investmentresearchdynamics.com / By David Kranzler / October 22, 2014
The lack of movement for the purchase index underscores the lack of traffic and lack of demand in the housing sector. – Bloomberg News
Once again the Mortgage Bankers Association purchase applications index fell 5% week to week and 9% year over year (LINK). Mortgage rates [...]
theburningplatform.com / Via Anthony Sanders / 21st October 2014
In classic MSM fashion, the headlines about existing home sales crow that they are the highest in a year. The truth is they are 1.7% LOWER than last September. But at least inventory for sale is 6% HIGHER than last September. Lower sales and [...]
theburningplatform.com / By Anthony Sanders / 21st October 2014
In classic MSM fashion, the headlines about existing home sales crow that they are the highest in a year. The truth is they are 1.7% LOWER than last September. But at least inventory for sale is 6% HIGHER than last September. Lower sales and higher inventory [...]
trueeconomics.blogspot.com / by RICHARD FLORIDA via citylab.com / October 19, 2014
You know the mythology: despite 55% upper marginal tax rate in exchange for nearly zilch in public services, despite the need to pay consultants’ fees and private insurance just to get basic medical care, and despite the fact that childcare runs a cost of [...]
mybudget360.com / OCT 17, 2014
People tend to think that buying a home means only paying principal and interest. Most conveniently forget the other myriad of expenses associated with being a homeowner. As Americans find less disposable income in their bank account each month, less Americans are becoming homeowners. The middle class is moving away [...]
zerohedge.com / by Tyler Durden / 10/14/2014 09:17 -0400
So much for the much hyped, if quite negligible, second quarter rebound in mortgage activity. After rates tumbled, and continued to tumble, there was some hope that at least the offset to the bond market screaming contraction and deflation (something even stocks have realized in recent [...]
armstrongeconomics.com / by Martin Armstrong / October 5, 2014
Former Federal Reserve Chairman Ben Bernanke has been turned down for refinancing his home mortgage. Bernanke said: ”Between ourselves, I have recently tried unsuccessfully to refinance my mortgage loan” he told Bloomberg at a conference in Chicago.
Reason, the lending standards in the USA were [...]
zerohedge.com / Via Morgan Stanley / 10/03/2014 15:32
Amid rising tuition costs, an increasing share of students rely on debt to fund their education.Student loan delinquent balances have been on the rise since the early 2000s and those with student loans are likely to be less credit worthy than those without (Exhibit 50 & Exhibit [...]
globaleconomicanalysis.blogspot.com / Mike “Mish” Shedlock / Thursday, October 02, 2014 11:49 PM
In the curious news of the day, former Fed Chair Ben Bernanke was turned down in his effort to refinance his mortgage.
Bloomberg reports You Know It’s a Tough Market When Ben Bernanke Can’t Refinance.
Ben S. Bernanke said the mortgage [...]
bloomberg.com / By Elizabeth Campbell Oct 2, 2014 4:19 PM ET
Ben S. Bernanke said the mortgage market is still so tight that he’s having a hard time refinancing his own home loan.
The former Federal Reserve chairman, speaking at a conference in Chicago, told moderator Mark Zandi of Moody’s Analytics Inc. — “just between [...]
davidstockmanscontracorner.com / by Mark Hanson / October 2, 2014
1) “Peak Housing”: The “Return to Normal”
The take-away from last month’s housing data was that “the market was returning to normal”, which despite the persevering weakness, was viewed as a “great thing”. This overly-simplistic and flawed assumption was made, as the all-cash cohort demand [...]
doctorhousingbubble.com / Dr. Housing Bubble / October 1st, 2014
In ancient home buying times, the vast majority of home purchases came from regular families looking to buy a home. When I say buying, I mean committing to a 30 year mortgage financed by a bank. This was the traditional mechanism of keeping the real estate [...]
zerohedge.com / by Tyler Durden / 10/01/2014 09:06 -0400
It is not a good morning for Bill Ackman’s Pershing Square or Bruce Berkowitz’s Fairholme Capital, or the US government for that matter, of course, which happen to be the three largest investors in Fannie Mae:
The reason: FNM stock, which at last check, was [...]
globaleconomicanalysis.blogspot.com / by Mike “Mish” Shedlock / September 25, 2014
A chart in the latest Black Knight Mortgage Monitor Release caught my eye.For five months, the number of properties and the percentage of properties 30-days delinquent has been on the rise (arrows added).
investmentresearchdynamics.com / David Kranzler / September 23, 2014
Just for the record, I would not be surprised is tomorrow’s new home sales report is stronger than expected. The numbers are coming from the Government’s Census Bureau and the new home sales series has been irregularly volatile and unreliable. But based on every [...]
doctorhousingbubble.com / Dr. Housing Bubble / September 22nd, 2014
The summer selling season has now come to an official close. Not that it had much substance behind it. The sales volume has been wickedly low for all the hoopla being bandied about how great the housing market is doing. Much of the momentum [...]
europac.net / By Peter Schiff / September 10, 2014
Friday’s release of disappointing August payroll numbers should have been a jarring wake-up call warning Wall Street that the economy has been treading on thin ice. Instead the alarm clock was stuffed under the pillow and Wall Street kept sleeping. The miss was so epic [...]
investmentresearchdynamics.com / By David Kranzler / September 10, 2014
The Mortgage Bankers Association mortgage purchase applications index dropped again last week. It fell 3% week to week (seasonally adjusted), it fell 14% unadjusted and it plunged 12% year over year. This has been the pattern almost every week this year.
zerohedge.com / by Tyler Durden / 09/10/2014 11:17
Day after day we are told, just wait for rates to rise (“which they ‘have’ to because economic growth is so strong”) and stocks will take off into the next leg of exuberance… why else would the Fed end QE and start more hawkish discussions? [...]
thedailysheeple.com / Cassandra Rules, The Free Thought Project / September 3rd, 2014
The Philadelphia police are putting home owners on the street and it has nothing to do with their ability to pay the mortgage, nor are they being charged with a crime.
Christos Sourovelis works hard and owns a painting business. [...]