MBSauthority News - MBS, Economy, and Housing
Treasury yields fall slightly after data shows rising personal income, prices
The 10-year Treasury yield fell slightly on Friday after rising in the previous session.
Soaring lumber prices add $36,000 to the cost of a new home, and a fierce land grab is only making it worse
As the housing market gets leaner, potential buyers are turning in greater numbers than ever to new construction, but builder costs are soaring.
To get a low mortgage rate, your credit score matters. Here's how to boost it
Your credit score has a direct impact on your ability to get a mortgage and what interest rate you will pay.
Statement Regarding Reverse Repurchase Transaction Counterparties
The New York Fed has made adjustments to the reverse repurchase (RRP) counterparty eligibility criteria.
Personal Income and Outlays, March 2021
Personal income increased $4.21 trillion, or 21.1 percent at a monthly rate, while consumer spending increased $616.0 billion, or 4.2 percent, in March. Economic impact payments established by the American Rescue Plan Act of 2021, which was enacted on March 11, 2021, were distributed. Full Text
Singapore's largest bank DBS sees profit soar 72% to a record $1.5 billion
DBS Group Holdings said net profit reached a historic high of 2.01 billion Singapore dollars ($1.52 billion) in the first quarter of 2021.
Biden wants to raise $1.5 trillion by taxing the rich. Here's how
President Joe Biden's American Families Plan would raise taxes on the top 1%. It would increase the levy on their capital gains and ordinary income.
Biden’s plan for inherited real estate may impact more people than just the wealthy
President Joe Biden is asking Congress for higher taxes on inherited property. The proposal may impact family homes with more than $1 million in gains.
How Biden's capital gains proposal may hit middle-class home sellers in red-hot markets
President Biden is proposing a capital gains tax increase for households making over $1 million. The change may also impact home sellers.
Treasury yields rise after big jump in first-quarter GDP
Treasury yields rose on Thursday morning, ahead of the release of first quarter GDP data and the number of new jobless claims filed last week.
2 million homeowners may be eligible for this new mortgage refinancing program
Eligible borrowers will be able to refinance their mortgage with a lower interest rate and monthly payment, according to the Federal Housing Finance Agency.
Pending home sales rose less than expected in March as prices soared
Pending home sales rose less than expected in March, as buyers contend with record low supply and higher prices.
Gross Domestic Product, 1st Quarter 2021 (Advance Estimate)
Real gross domestic product (GDP) increased at an annual rate of 6.4 percent in the first quarter of 2021, reflecting the continued economic recovery, reopening of establishments, and continued government response related to the COVID-19 pandemic. In the first quarter, government assistance payments, such as direct economic impact payments, expanded unemployment benefits, and Paycheck Protection Program loans, were distributed to households and businesses through the Coronavirus Response and Relief Supplemental Appropriations Act and the American Rescue Plan Act. In the fourth quarter of 2020, real GDP increased 4.3 percent. Full Text
Powell says he plans to meet with homeless Americans in Washington, DC
Powell, one of the world's most influential economists, has not yet met with members of the homeless encampment near the Fed in Washington.
Fed holds interest rates near zero, sees faster growth and higher inflation
As expected, the U.S. central bank decided to keep short-term interest rates anchored near zero as it buys at least $120 billion of bonds each month.
Treasury yields are little changed Fed, Powell pledge to hold course on rates and asset purchases
The 10-year Treasury yield was slightly lower for the day following the Federal Reserve's latest policy decision.
'Sell in May and go away' is in play this year amid inflation risks, market analyst says
Investors may want to sit out what could be a volatile summer for the stock market, Morgan Creek's Mark Yusko says.