Industry News
Title, mortgage, and housing news from the sources we trust — newest first.
- When homebuilder M&A turns hostile, talent often walks
In business, executives often spend months modeling synergies, forecasting EBITDA improvements, and calculating cost savings. Yet the factor most likely to determine whether a merger, acquisition, or integration succeeds rarely appears in a spreadsheet: culture. The homebuilding industry offers a useful example. A structured, process-driven builder such as Beazer Homes and a more entrepreneurial organization […]
HousingWire·2026-06-01 - Barrett Financial’s Christina Harmes on emotional intelligence for reverse mortgage brokers
Christina Harmes discusses CRMP ethics, emotional intelligence with senior borrowers, and outreach that drives HECM for Purchase volume.
HousingWire·2026-06-01 - Eye on the wrong prize: How the myth of loan officer productivity is costing lenders
Lenders often mistakenly treat loan officer productivity as an individual trait, overpaying for top producers while ignoring the structural and operational factors that actually drive those results. By redefining productivity as an outcome of market alignment and investing in mid-tier originators, institutions can reduce costly turnover and achieve more sustainable, long-term growth.
HousingWire·2026-06-01 - Kevin Warsh Wants the Fed to Think About Inflation Differently
One number released this past week says inflation is running away from the Federal Reserve’s 2% target. Another says it’s nearly there. At his confirmation hearing in April, Fed Chairman Kevin Warsh urged the central bank to pay more attention to lesser known gauges, turning what had been a technical debate among economists into a live question for policy.
ALTA·2026-06-01 - Tax-weary Americans Flee Blue States for Republican-led Southern Havens
Americans are voting with their feet, leaving high-tax blue states for lower-cost, Republican-led states and reshaping the nation’s economic and political map, according to new Census Bureau data. As states battle for residents and businesses, low-tax red states are attracting jobs, investment and population growth. Democratic-led states continue relying on higher taxes to fund public services and social programs, even as companies and wealthy residents move elsewhere.
ALTA·2026-06-01 - Homeowner Anxiety Hits All-time High With Gen Z and Millennials Reporting the Most Stress
According to Hippo Insurance's 2026 Homeowner Anxiety Report, 25% of homeowners say that homeownership-related anxieties have a high or extremely negative impact on their quality of life, with almost 1 in 5 saying that homeownership is their No. 1 stressor (on par with those who listed their careers or relationships in the top spot).
ALTA·2026-06-01 - Home Purchase Lending Hits 12-year Low
American home purchase lending tumbled to its lowest quarterly total in more than a decade during the first three months of 2026 as elevated home prices and climbing mortgage rates shut out buyers across most of the country. ATTOM, a property data and real estate analytics provider, reported that total residential mortgage originations fell 13% quarter-over-quarter to 1.57 million loans in Q1 2026, with dollar volume slipping 12% to $577.7 billion.
ALTA·2026-05-31 - Real Estate Agents Are Quitting The Slow Housing Market
Kim Taylor bet her career on the housing market. In mid-2023, the real-estate agent launched her own brokerage with her husband, Gordon Taylor. The market in the Fort Worth, Texas, area had cooled from its pandemic-era frenzy, but business was good. Taylor started out with a team of seven agents and quickly brought six more onboard.
ALTA·2026-05-31 - MISMO Targets Costly TRID Fee Cures With New Mortgage Fee Standardization Framework
MISMO has released a new white paper aimed at reducing one of the mortgage industry’s most persistent operational pain points: fee-related disclosure errors that continue to trigger costly cures, redisclosures, and post-closing remediation more than a decade after implementation of the CFPB’s TILA-RESPA Integrated Disclosure rule. The paper, Fee Standardization in the Mortgage Industry, outlines how MISMO’s Consumer Facing Charge and Fee Guide could help lenders, title companies, investors, and technology providers improve consistency in how mortgage fees are named, struct
ALTA·2026-05-31 - CFPB Orders Return to a New, Smaller DC Headquarters
The Consumer Financial Protection Bureau is launching a plan next week to end telework for agency employees – with few exceptions – and reassign them to the bureau’s new headquarters, according to a Wednesday memo seen by Banking Dive. The reassignments include roughly 450 CFPB employees who live outside the D.C. area – typically near the bureau’s former regional outposts in New York, San Francisco, Chicago and Atlanta.
ALTA·2026-05-31 - Property Taxes Rise Across Every Major Metro, Adding to Borrower Affordability Pressure
Property taxes climbed across all 50 of the nation's largest metropolitan areas between 2023 and 2024, adding another affordability challenge for borrowers already grappling with elevated mortgage rates, insurance costs, and home prices. According to a new LendingTree analysis, the median annual property tax bill nationwide reached $3,119 in 2024, up 5.1%, or roughly $150, from the previous year. That translates to about $260 per month in housing costs before homeowners account for mortgage principal, interest, insurance, or HOA fees.
