Fannie Mae: Mortgage Serious Delinquency Rate Declined in July, Lowest Since June 2007

Fannie Mae reported that the Single-Family Serious Delinquency declined to 0.67% in July, from 0.70% in June. The serious delinquency rate is down from 0.88% in July 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 June 2007. Click on graph for larger image By vintage , for loans made in 2004 or earlier (3% of portfolio), 2.51% are seriously delinquent. For loans made in 2005 through 2008 (4% of ......(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

from Around The Web https://ift.tt/2UrK6Ax
via IFTTT

U.S. Consumer Sentiment Falls Most Since 2012 on Trade Fears

U.S. Consumer Sentiment Falls Most Since 2012 on Trade Fears    Bloomberg U.S. consumer sentiment fell the most in six years, slumping to the lowest level of Donald Trump's presidency as Americans expressed concern about how his ......(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

from Around The Web https://ift.tt/2UjZmyY
via IFTTT

Ray Dalio warns of 'serious problems' and a bond 'blow-off' as a repeat of the late 1930s looms

Hedge fund titan Ray Dalio is worried that the current landscape is starting to resemble Depression-era conditions that could hammer investors....(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

from Around The Web https://ift.tt/2PmpGKb
via IFTTT

Hurricanes and Economic Data

For everyone in Florida - stay safe! Frequently there is a temporary slowdown in several growth indicators following a large natural disaster.  And usually there is a pretty rapid bounce back following the disaster. Hurricane Dorian might negatively impact Q3 GDP, and September auto sales and housing. Since this coming week is not the BLS reference week (includes the 12th of the month), there will probably be limited impact on September employment. The first economic indicator to be impacted by the hurricane will probably be weekly unemployment claims. Click on graph for larger......(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

from Around The Web https://ift.tt/2Lgt3gx
via IFTTT

China-U.S. trade talk teams keeping 'effective communication': China

Chinese and U.S. trade negotiating teams are maintaining effective communication, China's Foreign Ministry said on Friday, less than 48 hours before U.S. tariffs kick in on an additional $125 billion in Chinese goods....(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

from Around The Web https://ift.tt/2HzikNd
via IFTTT

Here's why millions of millennials are not homeowners

Homeownership among millenials is lower than their parents and grandparents. Here's why...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

from Around The Web https://ift.tt/2ZEkPrD
via IFTTT

U.S., China Locked in Stare-Down as New Tariffs Set for Weekend

U.S., China Locked in Stare-Down as New Tariffs Set for Weekend    Bloomberg Sausages, ketchup and mustard, plastic plates -- all essential ingredients for Americans tending to their grills this Labor Day weekend. Soon they'll be 15% more ......(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

from Around The Web https://ift.tt/2UgweZw
via IFTTT

Single-Family Gains Limited to Rural Areas and Exurbs: 2Q19 HBGI

When NAHB's Home Building Geography Index (HBGI) was unveiled, it examined construction along a population density-based delineation of U.S. counties into such geographies as suburbs, exurbs, rural areas, etc. The second quarter release introduces a new geography, manufacturing areas, while updating the first regional tracking, as described here. Of the seven "regions" of the HBGI, only exurbs and rural areas... Read More ›...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

from Around The Web https://ift.tt/32d9kVN
via IFTTT

Strong consumer spending seen underpinning U.S. economy

U.S. consumer spending increased solidly in July as households bought a range of goods and services, which could further allay financial market fears of a recession, but the strong pace of consumption is unlikely to be sustained amid tepid income gains....(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

from Around The Web https://ift.tt/2zz0Wni
via IFTTT

Ditech Sale Blocked by Homeowner Claims of Botched Mortgages

Ditech Sale Blocked by Homeowner Claims of Botched Mortgages    Bloomberg Bankrupt mortgage servicer Ditech Holding Corp. saw its reorganization plan rejected on Wednesday after a federal judge ruled the company couldn't sell its ......(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

from Around The Web https://ift.tt/2ZzY4oM
via IFTTT

Month of bond market milestones: How low can you go?

