Fannie Mae: Mortgage Serious Delinquency rate decreased in July, Lowest since Oct 2007

Fannie Mae reported that the Single-Family Serious Delinquency rate decreased to 0.88% in July, down from 0.97% in June. The serious delinquency rate is down from 1.00% in July 2017. 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%. This is the lowest serious delinquency for Fannie Mae since October 2007. Click on graph for larger image By vintage , for loans made in 2004 or earlier (3% of portfolio), 2.80% are seriously delinquent. For loans made in 2005 through......(read more)

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U.S. says to move ahead with Mexico trade pact, keep talking with Canada

President Donald Trump told the U.S. Congress on Friday he plans to sign a trade deal with Mexico in 90 days, which Canada could join "if it is willing," Trump's top trade official said on Friday....(read more)

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It's Trump, Not Just the Fed, Driving the Short-Term Muni Frenzy

Bloomberg It's Trump, Not Just the Fed, Driving the Short-Term Muni Frenzy Bloomberg It's not just rising rates. It's Trump, too. That's what Jason Ware, head of trading at 280 CapMarkets in San Francisco, offers as an explanation of short-term municipal bond yields, some of which are holding near a four-year low relative to Treasuries ......(read more)

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Lot Size Remains Record Low

The median lot size of a new single-family detached home sold in 2017 stands at 8,560 square feet, or just under one-fifth of an acre. This is just 2 square feet smaller but statistically not different from the 2016 median. In 2015, the median lot size fell under 8,600 square feet for the first time since Census Bureau's Survey of... Read More ›...(read more)

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The Neighborhood Names With the Highest—and Lowest—Home Prices

What's in a name? Well, when it comes to what a neighborhood is called, a name could signify how much homes within it are worth. The post The Neighborhood Names With the Highest-and Lowest-Home Prices appeared first on Real Estate News & Insights | realtor.com® ....(read more)

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Millennials put pets first when buying a home

When shopping for homes, millennials are putting their pets' needs at the top of their list....(read more)

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Record London Rents Lure Overseas Landlords to House Market

Bloomberg Record London Rents Lure Overseas Landlords to House Market Bloomberg The U.K.'s struggle to secure a favorable Brexit deal may be giving Prime Minister Theresa May a headache, but it's making London's battered buy-to-let market attractive overseas again. Foreign-based landlords owned 12 percent of the homes rented out ... and more »...(read more)

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Consumer sentiment hits 96.2 in August, vs. 95.5 estimate

Consumer sentiment in the U.S. was expected to slide in the final reading of August, further weakening from concerns raised by Americans last month....(read more)

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The $1 billion price cut: Luxury real estate gets slashed

The new federal tax law, which limits deductions of state and local taxes, is also putting pressure on real-estate in high-tax states. And foreign buyers, who were driving some of the highest-priced sales in 2014 and 2015, have pulled back. A stronger dollar has also made U.S. real-estate more expensive....(read more)

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Hotels: Occupancy Rate Unchanged Year-over-Year

From HotelNewsNow.com: STR: US hotel results for week ending 25 August The U.S. hotel industry reported positive year-over-year results in the three key performance metrics during the week of 19-25 August 2018, according to data from STR. In comparison with the week of 20-26 August 2017, the industry recorded the following: • Occupancy: flat at 69.5% • Average daily rate (ADR): +1.8% to US$127.55 • Revenue per available room (RevPAR): +1.8% to US$88.69 ... STR analysts note that percentage changes in several markets were negatively affected by a comparison with the week of the Great American......(read more)

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Canada, U.S. may not reach NAFTA deal within deadline: Globe and Mail

Canada's government officials have expressed concern that a final North American Free Trade Agreement (NAFTA) pact will not be reached within the Friday deadline set by U.S. President Donald Trump, the Globe and Mail reported, citing a source familiar with the matter....(read more)

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Juncker pledges to boost auto tariffs if Trump reneges on agreement

Juncker pledges to boost auto tariffs if Trump reneges on agreement ...(read more)

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Bond yield curves flatten - except in Brexit Britain

Bond yield curves flatten - except in Brexit Britain ...(read more)

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UK House Prices Drop Most Since 2012 as BOE Raises Rates

Bloomberg UK House Prices Drop Most Since 2012 as BOE Raises Rates Bloomberg U.K. house prices fell by the most in six years in August as the Bank of England lifted interest rates, according to Nationwide Building Society. The lender said in a report Friday that values fell 0.5 percent in August. Compared with a year ago, the ... and more »...(read more)

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Jimmy Carter says Trump administration is ignoring affordable-housing shortage

Former President Jimmy Carter told CNBC that the Trump administration is ignoring a national housing crisis, and he urged voters to support candidates who promote affordable housing....(read more)

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Trump wants to move ahead with tariffs on Chinese imports worth $200 billion next week: Bloomberg

U.S. President Donald Trump has told aides he wants to move ahead on a plan to impose tariffs on Chinese imports worth $200 billion next week, Bloomberg News reported, further ratcheting up trade tensions between the world's two largest economies....(read more)

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EU to US: We will scrap auto trade tariffs if you do

Cecilia Malmstrom made the claim in a presentation to European lawmakers....(read more)

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Atlanta Fed lowers U.S. third-quarter GDP view to 4.1 percent

The U.S. economy is expanding at a 4.1 percent annualized rate in the third quarter, the Atlanta Federal Reserve's GDPNow forecast model showed on Thursday, following the release of the advanced economic indicators from the U.S. Census earlier this week....(read more)

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Here are the Most Expensive ZIP Codes for Renters in the U.S.

