Housing Gains Foothold as Mortgage Rates Dip

first_img July 19, 2012 385 Views The third week of July brought news of more mortgage rate lows, according to “”Freddie Mac””:http://www.freddiemac.com/.[IMAGE]The GSE found the 30-year fixed-rate mortgage averaging 3.53 percent (0.7 point), down from 3.56 percent from the past week and 4.52 percent from the year before. In all of 2012, the average 30-year home loan has only scaled to 4 percent or higher for one week.The average 15-year mortgage for the week was 2.83 percent (0.6 point), down from 2.86 percent[COLUMN_BREAK]the week before and 3.66 percent at the same time in 2011. This week marks the eighth consecutive week that the average 15-year fixed-rate mortgage has been below 3 percent.The 5-year adjustable-rate mortgage (ARM) also fell, averaging 2.69 percent (0.6 point), a drop from 2.74 percent last week. The 1-year ARM saw no changes, hovering at 2.69 percent (0.4 point).””Frank Nothaft””:http://www.freddiemac.com/bios/exec/nothaft.html, VP and chief economist with Freddie Mac, explained how the low rates are aiding in the housing market’s recovery.””With little signs of inflation and the Federal Reserve’s ├â┬ó├óÔÇÜ┬¼├ï┼ôOperation Twist’ keeping U.S. Treasury bond yields in check, fixed mortgage rates are remaining low and helping to stir the housing market,”” said Nothaft. “”Bankrate.com””:http://www.bankrate.com/ also posted new record lows, with the 30-year home loan falling to 3.78 percent from 3.79 percent from the week before. According to the finance Web site, the 15-year mortgage averaged 3.04 percent, inching down from 3.05 percent. Meanwhile, the average 5-year and 1-year ARM rate fell to 2.89 percent, down from 2.95 percent. in Data, Government, Origination, Secondary Market, Servicing Housing Gains Foothold as Mortgage Rates Dipcenter_img Share Adjustable-Rate Mortgage Agents & Brokers Bankrate Freddie Mac Housing Affordability Investors Lenders & Servicers Mortgage Rates Processing Service Providers Treasury Yields 2012-07-19 Tory Barringerlast_img read more

