Tuesday, July 28, 2015 - 09:33 Fannie Mae: Many Lenders Require Higher FICOs than GSEs - Text 0
WASHINGTON (MNI) - The following are Fannie Mae's summary and commentary related to its survey of mortgage lenders showing many require credit scores higher than the GSEs require, as the U.S. homeownership rate falls to its lowest level since 1990:
The U.S. economy has improved significantly since the Great Recession, and mortgage credit standards are loosening gradually. Nevertheless, the homeownership rate continues to decline and remains currently at the lowest level since 1990. Credit overlays, referring to stricter mortgage approval standards that lenders place above the guidelines set by investors (such as the GSEs), are a potential and often cited factor impacting consumers' access to mortgage credit.
Tuesday, July 28, 2015 - 08:55 US Redbook: Some Reports of Unmotivated Consumers 0
WASHINGTON (MNI) - The following is the text of the weekly retail sales report released by Johnson Redbook Tuesday, for the month-to-date through the week ended July 25:
The Johnson Redbook Retail Sales Index was up 1.0% in the third week of July following a 1.2% gain the prior week. Month-to-date, July was up 1.2% compared to July of last year (relative to a target of a 1.3% gain). Month-over-month showed a 0.1% gain versus June (relative to a target of a 0.2% gain). July is a four-week month on the retail calendar ending on August 1st.
In the most recent period retailers continued to focus on clearing summer goods and bringing in back-to-school merchandise. Moreover, retailers in seventeen states are gearing up for tax...
Tuesday, July 28, 2015 - 08:32 Canada Jun Indus Prices +0.5% M/M; Ex CAD Depreciation +0.2% 0
--IPPI Ex Energy and Petroleum +0.4% M/M; +3.1% Y/Y
--RMPI Unch M/M, -17.5% Y/Y; Ex Crude Energy -0.8% M/M, -0.5% Y/Y
OTTAWA (MNI) - Price increases in energy and motor vehicles combined with the pass-through effect of the weaker loonie contributed to a 0.5% gain in Canadian industrial product prices in June, Statistics Canada's data showed Tuesday.
Excluding the monthly 2.0% rise in energy and petroleum, led by a 5.9% increase in gasoline prices, the Industrial Product Price Index was still up 0.4%, as gains were widespread across 15 of 21 commodity groups, including a 1.2% rise in motor vehicles.
Tuesday, July 28, 2015 - 07:45 Retail Econ: Back-to-School Buying Starts on Soft Note -Text 0
WASHINGTON (MNI) - The following is the text of the Retail Economist's report on same-store sales results released Tuesday:
The Retail Economist-Goldman Sachs Weekly Chain Store Sales Index declined by 0.2% (seasonally adjusted) compared with its previous week for the period ending on Saturday, July 25. On a year-over-year basis, sales rose by a moderate 2.2% -slightly slower than its prior week's pace
Tuesday, July 28, 2015 - 05:37 ECB Allots E75.150 Bln In 7-Day Funds, 119 Bids 0
FRANKFURT (MNI) - The European Central Bank on Tuesday allotted E80.023 billion in its main seven-day refinancing operation at a fixed rate of 0.05%.
The ECB satisfied all of the 129 bids received.
Today's operation resulted in a net add of E4.873 billion after the ECB allotted E75.150 billion in its 7-day MRO last week.
--MNI London Bureau; tel: +44 207-862-7492; email: email@example.com
Monday, July 27, 2015 - 09:06 US Jun Bldg Permits Revised Down To +7% To 1.337 Mln Unit Rate 0
--June Permits Originally Reported +7.4% To 1.343 Mln Unit Rate
WASHINGTON (MNI) - The number of U.S. building permits issued in June was revised down to an increase of up 7% to a 1.337 million unit annual rate, the Commerce Department's Bureau of the Census said Monday.
Permits issued were originally reported up 7.4% to a 1.343 million unit rate.