Fannie Mae: Mortgage Serious Delinquency Rate Decreased in May, Lowest Since July 2007

Fannie Mae reported that the Single-Family Serious Delinquency rate decreased to 0.70% in May, from 0.72% in April. The serious delinquency rate is down from 1.03% in May 2018. 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 rate for Fannie Mae since July 2007. Click on graph for larger image By vintage , for loans made in 2004 or earlier (3% of portfolio), 2.57% are seriously delinquent. For loans made in 2005 through 2008......(read more)

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U.S. banks play cat-and-mouse game with Fed on capital returns

An annual stress test of banks introduced by U.S. regulators after the 2007-09 financial crisis to prevent taxpayer bailouts has become a fight over how quickly lenders can return capital to shareholders....(read more)

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Explainer: U.S.-China trade talks: where they are and what's at stake

U.S. President Donald Trump and Chinese President Xi Jinping are due to meet on Saturday at the Group of 20 (G20) summit in Japan to try to resurrect a deal to end a costly trade war....(read more)

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83% of non-homeowners say student loans are the reason they can't afford to buy

Home co-investment company Unison found that 83% of non-homeowers say student debt is the reason they can't afford to buy a home right now. However, it might not be the only issue at play....(read more)

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Q2 GDP Forecasts: Around 1.5%

From Goldman Sachs: The May core PCE price index increased 0.19% month-over-month, close to expectations, but the year-over-year exceeded consensus by a tenth reflecting the price revisions in yesterday's GDP report. Personal spending increased by 0.4% and was revised higher in April, and the personal saving rate remained flat at 6.1%. We left our Q2 GDP tracking estimate unchanged at +1.5% (qoq ar). [June 28 estimate] emphasis added From the NY Fed Nowcasting Report The New York Fed Staff Nowcast stands at 1.3% for 2019:Q2 and 1.2% for 2019:Q3. [June 28 estimate]. And from the Altanta Fed:......(read more)

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Philly Fed: State Coincident Indexes increased in 41 states in May

From the Philly Fed : The Federal Reserve Bank of Philadelphia has released the coincident indexes for the 50 states for May 2019. Over the past three months, the indexes increased in 45 states, decreased in four states, and remained stable in one, for a three-month diffusion index of 82. In the past month, the indexes increased in 41 states , decreased in five states, and remained stable in four, for a one-month diffusion index of 72. emphasis added Note: These are coincident indexes constructed from state employment data. An explanation from the Philly Fed: The coincident indexes combine......(read more)

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Shares in big banks climb as Fed approves capital plans

Shares in the S&P 500 bank index rose 2.6% on Friday after the U.S. Federal Reserve approved the capital plans of the biggest U.S. banks, giving them a clean bill of health....(read more)

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U.S. Core Inflation Shows Signs of Life as Fed Weighs Rate Cut

U.S. Core Inflation Shows Signs of Life as Fed Weighs Rate Cut    Bloomberg The Federal Reserve's preferred measure of underlying U.S. inflation showed signs of picking up in May toward the central bank's goal, potentially raising the ......(read more)

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Multiple Fed Cuts, Trade Deal Path Plot, Uncertain Yuan: Eco Day

Multiple Fed Cuts, Trade Deal Path Plot, Uncertain Yuan: Eco Day    Bloomberg Welcome to Friday, Asia. Here's the latest news and analysis from Bloomberg Economics to help get your day started:...(read more)

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Trump Wants Fed to Weaken Dollar. Powell Says That's Not His Job

Trump Wants Fed to Weaken Dollar. Powell Says That's Not His Job    Bloomberg President Donald Trump wants a weaker dollar to help boost exports, and is counting on the Federal Reserve to help make that happen. But the central bank's ......(read more)

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Stocks gain on U.S.-China trade truce hopes, dollar flat

Global equity markets gained and the dollar held steady on Thursday ahead of the G20 summit where a much-anticipated meeting of U.S. President Donald Trump and Chinese President Xi Jinping may lead to a truce in the U.S.-China trade war....(read more)

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Trump decision on China tariffs depends on Xi meeting: U.S. official

U.S. President Donald Trump's decision on whether to impose a new round of tariffs on Chinese goods is contingent on the outcome of his meeting this weekend with Chinese President Xi Jinping, for which no preconditions have been agreed, a senior Trump administration official said on Thursday....(read more)

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Reis: Apartment Vacancy Rate unchanged in Q2 at 4.7%

Reis reported that the apartment vacancy rate was at 4.7% in Q2 2019, unchanged from 4.7% in Q1, and unchanged from 4.7% in Q2 2018. The vacancy rate peaked at 8.0% at the end of 2009, and bottomed at 4.1% in 2016. From chief economist Victor Calanog at Reis: The apartment vacancy rate was flat in the quarter at 4.7% - a zero net change from a year ago. After climbing 60 basis points from a low of 4.1% in Q3 2016, the vacancy rate has remained near 4.7% since the first quarter of 2018. The national average asking rent increased 1.2% in the second quarter while effective rent, which nets out......(read more)

