GOP Sen Hatch says cutting corporate rate to 25% is a challenge in tax reform

Republican Sen. Orrin Hatch said he'd like he'd like to get the corporate tax rate down to around 20 percent....(read more)

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The Fed: Demand for business loans weakened in second quarter, Fed finds

Bankers reported to the Federal Reserve that demand for business loans weakened in the second quarter....(read more)

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U.S. pending home sales rise; Midwest factory activity slows

WASHINGTON (Reuters) - Contracts to buy previously owned U.S. homes rebounded in June after three straight monthly declines, but the housing market remained constrained by a shortage of properties available for sale....(read more)

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Debt ceiling fears are casting a shadow over Fed plans

Republican failures are raising concerns of disorderly stand-off over borrowing,...(read more)

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Marcus Lemonis: These are the 2 essential reasons you should buy a home

The serial entrepreneur and host of CNBC's "The Profit" says owning a home is about more than equity....(read more)

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Dallas Fed: "Texas Manufacturing Activity Strengthens" in July

From the Dallas Fed: Texas Manufacturing Activity Strengthens, Outlooks Improve Texas factory activity increased again in July, according to business executives responding to the Texas Manufacturing Outlook Survey. The production index, a key measure of state manufacturing conditions, rose 11 points to 22.8, indicating output grew at a faster pace than in June. Other measures of current manufacturing activity also indicated a pickup in growth. The new orders and the growth rate of orders indexes rose several points each, coming in at 16.1 and 12.2, respectively. The capacity utilization index ......(read more)

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Bond Report: Treasury yields steady, but on track to end July lower

U.S. Treasury yields hold steady early Monday, but are mostly on track to post declines in the last trading day in July-a month marked by repeat records for equities and a heightened belief that the pace of U.S. Federal Reserve rate increases will be hampered by slothful inflation....(read more)

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Fischer, The Low Level of Global Real Interest Rates

Speech At the Conference to Celebrate Arminio Fraga's 60 Years, Casa das Garcas, Rio de Janeiro, Brazil...(read more)

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Can President Trump appoint an Acting Director upon Director Cordray's departure?

Given the speculation that Director Cordray will soon resign to run for Ohio governor, we have been pondering whether President Trump could appoint an Acting Director upon his resignation or whether David Silberman, the Acting Deputy Director, would automatically become Acting Director. Our analysis indicates that under the Federal Vacancies Reform Act of 1998 (Vacancies... Continue Reading…...(read more)

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Sneak Preview in the Works For Timing of US Libor Alternative

Sneak Preview in the Works For Timing of US Libor Alternative Bloomberg With a little luck, financial markets may get a better sense of how soon they'll be transitioning to the potential U.S. candidate to replace Libor. A Federal Reserve-sponsored group that has been working on an alternative is slated Tuesday to discuss ......(read more)

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The real reason so many millennials still live with their parents

A third of 18- to 34-year-olds still live at home. Older generations like to say it's laziness-but it's not....(read more)

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Younger house hunters prefer dog-friendly features to family-friendly ones when buying first home

Thirty-three percent of millennial first-time home buyers cite a bigger yard for their dog as an influence in buying their first home....(read more)

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CORELOGIC INTEGRATES WITH FANNIE MAE TO PROVIDE DAY 1 CERTAINTY SERVICE

— Integration Provides Seamless Income Verification on DU Platform — CoreLogic ® (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, today announced that, effective in early August, it will have fully integrated its leading 4506-T income verification product with Fannie Mae’s Desktop Underwriter ® (DU ® ) platform. Mortgage lenders will be able to access these verification products as part of the DU validation service, providing automated access and rapid representations and warranties relief ......(read more)

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Senator Warren calls on Fed to remove Wells Fargo board members

WASHINGTON (Reuters) - U.S. Senator Elizabeth Warren called on Federal Reserve Chair Janet Yellen to remove members of Wells Fargo & Co's board after revelations the company improperly charged customers for auto insurance....(read more)

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US Economic Growth Rebounds, But Breaking Out Is Hard to Do

Bloomberg US Economic Growth Rebounds, But Breaking Out Is Hard to Do Bloomberg The U.S. economy's second-quarter rebound puts the expansion back on its familiar, steady path more than it heralds anything new and exciting. Gross domestic product grew at a 1.9 percent annual pace for the first half, below the expansion's 2.2 ... and more »...(read more)

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Freddie Mac: Mortgage Serious Delinquency rate declined in June, Lowest since April 2008

Freddie Mac reported that the Single-Family serious delinquency rate in June was at 0.85%, down from 0.87% in May.  Freddie's rate is down from 1.08% in June 2016. Freddie's serious delinquency rate peaked in February 2010 at 4.20%. This is the lowest serious delinquency rate since April 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 still declining, the rate of decline has slowed. Maybe the rate will decline another 0.2 to 0.3 percentage points or so to a cycle......(read more)

