10 years after the crisis, some investors are still scared of stocks

It was one of the most terrifying moments of the financial crisis: The Dow plunged nearly 780 points on September 29, 2008 ? a 7% wipeout ? after the House voted against a bailout of the nation's biggest banks....(read more)

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The Share of Homes Selling Above List Price Just Dropped Below 2016 Levels

In Seattle, the Share of Homes Selling Above List Fell to 30% this Month from 50% a Year Ago In the four weeks ending on September 23, 22.9 percent of homes sold for more than their asking price, across the metros Redfin tracks. More than one-in-five sounds like a lot, but it represents a 2.6 […] The post The Share of Homes Selling Above List Price Just Dropped Below 2016 Levels appeared first on Redfin Real-Time ....(read more)

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The Homes Where Families Go Off the Grid

Advances in solar, wind and water technologies make tapping renewable energy easier, but it's still hard to fully unplug. The post The Homes Where Families Go Off the Grid appeared first on Real Estate News & Insights | realtor.com® ....(read more)

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New Home Sales in August 2001 Up 12.7 Percent Year-Over-Year & Up 3.5 Percent Sequentially from July

New single family residential (SFR) home sales of 629,000 on seasonally adjusted annualized rate (SAAR) were up 12.7 percent versus a year ago and up 3.5 percent sequentially from July.    Year-to-date new home sales (not seasonally adjusted) of 448,000 units were up 6.9 percent compared to the same period a year ago. There were … Read more...(read more)

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House passes GOP bill to make new tax cuts permanent

Republicans have sped legislation through the House to expand their massive new tax law, capping their session for the year as they rush out of town to face voters in the November elections. ...(read more)

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Atlanta Fed pares U.S. third-quarter GDP growth view to 3.6 percent

The U.S. economy is expanding at a 3.6 percent annualized rate in the third quarter, the Atlanta Federal Reserve's GDPNow forecast model showed on Friday, following the release of August data on domestic consumption and income....(read more)

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Cost of Owning a Home in Toronto, Vancouver Goes 'Off the Charts'

Bloomberg Cost of Owning a Home in Toronto, Vancouver Goes 'Off the Charts' Bloomberg The cost of owning a home in Canada is at the highest level in 28 years and likely to get only more onerous as interest rates continue to rise, according to a report from Royal Bank of Canada. Carrying a home, including the cost of a mortgage, property ......(read more)

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Southwest and the Rocky Mountain Regions Led GDP Growth in the First Quarter of 2018

Real gross domestic product (GDP) increased in 48 states and the District of Columbia, declined in North Dakota and remained unchanged in Arkansas in the first quarter 2018 compared to the last quarter of 2017. U.S. Bureau of Economic Analysis reported the GDP growth rates, measured on a seasonally adjusted annual rate basis, ranged from 3.6% in Washington to a decline... Read More ›...(read more)

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U.S.-Mexico trade deal text to exclude Canada, irritating U.S. lawmakers

The Trump administration is expected to release the text of its trade agreement with Mexico as early as Friday, launching a contentious congressional approval process as it tries to coax Canada into a revamped North American Free Trade Agreement....(read more)

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US consumer spending increased steadily in August

U.S. consumer spending increased steadily in August, while a measure of underlying inflation remained at the Federal Reserve's 2 percent target for a fourth straight month....(read more)

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Italy raises deficit target, defies EU and rattles markets

Italy's new government proposed a 2019 budget with a deficit three times bigger than the previous administration's target, setting up a clash with the European Commission and sparking a sell-off of state bonds....(read more)

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Fed's Treasury and securities holdings fall below $4 trillion for the first time in 4 years

The U.S. Federal Reserve's portfolio of Treasury and mortgage-backed securities has dropped below $4 trillion for the first time in more than four years, according to Fed data....(read more)

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Bay Area home sales tank 10 percent in August — to the slowest pace in 7 years

Sales of Bay Area homes fell 10 percent in August to the slowest pace in 7 years. San Francisco itself saw sales fall 7 percent, as buyers hit an affordability wall. Despite the sales slowdown, the median price of a Bay Area home sold in August was up 12 percent compared with August 2017....(read more)

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Fed chief Powell signals central bank is done with signaling

Federal Reserve Chairman Jerome Powell has a new message for financial markets: watch the data on jobs, wages and inflation for signals on monetary policy - not the U.S. central bank's words or forecasts....(read more)

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The Renters Strike Back

It is a dark time for renters. Although U.S. housing markets have recovered from the Great Recession, rising rents are driving financial insecurity among low- and moderate-income families throughout the country. In California, a group of YIMBY activists led by state senator Scott Weiner is trying to establish apartment-friendly zones around transit stations, wrestling away…                ...(read more)

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Testimony Before the House Financial Services Committee

By Donald H. Layton, CEO The mortgage system we have today is fundamentally better than the one we had ten years ago, plain and simple. It is more safe-and-sound, more efficient and does a far better job of protecting taxpayers. Read More...(read more)

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Whetton: More US Rate Hikes Are Coming

Whetton: More US Rate Hikes Are Coming Bloomberg (Bloomberg) -- Despite the Fed continuing to hike rates, the US economy will slow due to trade tensions with China, according to Martin Whetton, Senior Rates Strategist at ANZ Banking Group. He also told Daybreak Europe's Markus Karlsson and Yousef ......(read more)

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Hutchins Roundup: Local Market Concentration, Consumer Responses to Tax Refunds, and More

Studies in this week's Hutchins Roundup find that local product markets have become less concentrated, consumers respond unevenly to tax payments and refunds, and more. Want to receive the Hutchins Roundup as an email? Sign up here to get it in your inbox every Thursday. While national concentration is rising, local markets are becoming more competitive Large national…                ...(read more)

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December 2006: Tanta joined CR!