FirstTime Jobless Claims Drop to 10Week Low

first_img in Data, Government, Secondary Market One week after spiking to a two-month high, first-time claims for unemployment insurance dropped 24,000 to 334,000 for the week ending July 13–the lowest level in 10 weeks, the “”Labor Department””:http://www.ows.doleta.gov/press/2013/071813.asp reported Thursday. [IMAGE]Economists expected the number of claims to drop to 344,000 from the 360,000 originally reported for the week ending July 6. The number of filings for that week was revised down to 358,000.While initial claims fell, the number of persons continuing to collect unemployment insurance for the week ending July 6–reported on a one week lag–spiked to a five-month high, increasing 91,000 to 3,114,000. The number of continuing claims for the week ending June 29 was revised up to 3,023,000 from the originally reported 2,977,000.The report on first-time claims covered the “”reference”” week used by the Bureau of Labor Statistics (BLS) for its monthly Employment Situation report for July, scheduled to be released August 2. From mid-June to mid-July, the number of first-time claims dropped 21,000, and the four-week moving average of claims fell 2,500.The four-week moving average of first-time claims for the week ending July 13 was 346,000, down 5,250 from the previous week. The four-week average of continuing claims–also reported on a one-week lag–increased 148,000 to 3,019,250, the highest level since the end of April. The drop in first-time claims reflected a correction to the sharp jump reported for the week ending July 6, which resulted from the holiday-shortened week and a resumption of the auto industry practice of furloughing workers as auto plants are retooled for the new model years. When the auto industry was slumping, the early summer furloughs had been abandoned, so the practice wasn├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ót included in seasonal adjustment factors that account for recurring predictable events that affect claims. Even now, the auto industry calendar is less predictable, with new models introduced at various points in the year.The week-over-week jump in continuing claims was the largest since the beginning of November, when continuing claims increased 193,000 in one week. Large weekly increases in the data series are not unusual because of reporting methodologies, but continuing claims have increased in three of the last four weeks, swelling the number of recipients by a net 148,000.The week-over-week decline in first time claims continues the steady–though sometimes bumpy–improvement in the labor markets. First-time claims have dropped a net 33,000 this year, even though claims have increased in 12 of the first 28 weeks of the year. In those 12 weeks, the average increase was 18,000, while in the 16 weeks in which first-time filings dropped, the average decline was just under 16,000.The Labor Department said the total number of people claiming benefits in all programs for the week ending June 29 was 4,519,501, a decrease of 1,903 from the previous week. There were 5,753,820 persons claiming benefits in all programs in the comparable week in 2012. Extended Benefits were not available in any state during the week ending June 29. According to the BLS, 11,777,000 persons were officially considered unemployed in June, with 4,328,000 “”long-term”” unemployed–that is, out of work for at least 27 weeks. Of those individuals counted as unemployed,7.26 million were not receiving any form of government unemployment insurance for the week ending June 29, down about 10,000 from the week earlier.The Labor Department said states reported 1,636,731 persons claiming Emergency Unemployment Compensation (EUC) benefits for the week ending June 29, a decrease of 24,152 from the prior week. There were 2,524,363 persons claiming EUC in the comparable week in 2012. EUC benefits this year were directly threatened by the federal budget sequester. States responded to the sequester by reducing the number of weeks for which benefits were paid or cutting the amount paid.According to the Labor Department detail, also reported on a one-week lag, the largest decreases in initial claims for the week ending July 6 were in New Jersey (-4,370), California (-4,265), Texas (-3,133), North Carolina (-2,236), and Washington (-1,253), while the largest increases were in Michigan (+17,700), New York (+15,163), Pennsylvania (+4,831), Kentucky (+4,386), and Ohio (+3,771).Of the 15 states reporting increases of 1,000 or more initial claims for the week ending July 6, nine cited increases in layoffs in the manufacturing sector. _Hear Mark Lieberman Friday on P.O.T.U.S. Radio, Sirius-XM 124, at 6:20 a.m. Eastern._ July 18, 2013 439 Views Unemployment,First-Time Jobless Claims Drop to 10-Week Lowcenter_img Agents & Brokers Attorneys & Title Companies Confidence Consumer spending Investors Jobs Labor Department Lenders & Servicers Mark Lieberman Service Providers Unemployment 2013-07-18 Mark Lieberman Sharelast_img read more

FHA to Bring Down Loan Limits for 2014

first_imgFHA to Bring Down Loan Limits for 2014 in Origination Share The “”Federal Housing Administration””:http://portal.hud.gov/hudportal/HUD?src=/federal_housing_administration (FHA) is bringing down loan limits on single-family mortgages next year, HUD announced Friday.[IMAGE]According to “”Mortgagee Letter 13-43″”:http://portal.hud.gov/hudportal/HUD?src=/program_offices/administration/hudclips/letters/mortgagee, FHA’s revised ceiling for single-family loan limits will come down to $625,000 from $729,750. The change marks the first full implementation of loan-limit calculations under the Housing and Economic Recovery Act of 2008; the lower limits were originally scheduled to be put into place at the start of 2009, but Congress delayed any action “”due to continuing strains in credit markets”” at the time, HUD said.””As the housing market continues its recovery, it is important for FHA to evaluate the role we need to play,”” said FHA Commissioner Carol Galante. “”Implementing lower loan limits is an important and appropriate step as private capital returns to portions of the market and enables FHA to concentrate on those borrowers that are still underserved.””As a result of the changing law, HUD estimates about 650 counties will have lower limits.Meanwhile, the loan limit floor for low-cost housing areas will remain at $271,050. Also left untouched were loan limits for FHA-insured reverse mortgages, which will continue to have a maximum claim amount of $625,500.As per usual, counties in Alaska, Hawaii, Guam, and the Virgin Islands will see higher limits to account for greater construction costs. The limit for a single-family loan in those areas will be $938,250.HUD also announced it is accepting requests for local increases until January 6, 2014. Requests sent in must have sufficient sales price data for one-family properties from January through August 2013; HUD will only consider changes in counties for which it lacks sufficient transaction data.center_img December 9, 2013 454 Views Agents & Brokers Attorneys & Title Companies Carol Galante FHA HUD Investors Lenders & Servicers Service Providers 2013-12-09 Tory Barringerlast_img read more

