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Tuesday: Fed Chair Powell Panel Discussion, Job Openings, Small Business Confidence

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Tuesday: Fed Chair Powell Panel Discussion, Job Openings, Small Business Confidence

From Matthew Graham at Mortgage News Daily: Mortgage Rates Still Waiting to Make a Move Mortgage rates have been exceptionally sideways for nearly 2 weeks now–this after hitting the highest levels in more than 4 years on April 25th. emphasis added Tuesday:• At 3:15 AM ET, Panel Discussion, Fed Chair Jerome...
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Goldman: April Payrolls Preview

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Goldman: April Payrolls Preview

A few brief excerpts from a note by Goldman Sachs economists Daan Struyven and Spencer Hill: We expect a 180k increase in nonfarm payroll employment in April, slightly below consensus expectations for a 190k gain. Most labor market indicators decelerated somewhat, and we don’t expect a meaningful weather rebound (relative to trend). … the...
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Q1 2018 GDP Details on Residential and Commercial Real Estate

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Q1 2018 GDP Details on Residential and Commercial Real Estate

The BEA has released the underlying details for the Q1 advance GDP report. The BEA reported that investment in non-residential structures increased at a 12.3% annual pace in Q1.  Investment in petroleum and natural gas exploration increased substantially recently, from a billion annual rate in Q4 2016 to a 8 billion annual rate in Q1...
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April 2018: Unofficial Problem Bank list declines to 94 Institutions

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April 2018: Unofficial Problem Bank list declines to 94 Institutions

Note: Surferdude808 compiles an unofficial list of Problem Banks compiled only from public sources. Here is the unofficial problem bank list for April 2018. Here are the monthly changes and a few comments from surferdude808: Update on the Unofficial Problem Bank List for April 2018. The list had a decline of four insured institutions...
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Q1 GDP: Investment

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Q1 GDP: Investment

IMPORTANT NOTE: In the GDP report, real residential investment was unchanged in Q1. But residential investment (RI) as a percent GDP actually increased in Q1! How can that be? The answer is that the price index for residential investment increased sharply in Q1 (up 8.5% annualized). The large increase in the residential investment price...
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MBA: Mortgage Applications Decrease Slightly in Latest Weekly Survey

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MBA: Mortgage Applications Decrease Slightly in Latest Weekly Survey

From the MBA: Mortgage Applications Slightly Decrease in Latest MBA Weekly Surve Mortgage applications decreased 0.2 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending April 20, 2018. … The Refinance Index decreased 0.3 percent from the previous week. The seasonally...
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Monday: Existing Home Sales

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Monday: Existing Home Sales

Weekend:• Schedule for Week of Apr 22, 2018 Monday:• At 8:30 AM ET, Chicago Fed National Activity Index for March. This is a composite index of other data. • At 10:00 AM, Existing Home Sales for March from the National Association of Realtors (NAR). The consensus is for 5.28 million SAAR, down from 5.54...
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Oil Rigs “Middling rig adds”

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Oil Rigs “Middling rig adds”

A few comments from Steven Kopits of Princeton Energy Advisors LLC on Apr 20, 2018: • Total US oil rigs were up, +5 to 820 • Horizontal oil rigs were up,+6 at 723…• Almost all the action was back in the Permian, +9 horizontal oil rigs • The breakeven oil price to add rigs...
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Thursday: Unemployment Claims, Philly Fed Mfg Survey

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Thursday: Unemployment Claims, Philly Fed Mfg Survey

From Matthew Graham at Mortgage News Daily: Mortgage Rates Inch Higher as Bonds Suggest More Trouble Ahead Mortgage rates moved higher today as bond markets continued a mildly weaker trend for the month of April. Bonds (which underlie rates) are under pressure for a variety of reasons. The most notable headwinds are longer-term and...
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Tuesday: Housing Starts, Industrial Production

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Tuesday: Housing Starts, Industrial Production

From Matthew Graham at Mortgage News Daily: Mortgage Rates Back to Unchanged After Starting Higher Mortgage rates began the day at higher levels, as bond markets lost ground overnight. Bonds dictate rates, and “losing ground” means bond prices are falling. When bond prices fall, rates move higher.…As bonds improved, most lenders ended up releasing...
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