CR Note: Gone hiking! I will return on Thursday, Oct 4th. There will be a few posts on Tanta today. In December 2006, my friend Doris "Tanta" Dungey started writing for Calculated Risk. When some people say that here are few women bloggers in finance and economics, I remind them that Tanta was the best of all of us! From December 2006, until she passed away from ovarian cancer on Nov 30, 2008, Tanta was my co-blogger. Tanta worked as a mortgage banker for 20 years, and we started chatting in early 2005 about the housing bubble and the changes in lending practices. In 2006, Tanta was diagnosed ......(read more)

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New orders for key US-made capital goods unexpectedly dropped in August

Orders for long-lasting U.S. factory goods were expected to rise 2 percent in August, after falling 1.7 percent a month earlier....(read more)

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Final reading on Q2 GDP confirms 4.2% gain, the fastest rise in nearly four years

The final reading on second-quarter gross domestic product was expected to show a rise of 4.2 percent, up from the 2.2 percent increase in the previous quarter....(read more)

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Forecasts: Residential Refinance & Purchase Lending, 30-Year Conventional Mortgage Rates, Home Sales — September 2018

Existing home sales continue to mimic a slow-leaking tire this year, as sales have fallen short in four of the eight months thus far in 2018 versus a year ago. Year-to-date sales are down 1.23 percent.  Though sales are down, rising prices are compensating lending with the median up 5.1 percent compared to the same … Read more...(read more)

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Curve Flattening Returns With Gusto as Fed Pledges More Hikes

Bloomberg Curve Flattening Returns With Gusto as Fed Pledges More Hikes Bloomberg Treasuries traders had little alternative but to return to business as usual after the Federal Reserve's latest rate hike. For most bond-market participants, that meant flattening the yield curve. Traders looking for an extension of the modest curve ......(read more)

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World shares lack momentum, U.S. bond yields fall as Fed sticks to script

Global shares struggled in volatile trade on Thursday with Asian markets giving up earlier gains after the Federal Reserve raised interest rates and affirmed plans for more policy tightening through to 2020....(read more)

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Fed sounds less aggressive than expected and less confident in long-term growth

Stocks and bonds seesawed as investors took the Fed's message first to be dovish, then less so after Fed Chair Jerome Powell spoke about Fed policy.....(read more)

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Instant view: Analysts react to fed rate hike

The U.S. Federal Reserve raised interest rates on Wednesday, as expected, and left its monetary policy outlook for the coming years largely unchanged amid steady economic growth and a strong job market....(read more)

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Fed's Powell says drop of 'accommodative' does not signal any change in rate hike path

The Fed chairman sought to clarify one of the actions by the Fed on Wednesday that was confusing traders....(read more)

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Federal Reserve Board and Federal Open Market Committee release economic projections from the September 25-26 FOMC meeting

Federal Reserve Board and Federal Open Market Committee release economic projections from the September 25-26 FOMC meeting...(read more)

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Fed still expects one more rate hike in 2018, three for 2019

The Federal Open Market Committee released its quarterly economic forecast, which includes the so-called dot plot of where members anticipate interest rates to head....(read more)

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House Poised To Pass Spending Bill To Avoid Government Shutdown

House Speaker Paul Ryan, R-Wis., says he is confident the president will sign the legislation. The Senate passed the bill earlier this month....(read more)

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Millennials are flocking to cities where they may never be able to afford a home

In some of the most popular neighborhoods for millennials, real-estate prices in the millions put homes well out of reach....(read more)

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Apartment rents are suddenly rising faster, reversing year-long trend

A stronger economy, along with an overheated housing market are pushing demand for apartment rentals. Vacancies are down and rents are up....(read more)

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UK faces permanent debate over financial rules after Brexit: lawmaker

Britain faces a permanent debate over whether to copy or diverge from European Union financial rules after Brexit, a top UK lawmaker said on Wednesday in comments likely to prolong uncertainty for banks....(read more)

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Canada PM says won't be rushed on NAFTA, new deal not guaranteed

Canadian Prime Minister Justin Trudeau on Wednesday said he would not be rushed into renewing NAFTA and indicated it was possible the three member nations might fail to conclude a new pact....(read more)

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New home sales rebound in August, prior months revised lower

Sales of new U.S. single-family homes increased more than expected in August after two straight monthly declines, but the underlying trend still pointed to a weakening housing market amid rising mortgage rates and higher home prices....(read more)

