Foreclosures | Mortgages | Financing
Homeowners are waiting longer to break even after buying a home as home price appreciation slows across the nation. In one city, homeowners are waiting nearly two years longer than in 2015 to break even. However, some cities show waits of just a year and a half to recover from the costs of buying a home. …read more
From:: Real Estate Wire
President Donald Trump said Thursday he’d like to “speed up” talks over renegotiating the North American Free Trade Agreement, which he said has been a “catastrophe” for U.S. workers and jobs. In brief remarks at the White House, Trump suggested doing a “new Nafta” with an extra “f” representing the word “fair.” Trump spoke ahead of meeting Harley Davidson executives.
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From:: Stock Market News
New York’s Independent Drivers Guild, an organization of 50,000 drivers, called on Uber Chief Executive Travis Kalanick to resign from President Donald Trump’s business advisory council Thursday. The group launched a petition calling for Kalanick to step down in response to President Donald Trump’s immigration ban. Kalanick and Uber have faced backlash after the company was seen as undermining a protest related to the ban, and as Kalanick was seen as working with Trump, after he said he would bring concerns on the ban to the President. The group notes that many of their drivers are immigrants and 90% said the ban would affect them, a friend or a family member. The group is circling a petition, which currently has 132 out of 200 signatures. In addition to asking Kalanick to step down from the council, it asks for in-app tipping, which it says would support immigrant drivers, not penalizing drivers protesting the ban and for Uber to make a large donation to support a group fighting the immigration ban.
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From:: Stock Market News
Although there was a month-over-month decline in federally insured reverse mortgage production, activity accelerated on a year-over-year basis.
During the first month of the new year, endorsements of home-equity conversion mortgages by the Federal Housing Administration came to 4,578 units.
Volume slipped from the final month of last year, when 4,658 HECMs were endorsed. But business was improved over 3,890 in January 2016.
From:: Financing
Natural-gas futures showed little reaction Thursday to data from the U.S. Energy Information Administration showing that supplies of natural gas fell by 87 billion cubic feet for the week ended Jan. 27. That was generally in line with the decline of 83 billion expected by analyst polled by S&P Global Platts. Total stocks now stand at 2.711 trillion cubic feet, down 266 billion cubic feet from a year ago, but 59 billion cubic feet above the five-year average, the government said. March natural gas fell 3.7 cents, or 1.2%, from Wednesday’s settlement to $3.131 per million British thermal units. It traded at $3.129 before the data.
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From:: Stock Market News
The dips and swells of mortgage rates halted this week after the fourth quarter GDP showed a slow-down, and the Fed opted out of raising rates during the first meeting of the year. The 10-year Treasury, on the other hand, saw a decrease. …read more
From:: Real Estate Wire
U.S. stocks opened lower on Thursday as uncertainty related to the new political environment continued to grow. President Donald Trump had raucous exchanges with Australia and Mexico, both of which are important allies and trading partners, and he also put Iran “on notice” over potential new sanctions after the country performed a ballistic missile test. The developments underlined the confusion that remains over the Trump administration’s policy priorities and aims. In economic news, jobless claims fell by 14,000 in the latest week. The Dow Jones Industrial Average fell 34 points, or 0.2%, to 19,858. The S&P 500 lost 4 points to 2,276, a drop of 0.2%. The Nasdaq Composite Index slid 16 points, or 0.3%, to 5,626. Among the most actively traded Nasdaq stocks was Facebook Inc , which fell 0.7% a day after it reported its quarterly results.
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From:: Stock Market News
Shares of Delta Air Lines Inc. slumped 1.8% in premarket trade Thursday, after the air carrier’s January performance data showed that supply growth outpaced demand. Total system traffic rose 0.4% to 15.34 billion revenue passenger miles, while capacity increased 0.6% to 19.26 billion available seat miles. That pushed load factor down to 81.2% from 81.3%., with domestic load factor declining 30 basis points to 80.8% and international load factor rising 10 basis points to 81.8%. Delta’s stock had rallied 8.4% over the past 12 months through Wednesday, while the NYSE Arca Airline Index soared 43% and the S&P 500 gained 20%.
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From:: Stock Market News
New York Times Co. shares rose nearly 2% after the news company reported slightly lower fourth-quarter earnings but had its best quarter for digital subscription adds since 2011, the year the pay model launched. The company added 276,000 new digital subscribers. Net income for the quarter was $37.1 million, or 23 cents per share, compared with $51.7 million, or 31 cents during the same quarter a year ago. Adjusted earnings per share were 30 cents, above FactSet’s consensus of 24 cents. Revenue hit $439.7 million in the quarter, down compared with the $444.7 million in revenue from a year ago, but just above FactSet’s $438.0 million consensus. Revenue from the company’s digital advertising increased 10.9% to $77.6 million, compared with $69.9 million last year, as print advertising revenue fell 20.4%. “With the rate of growth accelerating over the past year, we believe that there is further opportunity to significantly extend our subscription reach, both in the U.S. and around the world,” said New York Times Chief Executive Mark Thompson in a statement. Shares of the New York Times have increased 7% in the trailing 12-month period, while the S&P 500 Index has gained 20%.
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From:: Stock Market News
Merck & Co. Inc. shares surged as much as 1.4% in pre-market trade after company earnings numbers appeared to show its blockbuster Keytruda cancer drug beat expectations. But on the company’s earnings call, management said fourth-quarter sales for the drug included a one-time adjustment of $40 million in revenue “that had previously been deferred,” according to the FactSet transcript. As such, Keytruda fourth-quarter revenue was $443 million, compared with the FactSet consensus of $470 million. The Keytruda revenue number — at $483, a 125% increase from the year-earlier period — had previously appeared to be “the most important positive,” said Evercore ISI’s Mark Schoenebaum. “In fact, Keytruda missed the US consensus estimate.” Merck shares have risen 5.5% over the last three months, compared with a 8.7% rise in the S&P 500 .
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From:: Stock Market News