ALTA·2026-05-31 - Housing Inventory Just Turned Negative Year Over Year
Weekly inventory rose to 795,921 but turned negative year over year versus 803,479 last year, with Memorial Day affecting the data. Mortgage rates ended the week at 6.56%, price cuts were 36.88%, and purchase apps were up 5% year over year.
ALTA·2026-05-31 - Berkshire Hathaway to buy Taylor Morrison in $8.5 billion all-cash deal
Berkshire Hathaway Inc. has agreed to acquire Taylor Morrison Home Corporation in an all-cash deal valuing the national homebuilder at approximately $8.5 billion, the companies announced Friday. Under the definitive agreement, Berkshire will pay $72.50 per share in cash, a 24% premium to Taylor Morrison’s closing price of $58.50 on May 29, 2026. The transaction […]
HousingWire·2026-05-31 - Housing inventory just turned negative year over year
Housing inventory turned negative year over year as supply hit 795,921 vs 803,479 last year, with rates at 6.56%.
HousingWire·2026-05-30 - How social media became 100% of a Las Vegas real estate agent’s pipeline
A Las Vegas Realtor says social media now drives 100% of her pipeline, including 5 closings from a 320,000 view video.
HousingWire·2026-05-30 - The Savvy Home Buying Decisions Single Gen Z Women are Making as They Outpace Men in Homeownership
Single Gen Zwomen are significantly outpacing their male counterparts in the pursuit of homeownership, according to new survey data from the National Association of Realtors. Single women within the generation accounted for 35% of all Gen Z homebuyers, while single Gen Z men represented just 18%, according to the NAR survey.
ALTA·2026-05-29 - Beazer takeover bid tests book value and returns
Hostile takeovers don’t happen often among publicly traded companies in America, and they’re even rarer in U.S. homebuilding. So a little over a week of public quiet during Dream Finders Homes’ hostile pursuit of Beazer Homes should not be mistaken for inaction. Rather, this may be the phase when the under-the-hood work moves out of […]
HousingWire·2026-05-29 - As Florida’s housing market finds its footing, sellers still face pricing realities
HousingWire Data shows the median list price of homes in Florida at $495,000, with the median price of new listings at $450,000.
HousingWire·2026-05-29 - Tennessee brokers brace for Zillow listing cutoff amid Realtracs dispute
Tennessee MLS Realtracs plans to cut Zillow feed June 1 over IDX display compliance, as brokers work on direct listing feeds.
HousingWire·2026-05-29 - Will getting rid of property taxes make Florida more affordable?
Supporters argue it could ease affordability pressures while critics warn it may fuel higher home prices and reshape local tax structures.
HousingWire·2026-05-29 - U.S. New Home Sales Slump in April Amid Higher Mortgage Rates, Prices
Sales of new U.S. single-family homes fell in April as the boost from better weather faded and mortgage rates remained elevated. New home sales dropped 6.2% to a seasonally adjusted annualized rate of 622,000 units last month, the Commerce Department's Census Bureau said. Sales were weighed down by winter storms in January before bouncing back in February and March as temperatures warmed up.
ALTA·2026-05-29 - Ohio Governor Pauses Data Center Tax Breaks After Giving Away Far More Than Expected
Ohio is holding off on new tax breaks for data centers, as the lost revenue from the subsidies far exceeds earlier projections. On Tuesday, Republican Gov. Mike DeWine directed the Ohio Tax Credit Authority to hold off on consideration of any new data center tax exemptions. The state legislature has a Joint Data Center Committee that is studying the growth of data centers in Ohio.
ALTA·2026-05-29 - MV Realty to Pay $2.5 Million to California NTRAPS Victims
MV Realty, the company that marketed a controversial homeownership benefits program that locked consumers into a relationship for 40 years, has now settled its legal matters with the California Attorney General's office. The deal follows agreements reached with officials in Nevada, Pennsylvania and North Carolina during April. Massachusetts entered into a settlement with the company in March, as did Colorado.
ALTA·2026-05-28 - Housing Groups Sue to Block CFPB’s ECOA Overhaul
Fair housing and fair lending organizations filed suit on May 27 against the Consumer Financial Protection Bureau and Acting Director Russell Vought, seeking to block a controversial rule that would reshape how fair lending is enforced under the Equal Credit Opportunity Act. The plaintiffs, including the National Fair Housing Alliance, Rise Economy, BLDS LLC, and SolasAI, filed the complaint in the U.S. District Court for the District of Columbia.
