Fannie Mae: Mortgage Serious Delinquency Rate Unchanged in June

Fannie Mae reported that the Single-Family Serious Delinquency rate was unchanged at 0.70% in June, from 0.70% in May. The serious delinquency rate is down from 0.97% in June 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 equals last month as 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), 2.61% are seriously delinquent. For loans made......(read more)

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Trump says Fed Chief Powell 'let us down' by not clearly signaling more rate cuts

Trump says Fed Chief Powell 'let us down' by not clearly signaling more rate cuts<br/>https://ift.tt/2YzQW7kread more)

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Instant View: Fed cuts rates for first time since 2008

The Federal Reserve cut interest rates on Wednesday for the first time since 2008, citing concerns about the global economy and muted U.S. inflation, and signaled a readiness to lower borrowing costs further if needed....(read more)

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Fed Chief Powell says rate cut was a 'mid-cycle adjustment'

Fed Chief Powell says rate cut was a 'mid-cycle adjustment'<br/>https://ift.tt/2GE9HApread more)

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WRAPUP 2-Fed lowers interest rates as expected, leaves door open to more cuts

The Federal Reserve cut interest rates on Wednesday for the first time since 2008, citing concerns about the global economy and muted U.S. inflation, and signaled a readiness to lower borrowing costs further if needed....(read more)

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Fed disappoints markets by sounding more 'neutral' than dovish

The Fed, as expected, cut interest rates by a quarter point, but disappointed markets when it did not tip its hand on future rate cuts....(read more)

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What the Fed's words say about how dovish it will be after the rate cut

If you want to know how dovish the Fed is going to be after it cuts rates, listen to Fed Chair Powell...(read more)

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This state is home to the best cities for renters

The Sun Belt isn't just for retirees. Arizona is home to some of the best cities for renters, according to an analysis by WalletHub. The personal finance site named Scottsdale, Arizona, as the top city for renters....(read more)

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Here's how the Fed sets interest rates and how that rate has changed over the last four decades

While Wall Street insiders spar over monetary tea leaves, what remains uncontested is just how low interest rates are on a historical basis....(read more)

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U.S. Midwest factory index sags to lowest since December 2015: Chicago PMI

U.S. Midwest manufacturing activity unexpectedly deteriorated to its weakest level since December 2015 in July amid ongoing trade dispute between China and the United States, an index jointly developed by MNI Indicators and ISM-Chicago released on Wednesday showed....(read more)

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To Fix Its Housing Crunch, One U.S. City Takes Aim at the Single-Family Home

To Fix Its Housing Crunch, One U.S. City Takes Aim at the Single-Family Home    Bloomberg Minneapolis's answer to rising prices is meant to foster density and racial equity....(read more)

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ADP: Private Employment increased 156,000 in July

From ADP: Private sector employment increased by 156,000 jobs from June to July according to the July ADP National Employment Report®. ... The report, which is derived from ADP's actual payroll data, measures the change in total nonfarm private employment each month on a seasonally-adjusted basis. ... "While we still see strength in the labor market, it has shown signs of weakening," said Ahu Yildirmaz, vice president and co-head of the ADP Research Institute. "A moderation in growth is expected as the labor market tightens further." Mark Zandi, chief economist of Moody's Analytics, said,......(read more)

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25 Or 50 bps? How Will The Market React To The Fed's Rate Cut

25 Or 50 bps? How Will The Market React To The Fed's Rate Cut ...(read more)

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Ahead of the Fed decision, one market expert has one key piece of advice for Jay Powell

As investors brace for an expected rate cut, Peter Boockvar says the Fed better not signal any more rate cuts....(read more)

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Trump Wants to See Fed Make a Large Rate Cut - Bloomberg

Trump Wants to See Fed Make a Large Rate Cut    Bloomberg President Donald Trump says he'd like to see the Fed make a large rate cut. He spoke to reporters at the White House. (Source: Bloomberg)...(read more)

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Trump Demands ‘Large' Fed Rate Cut as Central Bank Set to Meet

Trump Demands ‘Large' Fed Rate Cut as Central Bank Set to Meet    Bloomberg President Donald Trump stepped up his attacks on the Federal Reserve, demanding a "large cut" in interest rates as the U.S. central bank prepares for a meeting ......(read more)

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

The BEA released the Personal Income and Outlays report for June: Personal income increased $83.6 billion (0.4 percent) in June according to estimates released today by the Bureau of Economic Analysis. Disposable personal income (DPI) increased $69.7 billion (0.4 percent) and personal consumption expenditures (PCE) increased $41.0 billion (0.3 percent). Real DPI increased 0.3 percent in June 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 June PCE price index increased 1.4 percent......(read more)

