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Mortgage News Daily:
Rates on Construction Loans Continue to Drift Downward
2/20/2020 2:00 PM
In the fourth-quarter of 2019, builders and developers reported declining interest rates on all types of loans covered in NAHB"s quarterly survey on acquisition, development and construction (AD&C) financing (Exhibit 8). The average interest rate declined from 6.39 to 6.13 percent on loans for land acquisition, from 6.31 to 5.94 percent on...
Phoenix Real Estate in January: Sales up 18.1% YoY, Active Inventory Down 38.9% YoY
2/20/2020 12:27 PM
This is a key housing market to follow since Phoenix saw a large bubble / bust followed by strong investor buying. The Arizona Regional Multiple Listing Service (ARMLS) reports ("Stats Report"): 1) Overall sales were at 6,328 in January, down from 7,585 in December, but up from 5,357 in January 2019. Sales were down 16.6% from December 2019 (last m...
Wall Street tumbles as coronavirus fears mount
2/20/2020 12:27 PM
U.S. stock indexes fell about 1% on Thursday, dragged down by technology heavyweights, as investors fretted over a rise in the cases of coronavirus and its economic impact....(read more)
Americans are fleeing the most expensive US citiesand moving to these 10 more affordable places
2/20/2020 10:49 AM
Many Americans are looking to leave expensive coastal cities, according to Redfin.com"s housing migration report for Q4 of 2019, which analyzed data from more than 1 million Redfin users. Here are 10 metro areas they"re flocking to instead....(read more)
Philly Fed Manufacturing Suggests Activity Increased in February
2/20/2020 8:49 AM
From the Philly Fed: Current Manufacturing Indicators Suggest a Pickup in Growth in February Manufacturing firms reported an improvement in regional manufacturing activity, according to results from the February Manufacturing Business Outlook Survey. The survey"s current indicators for general activity, new orders, and shipments increased this mont...
Fed Vice Chair Clarida throws cold water on traders pricing in a rate cut
2/20/2020 8:35 AM
Fed Vice Chair Clarida throws cold water on traders pricing in a rate cut<br/>https://www.cnbc.com/2020/02/20/clarida-on-squawk-.html...(read more)
Weekly Initial Unemployment Claims Increase to 210,000
2/20/2020 7:34 AM
The DOL reported : In the week ending February 15, the advance figure for seasonally adjusted initial claims was 210,000 , an increase of 4,000 from the previous week"s revised level. The previous week"s level was revised up by 1,000 from 205,000 to 206,000. The 4-week moving average was 209,000, a decrease of 3,250 from the previous week"s revised...
Co-Buying: How Cash-Strapped Millennials Are Becoming Homeowners Without Family Help
2/20/2020 7:02 AM
As home prices, living costs, and student debt loads are rising, some buyers are turning to co-buying to get around the housing affordability crisis. The post Co-Buying: How Cash-Strapped Millennials Are Becoming Homeowners Without Family Help appeared first on Real Estate News & Insights | realtor.com® ....(
Fed calls the coronavirus a "new risk to global growth outlook"
2/19/2020 2:33 PM
Though the coronavirus had just taken hold when the Fed met in January, officials already expressed concern about its economic impacts....(read more)
Goldman says market underestimating coronavirus risk: "Correction is looking much more probable"
2/19/2020 2:27 PM
Goldman Sachs sounded the alarm about a possible correction in the stock market, noting investors are underestimating the coronavirus risk....(read more)
AIA: "Architecture billings continue growth into 2020"
2/19/2020 12:55 PM
Note: This index is a leading indicator primarily for new Commercial Real Estate (CRE) investment. From the AIA: Architecture billings continue growth into 2020 Starting the year on a strong note, architecture firm billings strengthened slightly in January, according to a new report today from The American Institute of Architects (AIA). AIA"s Archi...
Ready-Mix Concrete, Gypsum Products Lead Building Materials Prices Higher in January
2/19/2020 11:20 AM
Prices paid for goods used in residential construction increased 0.5% in January (not seasonally adjusted) according to the latest Producer Price Index (PPI) released by the Bureau of Labor Statistics. Building materials prices have increased 2.0% over the last 12 months and by 3.3% since January 2018. The average monthly increase since the start ...
U.S. housing starts fall; building permits near 13-year high
2/19/2020 8:22 AM
U.S. homebuilding fell less than expected in January while permits surged to a near 13-year high, pointing to sustained housing market strength amid lower mortgage rates....(read more)
US producer prices post biggest gain in more than a year
2/19/2020 7:52 AM
U.S. producer prices increased by the most in more than a year in January, boosted by rises in the costs of services such as healthcare and hotel accommodation....(read more)
LendingClub buys Radius Bank for $185 million in first fintech takeover of a regulated US bank
2/18/2020 3:11 PM
The move marks the first time a U.S. fintech company has acquired a bank....(read more)Forward this article via email:Read More