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Banks must face interest rate swap class action: U.S. judge

NEW YORK (Reuters) - A U.S. judge on Friday said investors may pursue part of their nationwide antitrust lawsuit accusing 12 of the world's biggest banks of conspiring to rig the $275 trillion market for interest rate swaps....(read more)

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Fed's balance sheet not boosting U.S. economy much: Kashkari

(Reuters) - The Federal Reserve's $4.5 trillion balance sheet is not doing a lot to boost the U.S. economy right now and trimming it gradually is the right thing to do, Minneapolis Fed President Neel Kashkari said on Friday....(read more)

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Economy Grew At a Faster Pace in Q2

In the second quarter of 2017, the nation's economy grew at a faster pace than in the first quarter. According to the Bureau of Economic Analysis, real gross domestic product (GDP) increased at an annual rate of 2.6 percent in the second quarter of 2017. In the first quarter, GDP grew at an annual rate of 1.2 percent. The first... Read More ›...(read more)

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What Luxury Home Builders Consider Worth the Splurge

In their own homes, construction-company bosses will spend money on the best materials and perks like seven ovens and a dog-grooming room. But some eschew complex home-automation systems. The post What Luxury Home Builders Consider Worth the Splurge appeared first on Real Estate News & Insights | realtor.com® ....(read more)

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Redfin shares surge more than 30% in $138.5 million real estate tech IPO

Redfin specializes in buying and selling homes and uses a mobile app to do tasks like schedule home tours and suggest listings....(read more)

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New Documents Give Hope to Fannie Shareholders Seeking Redress

Bloomberg New Documents Give Hope to Fannie Shareholders Seeking Redress Bloomberg Shareholders of Fannie Mae and Freddie Mac say a trove of documents they have obtained bolsters their case that the government lied when it decided to take all of the mortgage companies' profits. Investors have filed dozens of lawsuits in courts across ... and more »...(read more)

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US second quarter GDP meets expectations

The second-quarter GDP data follows a weak first-quarter report....(read more)

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Looking to Make a Quick Buck? Sell Your Home

Homeowners are pocketing the most extra money on selling their homes since the height of the last housing market, according to a new report. The post Looking to Make a Quick Buck? Sell Your Home appeared first on Real Estate News & Insights | realtor.com® ....(read more)

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US Treasurys mostly lower as bond investors await GDP data

U.S. government debt prices were mostly lower on Friday, as investors await key data releases including gross domestic product (GDP)....(read more)

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Joint Statement on Tax Reform

Today, House Speaker Paul Ryan (R-WI), Senate Majority Leader Mitch McConnell (R-KY), Treasury Secretary Steven Mnuchin, National Economic Council Director Gary Cohn, Senate Finance Committee Chairman Orrin Hatch (R-UT), and House Ways and Means Committee Chairman Kevin Brady (R-TX) issued the following joint statement on tax reform: "For the first time in many years, the American people have elected a President and Congress that are fully committed to ensuring that ordinary Americans keep more of their hard-earned money and that our tax policies encourage employers to invest, hire, and grow. ......(read more)

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Ryan Gives Up on Border-Adjusted Tax on Imports After Attack

Ryan Gives Up on Border-Adjusted Tax on Imports After Attack Bloomberg House Speaker Paul Ryan speaks at a National Association of Manufacturers event in Washington on June 20, 2017. Photographer: Andrew Harrer/Bloomberg. Republican leaders conceded on Thursday that the border-adjusted tax doesn't have the support ... and more »...(read more)

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Robert Shiller: Fear of robots is driving the market rally

Fear of robotics and artificial intelligence is "substantially driving the market," according to the famed economist....(read more)

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10 questions to ask yourself before you buy — or sell — a house

Housing is the biggest expense for most American families. Are those dollars getting spent wisely?...(read more)

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Freddie Mac July 2017 Outlook

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

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FHA-backed Loans Finance Smallest Share of New Home Sales Since 2014

NAHB analysis of the most recent Quarterly Sales by Price and Financing published by the Census Bureau reveals that FHA-backed loans were responsible for 11.9% of new home sales during the second quarter of 2017. The share of sales financed with FHA-backed mortgages has fallen five percentage points over the past four quarters and is below 12% for the first... Read More ›...(read more)

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Home sellers see biggest profits in a decade — not just because of higher prices

Higher prices and longer tenure of homeownership are combining to give sellers the highest profits in a decade....(read more)

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Americans are financially happier than they've been in a decade

Gauge of how households are faring reaches 10-year high....(read more)

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Mortgage industry under fire again ... from younger buyers

A generational shift might be behind lower customer satisfaction for mortgage companies....(read more)

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HVS: Q2 2017 Homeownership and Vacancy Rates