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The bond market is doing something that is usually a sign for investors to 'flee for the hills'

For recession-wary investors, the bond market might be sending another doomsday signal after the yield curve inversion....(read more)

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Kudlow: No preconditions are set for China trade meeting, may move ahead on additional tariffs

Kudlow: No preconditions are set for China trade meeting, may move ahead on additional tariffs<br/>https://ift.tt/2Yi9DwPread more)

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Kansas City Fed: "Tenth District Manufacturing Activity Flat"

From the Kansas City Fed: Tenth District Manufacturing Activity Flat The Federal Reserve Bank of Kansas City released the June 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 was flat in June, while expectations for future activity remained solid. "Regional factory growth was relatively flat," said Wilkerson. "However, nearly 70 percent of manufacturing contacts reported confidence in the U.S. economy, and a majority have not changed their 2019 plans ......(read more)

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Homebuying Difficult for Americans in Three-Fourths of Markets

Homebuying Difficult for Americans in Three-Fourths of Markets    Bloomberg Purchasing a median-priced home in the U.S. is a financial stretch for Americans in the majority of markets despite slowing growth in real estate prices, low ......(read more)

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US economy grew at solid 3.1% rate in the first quarter

The final reading on first-quarter gross domestic product was expected to show growth of 3.1%, matching its prior reading....(read more)

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China urges U.S. to lift sanctions on Huawei as Trump-Xi meeting looms

The United States should immediately remove sanctions on Chinese telecoms equipment maker Huawei, a commerce ministry spokesman said on Thursday, days before the two countries' leaders are due to meet for talks on trade....(read more)

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Trump says trade deal 'possible' with China's Xi, tariffs could be lower

U.S. President Donald Trump said on Wednesday that a trade deal with Chinese President Xi Jinping was possible this weekend but he is prepared to impose U.S. tariffs on virtually all remaining Chinese imports if the two countries continue to disagree....(read more)

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Donald Trump is Getting Mario Draghi All Wrong - Bloomberg

Donald Trump is Getting Mario Draghi All Wrong    Bloomberg The ECB chief isn't the stimulus champion of Trump's dreams. The two men have conflicting ideas on monetary and fiscal policy, and independence....(read more)

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Trump says he can fire Fed's Powell; it's not that simple

U.S. President Donald Trump accused Federal Reserve Chairman Jerome Powell on Wednesday of doing a "bad job" and "out to prove how tough he is," but any move to oust him would likely touch off a legal fight with big repercussions in financial markets as well....(read more)

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Suddenly, the build-to-rent single-family housing market is exploding

During the foreclosure crisis, investors transformed the single-family home rental market into a formally managed asset class. Now they want new homes....(read more)

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There's a Huge Gap Between What Home Buyers Want and What's for Sale

There needs to be 94,000 homes priced between $100,000 and $340,000 to achieve equilibrium in the property market, according to a new study. The post There's a Huge Gap Between What Home Buyers Want and What's for Sale appeared first on Real Estate News & Insights | realtor.com® ....(read more)

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U.S. Rates Volatility Gears Up for Aging Business Cycle to Turn

U.S. Rates Volatility Gears Up for Aging Business Cycle to Turn    Bloomberg A surge in U.S. rates volatility may have legs as traders stare at the prospect of a full easing cycle by the Federal Reserve....(read more)

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U.S. Treasury Secretary says U.S., China were close to trade deal: CNBC

U.S. Treasury Secretary Steven Mnuchin said on Wednesday that the United States and China were close to a trade deal, CNBC reported....(read more)

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Trump says Fed should cut U.S. rates; Powell doing 'bad job'

U.S. President Donald Trump on Wednesday called on the Federal Reserve to lower interest rates so the United States can compete with countries that he said are devaluing their currencies....(read more)

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Not sure what your renters insurance covers? You're not alone

There are a number of misconceptions about what renters insurance covers and how much it costs, a recent survey found....(read more)

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US core capital goods orders rebound; shipments increase

U.S. factory orders for long-lasting goods were expected to ease 0.1% in May, after sinking 2.1% a month earlier....(read more)

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Treasury yields tick higher as investors digest Powell comments

U.S. government debt prices were lower Wednesday morning, after Federal Reserve policymakers tempered expectations in the markets for aggressive monetary easing....(read more)

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Fed pushes back on aggressive U.S. rate cut views

Federal Reserve officials on Tuesday pushed back on market expectations and presidential pressure for the central bank to deliver a significant U.S. interest rate cut of half a percentage point as soon as its next meeting....(read more)

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Fed's Barkin sees risk the U.S. could talk itself into a recession; no sign of it yet

Richmond Federal Reserve President Thomas Barkin on Tuesday said there was a risk the United States could talk itself into a recession but added he saw no sign of this happening yet....(read more)