Census Bureau New Home Sales at Highest Rate in Seven Years

first_img March 24, 2015 517 Views Sales of new single family homes took an unexpected turn Tuesday, when data released showed the rate rose to the highest it has been in seven years. According to data released by the U.S. Census Bureau and HUD, the February sales are up nearly 25 percent compared to sales from that month last year. Sales for February 2014 were at a seasonally adjusted annual rate of 539,000. This is 7.8 percent above the January rate of 500,000.The report brings positive news to what some might say has been a lackluster start for housing in the New Year. January marked a slow start for housing recovery, with single-family housing starts falling 6.7 percent month-over-month. Overall, January’s new construction rate was down 2 percent from the month before. And in February, privately-owned housing starts dropped to the lowest rate seen in years. Housing starts for February dropped 17 percent to a seasonally adjusted annual rate of 897,000.The median sales price of new houses sold in February 2015 was $275,500; the average sales price was $341,000. The seasonally adjusted estimate of new houses for sale at the end of February was 210,000. This represents a supply of 4.7 months at the current sales rate.The Northeast saw the largest increase in both month-over-month and year-over-year figures with improved weather conditions. The region had an 84 percent increase in sales from February 2014 and a massive 152.9 percent increase from January 2015 to February 2015. The West also saw a large increase in year-over-year rates with a 34 percent increase, but had a 6 percent decrease in sales from January 2015 to February 2015. The South showed gains in both monthly and yearly figures, while the Midwest saw a 3.6 percent decline year-over-year and a 12.9 percent decline month-over-month. Census Bureau: New Home Sales at Highest Rate in Seven Years in Daily Dose, Data, Featured, Newscenter_img Share HUD New Home Sales U.S. Census Bureau 2015-03-24 Samantha Guzmanlast_img read more

NAMB Asks President Obama to Update Mortgage Industry Speech

first_img CFPB John Councilman Mortgage Brokers NAMB Obama 2015-03-30 Samantha Guzman in Daily Dose, Government, Headlines National Association of Mortgage Brokers (NAMB) president John Councilman wrote a letter to President Obama after his speech at Lawson State Community College, urging the President to update his speech to reflect the current state of the mortgage industry. In his speech, President Obama spoke of the important role the Consumer Financial Protection Bureau (CFPB) has played in helping the U.S. recover from the financial crisis. However, according to Councilman, in an effort to praise the CFPB, the president signaled out mortgage brokers as “unscrupulous.””It is my hope, as our President, that you will speak more positively of mortgage brokers,” Councilman said in the letter. “They are providing the most cost-effective origination channel, the widest variety of programs, and the best customer service. I believe you can honestly be assured that mortgage brokers provide a wonderful alternative to the large banks.”Councilman stressed that no one has worked more diligently to prevent another financial crisis than mortgage brokers. He says the NAMB has worked with state legislators to pass laws to regulate mortgage brokers and mortgage originators and in July 2008, Congress passed the S.A.F.E. Act with input from the NAMB. This act licensed all non-bank mortgage originators. After this, the Federal Reserve created an anti-steering rule with NAMB input. According to Councilman, all of these happened before the creation of the CFPB.“Today, mortgage brokers stand as the safest channel for consumers seeking a mortgage. Mortgage broker and other non-bank originators are the only licensed, tested, fully educated mortgage originators,” the letter said. “Bank originators have less rigorous requirements as well as less stringent criminal background standards. In its recent guidance on mini-correspondents, the CFPB concluded that mortgage brokers offer “important consumer protections” not available to consumers through other channels.”The NAMB president ended his letter by asking President Obama to encourage the CFPB to “level the playing field for all mortgage originators.”“The maintenance of a competitive mortgage market was called for under Dodd-Frank but has not been realized,” Councilman said. “There are instances where mortgage brokers are unable to help lower-income borrowers due to current regulations, making the borrower’s only choice a large bank, if they receive a loan at all.” Sharecenter_img NAMB Asks President Obama to Update Mortgage Industry Speech March 30, 2015 448 Views last_img read more

