Property tax deal near, Republicans sprint for bill

WASHINGTON (Reuters) - Quarreling Republicans in Congress were close to a deal on Tuesday to preserve a federal tax deduction for state and local property taxes, but not income tax payments, potentially removing a major obstacle to progress on their U.S. tax overhaul plan....(read more)

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Chair of House Financial Services Committee will not run for re-election in 2018

Chair of House Financial Services Committee will not run for re-election in 2018|| 104809096...(read more)

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

Here is the earlier post on Case-Shiller: Case-Shiller: National House Price Index increased 6.1% year-over-year in August 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 4.3% above the previous bubble peak. However, in real terms, the National index (SA) is still about 13.3% below the bubble peak (and historically there has been an upward slope to real house prices). The year-over-year increase in prices is mostly moving sideways now around 5% to 6%. In August, the index was up ......(read more)

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Trump says he wants House to pass tax reform by Thanksgiving

When asked if he was looking into phasing in corporate tax rate reductions, Trump responded "We're not looking for that, hopefully not."...(read more)

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6 Steps for Preparing Your Home for Winter

Keep your home in one piece this winter by following these 6 easy steps for preparing your home this fall. The post 6 Steps for Preparing Your Home for Winter appeared first on Redfin Real-Time ....(read more)

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DebtX: CMBS Loan Prices Decrease In September

BOSTON, Oct. 31, 2017 /PRNewswire/ -- DebtX, the largest marketplace for loans, said today that prices of commercial real estate loans underlying CMBS declined slightly in September. During the month, the estimated price of whole loans securing the CMBS universe decreased to 97.6%......(read more)

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HVS: Q3 2017 Homeownership and Vacancy Rates

The Census Bureau released the Residential Vacancies and Homeownership report for Q3 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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Consumer confidence hits 125.9 in October vs expectation of 121

Economists polled by Reuters expect consumers to be even more optimistic this month....(read more)

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Homeowners Should Winterize Now, Appraisal Institute Says

CHICAGO, Oct. 31, 2017 /PRNewswire-USNewswire/ -- The nation's largest professional association of real estate appraisers today advised homeowners to winterize their properties now for cold weather ahead to improve comfort, reduce costs and potentially increase value.   "Fall is......(read more)

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Yet more evidence that housing affordability is getting worse

Evidence continues to pile up revealing that housing affordability is getting worse, particularly for low-income households.[1] One of the latest examples, an analysis by Freddie Mac, examines rent changes for a sample of apartment buildings that the company financed at least twice between 2010 and 2016.[2] The bottom line: it wasn't easy for poor families…                ...(read more)

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Case-Shiller home price index rises 6.1% year-over-year in August

The U.S. National Home Price NSA Index was expected to stay the same in August, according to data from S&P CoreLogic Case-Shiller....(read more)

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The U.S. Isn't Prepared for the Next Recession

Maybe it will start with a failed initial public offering, followed by the revelation of widespread fraud in Silicon Valley. Perhaps energy prices will spike, sapping the finances of anyone who drives a car to work. Maybe a foreign crisis will cause a credit crunch, or President Trump will spark a global trade war. A recession might seem like a distant concern, with the latest data showing that the current, extraordinarily long expansion just keeps humming along. But one will hit eventually, for some reason or another-that's how economies work. And when it does, the country won't be ready.......(read more)

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Freddie Mac Reports Third Quarter 2017 Financial Results

Freddie Mac Reports Third Quarter 2017 Financial Results...(read more)

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Are house prices a new bubble?

On Friday, I posted five economic questions I'm frequently asked . I'll post some thoughts on each of these topics over the next couple of weeks. A common question is: Are house prices in a new bubble?  My short answer was: No.  Here is an explanation. First, we need to define a bubble. Way back in April 2005, when I was very bearish on housing, I wrote: Housing: Speculation is the Key . From that post: I have taken to calling the housing market a "bubble". But how do I define a bubble? A bubble requires both overvaluation based on fundamentals and speculation. It is natural ......(read more)

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Savings rate hits near-decade low amid rush into stocks and corporate bonds

Americans are saving at the lowest pace in nearly 10 years, a sign of growing confidence as money pours into risk....(read more)

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Why breakouts in the dollar, Treasurys matter for the broader market

The U.S. dollar index and 10-year Treasury yield recently broke above resistance levels....(read more)

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Know the Competition: Who's Buying Homes, Who's Selling—and Who's Not?

