‘Gimme Shelter’: How parking lots explain California’s housing crisis
A new California law eliminates minimum parking requirements for housing near mass transit. Why one parking guru says it’ll be a boon for home building.
A new California law eliminates minimum parking requirements for housing near mass transit. Why one parking guru says it’ll be a boon for home building.
Foreign transaction fees might force you to pay extra for every transaction you make while abroad.
Foreign transaction fees might force you to pay extra for every transaction you make while abroad.
Mortgage rates moved down significantly this past week to their lowest level since mid-September, as the markets reacted positively to the latest inflation news, Freddie Mac reported. Its Primary Mortgage Market Survey for the week of Jan. 19 found the average for the 30-year fixed rate mortgage fell to 6.15%, a drop of 18 basis … [Read more…]
There was a fair amount of anticipation over the most recent policy announcement from the Bank of Japan (BOJ) which came out early in the overnight session. Markets expected another hawkish adjustment, but the BOJ held steady. 10yr yields rallied an instant 9 bps. The domestic session added to gains in early trading after the 830am data (Retail Sales declined more than expected and producer prices were revised slightly lower). Momentum and additional data at 9:15 (industrial production) added to the gains, but a bounce is underway as the PM hours approach. The bounce is far more prominent in stocks, and it happens to coincide with newswires regarding a covid diagnosis for Fed Chair Powell. The volume profile in the stock move (not pictured) suggests there was not one big reaction to one big piece of news. In other words, correlation may not imply causality in this case. We could also consider some hawkish comments from Fed speakers and layoff announcements from Microsoft that came out in the same general time frame. Combine that all with an initial rally reaction that ran out of steam in the 930am-10am time frame, and we probably don’t need to read too much into the stock losses. Incidentally, we’d care more if bonds weren’t still holding so much of the AM gains.
The Census Bureau’s housing starts report for December shows that housing completions are still too slow and we are running out of time.
The FHFA’s move to lower the fee for commingled securities should remove much of the friction in the UMBS market, the MBA said.
You’re probably wondering if I made $55 a year, how much do I truly make? What will that add up to over…
Read More… $55 an Hour is How Much a Year as Annual Income
Paying off debt accrued over the holiday season starts with choosing which strategies to use and then making a solid plan to roll them out.