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‘Dow 36,000’ co-author to be named White House CEA chief, report says

Kevin Hassett, an economist at the American Enterprise Institute, will be named chairman of the White House Council of Economic Advisers, Politico reported. Hassett is most known for co-authoring a book forecasting the Dow reaching 36,000 just months before the dot-com bubble burst. He’s also advised several Republican presidential candidates.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

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Rising Stars entry deadline extended!

A favorite saying of ours is “deadlines spur action,” and in the case of our Rising Stars awards program, it’s proving true. Quite a few of you are waiting until the last minute to get your nominations in. We’ve heard from quite a few folks that are feeling the pressure of that impending deadline, and we feel you. We get it. And we’re not monsters around here. We’re here to help. …read more

From:: Real Estate Wire

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New Home Sales Accelerate, Northeast Leads

The annual pace of new home sales strengthened last month. The Northeast led the rise, though the Midwest was close behind.

During the first month of this year, the sale of 41,000 new privately owned residential housing units was successfully completed.

Activity accelerated from 38,000 in the final month of last year and an upwardly revised 39,000 units sold in January 2016.

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From:: Financing

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Cohn reportedly says the White House doesn’t support House border-adjustment tax

WASHINGTON (MarketWatch) — Gary Cohn, director of the National Economic Council, reportedly told a business group that the White House doesn’t support the House Republican border adjustment tax plan. According to Axios, Cohn made the remarks at a private event in Washington.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

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Impac Originations Tumble, Could Plunge in Q1

Quarterly home lending sank by over a fourth at Impac Mortgage Holdings Inc. and is likely plunging during the current quarter.

Before income taxes, the Irvine, California-based organization earned $17 million during the three months ended Dec. 31, 2016.

Those details, along with other operational and financial results, were presented in Impac’s fourth-quarter 2016 earnings report.

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From:: Financing

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Here’s how first-time homebuyers in U.S. stack up to their Canadian neighbors

First-time homebuyers in Canada and the U.S. both seem to be putting off buying a home amid rising home prices. However, the similarity between the two countries ends once these first-time buyers decide to make their purchase. While homebuyers in the U.S. are increasingly looking to lower down-payment options, down payment amounts in Canada reached an all-time high. …read more

From:: Real Estate Wire

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Redwood Trust CEO: We’re ready for Trump to bring private capital back to mortgages

During an interview with CNBC on Thursday, Steven Mnuchin, the newly minted Secretary of the Department of the Treasury, reiterated the Trump administration’s pledge to pursue reform of Fannie Mae and Freddie Mac. And if that happens, Marty Hughes, the CEO of Redwood Trust, says that the real estate investment trust will be ready and willing to step further into the market. …read more

From:: Real Estate Wire

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Dow’s record streak in jeopardy as U.S. stocks open lower

U.S. stocks on Friday pulled back, putting a record-setting streak for the Dow industrials at risk as investors searched for an impetus to keep pushing shares higher following 10 straight positive sessions. The Dow Jones Industrial Average lost 60 points, or 0.3%, at 20,746, the S&P 500 index fell 9 points, or 0.4%, to 2,355, and the Nasdaq Composite Index shed 31 points, or 0.6%, at 5,802, marking the third straight decline for the tech-heavy gauge. In corporate news, shares of Hewlett Packard Enterprise Co. slumped after reporting lower sales than expected, while Nordstrom Inc. shares jumped after posting better-than-expected results.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News