August has turned out to be another month of milestones for bond markets as an escalating trade conflict fans recession fears, pushing borrowing costs deeper and deeper into negative territory....(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

from Around The Web https://ift.tt/2ZrwjiM
via IFTTT

ECB's Knot Says Economy Doesn't Yet Warrant Resumption of QE - Bloomberg

ECB's Knot Says Economy Doesn't Yet Warrant Resumption of QE    Bloomberg European Central Bank policy maker Klaas Knot said the euro-area economy isn't weak enough to warrant the resumption of bond purchases and such a step ......(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

from Around The Web https://ift.tt/2ZqtzSM
via IFTTT

As U.S. Treasuries sizzle, some bond investors brace for possible sell-off

While there seems to be no end on the horizon to this year's dramatic rally in U.S. Treasuries that has collapsed yields more than a full percentage point, conditions are ripening for a reversal that could disrupt the market....(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

from Around The Web https://ift.tt/2LtSBqH
via IFTTT

'Grossly irresponsible' – Larry Summers blasts ex-Fed president's call to thwart Trump in 2020

"That is to misunderstand entirely the role of appointed officials in a democracy," Summers said....(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

from Around The Web https://ift.tt/349vwBP
via IFTTT

Pimco calls on the Fed to cut rates ‘aggressively' on growth worries

The world's largest and most influential bond manager has called on the Federal Reserve to cut interest rates more aggressively than it is expected to, warning that recent data points are underestimating the extent of the American economy's slowdown. ...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

from Around The Web https://ift.tt/2ZrxjUk
via IFTTT

The Fed could cause a recession unless it significantly cuts rates, top Stifel strategist says

"Rates signal a bear market, and Fed hesitations risk a repeat of Custer's last stand at Little Big Horn," says Stifel's Barry Bannister....(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

from Around The Web https://ift.tt/2L4dUQx
via IFTTT

Banks Fire Up Their Mortgage Machine for a New Refinancing Boom

Banks Fire Up Their Mortgage Machine for a New Refinancing Boom    Bloomberg Lenders thought it was time to shrink their mortgage businesses. Now they're finding they were wrong....(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

from Around The Web https://ift.tt/2ZpXSZO
via IFTTT

Italy's Conte gets green light to form new government

Italy's president asked Giuseppe Conte to head up a coalition of the 5-Star Movement and opposition Democratic Party (PD) on Thursday, a move could that could improve in Italy's fractious relations with the European Union....(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

from Around The Web https://ift.tt/2HvdTmm
via IFTTT

Fed's Kaplan Open to Rate Cut, Daly in ‘Watch-and-See' Mode

Fed's Kaplan Open to Rate Cut, Daly in ‘Watch-and-See' Mode    Bloomberg Two Federal Reserve policy makers separately suggested that headwinds confronting the U.S. economy might warrant another cut in interest rates....(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

from Around The Web https://ift.tt/32b5Q61
via IFTTT

China says it won't immediately respond to tariff hike, boosting U.S. stock futures

China says it won't immediately respond to tariff hike, boosting U.S. stock futures ...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

from Around The Web https://ift.tt/2LsYggH
via IFTTT

Weekly jobless claims rise to 215,000, in line with expectations

Weekly jobless claims rise to 215,000, in line with expectations<br/>https://ift.tt/2UfGzVzread more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

from Around The Web https://ift.tt/349tHFb
via IFTTT

San Francisco Fed President & CEO Mary Daly on Fed Policy, Inflation Target, December Hike

San Francisco Fed President & CEO Mary Daly on Fed Policy, Inflation Target, December Hike    Bloomberg San Francisco Fed President and CEO Mary Daly discusses the possibility of a Fed rate cut next month, what she sees in the data that would warrant a cut, ......(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

from Around The Web https://ift.tt/2L3sgQZ
via IFTTT

Mnuchin Says Ultra-Long Bonds Under ‘Very Serious Consideration'

Mnuchin Says Ultra-Long Bonds Under ‘Very Serious Consideration'    Bloomberg Treasury Secretary Steven Mnuchin said issuing ultra-long U.S. bonds is "under very serious consideration" in the Trump administration, possibly setting up a ......(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

from Around The Web https://ift.tt/2ZzpKG6
via IFTTT

Black Knight on "Tappable Equity"

Here are some comments and two graphs from Black Knight on tappable equity. Tappable equity grew by >$335B in Q2 2019 • Tappable equity growth had been slowing in recent quarters due to rising interest rates and slowing home price growth Click on graph for larger image. This graph from Black Knight shows the Black Knight's estimate of "tappable equity". • However, its Q2 growth rate was slightly above Q1's (+4.2% vs. 3%) • A total of $6.3T in tappable equity is now held by 45M U.S. mortgage holders • That's the highest volume ever recorded, and 26% above the mid-2006 peak of $5T This......(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

from Around The Web https://ift.tt/2NyRetn
via IFTTT

Treasury Secretary Mnuchin says ultra-long bonds are being considered by the Trump administration

