Foreclosures | Mortgages | Financing
A combination of rising interest rates and the holiday season drove the U.S Mortgage Market Index to the lowest level it’s been in its seven-year history.
The index, an indication of upcoming mortgage originations based on average per-user rate locks by OpenClose clients, was 80 in the week ended Dec. 30.
That was the lowest level on record for the MMI, which is not adjusted for seasonal factors, since it was launched by Mortgage Daily in December 2009.
From:: Financing
Well, we’ve almost made it. 2016 is almost over. This year has been a record-breaking year for HousingWire in just about every metric we have, and that’s all thanks to you, our loyal readers. You push us to do more, to do better, to reach higher, to dig deeper, to keep fighting, and we have no plans of stopping. So here, as we wrap up the year, are HousingWire’s top 10 articles of 2016, as determined by our readers. …read more
From:: Real Estate Wire
By jgaffney@housingwire.com The Wall Street Journal’s Markets section today discussed a shift from investments in stocks over to bonds. The authors say investors are “recalibrating their conviction” in the Trump trade, a term used to describe market volatility in the wake of the presidential election outcome. …read more
From:: Real Estate Wire
The total value of all the housing stock in the United States has never been worth more than it is right now, according to a new report from Zillow. That also means that the U.S. housing market has now regained all of the value that was lost during and after the housing crisis. …read more
From:: Real Estate Wire
Signs that the U.S. agricultural market will bottom in 2017 are bullish for Deere & Co. and suggest the stock has room for further gains in 2017 even after a strong fourth quarter. That’s the conclusion of Baird Equity Research analyst Mircea Dobre in a note Friday. Dobre rates the stock outperform and has a stock price target of $117, or about 13.5% above current trading levels.”Our view is that a bottom in 2017 appears likely as North American large Ag equipment volumes are approaching prior cyclical bottoms, high horsepower equipment sales/planted acres are near 40-year lows, large Ag new equipment inventories have destocked near historical lows and while auction used equipment prices are still pressured, deterioration is nowhere near 2013-15 as selling conditions seem to be improving into 2017,” Dobre wrote. Deere shares were slightly higher Friday, but have gained 35% on the year, while the S&P 500 is up 10%.
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.
From:: Stock Market News
HBO, owned by Time Warner Inc. , said Friday it’s decided to move up the debut of “Bright Lights,” a documentary on the relationship between Carrie Fisher and her mother Debbie Reynolds. Both actresses, iconic figures in Hollywood, died a day apart less than a week after the Christmas holiday. “Bright Lights,” set to air at 8 p.m. Eastern Jan. 7 exclusively on HBO, has received critical acclaim during the Cannes Film Festival, Telluride Festival and New York Film Festival. The premium cable network announced earlier in the week it will air an encore presentation of Fisher’s 2010 special “Wishful Drinking,” an adaptation of her one-woman stage show which she later adapted into a best-selling book. The special will air at 9 p.m. Eastern Jan. 1. The special is also available on HBO’s online platform. In the year to date, Time Warner shares have gained 49%, outperforming the S&P 500 Index , up nearly 10%.
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.
From:: Stock Market News
By jgaffney@housingwire.com According to Jack Guttenberg Professor of Finance Emeritus at the Wharton School of the University of Pennsylvania writing in the Huffington Post, Democrats may find it troubling to get the “foreclosure king” label to stick, primarily due to a level of misreporting in the media. …read more
From:: Real Estate Wire
U.S. stocks opened slightly higher in what is expected to be a subdued finish to a solidly positive year for equities. The S&P 500 rose 0.1% to 2,250.69, leaving it on track for an annual gain of more than 10%. The Dow industrials gained 19 points, or 0.1%, to 19,839, and were on pace for a calendar-year rise of nearly 14%. The Nasdaq Composite advanced 0.1% and is set for an annual rise of nearly 9%.
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.
From:: Stock Market News
Opko Health Inc. said Friday a late-stage trial of a human growth hormone product failed to meet its main goal, but said multiple outliers may have affected the result and pledged to further review the patients. The Phase 3 trial of hGH-CTP, an investigational long-acting human growth hormone product failed to produce a statistical difference from placebo, the company said. The safety profile was consistent with other studies of human growth hormone, however. Opko said it has now started a Phase 3 study of the product in children to measure its efficacy versus daily injections of Genotropin, a prescription therapy for children and adults with growth issues. Shares were halted premarket, but have gained 14% on the year, while the S&P 500 has gained 10%.
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.
From:: Stock Market News
Iconix Brand Group Inc. said Friday it has agreed to sell the rights to the Sharper Image brand and related intellectual property to ThreeSixty Group for $100 million in cash. The company said ThreeSixty Group is the brand’s largest licensee. The deal is expected to close on Dec. 30 and the company will use the proceeds plus additional cash to pay down about $115 million of debt. Iconix expects to post a gain on the sale that is not reflected in its current guidance. Shares were not yet active premarket, but are up 30% on the year, while the S&P 500 has gained 10%.
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.
From:: Stock Market News