Here are the Most Expensive ZIP Codes for Renters in the U.S....(read more)

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Mortgage Rates Flatten in July

The Federal Housing Finance Agency reported that mortgage rates on purchases of newly built homes (MIRS) rose by one basis points over the month of July 2018 to 4.60 percent, marking the ninth consecutive monthly increase. The FHFA contract rate for Newly-built homes, also inched up 3 basis points to 4.62 percent in July. However, information compiled by Freddie Mac... Read More ›...(read more)

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Personal Income increased 0.3% in July, Spending increased 0.4%

The BEA released the Personal Income and Outlays report for July: Personal income increased $54.8 billion (0.3 percent) in July according to estimates released today by the Bureau of Economic Analysis. Disposable personal income (DPI) increased $52.5 billion (0.3 percent) and personal consumption expenditures (PCE) increased $49.3 billion (0.4 percent). Real DPI increased 0.2 percent in July and Real PCE increased 0.2 percent. The PCE price index increased 0.1 percent. Excluding food and energy, the PCE price index increased 0.2 percent. The July PCE price index increased 2.3 percent......(read more)

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U.S. weekly jobless claims rise, labor market still tightening

The number of Americans filing for unemployment benefits rose last week, but the underlying trend continued to point to a robust labor market that should keep the economy on a strong growth path this year....(read more)

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As clock ticks, Canada and U.S seek ways to salvage NAFTA

As clock ticks, Canada and U.S seek ways to salvage NAFTA ...(read more)

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U.S. house prices to rise more than 6 percent this year, then slow: Reuters poll

U.S. house prices to rise more than 6 percent this year, then slow: Reuters poll ...(read more)

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The Fed may finally see the change in inflation trend it's been looking for

Finally, the Fed may see the start of the inflation trend it's been waiting for - and that could provide some reinforcement for markets that it's seriously on a path to raise interest rates two more times this year and several more next year....(read more)

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Freddie Mac Underwriting Updates

Home Possible® Mortgages, Student loans, Inquiries on the credit report, Income commencing after the Note Date, etc....(read more)

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Trump says NAFTA talks with Canada likely to meet Friday deadline

U.S. President Donald Trump said on Wednesday that American and Canadian officials negotiating a revamped North American Free Trade Agreement (NAFTA) were probably set to meet a Friday deadline for an accord....(read more)

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Is Home Price Growth Over?

Is Home Price Growth Over?...(read more)

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Big banks win dismissal in U.S. of bond rigging lawsuit

A U.S. judge has dismissed an antitrust lawsuit by investors that accused nine big banks of rigging the roughly $9 trillion government agency bond market from 2005 to 2015....(read more)

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The 4 most important things I wish I'd known before buying my first home

While the home-buying process was exciting and fun, my husband and I were not prepared for the headaches that came with it....(read more)

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How to Build a Sustainable Bond Portfolio

Bloomberg How to Build a Sustainable Bond Portfolio Bloomberg Wall Street's do-good investment boom is finally taking notice of the credit markets. Sustainable investment assets grew 37 percent last year, according to Bloomberg data, but the majority of those funds focus on stocks. That's leading to some awkward ... and more »...(read more)

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Property experts see a 1-in-3 chance of a London house price crash

Despite a weakening pound, Brexit fears are keeping international investors on edge....(read more)

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Here are the most expensive ZIP codes for renters in the US

More than half of the top 50 are in the same city....(read more)

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Q2 GDP Revised up to 4.2% Annual Rate

From the BEA: National Income and Product Accounts Gross Domestic Product: Second Quarter 2018 (Second Estimate) Real gross domestic product (GDP) increased 4.2 percent in the second quarter of 2018 , according to the "second" estimate released by the Bureau of Economic Analysis. The growth rate was 0.1 percentage point more than the "advance" estimate released in July. In the first quarter, real GDP increased 2.2 percent. The GDP estimate released today is based on more complete source data than were available for the "advance" estimate issued last month. In the advance estimate, the......(read more)

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No Trades in Japan 10-Year Bonds Shows Limits of BOJ Tweaks

Bloomberg No Trades in Japan 10-Year Bonds Shows Limits of BOJ Tweaks Bloomberg Japan's benchmark bonds recorded no trades on Wednesday, less than a month after the central bank sought to enliven the world's second-biggest debt market by relaxing yield control. That's the seventh instance this year when the debt didn't change ... and more »...(read more)