ALTA·2026-05-28 - Gas Prices Are Quietly Reshaping Homebuyer Affordability
Rising gas prices are creating another affordability challenge for homebuyers already grappling with elevated mortgage rates and higher monthly housing costs. New data from Rocket Money shows the average user spent 29% more on gas in early May than before the Iran conflict began in late February, while overall household spending increased just 2.9% during the same period.
ALTA·2026-05-28 - Title Companies May Still Have to Follow Anti-money Laundering Rule After FinCEN Appeal
FinCEN has appealed a Texas federal court ruling that vacated its nationwide anti-money laundering rule for residential real estate transactions. While reporting is not currently required while the court order remains in effect, ALTA will continue monitoring the litigation because conflicting federal rulings and pending appeals could determine whether title companies must comply with the rule in the future.
ALTA·2026-05-28 - FHA Will Keep Tri-merge Credit Reports Amid Shift to New Scoring Models
FHA said it will continue requiring tri-merge credit reports as it transitions from FICO Classic to VantageScore 4.0 and FICO 10T. The agency said tri-merge supports consistent evaluation and prudent risk management, with more guidance expected later in 2026.
ALTA·2026-05-28 - Housing Demand Stays Firm, Pushing Inventory Close to Negative YOY
Housing inventory going negative year over year in 2026? Who had that in their bingo card? Even with mortgage rates up as much as 0.76% from the year’s lows at one point, housing demand, for the most part, has held up well in 2026. Last week, our weekly pending home sales data showed positive week-to-week and year-over-year growth, while housing inventory only grew 0.89% year over year. Let’s take a look at the weekend tracker and note that the Memorial Day weekend will impact the tracker data next weekend.
ALTA·2026-05-27 - Housing Authority VP Sentenced for Mortgage Fraud, Benefits Theft
A former senior executive at the Atlanta Housing Authority was sentenced to federal prison last week after prosecutors said she spent years abusing her oversight role to steal housing assistance funds, fraudulently collect pandemic relief money, and misrepresent facts in a mortgage refinancing application. Tracy Denise Jones, 61, of Atlanta, was sentenced May 20 to nine months in prison, followed by nine months of home detention and 15 months of supervised release, according to the US Attorney's Office for the Northern District of Georgia.
ALTA·2026-05-27 - Mamdani's 3 Lofty Plans to Make New York City Housing More Affordable
Zohran Mamdani has ambitious ideas for New York City housing. The Mayor's Office dropped its detailed policy plan — called "Block by Block" — on May 26, outlining goals to build more apartment buildings, convert unused offices and hotels into living space, and help residents navigate one of America's most expensive housing markets. Housing access has been a cornerstone of Mamdani's affordability agenda, with buzzy promises to freeze the rent for a large swathe of NYC apartments and address "bad landlords."
ALTA·2026-05-27 - These 5 Cities are Seeing Big Home Price Cuts
The housing market remains hot in much of the country, with rising prices creating affordability concerns for would-be buyers – though some markets are seeing sizable amounts of price cuts over the last month. Several markets across the Sun Belt and Mountain West regions have seen price cuts more frequently than the national average, data from Realtor.com showed.
ALTA·2026-05-27 - Can Today’s Sandwich Generation Actually Afford a Home, Kids and Eldercare?
Homebuying is already a difficult enough undertaking for many Americans thanks to high home prices, elevated mortgage rates, and constrained inventory. So if you’re one of the millions of people currently caught in the “sandwich generation” of financially supporting both your aging parents and growing—if not fully-grown—children, the idea of also putting money toward a home might feel downright impossible.
ALTA·2026-05-27 - The FinCEN Rule in Limbo: Key Questions for the Title Industry
The legal and regulatory future of FinCEN’s Residential Real Estate Rule remains uncertain following a federal court decision in Texas vacating the rule and the government’s subsequent appeal. While FinCEN recently clarified that title companies are not currently required to file reports while the court order remains in effect, the litigation has raised significant questions for the title industry about timing, compliance obligations and what comes next. Read on as ALTA General Counsel Steve Gottheim answers questions about the status of the litigation, the appeals process and w
ALTA·2026-05-26 - Builders Breaking Ground at Fastest Pace in 2 Years
Residential construction activity was mixed again in April, as building permits rebounded while housing starts pulled back modestly from March’s stronger pace. The latest Census Bureau data continues to reflect a construction sector navigating uneven demand and affordability pressures.
ALTA·2026-05-25 - Home Purchase Cancellations Level Off as Buyers Re-Enter Market
Home purchase cancellations are no longer climbing nationally as buyers and sellers adjust to a housing market defined by higher rates, elevated inventory, and slower — but stabilizing — demand. A new report from Redfin found that just over 47,000 U.S. home-sale agreements were canceled in April, representing 13.4% of homes that went under contract during the month. That was down slightly from March and tied with January for the lowest cancellation rate since September 2024.