OCC Head Shoots Down Volckers Plan

first_img Share in Daily Dose, Featured, Government, News Last week, former Federal Reserve Chairman Paul Volcker had proposed a plan for overhauling the federal regulatory system—one that included eliminating the Office of the Comptroller of the Currency (OCC) altogether. Since dubbed the “Volcker plan,” the head of the OCC, Thomas Curry, has come out against the proposal, saying it would be ineffective at solving the nation’s regulatory issues.According to the Wall Street Journal, Curry sent an email to OCC employees Wednesday stating, “While I have great respect for Mr. Volcker, I disagree with him completely on this issue. In fact, I told him so in a recent conversation.”The OCC is crucial, Curry said in his email, as it is the only regulatory agency that is focused exclusively on supervision.“Because of that,” Curry wrote, “we have developed great expertise in prudential supervision, so much so that I would argue that our agency is home to the most talented and experienced supervisory staff anywhere in the world.”Curry said the agency is constantly improving, citing recent initiatives like Heightened Standards, Supervisory Peer Review and the creation of new offices for strategic management and enterprise risk management as evidence.“The drive to question ourselves and improve is one of the reasons that the OCC remains the nation’s preeminent supervisory agency,” Curry wrote.But according to Volcker, that doesn’t matter. In his proposal, titled “Reshaping the Financial Regulatory System,” Volcker criticizes the nation’s reliance on a regulatory system that is too large, too complex, and too fragmented. He calls for cutting out the OCC, merging other regulatory agencies, and creating a single, more focused oversight agency to manage the U.S. financial system.In Curry’s email, however, he stated that Volcker’s plan is unlikely to be successful.“There have been a number of attempts over the last three decades to merge the bank regulatory agencies,” Curry wrote in his email. “Yet none have succeeded … It is highly unlikely that this proposal will fare any better than those that preceded it.”To conclude his email, Curry said it’s not Volcker’s plan that matters, but ensuring a stable banking system for the American people.“At the end of the day, however, what really matters is that we continue to provide the kind of strong supervisory oversight that ensures a safe and sound federal banking system capable of supporting a strong national economy and the financial interests of the American people,” he wrote. “That’s the reasons the OCC has excited for 152 years and it is the reason we will proudly continue to serve the American people in the future.”View the full email by clicking here. April 24, 2015 482 Views center_img OCC Head Shoots Down Volcker’s Plan Financial Regulation OCC Paul Volcker 2015-04-24 Seth Welbornlast_img read more

