Friday, September 29, 2017

If You Find Your Own Buyer, Will Your Real Estate Agent Take Less Commission?

Let's say you're selling your home and you find your own buyer, independent of your real estate agent's efforts. Do you still have to pay the commission? The post If You Find Your Own Buyer, Will Your Real Estate Agent Take Less Commission? appeared first on Real Estate News & Insights | realtor.com® ....(read more)
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CFPB updates HMDA rule guidance materials

The Consumer Financial Protection Bureau (CFPB) recently posted on its website updated versions of guidance in connection with the revisions to the Home Mortgage Disclosure Act (HMDA) rules that become effective on January 1, 2018. The CFPB updated the Key dates timeline, 2018 HMDA institutional coverage chart and 2018 HMDA transactional coverage chart to reflect... Continue Reading…...(read more)
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Gary Cohn: 'People don't buy homes because of the mortgage deduction'—or do they?

Gary Cohn: "People don't buy homes because of the mortgage deduction"-or do they?...(read more)
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Kevin Warsh is far from a lock to replace Janet Yellen as Fed chair

Warsh's meeting with the president on Thursday pushes him to the lead in the race for a new Fed chair, for now, Politico's Ben White says....(read more)
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Fed's Harker says he still expects to raise rates in December

Philadelphia Federal Reserve Bank Pres. Patrick Harker says he has "penciled in" an interest rate hike in December, and three more rate hikes next year....(read more)
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Q3 GDP Forecasts: Close to 2%

From the Altanta Fed: GDPNow The GDPNow model forecast for real GDP growth (seasonally adjusted annual rate) in the third quarter of 2017 is 2.3 percent on September 29 , up from 2.1 percent on September 27. Since the previous GDPNow update on Wednesday, the forecasts of the contributions of net exports and inventory investment to third-quarter GDP growth increased from -0.16 percentage points and 0.90 percentage points, respectively, to -0.01 percentage points and 1.13 percentage points, respectively. The forecasts of real consumer spending growth and real nonresidential equipment investment ......(read more)
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CFPB enters into RESPA settlement with title agent

The Consumer Financial Protection Bureau (CFPB) recently entered into a consent order with Meridian Title Corporation (Meridian) under the Real Estate Settlement Procedures Act (RESPA). The CFPB found that Meridian is a title insurance agency that issues title insurance policies and provides loan settlement services in connection with residential mortgage transactions that are subject to... Continue Reading…...(read more)
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Freddie Mac September Insight: Is Geography Destiny?

Freddie Mac September Insight: Is Geography Destiny?...(read more)
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Bond yields jump on report former Fed official Kevin Warsh met with President Trump

If history is a guide, the going will continue to be good for stocks into the end of the year....(read more)
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Reis: Office Vacancy Rate "flat" in Q3 at 16.1%

Reis released their Q3 2017 Office Vacancy survey this morning. Reis reported that the office vacancy rate was unchanged at 16.1% in Q3, from 16.1% in Q2. This is also unchanged from 16.1% in Q3 2016, and down from the cycle peak of 17.6%. From Reis Economist Barbara Denham: Continuing its steady but sluggish pace, the office market recorded no change in vacancy rate in the third quarter. Currently at 16.1% for the second quarter in a row, the national office vacancy rate has moderated between 16.0% and 16.1% for the last seven quarters. Construction fell to 6.5 million square feet......(read more)
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Consumer sentiment hits 95.1 in September vs. 95.3 estimate

The consumer sentiment index, a survey of consumers by The University of Michigan, was expected decline to 95.3 in September....(read more)
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Trump met with Kevin Warsh to discuss Fed chair job: WSJ citing White House official

Please check back for further updates....(read more)
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U.S. consumer spending barely rises; core inflation retreats

WASHINGTON (Reuters) - U.S. consumer spending barely rose in August likely as Hurricane Harvey weighed on auto sales and annual inflation increased at its slowest pace since late 2015, pointing to a moderation in economic growth in the third quarter....(read more)
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EU Is Said to Consider Brexit Compromise as Parliament Digs in

EU Is Said to Consider Brexit Compromise as Parliament Digs in Bloomberg EU leaders are considering going some way to meet one of the U.K.'s demands, signaling a minor breakthrough in Brexit talks after three months of scant progress. While the European Parliament will call on leaders not to move talks on to the crucial ... and more »...(read more)
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U.S. consumer spending barely rises; core inflation moderates

WASHINGTON (Reuters) - U.S. consumer spending barely rose in August likely as Hurricane Harvey weighed on auto sales and annual inflation increased at its slowest pace since late 2015, pointing to moderation in economic growth in the third quarter....(read more)
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Thursday, September 28, 2017

Gary Cohn: Family earning $100,000 a year would get $1,000 tax break

Middle-income families will see real benefits as a "basic core premise" of the GOP tax reform proposal, Gary Cohn said....(read more)
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One of the world's largest hedge funds is now letting computers trade completely on their own

