The Lede
Top National News
Higher Interest Rates Push Mortgage Applications Down 0.8%
CNBC, Nov. 4, 2015--Olick, Diana
Mortgage interest rates rose to the highest level in a month, pouring cold water on applications. Total volume fell 0.8 percent last week from the previous week on a seasonally adjusted basis, according to the Mortgage Bankers Association.
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Equifax: Why Mortgage Originations are Up, but Loan Portfolios are Flat
Atlanta Business Chronicle, Nov. 4, 2015
Data from the latest Equifax National Consumer Credit Trends Report show total mortgage originations rose to $1.2 trillion through the first nine months of 2015--up 63 percent over the same period a year ago. But at the same time, total mortgage and home equity balances were $8.84 trillion at the end of September--virtually flat with figures from the past 18 months.
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Fed’s Yellen: December Is ‘Live Possibility’ for First Rate Increase
Wall Street Journal, Nov. 4, 2015--Leubsdorf, Ben
Federal Reserve Chair Janet Yellen said the U.S. central bank may raise short-term interest rates at its mid-December meeting, but emphasized no decision has yet been made.
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CoreLogic: Distressed Home Sales at Lowest Level in 8 Years
HousingWire, Nov. 4, 2015--Swanson, Brena
Distressed sales and short sales accounted for 9.3% of total home sales nationally in August, down 2.3 percentage points from a year ago and down 0.4 percentage points from July, said CoreLogic.
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This Is the Worst U.S. Earnings Season Since 2009
Bloomberg, Nov. 4, 2015--Robinson, Blaise
So far, about three-quarters of the S&P 500 have reported results, with profits down 3.1 percent on a share-weighted basis, data compiled by Bloomberg shows. This would be the biggest quarterly drop in earnings since third quarter 2009.
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U.S. Service Sector Growth Accelerates in October: ISM
Reuters, Nov. 4, 2015--Campos, Rodrigo
The Institute for Supply Management said its non-manufacturing index rose to 59.1 last month from 56.9 in September.
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U.S. Trade Deficit Narrowed to $40.8 Billion in September
Associated Press, Nov. 4, 2015--Crutsinger, Martin
The U.S. trade deficit declined in September to the lowest level in seven months as exports rebounded while imports shrank, reflecting the smallest monthly foreign oil bill in more than a decade.
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ADP Report Latest Sign of Cooling Job Market
U.S. News & World Report, Nov. 4, 2015--Soergel, Andrew
The ADP National Employment Report released Wednesday showed the private sector of the labor market expanded by 182,000 jobs last month, down from September's revised 190,000 additions. Small businesses with less than 50 employees led job gains, adding 90,000 positions and accounting for nearly half of October's growth total. Such firms nearly doubled the 47,000 additions they posted in September.
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Impac Mortgage’s Originations Skyrocket 150%
HousingWire, Nov. 4, 2015--Swanson, Brena
Impac Mortgage Holdings's total originations soared 150% from a year ago, according to the lender's third-quarter earnings.
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South Florida Mortgage Market Loosens for Everyone but Black Borrowers
Palm Beach Post (Fla.), Nov. 5, 2015--Ostrowski, Jeff
As lenders loosen the purse strings, it's easier to get a mortgage in South Florida for all racial groups except African-Americans. That's according to research released Thursday by Zillow.
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Reminder for State-Licensed Mortgage Loan Originators to Complete Annual CE
The Mortgage Bankers Association reminds state-licensed mortgage loan originators that they must complete eight hours of continuing education annually.
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