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The Fed Might Not Cut Rates More Than Once

The Fed Might Not Cut Rates More Than Once ...(read more)

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America's Housing Affordability Crisis Spreads to the Heartland

America's Housing Affordability Crisis Spreads to the Heartland    Bloomberg Low mortgage rates and thriving employment should be the recipe for a strong housing market. Instead, they're deepening America's affordability crisis....(read more)

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Possible dissent hangs over Fed's first rate cut in a decade

U.S. Federal Reserve policymakers will not surprise markets if they deliver on expectations and cut U.S. interest rates for the first time in a decade on Wednesday....(read more)

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D.R. Horton tops estimates on higher home sales, lower mortgage rates

No.1 U.S. homebuilder D.R. Horton Inc beat Wall Street estimates for third-quarter profit and revenue on Tuesday, boosted by higher home sales and declining mortgage rates....(read more)

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If Powell Gives an Inch, Bond Traders May Ask Fed for a Mile

If Powell Gives an Inch, Bond Traders May Ask Fed for a Mile    Bloomberg As Federal Reserve Chairman Jerome Powell tries to explain what's likely to be the central bank's first rate cut in more than a decade on Wednesday, it won't ......(read more)

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Wall St. takes a pause in wait for Fed news, trade progress

U.S. stocks stepped back from peak levels on Monday as investors took a breather as they anticipated a U.S. Federal Reserve interest rate cut this week and looked for signs of progress from U.S.-China trade negotiations, currently under way in Shanghai....(read more)

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Housing Share of GDP Continues to Decline

With the release of the estimate of second quarter 2019 GDP growth (2.1% growth rate), housing's share of gross domestic product (GDP) continued a downward trend, more evidence of the the lack of housing supply caused and affected by ongoing housing affordability issues. Housing's share of GDP fell to 14.6%. The home building and remodeling component – residential fixed investment... Read More ›...(read more)

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Why It Could Get More Difficult for Americans to Get Approved for a Mortgage

Justin Sullivan/Getty ImagesThe Consumer Financial Protection Bureau is set to eliminate a regulatory loophole that made getting a mortgage more feasible for thousands of Americans. The consumer watchdog agency announced The post Why It Could Get More Difficult for Americans to Get Approved for a Mortgage appeared first on Real Estate News & Insights | realtor.com® ....(read more)

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10 Stats About Real Estate Agents You Didn't Know

For a lot of real estate agents, life is feast or famine. You never know when your next sale will close and it's on you to bring those deals in....(read more)

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Real estate & U.S. economy are winner-take-all games, says Redfin CEO Glenn Kelman

Inequality is everywhere, even realtors' commissions...(read more)

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Trump Says `A Small Rate Cut Is Not Enough' Ahead of Fed Meeting - Bloomberg

Trump Says `A Small Rate Cut Is Not Enough' Ahead of Fed Meeting    Bloomberg President Donald Trump renewed his attack on the Federal Reserve ahead of its meeting this week, complaining it "probably will do very little" to counteract ......(read more)

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Fed Rate Cut Messaging Needs to Validate Future Stance, Jalinoos Says

Fed Rate Cut Messaging Needs to Validate Future Stance, Jalinoos Says    Bloomberg Shahab Jalinoos, head of FX and macro trading strategy at Credit Suisse, discusses market expectations for a Federal Reserve rate cut this week and how Fed ......(read more)

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Dallas Fed: "Texas Manufacturing Continues Moderate Expansion"

From the Dallas Fed: Texas Manufacturing Continues Moderate Expansion Texas factory activity continued to expand in July, according to business executives responding to the Texas Manufacturing Outlook Survey. The production index, a key measure of state manufacturing conditions, moved from 8.9 to 9.3, indicating output growth continued at roughly the same pace as in June. Other measures of manufacturing activity suggested a slightly faster expansion in July. The new orders index edged up to 5.5, and the growth rate of orders index rebounded into positive territory, climbing nine points to......(read more)

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Southwest Led GDP Growth in the First Quarter of 2019

Real gross domestic product (GDP) increased in all 50 states and the District of Columbia, in the first quarter 2019 compared to the last quarter of 2018. U.S. Bureau of Economic Analysis reported the real GDP growth rates, measured on a seasonally adjusted annual rate basis, ranged from 5.2% in West Virginia to 1.2% in Hawaii. Nationwide, real GDP growth increased... Read More ›...(read more)

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US-China trade talks resume in Shanghai with tempered expectations

Trade representatives from the U.S. and China will begin their first official in-person meeting since the G-20 truce, but neither side is showing any sense of urgency for a trade deal....(read more)

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Older High-End Homes Not Selling in Atlanta

