Monday Morning Cup of Coffee: Time to cut the MLS cord?

Monday Morning Cup of Coffee: Time to cut the MLS cord?

Plus housing metrics, the incredible shrinking GDP, and kicks are for TRIDs

Jeb Bush: Current housing and debt situation unsustainable

Is the clock ticking on the 30-year mortgage?

Senate banking committee passes massive regulatory relief bill

Big implications in legislation for housing and mortgage finance
W S

Items Tagged with 'Economy'

ARTICLES

Bank of America 1Q net income rises amid stronger mortgage levels

Beats EPS forecasts
Brena Swanson
Bank of America reported first-quarter net income of $3.4 billion after a net loss of $276 million last year. The surge in growth can be attributed to stronger mortgage origination levels.
Read More

MIT grad’s new housing theory upsets Piketty’s work

And economists think his points are valid
Brena Swanson
A recent MIT graduate’s new paper puts up one of the greatest critiques to Thomas Piketty’s book “Capital in the Twenty-First Century,” which is renowned as one of the most influential books in history. And one the paper’s main points that is gaining ground: Housing’s role in growing returns on capital.
Read More

Housing starts see biggest collapse since January 2007

Devastating 17% monthly drop hits industry
Trey Garrison
Privately owned housing starts in February plummeted 17%, down to an annualized 897,000 from the revised January estimate of 1,081,000, with drops in the Northeast, Midwest and West leading the collapse. Are you worried yet?
Read More

Pending home sales surge to highest level in 18 months

Buyer demand boosts sales
Brena Swanson
Pending home sales recovered after last month's unexpected steep decline. In January, pending home sales surged to the highest level since August 2013, thanks to improved buyer demand at the beginning of 2015.
Read More

Jobless claims rise above 300K on energy layoffs

Initial claims trending higher
Trey Garrison
Energy price cuts are leading to more layoffs in shale heavy states like Texas and Pennsylvania, pushing initial jobless claims back above the psychological watermark of 300,000 to 304,000, missing expectations by the most in a month.
Read More

This housing market will never be saved

Six years later, still struggling
Brena Swanson
According to one bold housing columnist, housing will never spring back to its pre-recession levels. Despite all the government’s best attempts to spur activity again, these headwinds will remain.
Read More

Initial jobless claims above 300K for third week

January employment looking grim
Trey Garrison
Initial jobless claims missed expectations yet again, staying well above the 300,000 mark for the third week running. This could bode ill for the rest of the year. Here’s the story.
Read More

Fannie Mae: Economy pulls housing out of doldrums

Improving fundamentals support gradual housing momentum
Trey Garrison
Economic growth is expected to accelerate modestly this year and drag last year’s unspectacular housing activity upward, according to Fannie Mae. Here's why.
Read More

Citigroup 4Q net income tumbles to $350M

Income dented by legal fees
Brena Swanson
Citigroup's fourth-quarter earnings were significantly impacted by higher operating expenses. But despite the tough year, Michael Corbat, CEO of Citigroup, said the difficult year helped to pave the way for a strong 2015.
Read More

Employers added 252K jobs in December, beating expectations

Wage decline biggest in 8 years; workforce participation at Dec. 1977 level
Trey Garrison
The economy added 252,000 jobs in December, but wages nose-dived the most since 2006, meaning the job recovery is focused in the low-paying service industry. Here’s how it breaks down.
Read More