ALTA·2026-05-25 - Lawmakers Vote to Crack Down on Wall Street Landlords
Bipartisan majorities in both chambers of Congress have now voted in favor of restricting Wall Street’s footprint in the housing market — a popular move that could make it to the president’s desk before the November elections. But the policy, which would ban investors who own a large stock of single-family homes from purchasing more, will likely do little to increase the availability of housing for American families or to cut costs for renters.
ALTA·2026-05-25 - Title Insurance Industry Posts Bumper Year in 2025
Title insurance premiums ultimately totaled $18.5 billion over the course of 2025, a 13.8% increase from 2024, according to the American Land Title Association (ALTA), reporting annual and fourth-quarter figures for the industry on Friday. “While the housing market continued to face affordability pressures and constrained inventory in 2025,” said Chris Morton, CEO of ALTA, “the increase in title insura
ALTA·2026-05-22 - To Fight Deed Fraud, Maryland Considers the Blockchain
Maryland Governor Wes Moore signed legislation directing the state to study whether blockchain technology could help record and verify real estate ownership amid growing concerns about quitclaim deed fraud. The article notes both support and skepticism around blockchain, with experts emphasizing that technology alone will not solve deed fraud without broader coordination among property owners, recorders, courts, law enforcement, notaries and other trusted parties.
ALTA·2026-05-22 - Smaller Mortgage Vendors Face Squeeze From Lenders, Regulators
A new white paper from Houlihan Lokey details how rising technology, compliance and cybersecurity costs are driving mergers and acquisitions among mortgage service providers. HousingWire reports that mortgage vendors are entering a new phase of consolidation, with deals across title, processing and other mortgage services underscoring how lender expectations around scale, compliance and cybersecurity are shaping the broader mortgage vendor landscape.
ALTA·2026-05-22 - House Passes Amended 21st Century Road To Housing Act
The U.S. House of Representatives passed an amended version of the 21st Century ROAD to Housing Act (H.R. 6644) on Wednesday, May 20, sending the bill back to the Senate for further consideration. The House-amended version would authorize incentives to build new homes, create a program to convert abandoned buildings into housing developments, and establish new grants to modernize existing homes, among other provisions. The package also includes a section on “Housing Supply Frameworks,” which would establish guidelines and best practices for zoning and land-use policies.
ALTA·2026-05-22 - Kevin Warsh Wants to Remake the Fed. Here’s What He is up Against.
Kevin Warsh has been on the public scene for two decades, with a long list of speeches, podcasts, op-eds and interviews about what he thinks the Federal Reserve is for and where it has gone wrong. So why are there so many questions in markets and in Washington about what he will do now that he is about to be the Fed chair?
ALTA·2026-05-22 - Mortgage Rates Surge to 6.51% In Wake of Bond Sell Off: Why Homebuyers Still Have ‘Opportunity’ to Strike
Mortgage rates saw a dramatic spike Thursday, hitting a nine-month high as resurgent inflation stemming from the Middle East conflict pushed Treasury yields upward. The average rate on 30-year fixed home loans jumped to 6.51% for the week ending May 21, up 15 basis points from 6.36% the week before, according to Freddie Mac. For perspective, rates averaged 6.86% during the same period in 2025.
ALTA·2026-05-22 - Arizona’s 57,000 Short-term Rentals Aren’t Actually Killing Housing Supply—but This Is
Short-term rentals have become an easy villain in Arizona’s housing crisis—accused of pulling scarce homes off the market, inflating prices, and turning once-quiet neighborhoods into revolving doors for tourists. But a new analysis suggests the state’s affordability problem runs much deeper than platforms like Airbnb.
ALTA·2026-05-22 - It Might Feel Like Layoffs are Soaring. They're Not.
Jobs can feel precarious right now as well-known companies keep slashing workers. But headline-grabbing layoffs and corporate justifications can give a misleading impression about what ails America’s job market and AI’s role in that. It could lead people to misjudge their career prospects or financial risks. The numbers show that layoffs in the U.S. are roughly at or below levels from before the pandemic, although they are higher than in 2022 when businesses snapped up workers as the economy roared back to life.
ALTA·2026-05-22 - Spaced Out: Tight Availability Shifts Leverage Back to Landlords
Retailers are quickly snapping up space that comes available. Early 2025 was a positive time for retailers looking to expand their footprints, but things have since reverted back to a landlord’s market.
ALTA·2026-05-22 - These Parents Are Buying Homes for Their Kids—With Strings Attached
There’s a lot to love about Jennifer Gross’s new Phoenix home. The stucco four-bedroom with a clay-tiled roof has a three-car garage, overlooks a park and comes with a brick-bordered pool and a hot tub. It has arched entryways, floor-to-ceiling windows and a second-story balcony. The best feature: Her dad bought it for her.