With soaring rental prices, low mortgage rates, and a good economy, it seems everyone wants to buy a home. But certain folks are more likely to buy-or sell. The post Know the Competition: Who’s Buying Homes, Who’s Selling-and Who’s Not? appeared first on Real Estate News & Insights | realtor.com® ....(read more)

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House reportedly considering phasing in corporate tax rate reduction

Republicans are considering phasing-in a corporate tax rate reduction in its tax reform plan, according to a Bloomberg News report....(read more)

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Trump expected to announce his choice for Fed chair on Thursday

WASHINGTON (Reuters) - U.S. President Donald Trump is expected to announce his choice to chair the Federal Reserve on Thursday, a White House official said on Monday....(read more)

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Homebuyers Are Invited to Learn How to "Block and Tackle" Their Way to the House of Their Dreams with New Ally Home Mortgage Playbook

SANDY, Utah, Oct. 30, 2017 /PRNewswire/ -- Fall is here and everyone knows that means football season. In keeping with this spirit, Ally Home, Ally Bank's direct-to-consumer mortgage business, today is kicking off availability of The Mortgage Playbook. The Mortgage Playbook is a free,......(read more)

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Dallas Fed: "Growth in Texas Manufacturing Activity Gains Momentum" in October

From the Dallas Fed: Growth in Texas Manufacturing Activity Gains Momentum Texas factory activity expanded at a faster pace in October, according to business executives responding to the Texas Manufacturing Outlook Survey. The production index, a key measure of state manufacturing conditions, rose six points to 25.6 and reached its highest reading since April 2014. Other measures of current manufacturing activity also indicated a pickup in growth. The new orders index climbed six points to a 10-year high of 24.8, and the growth rate of orders index moved up to 12.3. The capacity utilization......(read more)

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Study: U.S. Firms Are Worried About the Economy, Building Reserves at a Record Pace

BETHESDA, Md., Oct. 30, 2017 /PRNewswire/ -- The AFP Corporate Cash Indicators® index, recording changes in cash and short-term investments over the past quarter, shot to its highest reading since it debuted in January 2011, signaling that corporate treasury and finance executives are......(read more)

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A new survey shows high home prices are hitting first-time buyers harder than ever

Home sales to first-time buyers fell to 34 percent in 2017, down from 35 percent in 2016, according to the National Association of Realtors....(read more)

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Florida Accounts for Much of Nationwide Decrease in Employment

According to the Bureau of Labor Statistics, nonfarm payroll employment increased in 28 states and decreased in 23 states and the District of Columbia in September 2017 compared to August 2017. Although the majority of states recorded a monthly increase, the decline across the state of Florida was large enough to offset those gains. As a result, payroll employment nationwide... Read More ›...(read more)

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Black Knight Home Price Index Report: August 2017 Transactions

Black Knight Home Price Index Report: August 2017 Transactions<br/>http://ift.tt/2ifwbuq...(read more)

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U.S. consumer spending grows at fastest pace since 2009

WASHINGTON (Reuters) - U.S. consumer spending recorded its biggest increase in more than eight years in September, likely as households in Texas and Florida replaced flood-damaged motor vehicles, but underlying inflation remained muted....(read more)

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Cash Sales Retreat as a Share of New Home Purchases

NAHB analysis of the most recent Quarterly Sales by Price and Financing published by the Census Bureau reveals that cash sales accounted for just 4.8% of the total, down from 6.5% in the second quarter. FHA-loans financed 14.3% of new home sales during the third quarter of 2017. As of the second quarter of 2017, the share of sales financed with FHA-backed... Read More ›...(read more)

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Bond Traders Face Their Fears in Week That May Change Everything

Bloomberg Bond Traders Face Their Fears in Week That May Change Everything Bloomberg This week is fraught with peril for Treasuries traders, no matter if they're bulls or bears. The next five trading days will bring a torrent of market-moving information: President Donald Trump is poised to finally announce his nominee to lead the ... and more »...(read more)

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Paul Manafort Is Reportedly Told To Surrender To Federal Agents

Both Paul Manafort President Trump's former campaign chairman, and a close associate were told to surrender, The New York Times reports....(read more)

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Barclays and US Renew Talks Over Toxic Mortgages Lawsuit

Barclays and US Renew Talks Over Toxic Mortgages Lawsuit Bloomberg Barclays Plc and the U.S. Justice Department, engaged in a legal battle over the suspected fraudulent sale of mortgage securities a decade ago, have revived discussions about reaching an out-of-court settlement, Bloomberg News reports. The Justice ......(read more)

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Treasuries Gain After Report That Trump Is Leaning Toward Powell for Fed Chair

Bloomberg Treasuries Gain After Report That Trump Is Leaning Toward Powell for Fed Chair Bloomberg Treasuries rose, pushing yields down from seven-month highs, on a report that President Donald Trump is leaning toward nominating Federal Reserve Governor Jerome Powell to lead the U.S. central bank, a move that would signal continuity for monetary ... and more »...(read more)

