Posted on

U.S. runs deficit of $90 billion in June

The U.S. ran a budget deficit of $90 billion in June, the Treasury Department said Thursday. Outlays for Military active duty and retirement, Veterans’ benefits, Supplemental Security income, and Medicare payments accelerated into June, because July 1, 2017, the normal payment date, fell on a non-business day. For the fiscal year to date, the deficit is $523 billion, 31% wider, as outlays growth of 6% has outstripped revenue growth of 2%.

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.

…read more

From:: Stock Market News

Posted on

Neighborhood social network Nextdoor launches real estate listing service

Anyone who’s been on Nextdoor, the neighborhood social network, is probably used to seeing the occasional real estate listing pop up in their feed between complaints about “some idiot” who’s always driving too fast and offers for “gently used” furniture. But Nextdoor appears to be rolling out a new feature that will make those real estate listings appear far more often. In fact, Nextdoor’s move could position the social network as a new competitor for Zillow, Trulia, realtor.com, Redfin, and other online real estate listing sites. …read more

From:: Real Estate Wire

Posted on

Home Lending, Servicing Rises at Lake Mich CU

A healthy increase in mortgage originations was reported by Lake Michigan Credit Union. Also expanding was the organization’s servicing portfolio.

As of mid-2017, the financial institution serviced 58,949 single-family loans that had an unpaid aggregate principal balance of $9.263 billion.

The Grand Rapids, Michigan-based firm revealed those metrics and more as part of the Mortgage Daily Second Quarter 2017 Mortgage Origination Survey.

…read more

From:: Financing

Posted on

Dallas Fed’s Kaplan becomes third FOMC member to question need for more rate hikes

Dallas Fed President Rob Kaplan on Thursday, in an essay, said he wants to see more evidence of a recovery in inflation before committing to another rate hike. Kaplan, a Federal Open Market Committee member this year, said “at present, with a federal funds rate at a range of 100 to 125 basis points, I would like to see some greater evidence that we are making progress toward meeting our 2% inflation objective in the medium term.” He joins Fed. Gov. Lael Brainard in expressing reservation toward more rate hikes. (Minneapolis Fed President Neel Kashkari opposed the June increase.) However, Kaplan does say the plan to reduce the balance sheet “will likely be appropriate” later this year.

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.

…read more

From:: Stock Market News

Posted on

Wal-Mart introducing ‘helpers’ for back-to-school season

Wal-Mart Stores Inc. said Thursday that it will introduce “back-to-school helpers” to aid customers as they shop for back-to-school and back-to-college items. The retail giant has also added more than 400 items to its list of Online Grocery Pickup and Pickup Today services. And Wal-Mart is launching an online classroom supplies webpage that will allow customers to purchase items on teachers’ lists. The National Retail Federation expects 2017 back-to-school and back-to-college shopping to reach $83.6 billion. Wal-Mart shares are up 1.4% in Thursday trading, and up 8.5% for the year so far. The S&P 500 index is up 9.4% for 2017 so far.

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.

…read more

From:: Stock Market News

Posted on

HELOC Sale Done

The sale of a portfolio of home-equity lines of credit that are both performing and non-performing has been successfully executed.

A large bank has completed the sale of approximately $52 million in performing and non-performing HELOCs.

The buyer in the transaction, which involved HELOCs that are seasoned and in first-lien position, was a large fund.

…read more

From:: Financing

Posted on

Back-to-school and back-to-college spending expected to reach $83.6 billion: NRF

Back-to-school and back-to-college spending is expected to reach $83.6 billion in 2017, the National Retail Federation said on Thursday, a more than 10% increase from $75.8 billion last year. The NRF expects back-to-school spending for families with children in elementary and high school to reach $29.5 billion, up 8% from $27.3 billion last year. Deloitte said Wednesday that it expects back-to-school spending to reach $27 billion. The NRF expects college spending to reach $54.1 billion, beating the 2012 record of $53.5 billion. Electronics sales is forecast to reach $12.8 billion, followed by clothing ($8.0 billion) and food items ($7.5 billion). The SPDR S&P Retail ETF is down 10% for the year so far while the S&P 500 index is up 9.4% for the period.

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.

…read more

From:: Stock Market News

Posted on

Venus books ticket to first Wimbledon finals since 2009

Venus Williams defeated Britain’s Johanna Konta in straight sets on Thursday to advance to her first Wimbledon final since 2009. The 37-year old tennis player won her semifinal match 6-4, 6-2. She’s slated to face Spanish star Garbine Muguruza in the women’s championship match to be played on Saturday at 9 a.m. Eastern Time. Williams boasts seven grand slam titles, including five Wimbledon titles and two U.S. Open championships.

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.

…read more

From:: Stock Market News