Treasury Secretary Steven Mnuchin said ultra-long U.S. bonds are being considered by the Trump administration, according to Bloomberg News....(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

from Around The Web https://ift.tt/2MH1GPG
via IFTTT

U.S. Corporate Bonds Are Having the Best August in Four Decades - Bloomberg

U.S. Corporate Bonds Are Having the Best August in Four Decades    Bloomberg Investors in debt from blue-chip U.S. companies are on track the best August in 37 years as corporate bonds benefit from the rally in Treasuries....(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

from Around The Web https://ift.tt/2NEitmq
via IFTTT

U.S. 30-year bond yields hit record low, curve inversion grows

U.S. Treasury debt yields fell on Wednesday, with 30-year yields setting all-time lows, as fears about a recession and trade tensions between China and the United States stoked unrelenting demand for low-risk government debt....(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

from Around The Web https://ift.tt/2MHmN4x
via IFTTT

Why record low bond yields could keep heading lower as market fears 'disaster scenario'

Bond yields are heading south, and there appears to be no stopping them for now....(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

from Around The Web https://ift.tt/2NBC2vu
via IFTTT

Southern California sees strongest July home sales in four years, thanks to lower mortgage rates

Home sales in Southern California jumped over 6% in July and were 3.7% higher annually, according to CoreLogic. That is the highest July volume since 2015 and the first year-over-year gain for any month since July of last year. It is, however, nearly 11% below the historical July average....(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

from Around The Web https://ift.tt/2ztIsoc
via IFTTT

More U.S. Homebuyers Say They Expect a Recession by Next Year - Bloomberg

More U.S. Homebuyers Say They Expect a Recession by Next Year    Bloomberg Recession fears are on the minds of a growing share of U.S. homebuyers, half of whom say they'll pause their search if a downturn arrives. More than 36% of ......(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

from Around The Web https://ift.tt/2NChyCP
via IFTTT

Zillow Case-Shiller Forecast: Lower YoY Price Gains in July compared to June

The Case-Shiller house price indexes for June 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 Matthew Speakman at Zillow: June Case-Shiller Results and July Forecast: Phoenix Posts Largest YoY Gains Annual home price gains continued their gradual slowdown in June, although the pace of those declines has slowed from earlier this year. While prices are still climbing, the rate of annual appreciation appears to have leveled off near its long-term average, after consistently falling from a high......(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

from Around The Web https://ift.tt/2MIR9U5
via IFTTT

People who brought homes in the past 2 years could see 'significant' savings by refinancing now

Home loan rates are down about 1.25% from their 2018 peak, "which can translate to $2,200 a year in savings on a $250,000 mortgage," says Mortgage Bankers Association CEO Robert Broeksmit....(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

from Around The Web https://ift.tt/2NEHVrM
via IFTTT

Italian Yields Tumble to Record Low as Coalition Deal Seen Near

Italian Yields Tumble to Record Low as Coalition Deal Seen Near    Bloomberg Italian bonds surged to take 10-year yields to a record low, as a coalition deal to form a new government looked increasingly likely....(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

from Around The Web https://ift.tt/2NE3DMs
via IFTTT

Yield inversion 'isn't just a switch' for recession, and may not be a signal at all this time

Other signals about the economic, such as low jobless claims, help paint a contrasting picture, says Bespoke's Paul Hickey....(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

from Around The Web https://ift.tt/32dm52L
via IFTTT

Dudley Sparks Debate About the Role of the Fed in the Age of Trump

Dudley Sparks Debate About the Role of the Fed in the Age of Trump    Bloomberg Skanda Amarnath, Employ America director of research and analysis, and Karl Smith, a Bloomberg Opinion columnist, react to former Federal Reserve Bank of ......(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

from Around The Web https://ift.tt/2L1CGRp
via IFTTT

Fed divided on policy, discount rate votes show

U.S. central bankers may have been more deeply divided than previously understood over the decision last month to cut interest rates for the first time in more than a decade, records from meetings held across the Fed's 12 regional Fed banks suggest....(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

from Around The Web https://ift.tt/2KYpzAm
via IFTTT

Want to Fight Foreclosure? Good Luck After Ditech's Bankruptcy - Bloomberg

Want to Fight Foreclosure? Good Luck After Ditech's Bankruptcy    Bloomberg More than 4000 homeowners have complained to federal agencies in the past year about Ditech Financial LLC, including allegations that the bankrupt ......(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

from Around The Web https://ift.tt/2HwyJlw
via IFTTT

Fed rejects call to deny Trump rate cuts; Trump keeps up pressure

The U.S. central bank on Tuesday rejected a call from a former Federal Reserve policymaker to counter President Donald Trump's trade agenda by refusing to "play along" and denying the president the interest rate cuts he has demanded....(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

from Around The Web https://ift.tt/33WjrQq
via IFTTT

U.S. yield inversion deepens, stokes recession fears

The U.S. yield curve inversion deepened on Tuesday to levels not seen since 2007, rekindling fears of a looming recession that spurred a sell-off on Wall Street and stoked even more safe-haven demand for government bonds....(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

from Around The Web https://ift.tt/2PkzEvA
via IFTTT

Richmond Fed: "Manufacturing Activity Was Moderate in August"