Leslie Picker gives an inside look at London's Man Group, which $43 billion through quantitative trading....(read more)
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Consumer Comfort in US Increases for First Time in Four Weeks

Bloomberg Consumer Comfort in US Increases for First Time in Four Weeks Bloomberg Americans' confidence rose for the first time in four weeks as households grew more upbeat about their finances amid higher stock prices, Bloomberg Consumer Comfort Index figures showed Thursday. and more »...(read more)
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U.S. economy accelerates in second quarter; hurricanes expected to slow growth

WASHINGTON (Reuters) - The U.S. economy expanded a bit faster than previously estimated in the second quarter, recording its quickest rate of growth in more than two years, but the momentum likely slowed in the third quarter due to the impact of Hurricanes Harvey and Irma....(read more)
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Freddie Mac Prices New $2.5 Billion Three-Year Reference Notes Security

Freddie Mac Prices New $2.5 Billion Three-Year Reference Notes Security...(read more)
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Kansas City Fed: Regional Manufacturing Activity "Continued to Expand Solidly" in September

From the Kansas City Fed: Tenth District Manufacturing Activity Continued to Expand Solidly The Federal Reserve Bank of Kansas City released the September Manufacturing Survey today. According to Chad Wilkerson, vice president and economist at the Federal Reserve Bank of Kansas City, the survey revealed that Tenth District manufacturing activity continued to expand at a solid pace and that firms remained optimistic about the future . "Factories in the region reported another good month in September, with little impact overall from the Gulf Coast hurricanes," said Wilkerson.  ... The......(read more)
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Hutchins Roundup: the Fed's balance sheet and 10-year rates, employment hysteresis, and more

Studies in this week's Hutchins Roundup find that the yield on 10-year Treasury debt would have been 1 percentage point higher if not for unconventional monetary policies; the Great Recession contributed to the persistent decline in employment rates, and more. Want to receive the Hutchins Roundup as an email? Sign up here to get it…                ...(read more)
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Mortgage Rates Hold Flat

Mortgage Rates Hold Flat...(read more)
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The Fed: Fischer suggests Fed should separate financial stability watchdog from FOMC

Fed Vice Chairman Stanley Fischer on Thursday suggested the Bank of England's two policy committee structure - one for monetary policy and the other for financial stability issues - might be a model for the U.S. central bank....(read more)
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U.S. second-quarter GDP growth revised up to 3.1 percent

WASHINGTON (Reuters) - The U.S. economy grew a bit faster than previously estimated in the second quarter, recording its quickest pace in more than two years, but the momentum probably slowed in the third quarter as Hurricanes Harvey and Irma temporarily curbed activity....(read more)
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Cohn says entire tax cut will be paid for by growth

Tax cuts Republicans proposed this week will be paid for through economic growth, chief White House economic advisor Gary Cohn said Thursday....(read more)
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CoreLogic Reports Mortgage Credit Risk Increased in Q2 2017

— Credit Risk for Loans in 2017 Comparable to Loans Issued in Early 2000s — Increase in Condo Co-op and Investor Shares in Q2 2017 Make Loans Appear Purchase Mortgage Loans Are Still High Quality in Terms of Credit Risk CoreLogic ® (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, today released its Q2 2017 CoreLogic Housing Credit Index (HCI ™ ) which measures trends in six home mortgage credit risk attributes. The HCI indicates the relative increase or decrease in credit risk for new home loan......(read more)
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America's 20 Hottest Markets for Real Estate in September 2017

As September draws to a close, we're using realtor.com® data as a lens to take a snapshot of what the housing market across the country is like today. The post America’s 20 Hottest Markets for Real Estate in September 2017 appeared first on Real Estate News & Insights | realtor.com® ....(read more)
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The Fannie-Freddie Overhaul Is Near Do-or-Die With Corker Stepping Away

Bloomberg The Fannie-Freddie Overhaul Is Near Do-or-Die With Corker Stepping Away Bloomberg For nearly a decade, "wait 'til next year" has been the refrain for proponents of overhauling mortgage giants Fannie Mae and Freddie Mac. For U.S. Senator Bob Corker, arguably the biggest advocate of that push, it will either be next year or never ......(read more)
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Dollar dips after Trump tax plan spurt, bond yields stay up

LONDON (Reuters) - The dollar pulled back on Thursday, having risen along with bond yields after President Donald Trump proposed the biggest shake-up of the U.S. tax system in three decades and data bolstered calls for another Fed rate hike this year....(read more)
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Wednesday, September 27, 2017

The real problem with credit reports is the astounding number of errors

The massive Equifax data breach is grabbing the headlines but the real problem is the astounding number of errors in credit reports, says Brookings fellow Aaron Klein....(read more)
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Everything you wanted to know about your credit report but were afraid to ask

The Equifax breach has raised many questions for consumers...(read more)
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Zillow Forecast: "August Case-Shiller Forecast: Annual Home-Price Gains Aiming Higher"