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Weidmann Says ECB Should Have Set Clear End Date for Bond Buying

Bloomberg Weidmann Says ECB Should Have Set Clear End Date for Bond Buying Bloomberg The European Central Bank should have decided on an end date for its asset-purchase program rather than retaining the option to extend it after September 2018, Bundesbank President Jens Weidmann said. "From my point of view, a clear end of net ... and more »...(read more)

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How to know when you should drop the asking price on your home

Sellers: Here's when to drop your home price...(read more)

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Hurricanes only trimmed a few tenths from Q3 GDP growth: economists

Hurricanes Harvey and Irma only trimmed a few tenths from third quarter GDP growth as the goods sector quickly recovered, economists said Friday....(read more)

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Rising home prices and stagnant wages have home buyers in a pickle

Home ownership remains elusive for many Americans a decade after the collapse of the real estate market....(read more)

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Bond Volatility Shows Signs of Life as Rates Divergence Widens

Bloomberg Bond Volatility Shows Signs of Life as Rates Divergence Widens Bloomberg As U.S. Treasury yields climb to the highest in seven months, volatility in the bond market is also trending up. Bank of America Merrill Lynch's MOVE Index, a gauge of price swings in the U.S. Treasury market, is close to the highest since May and its ... and more »...(read more)

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Trump is leaning towards Jay Powell for next Fed chair, but remains undecided: Source

Trump is leaning towards Jay Powell for next Fed chair, but remains undecided: Source|| 104789361...(read more)

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Consumer sentiment ticks down after hitting 7-month highs earlier in October

Consumer confidence was expected to hit 100.9 in October....(read more)

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It's Going to Stay a Yellen Fed No Matter Who Gets the Job

Bloomberg It's Going to Stay a Yellen Fed No Matter Who Gets the Job Bloomberg It's going to be Janet Yellen's Federal Reserve no matter who is the next chair. With every headline, financial markets get jolted as investors guess whether President Donald Trump will re-nominate Yellen to the helm of the U.S. central bank or opt for ... and more »...(read more)

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Catalan parliament votes to start 'constituent process' to split from Spain

MADRID (Reuters) - The regional parliament of Catalonia on Friday voted a motion to begin a "constituent process" to split from Spain shortly before beginning a secret vote on whether or not to declare independence from the rest of the country....(read more)

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U.S. economy likely slowed by hurricanes in third quarter

WASHINGTON (Reuters) - U.S. economic growth probably slowed in the third quarter as hurricanes Harvey and Irma restrained consumer spending and undercut construction activity, but underlying momentum likely remained strong amid robust business investment on equipment....(read more)

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Luxury homes can't keep up with high demand

The lack of supply that has been plaguing the nation's housing market has finally caught up to the priciest homes....(read more)

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Why volatility could suddenly return to the markets in November

Next week could be pivotal for markets when Trump names a new Fed chair and Congress unveils a long-awaited tax bill....(read more)

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The most annoying thing about Loan Depot CEO Anthony Hsieh on LinkedIn

Hint: it's not his new LinkedIn face tattoos, because those look amazing. The post The most annoying thing about Loan Depot CEO Anthony Hsieh on LinkedIn appeared first on The Basis Point ....(read more)

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Goldman: "On Course for a December Hike"

CR Note: The FOMC meets next week, and no change to policy is expected. However it appears another rate hike is coming at the December meeting. A few brief excerpts from a piece by Goldman Sachs economist Spencer Hill: On Course for a December Hike We expect the FOMC to keep policy unchanged next week and see few substantive changes to the statement. We expect a slightly more upbeat tone on growth that acknowledges the disruptions from the hurricanes but characterizes them as temporary or in the past tense ... Despite the disappointing September CPI report, we do not expect a downgrade of the ......(read more)

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Paul Ryan is confident he can sweeten tax reform to win over GOP holdouts

House leaders are looking for ways to strike a deal with the 20 Republican lawmakers who could be tax reform holdouts....(read more)

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A bond market freakout could derail the rally in stocks

Historically low interest rates are a critical ingredient in the remarkable stock market rally....(read more)

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The Fed: Yellen looks to be out of the race for Fed chief

Fed Chairwoman Janet Yellen looks to be out of the race for Fed chief, according to reports on Thursday....(read more)

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Bridgewater's Ray Dalio still long on stocks, and sees 'significant' risk in bonds

Bridgewater Associates founder Ray Dalio shared his market views on Bloomberg Radio Thursday....(read more)

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House narrowly passes budget, moving one step closer to tax reform

The House on Thursday narrowly approved a Senate version of the 2018 federal budget, clearing the way for the GOP-controlled Senate to pass a massive set of tax cuts later this year....(read more)

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