Older High-End Homes Not Selling in Atlanta...(read more)

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Treasury yields move lower as traders look ahead to a Fed meeting

Traders are bracing for a potential cut in interest rates for the first time in more than a decade. The U.S. Federal Reserve meets Tuesday and will announce its latest rate decision on Wednesday....(read more)

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Southern California home sales see weakest June in 5 years, as prices hit new record

High prices are hitting the Southern California housing market hard, reversing the sales gains over the past few months....(read more)

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The Fed is about to cut rates to protect the economy, even though most signs are strong

The Fed is expected to cut rates by a quarter point this week, in a preventative move aimed at limiting the impact of trade wars and slower global growth on the U.S. economy....(read more)

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Amazon Partnership Targets Home Buyers

Amazon Partnership Targets Home Buyers    Bloomberg Will house hunters look for homes in the same place they buy everything else? Amazon is offering up to $5000 in credits to help funnel buyers to Realogy ......(read more)

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ECB Survey Sees Long-Term Inflation Outlook at Record Low

ECB Survey Sees Long-Term Inflation Outlook at Record Low    Bloomberg Longer-term inflation expectations in a European Central Bank survey of professional forecasters dropped to their lowest level on record in the euro area, a day ......(read more)

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Real GDP Annual and Quarterly

The following graphs show real GDP quarterly (blue, annualized), and the year-over-year change in GDP (red). The tax changes at the end of 2017 have had minimal impact on GDP. Most forecasts showed some minor boost in 2018 and 2019 followed by a minor drag starting in 2020. With the new budget agreement, there probably will be little drag from fiscal policy next year. Also, as shown earlier , there was no investment boom following the tax changes. However, the tax changes did result in a large increase in the budget deficit (as predicted by all competent analysts). Click on graph for larger......(read more)

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This is the 'fastest growing trend' in the housing industry, and investors are rushing in

Demand for single-family rental homes is surging, and homebuilders are now stepping in, redesigning and reimagining the sector, and becoming landlords themselves....(read more)

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Strong consumer spending vs. weak business investment: What really matters for the US economy

U.S. consumer spending, the biggest part of the economy, saved the day for the record-long expansion, but a big decline in business investments raised concerns about how much longer it can last....(read more)

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Trump's ambitious Fannie, Freddie overhaul faces hurdles

President Donald Trump's administration faces a growing list of hurdles that could scuttle its ambitions to remove U.S. mortgage giants Fannie Mae and Freddie Mac from their government lifeline....(read more)

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Zero-Down Loans Making a Comeback

Zero-Down Loans Making a Comeback...(read more)

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US GDP up 2.1% in second-quarter, vs 2% growth expected

US GDP up 2.1% in second-quarter, vs 2% growth expected<br/>https://ift.tt/2GqyhVlread more)

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US Treasury yields rise ahead of GDP data

U.S. government debt yields rose Friday morning, as traders looked ahead to fresh data and weighed the possibility of a less dovish tone from the Federal Reserve next week....(read more)

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For Traders, Draghi Wasn't Dovish Enough as Rate Cut Priced In

For Traders, Draghi Wasn't Dovish Enough as Rate Cut Priced In    Bloomberg The euro recovered from a two-year low and bonds reversed gains after Mario Draghi said the European Central Bank had not considered an interest-rate cut ......(read more)

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The Central Bank Punishing Lenders That Won't Lend

The Central Bank Punishing Lenders That Won't Lend: QuickTake    Bloomberg Nigeria's central bank introduced measures last year to encourage commercial banks to lend more, part of a bid to revive one of Africa's biggest economies....(read more)

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Homeownership Rate Falls

According to the Census Bureau's Housing Vacancy Survey (HVS), the nation's homeownership rate in the second quarter of 2019 fell to 64.1%, the lowest since the third quarter of 2017. But it is statistically unchanged from the first quarter of 2019 (64.2%) and a year earlier (64.3%). Compared to the peak of 69.2% in 2004, the homeownership rate is 5... Read More ›...(read more)

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FHA-Backed New Home Sales Increase 60% Year-over-Year

NAHB analysis of the most recent Quarterly Sales by Price and Financing published by the U.S. Census Bureau reveals that mortgages backed by the FHA made up 17.9% (32,000) of total sales (179,000), 7.3 percentage points higher than Q2 2018 (20,000). The FHA share is the highest it has been since the first quarter of 2013. Conventional loans accounted for... Read More ›...(read more)

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Wall St. declines on weak earnings reports; ECB disappoints

U.S. stocks slipped on Thursday after a handful of disappointing earnings pointed to a slowing global economy and as European Central Bank signaled monetary policy easing in the future, underwhelming investors who had expected more....(read more)

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