The Case-Shiller house price indexes for July 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 Svenja Gudell at Zillow: August Case-Shiller Forecast: Annual Home-Price Gains Aiming Higher The Case-Shiller U.S. National Index is expected to continue its upward climb in August, gaining 6.0 percent year-over-year following a 5.9 percent increase in July. The monthly gain is forecast at 0.4 percent, slightly below the 0.5 percent uptick in July. The 10- and 20-city indices are expected......(read more)
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CFPB issues arbitration rule small entity compliance guide

The CFPB has issued a small entity compliance guide for its arbitration rule.  The rule became effective on September 18, and compliance with the rule is required with regard to pre-dispute arbitration agreements entered into on or after March 19, 2018. The Senate has before it a joint resolution under the Congressional Review Act to... Continue Reading…...(read more)
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One-third of American households can't afford food, shelter or medical care

A new survey shows how many families are on the edge financially....(read more)
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Reversing crisis-era trends, U.S. family income jumped in 2013-2016: Fed

(Reuters) - Income and net worth among U.S. families increased broadly between 2013 and 2016, a reversal to years of stagnation that cut across education levels and race, and lifted lower-income families as well as top earners, the Federal Reserve said in its latest extensive review of the economic state of American households....(read more)
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Bonds could be the big loser under the GOP tax plan

The Republican tax plan seeks to spark economic growth through lower rates but could punish U.S. government bonds....(read more)
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This is the most important point in the GOP tax-reform plan

Pundits are spending way too much time focused on what Trump's tax proposal means for the wealthy, says Jake Novak. Here's the really important point....(read more)
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Fed's Bullard sees no need to raise interest rates anytime soon

St. Louis Fed President James Bullard on Wednesday said slow growth and low inflation mean the central bank can hold interest rates steady over the near term....(read more)
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No Working Fed Inflation Models, Says Dan Tarullo - Bloomberg Video

Bloomberg No Working Fed Inflation Models, Says Dan Tarullo Bloomberg Former Federal Reserve Governor Daniel Tarullo talks about inflation and the Federal Reserve's rate path. He speaks with David Westin on "Bloomberg Daybreak: Americas." (Source: Bloomberg) ......(read more)
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Freddie Mac: Mortgage Serious Delinquency rate declined in August, Lowest since April 2008

Freddie Mac reported that the Single-Family serious delinquency rate in August was at 0.84%, down from 0.85% in July.  Freddie's rate is down from 1.03% in August 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 generally declining, the rate of decline has slowed. In the short term - over the next several months - the rate will probably ......(read more)
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Agencies propose simplifying regulatory capital rules

Agencies propose simplifying regulatory capital rules...(read more)
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Freddie Mac Announces the Issuance of a New Three-Year Reference Notes Security

Freddie Mac Announces the Issuance of a New Three-Year Reference Notes Security...(read more)
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Worst Bond-Market Rut in 52 Years Shows Few Signs of Break Out - Bloomberg

Bloomberg Worst Bond-Market Rut in 52 Years Shows Few Signs of Break Out Bloomberg The world's most important bond market is stuck in its worst rut in more than half a century. Ten-year U.S. Treasury yields have been locked between 2.01 percent and 2.63 percent in 2017 -- a measly 62 basis points. That's the tightest trading range ... and more »...(read more)
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Market Extra: Why the Fed trumps North Korea when it comes to financial markets

Geopolitical tensions might seem like they should be one of the biggest drivers omarket action, but they've got nothing on the Federal Reserve, panelists at UBS' CIO Global Forum said in New York on Tuesday....(read more)
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Study Finds Green Home Building Continues to Gain Traction

NEW YORK, Sept. 27, 2017 /PRNewswire/ -- Green construction is rapidly gaining traction among both single family and multifamily home builders, according to new research published in the Green Multifamily and Single Family Homes 2017 SmartMarket Brief. The report is available for free......(read more)
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Bond Report: Treasury yields jump as traders position for higher rates

U.S. Treasury prices retreated further on Wednesday, driving yields higher, amid a modest rise in appetite for assets perceived as risky like stocks and as a speech by Federal Reserve Chairwoman Janet Yellen set the table for on additional rate increase this year....(read more)
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Orders for long-lasting factory goods rose more than expected in Aug

New orders for capital goods increased more than expected in August and shipments maintained their upward trend....(read more)
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Trump's tax plan to propose deep U.S. rate cuts, lacks revenue details

WASHINGTON (Reuters) - U.S. President Donald Trump will call on Wednesday for slashing tax rates on businesses and the wealthy as part of a new tax plan that is likely to offer few details about how to pay for the cuts without expanding the federal deficit....(read more)
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Yellen lifts dollar as global markets await Trump tax plan

LONDON (Reuters) - Growing expectations that the U.S. Federal Reserve will raise interest rates for the third time this year lifted the dollar on Wednesday, and European share prices rose as President Donald Trump's administration prepared to outline a new tax plan....(read more)
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