ALTA·2026-05-22 - Data Center Boom Strains Texas Homebuilders’ Need for Electricians
Abilene builder Gene Lantrip is on the front lines of Texas’ population boom, but a new force is making it harder to finish construction on homes. Data centers are poaching the electricians he needs to install light switches and wiring that power his duplexes. The state has added more than 2.6 million residents since 2020, bringing in a steady surge of workers and families who need homes.
ALTA·2026-05-22 - Tight Availability Shifts Leverage Back to Landlords
Early 2025 was a positive time for retailers looking to expand their footprints, but things have since reverted back to a landlord’s market. Notable bankruptcy filings of late 2024 and early 2025 included Party City, Joann, Big Lots, Forever 21 and others, and provided a much-needed 12.5 million square feet of retail space to the commercial market at the beginning of last year, according to CoStar’s data at the time.
ALTA·2026-05-21 - Fewer Sellers Cutting Prices as Spring Buyers Return
As buyers return to the market this spring, the percentage of home sellers cutting their asking price is falling and home prices are rising, according to a Redfin report. Just over 35% of sellers in the United States decreased their asking price in April, down from 35.6% in March on a seasonally-adjusted basis and a record high of 36.6% in August, the report found. But April's mark was up 1.1 percentage points from a year prior.
ALTA·2026-05-21 - Barney Frank, Liberal Icon who Regulated a ‘Too Big’ Financial Industry, Dies at 86
Barney Frank, the former Massachusetts congressman and chief architect of the Dodd-Frank Act, died at 86. Frank’s influence on housing and finance policy was far-reaching: As House Financial Services Committee chairman during the subprime mortgage crisis, he helped shape the federal response to the 2008 financial crisis, backed support for Fannie Mae and Freddie Mac, and pushed reforms that strengthened oversight of banks, mortgages and consumer financial protections
ALTA·2026-05-20 - Inside Influence Episode #24 with Chris Morton
ALTA CEO Chris Morton joined Brody Mullins and David Castagnetti on the Inside Influence podcast to spotlight the power of industry advocacy and why it is important for title professionals to tell their stories directly to lawmakers and the public. Morton elevated the critical role ALTA members play in protecting consumers, strengthening the real estate transaction and helping policymakers understand the value of title insurance. The conversation was an opportunity to showcase the title industry’s voice and impact with key advocacy audiences in Washington.
ALTA·2026-05-20 - Climate Disaster Victims are Rebuilding Using Prefab Homes from Boxy to Bespoke
When the Station Fire roared through the Angeles National Forest in 2009, Colleen and Jason Warnesky could see it from the front porch of their Altadena, Calif., home. Eleven years later, the family witnessed the Bobcat Fire from the same spot as it became one of the largest fires in Los Angeles County history.
ALTA·2026-05-20 - Trump Bullish that Housing Bill Will Make it to His Desk
President Donald Trump is expressing confidence that Congress will be able to pass landmark bipartisan housing legislation despite disagreement between the House and the Senate over certain provisions. The housing legislation has been a point of interchamber contention. Last week, the House released an amended version of the 21st Century ROAD to Housing Act, housing legislation that already passed the Senate overwhelmingly, but that lawmakers in the House and several outside stakeholders had big issues with.
ALTA·2026-05-20 - Mortgage Rates Surge to Highest Level Since July
Growing concern over the trajectory of the war with Iran has bond yields rising and mortgage rates following suit. The average rate on the 30-year fixed loan rose 7 basis points Tuesday to 6.75%, according to Mortgage News Daily. That is the highest level since July 31. Rates are now up 33 basis points in just the last 10 days and are 46 basis points higher than their recent April low of 6.29%.
ALTA·2026-05-20 - Down Payments Plunge to 4-year Low as Buyers Gain More Leverage
House hunters planning to move this summer may not need as much cash for a down payment—a welcome break for buyers finally catching a bit of good luck. A new report from Realtor.com economists shows the median down payment fell to $23,400 in the first quarter of 2026—down 19% from a year earlier and marking the lowest level in four years. The shift signals that buyers don't necessarily need the biggest down payment to make the winning bid.
ALTA·2026-05-20 - More Than 17,000 Under Evacuation Orders as Southern California Wildfire Threatens Homes
More than 17,000 people were under evacuation orders in Southern California on Tuesday as a wildfire threatened suburban homes. The wind-driven Sandy Fire was reported Monday in the hills above Simi Valley, about 30 miles (48 kilometers) northwest of Los Angeles.