From the Richmond Fed: Manufacturing Activity Was Moderate in August Fifth District manufacturing activity was moderate in August, according to the most recent survey from the Federal Reserve Bank of Richmond. The composite index rose from -12 in July to 1 in August , buoyed by increases in the indexes for shipments and new orders. However, the third component, employment, fell. ... Survey results suggested that many firms saw employment decline while the average workweek increased in August. Respondents reported persistent wage growth but still struggled to find workers with the necessary......(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

from Around The Web https://ift.tt/2L7ceEE
via IFTTT

US consumer confidence dips in August

The Conference Board cautioned that if the recent escalation in the trade tensions between China and United States persists, consumer expectations will likely dampen....(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

from Around The Web https://ift.tt/2ZrujaF
via IFTTT

Italian Coalition Talks Stumble, Raising Risk of Early Elections

Italian Coalition Talks Stumble, Raising Risk of Early Elections    Bloomberg Italy's anti-establishment Five Star Movement ramped up the pressure on the center-left Democratic Party insisting it would end talks unless Giuseppe Conte can ......(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

from Around The Web https://ift.tt/2ZwALIm
via IFTTT

Asia stocks, bond yields rise on hopes of easing trade war tension

Asian stocks rose in step with their global peers on Tuesday while safe-haven bonds retreated, after U.S. President Donald Trump softened his tone against China and predicted the two countries would be able to reach a trade deal....(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

from Around The Web https://ift.tt/2KYF6jK
via IFTTT

British PM Johnson says he's prepared to take Brexit talks down to last minute

Johnson has 68 days to convince the EU to give him a new Brexit deal, with neither side so far willing to compromise on the most contentious issues. If he can't get a deal, he says Britain will leave the bloc anyway....(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

from Around The Web https://ift.tt/2Zrh2h9
via IFTTT

Merrill and Goldman on Housing

A few excerpts from two research pieces on housing. From Merrill Lynch: Housing: something for everyone What comes next? [W]e are making some tweaks to the housing forecast. Housing starts are likely to edge down this year to 1.24mn but recover next year. Existing home sales should also come in lower this year at 5.30 million and hold around this pace in 2020. The story for new home sales is a bit better with 650k this year and 660k next. In other words, further sideways motion for housing activity, leaving it a benign factor for the overall economy. From Goldman Sachs: Can Lower Rates Still......(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

from Around The Web https://ift.tt/2KVyKl4
via IFTTT

Trump says China trade deal coming, Beijing calls for resolution of dispute

U.S. President Donald Trump on Monday predicted a trade deal with China after positive gestures by Beijing, calming global markets that have been roiled by new tariffs from the world's two largest economies....(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

from Around The Web https://ift.tt/2KXVDEo
via IFTTT

Dallas Fed: "Texas Manufacturing Expansion Picks Up Pace"

From the Dallas Fed: Texas Manufacturing Expansion Picks Up Pace Texas factory activity expanded at a faster clip in August, according to business executives responding to the Texas Manufacturing Outlook Survey. The production index, a key measure of state manufacturing conditions, shot up nine points to 17.9, its highest reading in nearly a year. Other measures of manufacturing activity also suggested faster expansion in August. The shipments index rose seven points to 17.6, and the capacity utilization index rose five points to 15.7, both reaching 11-month highs. The new orders index moved......(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

from Around The Web https://ift.tt/2HpfoT4
via IFTTT

Only 20% of Home Buyers Expect House Search to Get Easier Soon

A second quarter 2019 NAHB poll revealed that only 12% of adults are prospective home buyers, i.e. they are planning to buy a home in the next year.  These prospective buyers were asked about their expectations for housing availability going forward.  As the graph below shows, 20% expect the search for a home to become easier in the months ahead,... Read More ›...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

from Around The Web https://ift.tt/2HFATiT
via IFTTT

ECB Stimulus Needs Consensus to Be Credible, Policy Maker Says

ECB Stimulus Needs Consensus to Be Credible, Policy Maker Says    Bloomberg European Central Bank policy makers will need to muster a broad consensus in favor of more monetary stimulus in September to make it credible, Governing ......(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

from Around The Web https://ift.tt/2ZjVbsK
via IFTTT

U.S. business investment appears weak in third quarter

New orders for key U.S.-made capital goods rose modestly in July while shipments fell by the most in nearly three years, pointing to continued weakness in business investment and a slowdown in economic growth early in the third quarter....(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

from Around The Web https://ift.tt/2MCvqgJ
via IFTTT