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Italy Reportedly May Reach Out to ECB on New Bond Purchase Plan

Bloomberg Italy Reportedly May Reach Out to ECB on New Bond Purchase Plan Bloomberg Italy might be relying on the hope of a new round of government-bond purchases by the European Central Bank to shield its public debt from financial speculation and the threats of a rating downgrade. Newspaper La Stampa reported on Tuesday that the ......(read more)

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Want to refinance your house? Keep these two points in mind

There's two major factors you should consider when deciding whether or not to refinance your house: interest rates and home appreciation, said financial advisor Winnie Sun....(read more)

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Freddie Mac: Mortgage Serious Delinquency Rate Decreased in July

Freddie Mac reported that the Single-Family serious delinquency rate in July was 0.78%, down from 0.82% in June. Freddie's rate is down from 0.85% in July 2017. Freddie's serious delinquency rate peaked in February 2010 at 4.20%. This is the lowest serious delinquency rate for Freddie Mac since March 2008. These are mortgage loans that are "three monthly payments or more past due or in foreclosure".  Click on graph for larger image The increase in the delinquency rate late last year was due to the hurricanes - no worries about the overall market (These are serious delinquencies, so......(read more)

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Zillow Case-Shiller Forecast: Slower House Price Gains in July

The Case-Shiller house price indexes for June were released today. Zillow forecasts Case-Shiller a month early, and I like to check the Zillow forecasts since they have been pretty close. From Aaron Terrazas at Zillow: June Case-Shiller Results and July Forecast It's hard not to notice the winds beginning to shift in the housing market. But those changes have yet to reach the point where they've fully transitioned from home buyer headwinds into tailwinds, and likely won't until at least the end of the decade. Still, the signs of change are here: The U.S. National Case-Shiller Home......(read more)

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U.S. banking regulator kicks off rewrite of community lending rules

A federal banking regulator said on Tuesday it will begin soliciting input on decades-old rules on bank lending in low-income communities, kicking off a long awaited and potentially contentious rulewriting process....(read more)

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Where is the US housing market headed? 4 things you need to know

If you're a real estate agent, odds are you haven't been closing as many deals lately....(read more)

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Mnuchin says he's 'perfectly content' with what many see as a red flag on the economy

Treasury Secretary Steven Mnuchin says he's not worried about the flattening yield curve, but in the bond market many see it as warning about the economy and a potential barometer for recession....(read more)

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The Trump tax cuts were supposed to depress housing prices. They haven't.

Real estate groups warned that President Donald Trump's tax cuts would cause housing prices to fall, but economists have not yet seen that effect in housing data. The New York Times reports....(read more)

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Your Dovish Take on Powell Is Wrong, Goldman Tells Bond Traders

Bloomberg Your Dovish Take on Powell Is Wrong, Goldman Tells Bond Traders Bloomberg Goldman Sachs Group Inc. is telling traders to be wary of reading Federal Reserve Chairman Jerome Powell's comments last week as dovish for the path of interest rates. Ten-year Treasury yields fell Friday on Powell's speech at the Kansas City Fed's ... and more »...(read more)

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Mnuchin Isn't Worried About the Yield Curve

Bloomberg Mnuchin Isn't Worried About the Yield Curve Bloomberg Treasury Secretary Steven Mnuchin said he's "not at all concerned" about the convergence of short- and long-term market interest rates at a time when some investors are worried the flattening yield curve signals a U.S. recession is coming. Having a ......(read more)

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Richmond Fed: "Fifth District Manufacturing Firms Reported Strong Growth in August"

From the Richmond Fed: Fifth District Manufacturing Firms Reported Strong Growth in August Fifth District manufacturing activity expanded in August, according to results of the most recent survey from the Federal Reserve Bank of Richmond. The composite index rose from 20 in July to 24 in August , as all three components (shipments, new orders, and employment) increased. Respondents remained optimistic in August, expecting growth to continue in the coming months. Employment and wages continued to rise, yet manufacturing firms continued to struggle to find workers with the skills they needed,......(read more)

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Consumer confidence hits 133.4 in August, vs. 126.7 estimate

Consumer confidence was expected to slip in August after a solid result in July....(read more)

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U.S. goods trade deficit rises as exports fall

The U.S. goods trade deficit widened sharply in July as exports of agricultural products tumbled, suggesting trade will likely be a drag on economic growth in the third quarter....(read more)

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Goldman teams up with a real estate startup in push to make more home-improvement loans

The Wall Street firm known for advising the powerful and wealthy is now positioning itself as an advocate for the ordinary, debt-strapped consumer....(read more)

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U.S., Mexico reach NAFTA deal, turn up pressure on Canada

U.S., Mexico reach NAFTA deal, turn up pressure on Canada ...(read more)

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