Foreclosures | Mortgages | Financing
Residential loan production fell on a quarter-over-quarter basis and sank on a year-over-year basis at Citigroup Inc.The firm continued to cut its mortgage servicing and assets.
From April 1, 2017, through the middle of this year, income from continuing operations before income taxes at the bank-holding level amounted to $5.7 billion.
Those details and more were disclosed by the New York-based financial institution in its earnings report for the second-quarter 2017.
From:: Financing
One measure of fear on Wall Street posted its third lowest finish ever, according to FactSet data. The CBOE Volatility Index closed down 3.9% at 9.51, which marks the lowest level for the so-called fear gauge since 1993. The indicator, also known as VIX, has only closed lower on two other occasions both in December 1993 at 9.48 and 9.31. The VIX is based on options contracts on the S&P 500 index 30 days in the future. The metric’s historical average is 20 and it has continued to mostly slump as stocks have reached repeated records since President Donald Trump’s Election Day victory in November, which suggests to market participants that investors are becoming too complacent. Friday’s VIX slide came as many major equity benchmarks logged fresh records, including the Dow Jones Industrial Average , the S&P 500, Dow Jones Transportation Average , the small-cap focused Russell 1000 Index and the Russell 2000 Index . The Nasdaq Composite Index , meanwhile, posted its second-highest finish ever, just about 0.1% shy of its all-time closing high.
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
Peregrine Pharmaceuticals Inc. shares fell in the extended session Friday after the biotech drug company’s quarterly results fell short of Wall Street estimates. Peregrine shares fell 13% to $4.85 after hours. The company reported a fiscal fourth-quarter loss of 16 cents a share on revenue of $17.9 million. Analysts surveyed by FactSet had forecast a loss of 4 cents a share on revenue of $22.6 million.
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
The U.S. Department of Housing and Urban Development announced it is making $2 billion available to local homeless programs. It announced this new development will continue its incentives to adopt best practices for rapid-rehousing and housing first. …read more
From:: Real Estate Wire
U.S. stocks closed higher on Friday, with several indexes posting all-time records, led by large gains in the tech sector. This was despite a mixed batch of second-quarter earnings from three major banks weighing on equities. The Dow Jones Industrial Average was up 0.4%, a record high. The Nasdaq Composite Index was up 0.6%, its second highest reading ever. The S&P 500 was up 0.5%, notching a fresh all-time high since June 19. Technology stocks posted large gains, with Apple up 0.9% and Nvidia Corp up 2.7%. On the other hand, banks were the big losers, with J.P. Morgan slipping 0.8% after reporting a sharp fall in trading revenue. J.P. Morgan Chase & Co. , Citigroup Inc. , and Wells Fargo & Co. all posted results on Friday, with the three nonetheless topping expectations. For the week, the Dow was up 1% while the S&P was up 1.4% and the Nasdaq was up 2.6%. Weak retail sales and inflation numbers also raised the prospect of dovish policy from the Fed, which is bullish for stocks.
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
One measure of fear, or stock-market volatility, on Wall Street is set to finish at its third lowest level all time, according to FactSet data. The CBOE Volatility Index is on pace to close down 3.6%, at 9.54, which would mark the lowest level for the so-called fear gauge since 1993. The gauge has only closed lower on two other occasions both in December 1993 at 9.48 and 9.31. The so-called VIX, which is based on options contracts on the S&P 500 index 30 days in the future. The metric’s historical average is 20 and it has continued to mostly slump as stocks have reached repeated records since President Donald Trump’s Election Day victory in November, which suggests to market participants that investors are becoming too complacent. Friday’s slide for the VIX came as many major equity benchmarks were set to finish at records, including the Dow Jones Industrial Average , the S&P 500, Dow Jones Transportation Average , the small-cap focused Russell 1000 Index and the Russell 2000 Index . The Nasdaq Composite Index was on deck to finish at its second highest level ever, just a 0.1% away from its record.
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
The Consumer Financial Protection Bureau released a proposed rule on Friday to reassess a section included in the Home Mortgage Disclosure Act that pertains to community banks and credit unions. Under the rule, financial institutions are generally required to report home-equity lines of credit if they made 100 such loans in each of the last two years. But now, the CFPB is questioning if it would be better to increase that threshold to 500 loans. Have thoughts on the matter? The CFPB is now accepting comment. …read more
From:: Real Estate Wire
Oil prices climbed Friday to finish near a two-week high, buoyed by reports of a setback for Nigerian crude supplies and a recent forecast for higher oil demand this year. For the week, the price for U.S. benchmark oil rose roughly 5.2%. August West Texas Intermediate crude rose 46 cents, or 1%, to settle at $46.54 a barrel on the New York Mercantile Exchange for the session.
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
Gold prices climbed Friday to mark their highest finish since June 30 as weak U.S. economic data dulled prospects for another interest-rate hike this year. Prices finished the week up roughly 1.5%, after posting five-straight weeks of losses, according to data from FactSet, tracking the most-active contracts. August gold added $10.20, or 0.8%, to settle at $1,227.50 an ounce.
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
A standardized quantitative index that reflects credit conditions in home lending indicates that lenders loosened their purse strings last month.
The index, the Mortgage Credit Availability Index — which was benchmarked at 100 as of March 2012 — came in at 178.5 in June 2017.
That turned out to be a minimal increase of 0.1 percent when compared to the downwardly revised level for the preceding month.
From:: Financing