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Fannie, Fintech Face Congress With Wall Street Watching Closely - Bloomberg

Fannie, Fintech Face Congress With Wall Street Watching Closely    Bloomberg Analysts will be scrutinizing separate hearings on Tuesday for signals on the future of housing finance and financial technology....(read more)

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6 Things Every Home Buyer, Seller, and Owner Need to Know About Today's Housing Market

It doesn't matter if you own a home or rent one, everyone should know what's going on in the housing market. Here is what's happening with housing today. The post 6 Things Every Home Buyer, Seller, and Owner Need to Know About Today’s Housing Market appeared first on Real Estate News & Insights | realtor.com® ....(read more)

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Powell, Economic Outlook and Monetary Policy Review

Speech At the Council on Foreign Relations, New York, New York...(read more)

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Powell says Fed is wrestling with whether to cut rates, insulated from politics

Federal Reserve Chairman Jerome Powell on Tuesday said the U.S. central bank is "insulated from short-term political pressures," as policymakers wrestle with whether to cut rates as President Donald Trump has demanded....(read more)

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Here are the best places to own a home – and pay fewer taxes

To determine the best places to own a home and pay fewer taxes, GOBankingRates analyzed median home values, state and local income tax rates, sales and use tax rates, median real estate taxes paid, and effective property tax rates in more than 200 cities....(read more)

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Fed's Williams Says Bias in U.S. Economy Is Holding Back Growth

Fed's Williams Says Bias in U.S. Economy Is Holding Back Growth    Bloomberg Federal Reserve Bank of New York President John Williams called attention to bias in the U.S. economy in remarks for the OPEN Finance Forum Tuesday, ......(read more)

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US consumer confidence falls to 121.5 in June, vs. 131.1 expected

The Conference Board, a business research group, on Tuesday released the June update for its consumer confidence index....(read more)

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Home price gains shrink slightly in April, but some cities are heating up again: S&P Case-Shiller

Home prices in April were 3.5% higher compared with April 2018, according to the S&P CoreLogic Case-Shiller U.S. National Home Price Index....(read more)

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Market is excessively optimistic on Fed cuts and trade, top economist warns

Wilmington Trust's Luke Tilley believes the record rally's foundation is on shaky ground....(read more)

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US Treasury yields lower ahead of Powell's speech

U.S. government debt prices were higher Tuesday morning, as traders prepare to hear from Federal Reserve chief Jerome Powell and monitor fresh sanctions on Iran....(read more)

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Fed's Kaplan Says He's ‘Concerned' a Rate Cut May Fuel Imbalances

Fed's Kaplan Says He's ‘Concerned' a Rate Cut May Fuel Imbalances    Bloomberg Federal Reserve Bank of Dallas President Robert Kaplan on Monday sounded a note of caution about cutting interest rates. "I am concerned that adding ......(read more)

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Mario Draghi Can Leave One Last Monetary Gift - Bloomberg

Mario Draghi Can Leave One Last Monetary Gift    Bloomberg The ECB is unlikely to cut rates now, but there is a way it could reassure markets for the future....(read more)

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Fed's Kaplan says it's 'too early' to decide if interest rates need to be cut

"I believe it would be wise to take additional time and allow events to unfold" before deciding on rates, the Dallas Fed official said in an essay....(read more)

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Home Depot CEO says company hopes to cut costs to reduce impact of tariffs on consumer prices

Home Depot CEO Craig Menear said the company aims to minimize any impact that potential tariffs will have on customers by cutting costs elsewhere in the supply chain. The company makes 70% of its goods domestically, which also lessens the effect....(read more)

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Chicago Fed "Index points to a pickup in economic growth in May"

From the Chicago Fed: Index points to a pickup in economic growth in May Led by improvements in production-related indicators, the Chicago Fed National Activity Index (CFNAI) rose to –0.05 in May from –0.48 in April . Three of the four broad categories of indicators that make up the index increased from April, but only one of the four categories made a positive contribution to the index in May. The index's three-month moving average, CFNAI-MA3, moved up to –0.17 in May from –0.37 in April. emphasis added This graph shows the Chicago Fed National Activity Index (three month moving average)......(read more)

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Central Bankers Score a Record for Investors, for Now - Bloomberg

Central Bankers Score a Record for Investors, for Now    Bloomberg The Fed's encouraging rate decision is not the end of the global uncertainty....(read more)

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Trump says did not threaten to demote Fed's Powell: NBC interview

U.S. President Donald Trump said on Sunday on NBC's 'Meet the Press' news program that he has the power to demote Federal Reserve Chairman Jerome Powell but has not threatened to do so....(read more)

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Latest 2019-2021 Predictions: Home Sales & Prices, Mortgage Rates & Loan Volume

More refis, less purchases. But still mostly purchases, which changes the industry....(read more)

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