1.7 percent year-over-year and the April PCE price index, excluding food and energy, increased 1.5 percent year-over-year. The......(read more)

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Outside the Box: Fed's Kashkari is wrong about the housing bubble

Market tops are apparent to anyone willing to see them, writes John Coumarianos....(read more)

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Black Knight: House Price Index up 1.3% in March, Up 5.8% 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: U.S. Home Prices Hit Another New Peak, Rising 1.3 Percent for the Month, Up 5.8 Percent Year-Over-Year • At $272K, the national-level HPI continued its upward trend, hitting another new peak in March 2017, marking a 2.3......(read more)

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US Treasurys edge higher as bond investors focus on economic data

U.S. government debt prices were lower on Tuesday as investors awaited a fresh batch of economic data and focused on several auctions....(read more)

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Priced Out: The Housing Affordability Gap in America's Largest Metros

African-American and Hispanic families are losing ground in owning homes faster than other racial groups. The post Priced Out: The Housing Affordability Gap in America's Largest Metros appeared first on Redfin Real-Time ....(read more)

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U.S. home prices to rise at a strong pace on tight supply: Reuters poll

(Reuters) - U.S. home prices look poised to rise at a robust pace over the next few years, mainly because of a chronic shortage of houses and steady demand, a Reuters poll showed on Friday....(read more)

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US Treasurys edge lower as bond investors focus on economic data

U.S. government debt prices were lower on Friday morning as investors awaited a fresh batch of economic data....(read more)

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Bullard says US inflation is 'worrisome' and markets are wrong on Fed rate path

Federal Reserve (Fed) policymaker James Bullard has declared that the path of inflation in the U.S. is "worrisome", speaking in Tokyo on Friday....(read more)

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Luxury Homes in Manhattan Are Finally Getting Cheaper - Bloomberg

Bloomberg Luxury Homes in Manhattan Are Finally Getting Cheaper Bloomberg Owners of Manhattan luxury homes are waking up to a simple reality: If you want your place to sell, drop your price. For high-end homes that found buyers in 2017, the median asking price was the lowest in at least five years, according to data from ... and more »...(read more)

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Sacramento Is California's Newest Real-Estate Hot Spot

The once-sleepy government town is attracting a rush of buyers and flurry of development near its Golden 1 Center, a new NBA arena. The post Sacramento Is California’s Newest Real-Estate Hot Spot appeared first on Real Estate News & Advice | realtor.com® ....(read more)

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Trump budget could have big news for Fannie and Freddie

Within the details of the $4.1 trillion spending plan is a change in language regarding Fannie Mae and Freddie Mac....(read more)

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Fannie Mae Announces Third Front-End Credit Insurance Risk ...

News Release. Share This: May 25, 2017. Fannie Mae Announces Third Front-End Credit Insurance Risk Transfer Transaction ......(read more)

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Fed's Brainard says global economy 'brighter,' less risk to Fed outlook

Federal Reserve Governor Lael Brainard said on Thursday that a "brighter" global economy is posing less risk to the Fed's outlook for the U.S....(read more)

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Multifamily Developer Confidence Dips in First Quarter as Market Levels Off

The Multifamily Production Index (MPI) dropped seven points to 48 in the first quarter of 2017, according to the National Association of Home Builders (NAHB). The last time the MPI had a reading below 50 was in the fourth quarter of 2011 (Figure 1). Figure 1: NAHB Multifamily Production Index (MPI) and Multifamily Starts (in thousands) The MPI measures builder... Read More ›...(read more)

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Mortgage Rates Drop to Lowest of 2017

Mortgage Rates Drop to Lowest of 2017...(read more)

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Jobless claims rose slightly, but four-week average is at a 44-year low

First-time claims for state unemployment benefits were expected to total 238,000 in the most recent week....(read more)

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US Treasurys higher as bond investors await Fed speeches, data; OPEC eyed

U.S. government debt prices were higher Thursday, as investors waited for leading Fed members to speak on the back of the FOMC May minutes release....(read more)

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Sick of renting? 5 signs you're ready to buy a home

Is it better to rent or buy? Here are five signs you're ready to be a homeowner....(read more)

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Fed balance sheet unwind 'absolutely' reduces chance of more rate hikes: Former Dallas Fed advisor

The Federal Reserve will be very measured when it begins to reduce its balance sheet, but will likely not double tighten, Danielle DiMartino Booth said....(read more)

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Black Knight: Mortgage Delinquencies Increased in April

From Black Knight: Black Knight Financial Services' First Look at April 2017 Mortgage Data • First-lien mortgage delinquencies rose by 13 percent, the largest monthly increase since November 2008 • Month-over-month, the number of borrowers past due on mortgage payments increased by 241,000 • April's delinquency rate increase was primarily calendar-driven (due to both the month ending on a Sunday and March being the typical calendar-year low) and largely isolated to early-stage delinquencies • The inventory of loans in active foreclosure continues to decline, hitting a 10-year low in April •......(read more)

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FOMC Minutes: More details on Balance Sheet Reduction

From the Fed: Minutes of the Federal Open Market Committee, May 2-3, 2017 . Excerpts: Participants continued their discussion of issues related to potential changes to the Committee's policy of reinvesting principal payments from securities held in the SOMA. The staff provided a briefing that summarized a possible operational approach to reducing the System's securities holdings in a gradual and predictable manner. Under the proposed approach, the Committee would announce a set of gradually increasing caps, or limits, on the dollar amounts of Treasury and agency securities that would be......(read more)

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Fed sets process to unravel $4.5 trillion balance sheet

Federal Reserve officials appear to be in synch on how they plan to unravel the mammoth stimulus implemented during the financial crisis....(read more)

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Trends in Delinquency Rates Point to Continued Healing

Following a surprising, but small, increase in the percent of 1-4 family first-lien mortgages that were either 90 or more days delinquent or were in the process of foreclosure over the fourth quarter of 2016, the Mortgage Bankers Association reported that the measure continued its descent in the first quarter of 2017. This measure of delinquency, at least for conforming... Read More ›...(read more)

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Homeowners hate ‘Zestimates' so Zillow awarding $1 million to improve its model

The real estate data web site wants to crowdsource a better measurement tool - and will pay a handsome reward for the best model...(read more)

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Freddie Mac May 2017 Outlook

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

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US economy can do the 3% growth assumed in Trump's budget, Mohamed El-Erian says

Three percent economic growth is possible with the right policies, the Allianz chief economic advisor tells CNBC....(read more)

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It's cheaper to buy a home than rent — but you have to find one first

Why are home sales falling? Because there are crazy few affordable homes for sale....(read more)

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The Fed wants to raise rates this year. One thing could stand in the way

Substantially lower than expected inflation would be a significant hurdle for the Fed in its quest to normalize monetary policy and raise interest rates....(read more)

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Black Knight Financial Services' First Look at April 2017 Mortgage Data

Black Knight Financial Services' First Look at April 2017 Mortgage Data<br/>http://ift.tt/2rTAw9P...(read more)

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Paul Ryan wants to put tax reform on Trump's desk by Christmas

Paul Ryan echoed Treasury Secretary Steven Mnuchin, who said that "our objective" is to get tax reform "done this year."...(read more)

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Fed minutes in the spotlight on Wall Street; oil, data in focus

U.S. stock index futures pointed to a relatively flat open on Wednesday, as investors geared up for the release of minutes from the Fed's last meeting....(read more)

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Fannie Mae Introduces Healthy Housing Rewards Initiative for ...

News Release. Share This: May 23, 2017. Fannie Mae Introduces Healthy Housing Rewards Initiative for Affordable Multifamily Properties ......(read more)

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