ALTA·2026-05-20 - U.S. Pending Home Sales Increase For Third Straight Month
Contracts to purchase previously owned U.S. homes increased for a third straight month in April, likely as ‌a retreat in mortgage rates pulled buyers back into the market. The ‌pending home sales index rose 1.4% last month to 74.8, the National Association of Realtors ?said on Tuesday. Economists polled by Reuters had forecast contracts, which become sales after a month or two, increasing 1.0%.
ALTA·2026-05-19 - Homebuilders Are Getting Buried in Claims of Shoddy Construction
Blake and Beth Horio bought a home in 2022 in a Henderson, Nev., community thinking it would be an ideal place to retire. But soon, cracks began spreading across the ceilings. Their sliding glass doors wouldn’t open. Their foundation sank several inches, leaving a gap underneath the house.
ALTA·2026-05-19 - Cash-out Home Loans on the Rise for Debt Reduction, Renovations
As homeowners sit comfortably on sizeable equity and low mortgage rates, many of them are turning their attention to renovations or paying down debt. Americans this year are projected to spend $518 billion on home renovations, according to the Joint Center for Housing Studies at Harvard University.
ALTA·2026-05-19 - FinCEN Clarifies Reporting Obligations Following Texas Court Ruling
The Financial Crimes Enforcement Network (FinCEN) released three new frequently asked questions May 18 clarifying the status of its Residential Real Estate Rule following a federal court decision in Texas that vacated the regulation nationwide. The FAQs address status of the rule and clarifies whether reports must be filed while the court's order remains in force and if reporting would be required retroactively if the rule is reinstated.
ALTA·2026-05-19 - This is the End and a New Beginning
I've been thinking about this for some time. After 21 years of writing this blog almost daily, I've decided to stop writing the daily updates on the blog. However, the economic data "IV" is still in my arm, and I'll be writing a weekly economic summary at the end of each week (via a newsletter - see below). This will have three parts: the Schedule of economic data for the following week, a Review of data for the previous week, and a Commentary on a current topic. And I'll be writing the Real Estate Newslette
Calculated Risk·2026-01-12 - Sunday Night Futures
Weekend: • Schedule for Week of January 11, 2026 Monday: • No major economic releases scheduled. From CNBC: Pre-Market Data and Bloomberg futures S&P 500 futures are down 16 and DOW futures are down 104 (fair value). Oil prices were up over the last week with WTI futures at $59.37 per bar
Calculated Risk·2026-01-12 - Hotels: Occupancy Rate Increased 4.4% Year-over-year
Hotel occupancy was weak in 2025. It is difficult to tell early in the year because travel is always weak in early January. From STR: U.S. hotel results for week ending 3 January The U.S. hotel industry reported positive year-over-year comparisons, according to CoStar’s latest data through 3 January. ... 28 December 2025 through 3 January 2026 (percentage change from comparable week in 2024 and 2025):
Calculated Risk·2026-01-11 - Real Estate Newsletter Articles this Week:Housing Starts Decreased to 1.246 million Annual Rate
At the Calculated Risk Real Estate Newsletter this week: <img alt="Multi Housing Starts and Single Family Housing Starts" border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjKiUDTX4ntLbqrVXrDl0BpMgZep4l_NftVOJ6X2Q84Wl
Calculated Risk·2026-01-10 - Schedule for Week of January 11, 2026
The key reports this week are December CPI, Existing Home Sales and November Retail Sales. Also, New Home Sales for September and October will be released. For manufacturing, the December Industrial Production report and the January New York and Philly Fed manufacturing surveys will be released. ----- Monday, January 12th ----- No major economic releases scheduled. ----- Tuesday, January 13th ----- 6:00 AM: NFIB Small Business Optimism Index for December. 8:30 AM: The C
Calculated Risk·2026-01-10 - The "Home ATM" Mostly Closed in Q3
Today, in the Calculated Risk Real Estate Newsletter: The "Home ATM" Mostly Closed in Q3 A brief excerpt: During the housing bubble, many homeowners borrowed heavily against their perceived home equity - jokingly calling it the “Home ATM” - and this contributed to the subsequent housing bust, since so many homeowners had negative equity in their homes when house prices declined. ... <a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhkO7YnlxinTvvqwT1wsD
Calculated Risk·2026-01-09 - Fed's Flow of Funds: Household Net Worth Increased $6.1 Trillion in Q3