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Italy's government could send markets on another rollercoaster ride

Markets have been nervous about new spending plans in Italy, following a general election that led to a populist government....(read more)

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

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 Melissa Allison at Zillow: July Case-Shiller Results and August Forecast: Autumn Chill A slight autumn chill has fallen over the housing market, and after an incredibly hot past few years, it's probably fair to say the cooldown is a welcome development for many would-be home buyers. ... Seasons, just like the housing market, change slowly as environmental conditions shift. Winter in the......(read more)

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Fed likely to raise rates, possibly end 'accommodative' policy era

With the Federal Reserve widely expected to raise interest rates on Wednesday, financial markets are focused on whether signs of an acceleration in U.S. economic growth will prompt the central bank to ramp up the pace of monetary policy tightening....(read more)

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Ahead of expected Fed rate hike, Wells Fargo urges investors to reduce risk to safeguard gains

Wells Fargo's Christopher Harvey explains why investors should act more cautiously and target contrarian plays....(read more)

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CNBC FED SURVEY: CNBC'S STEVE LIESMAN: FED EXPECTED TO HIKE RATES TWICE MORE THIS YEAR AND THEN RISK A 'POLICY MISTAKE'

CNBC FED SURVEY: CNBC'S STEVE LIESMAN: FED EXPECTED TO HIKE RATES TWICE MORE THIS YEAR AND THEN RISK A 'POLICY MISTAKE'|| 105470719...(read more)

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

Here is the earlier post on Case-Shiller: Case-Shiller: National House Price Index increased 6.0% year-over-year in July It has been over eleven years since the bubble peak. In the Case-Shiller release this morning, the seasonally adjusted National Index (SA), was reported as being 9.9% above the previous bubble peak. However, in real terms, the National index (SA) is still about 9.6% below the bubble peak (and historically there has been an upward slope to real house prices).  The composite 20, in real terms, is still 15.7% below the bubble peak. The year-over-year increase in......(read more)

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Amazon makes first investment in a home builder, backing start-up focused on prefabricated houses

Amazon made its first investment in a homebuilding start-up Tuesday, furthering its commitment to the smart home space....(read more)

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The key bond rate that affects mortgages looks ready to break higher

The key rate that affects mortgages and a slew of other loans is looking ready to break higher....(read more)

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Richmond Fed: "Fifth District Manufacturing Activity Was Robust in September"

From the Richmond Fed: Fifth District Manufacturing Activity Was Robust in September Fifth District manufacturing activity was robust in September, according to results of the most recent survey from the Federal Reserve Bank of Richmond. The composite index rose from 24 in August to 29 in September , buoyed by increases in shipments and new orders, while the index of the third component, employment, dropped. Survey respondents were optimistic, expecting growth to continue in the next six months. The employment index fell in September but remained positive , while growth in wages and the......(read more)

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Fed Rate Path, ECB Inflation Comments, Italy's Budget: Eco Day

Bloomberg Fed Rate Path, ECB Inflation Comments, Italy's Budget: Eco Day Bloomberg The Federal Reserve will raise interest rates this week and continue its quarterly drumbeat of 25-basis-point increases straight through July 2019, according to a Bloomberg survey; Trump and his South Korean counterpart signed a renegotiated free-trade ......(read more)

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Consumer confidence rises to highest level in 18 years

Consumer confidence rose in September, notching its highest level in about 18 years....(read more)

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Redfin Housing Demand Index Unchanged For Fourth Consecutive Month in August

The Demand Index posted its largest year-over-year decline since March 2016 The Redfin Housing Demand Index has remained roughly unchanged for the past four months, inching up 0.3 percent from July to 125.2 in August, as an increase in price drops and softening demand in previously hot markets point to an environment enabling homebuyers to […] The post Redfin Housing Demand Index Unchanged For Fourth Consecutive Month in August appeared first on Redfin Real-Time ....(read more)

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Northeast and Midwest Lags in Job Gains in August

Over the year, total nonfarm employment in July increased by 2.3 million jobs which is a 1.6% increase compared to August 2017. During this time, total nonfarm employment in the Western region increased by 2.4% and the Southern region increased by 2.1%. The Midwest recorded the lowest gains at 1.3% during this time. According to the Bureau of Labor Statistics,... Read More ›...(read more)

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Case-Shiller: National House Price Index increased 6.0% year-over-year in July

S&P/Case-Shiller released the monthly Home Price Indices for July ("July" is a 3 month average of May, June and July prices). This release includes prices for 20 individual cities, two composite indices (for 10 cities and 20 cities) and the monthly National index. Note: Case-Shiller reports Not Seasonally Adjusted (NSA), I use the SA data for the graphs. From S&P: Home Price Gains Slow According to the S&P CoreLogic Case-Shiller Index The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, covering all nine U.S. census divisions, reported a 6.0%......(read more)

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China says U.S. putting 'knife to its neck', hard to proceed on trade

China says U.S. putting 'knife to its neck', hard to proceed on trade ...(read more)

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