The Census Bureau released the Residential Vacancies and Homeownership report for Q1 2017. This report is frequently mentioned by analysts and the media to track household formation, the homeownership rate, and the homeowner and rental vacancy rates.  However, there are serious questions about the accuracy of this survey. This survey might show the trend, but I wouldn't rely on the absolute numbers.  The Census Bureau is investigating the differences between the HVS, ACS and decennial Census, and analysts probably shouldn't use the HVS to estimate the excess vacant......(read more)

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Jobless claims rise from three-month low

WASHINGTON (Reuters) - The number of Americans filing for unemployment benefits rebounded from a three-month low last week, but remained below a level consistent with a tightening labor market....(read more)

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Stock market opens at all-time intraday highs

U.S. stock-index benchmarks on Thursday jumped to records at the open, supported by the latest round of upbeat corporate results. Most recently Facebook Inc. reported second-quarter results late-Wednesday that beat expectations, helping it approach a market value of $500 million. Enthusiasm around Facebook helped to lift the broader technology industry . The Dow Jones Industrial Average rose to an all-time intraday high and was most recently up 0.2% at 21,763, the S&P 500 index climbed 0.2% at 2,481, while the tech-laden Nasdaq Composite Index rose 0.5% at 6,453. Separately, Twitter Inc.......(read more)

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U.S. durable goods, trade data point to pick-up in second-quarter growth

WASHINGTON (Reuters) - New orders for key U.S.-made capital goods unexpectedly fell in June, but a fifth straight monthly increase in shipments suggested that business spending on equipment supported economic growth in the second quarter....(read more)

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Home Impossible: Freddie Kills 1% Down

As announced in our July 6, 2017 Industry Letter, we are changing our requirements for Home Possible Mortgages, including Home Possible Advantage Mortgages....(read more)

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This scandal-hit interest rate used to set mortgages is to end in 2021

The interbank lending rate, LIBOR, is to be phased out within 4 years....(read more)

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Deutsche Bank posts unexpectedly sharp rise in second-quarter profit

FRANKFURT (Reuters) - Deutsche Bank posted a sharp rise in second-quarter net profit to 466 million euros ($547 million) on Thursday, benefiting from lower legal costs for past misdeeds that outweighed a dip in debt trading....(read more)

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Older Americans Buck Trend of Decreased Homeownership

U.S. homeownership rates are down eight percentage points since 2009, with declines evident among most major demographic groups except older Americans....(read more)

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The Best Way to Increase Housing Supply? Build More

Bloomberg The Best Way to Increase Housing Supply? Build More Bloomberg A new report seeks to quantify the impact that slow construction, avid investors and aging boomers have on inventory. By. Patrick Clark. @pat_clark More stories by Patrick Clark. Wed Jul 26 2017 08:46:05 GMT-0700 (PDT). It's widely agreed that housing ... and more »...(read more)

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Freddie Mac: Multifamily Market Will Continue to Grow, Hitting Records in 2017

Freddie Mac: Multifamily Market Will Continue to Grow, Hitting Records in 2017...(read more)

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Dollar turns negative after Fed statement

The U.S. dollar pivoted lower on Wednesday after the Federal Reserve said it would begin winding down its bond holdings "relatively soon." The central bank left rates unchanged as expected but the tone of the updated policy remarks might imply to investors that it is taking a go-it-slow approach, bearish for the buck. The U.S. dollar index traded at 94.05, in slightly negative territory, and off a high of 94.29 that had been hit earlier in the session. It saw a particular dip against the euro , which traded at $1.1688 from $1.1649 late Tuesday. Prior to the Fed statement, it had traded around ......(read more)

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Trade associations urge Congress to disapprove CFPB arbitration rule

A group of 11 trade associations have sent a letter to members of Congress expressing their “strong disapproval” of the CFPB’s final arbitration rule and urging Congress to pass the resolutions introduced in the House and Senate that provide for Congressional disapproval of the rule under the Congressional Review Act.  (The House resolution, H.J. Res.... Continue Reading…...(read more)

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The Fed is about to make a major policy change. Here's how it works

Consider the Fed the Starship Enterprise of monetary policy: It went where no central bank had gone before, and now must plot the journey home....(read more)

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House passes H.J. Res. 111 to override CFPB arbitration rule

Yesterday afternoon, the House of Representatives, by a 231-190 partisan vote, passed H.J. Res. 111 which provides for Congressional disapproval under the Congressional Review Act (CRA) of the CFPB's final arbitration rule which was published on July 19, 2017 in the Federal Register. Under the CRA, to override the arbitration rule, both the House and... Continue Reading…...(read more)

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Op-ed: Elitist approach to housing will harm an entire generation of families

Zoning strategies to limit construction of housing in the most desirable communities will harm an entire generation of workers and their families....(read more)

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D.R. Horton profit rises on higher home sales

(Reuters) - D.R. Horton Inc , the largest U.S. homebuilder, reported a quarterly profit that narrowly beat analysts' estimates as home sales rose....(read more)

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