The Federal Reserve released the Q3 2025 Flow of Funds report today: Financial Accounts of the United States . The net worth of households and nonprofits rose to $181.6 trillion during the third quarter of 2025. The value of directly and indirectly held corporate equities increased $5.5 trillion and the value of real estate decreased $0.3 trillion. ... Household debt increased 4.1 percent at an annual rate in the third quarter of 2025. Consumer credit grew at an annual rate of 2.3 p
Calculated Risk·2026-01-09 - Newsletter: Housing Starts Decreased to 1.246 million Annual Rate in October
Today, in the Calculated Risk Real Estate Newsletter: Housing Starts Decreased to 1.246 million Annual Rate in October A brief excerpt: Note: The Census Bureau is still catching up. They released Start data for September and October today, but we are still missing November data. ... The third graph shows the month-to-month comparison for total starts between 2024 (blue) and 2025 (red). <a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjz66_NLOQ
Calculated Risk·2026-01-09 - Housing Starts Decreased to 1.246 million Annual Rate in October
From the Census Bureau: Permits, Starts and Completions Housing Starts: Privately-owned housing starts in October were at a seasonally adjusted annual rate of 1,246,000 . This is 4.6 percent below the revised September estimate of 1,306,000 and is 7.8 percent below the October 2024 rate of 1,352,000. Single-family housing starts in October were at a rate of 874,000; this is 5.4 percent above the revised September figure of 829,000. The October rate for units in buildings with five un
Calculated Risk·2026-01-09 - Comments on December Employment Report
The headline jobs number in the December employment report was slightly below expectations, however October and November were revised down by 76,000. The unemployment rate decreased to 4.4%. Earlier: December Employment Report: 50 thousand Jobs, 4.4% Unemployment Rate Prime (25 to 54 Years Old) Participation <a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh5GC-eRR1SzSyNJifVWrKQu1PseKeTQLYYirlIzxTbkQqZ6R7
Calculated Risk·2026-01-09 - December Employment Report: 50 thousand Jobs, 4.4% Unemployment Rate
From the BLS: Employment Situation Both total nonfarm payroll employment (+50,000) and the unemployment rate (4.4 percent) changed little in December, the U.S. Bureau of Labor Statistics reported today. Employment continued to trend up in food services and drinking places, health care, and social assistance. Retail trade lost jobs. ... The change in total nonfarm payroll employment for October was revised down by 68,000, from -105,000 to -173,000, and the change for November was revised down by 8
Calculated Risk·2026-01-09 - Friday: Employment Report, Housing Starts, Flow of Funds
<img alt="Mortgage Rates" border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjHIS4dPIgOf0yU1tuorRdg0LKg-Cla949N_stW7_sAoECMgblPSFUe-nKMHcGUVKMQEsar0gOm-QJFUar9sXidXZti7Zl_ALcFpWswmafeXRsZGltraLmN7xPoKIa1p81jKLEKhNG-cScZfj7yBrQkYAv43K8IRVdSAteXBe7B9qnhwFo3RW79/s320/Image%201-8
Calculated Risk·2026-01-09 - December Employment Preview
On Friday at 8:30 AM ET, the BLS will release the employment report for December. The consensus is for 55,000 jobs added, and for the unemployment rate to decrease to 4.5%. There were 64,000 jobs added in November, and the unemployment rate was at 4.6%. From Goldman Sachs: We forecast that payrolls rose 70k (vs. 55k consensus) in December and the unemployment rate fell to 4.5% (vs. 4.5% consensus). ... We expect the unemployment rate to edge down to 4.5% because the increase to 4.6% in November largely reflected the impact of furloughed federal govern
Calculated Risk·2026-01-08 - Wholesale Used Car Prices Increased Slightly in December; Up 0.4% Year-over-year
From Manheim Consulting today: Manheim Used Vehicle Value Index: December 2025 Trends The Manheim Used Vehicle Value Index (MUVVI) rose to 205.5, reflecting a 0.4% increase for wholesale used-vehicle prices (adjusted for mix, mileage, and seasonality) compared to December 2024 . The December index is up 0.1% month over month. emphasis added <a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgGA9HxyweYze
Calculated Risk·2026-01-08 - Trade Deficit Decreased to $29.4 Billion in October
The Census Bureau and the Bureau of Economic Analysis reported : The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $29.4 billion in October, down $18.8 billion from $48.1 billion in September, revised. October exports were $302.0 billion, $7.8 billion more than September exports. October imports were $331.4 billion, $11.0 billion less than September imports. emp
Calculated Risk·2026-01-08 - Weekly Initial Unemployment Claims Increase to 208,000
The DOL reported : In the week ending January 3, the advance figure for seasonally adjusted initial claims was 208,000 , an increase of 8,000 from the previous week's revised level. The previous week's level was revised up by 1,000 from 199,000 to 200,000. The 4-week moving average was 211,750, a decrease of 7,250 from the previous week's revised average. This is the lowest level for this average since April 27, 2024 when it was 210,250. The previous week's average was revised up by 250 from 218,750 to 219,000. <span s
Calculated Risk·2026-01-08 - Thursday: Trade Deficit, Unemployment Claims
<img alt="Mortgage Rates" border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiHZyMQOMruB7dUlFOUyn86XKG52NWcWJH-pXUyIeeKoT-YWBjv6hjN11lnj0QZ18imvA5VqPaf0hTHRY8jcYXjEt-pf6ivFeCyYcCvf6nk-etV5_9-KLBw9uUIJltvNcv307ZvLaWPKnlycktAR7DVqIbRG50FKPDqhxPg-kC8vgnfii9ufAQH/s320/Image%201-7
Calculated Risk·2026-01-08 - 1st Look at Local Housing Markets in December
Today, in the Calculated Risk Real Estate Newsletter: 1st Look at Local Housing Markets in December A brief excerpt: Last year (2025) might have seen the lowest number of existing home sales since 1995. It will be close! Even if sales beat 2024 sales, these will be the two lowest sales years since 1995. Sales will be worse than any year during the housing bust. Most readers probably don’t remember 1995, but I do! If I went to an open house ‘95, I was frequently the onl
Calculated Risk·2026-01-07 - ISM® Services Index Increased to 54.4% in December
(Posted with permission). The ISM® Services index was at 54.4%, up from 52.6% the previous month. The employment index increased to 52.0%, up from 48.9%. Note: Above 50 indicates expansion, below 50 in contraction. From the Institute for Supply Management: Services PMI® at 54.4% December 2025 ISM® Services PMI® Report Economic activity in the se
Calculated Risk·2026-01-07 - BLS: Job Openings Declined to 7.1 million in November
From the BLS: Job Openings and Labor Turnover Summary The number of job openings was little changed at 7.1 million in November , the U.S. Bureau of Labor Statistics reported today. Over the month, hires were little changed and total separations were unchanged at 5.1 million each. Within separations, both quits (3.2 million) and layoffs and discharges (1.7 million) were little changed. emphasis added The following graph shows job openings (black line)
Calculated Risk·2026-01-07 - ADP: Private Employment Increased 41,000 in December
From ADP: ADP National Employment Report: Private Sector Employment Increased by 41,000 Jobs in December; Annual Pay was Up 4.4% “Small establishments recovered from November job losses with positive end-of-year hiring, even as large employers pulled back,” said Dr. Nela Richardson, chief economist, ADP. emphasis added This was
Calculated Risk·2026-01-07 - MBA: Mortgage Applications Decreased Over a Two-Week Period
From the MBA: MMortgage Applications Decreased Over a Two-Week Period in Latest MBA Weekly Survey Mortgage applications decreased 9.7 percent from two weeks earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending January 2, 2026. The results include an adjustment for the holidays. The Market Composite Index, a measure of mortgage loan application volume, decreased 9.7 percent on a seasonally adjusted basis from two weeks earlier
Calculated Risk·2026-01-07 - Wednesday: ADP Employment, Job Openings, ISM Services
<img alt="Mortgage Rates" border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhyJrK0Pr_xMUPhFLJQobRlWFQ5xnYOgc5VIA6-_gPVbKRLuuzW0xHre-P5NFx1Nf-rK5oR3bgCi7QYqlO_GOisbCs6cEA2_vnMoDV8JQkXu6WuVr7cl62lqailBsIAkJGwoM-QP_Nt42HHe1d2EN_yAY25OSCZ6cxgz8zX7N7SlDWMYgJmKG0S/s320/Image%201-
Calculated Risk·2026-01-07 - Light Vehicle Sales Increased to 16.0 Million SAAR in December
The BEA reported that light vehicle sales were at 16.0 million in December on a seasonally adjusted annual basis (SAAR). This was up 1.9% from the sales rate in November, and down 4.9% from December 2024. <img alt="Vehicle Sales" border="0"
Calculated Risk·2026-01-06 - Heavy Truck Sales Collapsed in Q4; Down 32.5% Year-over-year in December
This graph shows heavy truck sales since 1967 using data from the BEA. The dashed line is the December 2025 seasonally adjusted annual sales rate (SAAR) of 311 thousand. Note: "Heavy trucks - trucks more than 14,000 pounds gross vehicle weight." <a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhENBLZ35HIcl-pQsT7Tlx_-JxdWdkr4hXoXGdcpZvob7VSc_u0UdvtXDI7ccitC2L3h7f7m1pacsPMPwHZxwlkuJj9ASihviVtX0QnPIuI5sQIWBWZtklOnJzXiDgqWk4cn1oPBL8WkxCX8nKhmeIyJMCkuERBZpC_CQQtO65W2hvqLL0adtsr/s1774/Image%201-6-26%20at%207.49%E2%80%AFAM.jpeg" style="margin-left: 1em; mar
Calculated Risk·2026-01-06