Is Student Loan Debt Affecting Millennial Homeownership Rates

first_img Share At-risk borrowers: These are the borrowers identified by Looney and Yannelis in their analysis of the Department of Education data. Many of these borrowers are from less affluent groups. They may be economically worse off than before they started school—they have no improvement in their job prospects but they have significant student debts to repay. Delinquency and default on their student loans has hurt their credit scores “The low homeownership rate among millennials is still something of a puzzle — it cannot be explained solely by the increase in student loan debt,” said Sean Becketti, chief economist, Freddie Mac. “However student debt plays a role — higher balances are associated with a lower probability of homeownership at every level of college and graduate education. And recent data has confirmed that not all student debt is created equal.”Click here to view the complete report. in Daily Dose, Data, Headlines, Market Studies, News While student loan debt does play a role in the low homeownership rates among millennials, it does not fully explain why this generation is slow to purchase a home, according to Freddie Mac’s monthly Insight & Outlook for September released Wednesday.Some housing experts expected the homeownership rate, which has been decreasing since 2004 to get a much-needed boost as millennials entered the housing market. However, there have been no results on this end and the homeownership rate has continued to fall.One explanation that most seem to point to is student loan debt, the report says. Freddie Mac questions if student loan debt and the decline in the millennial homeownership rate are directly related.”While we can’t answer that question definitively, there are some tantalizing clues in the data,” the report said. “Note that student loan debt alone can’t explain the low homeownership rate among millennials. After all, the homeownership rate in this cohort has dropped 5 to 6 percentage points for student loan borrowers and non-borrowers alike.””The low homeownership rate among Millennials is still something of a puzzle — it cannot be explained solely by the increase in student loan debt.”Freddie Mac’s data showed student debt tripled over the past 10 years, reaching $1.2 trillion in the fourth quarter of 2014. Although student debt increased for all age groups, the balances are focused among those under 30 years old and those between 30 and 39 years old.Pre-crisis homeownership rates of 27-to-30-year-olds with student loans, with at least some college education, were 2 to 3 percent higher than homeownership rates of those with no student loans. This gap started to close during the recession and changed direction in 2011. The homeownership rate of borrowers was about one percentage point lower than the rate of non-borrowers by 2014.Freddie Mac separated student loan borrowers into three groups for how they approach homeownership and mortgage lending:Successful investors: Borrowers who completed their degrees and found that their post-college earnings are matching their expectations. Unless they are challenged to accumulate a down payment, student loan debt is not a significant deterrent to purchasing their first home. However, they may be delaying for other reasons; Disappointed earners: Graduates of four-year institutions whose return on their education investment is less-than-expected. They may not be able to find a job in their field and their wage income is lower than originally anticipated. Some of these borrowers took highly-specialized instruction in fields that deteriorated during their period of studies (for example, petroleum engineers graduating now). Their relatively low earnings and student debt burden may hinder homeownership for this group. Is Student Loan Debt Affecting Millennial Homeownership Rates? September 30, 2015 617 Views Freddie Mac Homeownership Rate Millennials 2015-09-30 Staff Writerlast_img read more

Richmond Fed President Central Bankers Can Spur Economic Growth

first_img Share Economic Growth Federal Reserve Bank of Richmond Inflation Monetary Policy 2016-02-24 Staff Writer Richmond Fed President: Central Bankers Can Spur Economic Growth President of the Federal Reserve Bank of Richmond Jeffrey M. LackerIn a speech today at the Johns Hopkins Carey Business School, President of the Federal Reserve Bank of Richmond Jeffrey M. Lacker discussed monetary policy, inflation, and how the central bank can help spur economic growth.The biggest takeaways? That inflation may soon rise, and central bankers have a responsibility to keep it stable.To begin, Lacker started by addressing a common concern: That an economic recession is impending, and central banks—along with their low interest rates—are likely to blame. These concerns, he said, “presume that monetary policy has a significant direct effect on economic growth—a presumption, I will argue, that is based on a misunderstanding of what monetary policy can and can’t do.”He continued: “Monetary policy’s ability to affect real economic activity—when monetary policy is being reasonably well-executed—can be quite limited and is almost always short-lived,” Lacker said.“The role of the Fed is not to prevent every recession or to soothe every instance of financial instability, nor is it within its power to do so. Central banks garner too much praise when times are good and too much blame when times are bad.” -President of the Federal Reserve Bank of Richmond Jeffrey M. LackerBut poor monetary policy, Lacker said, can create real problems.“Poor monetary policy that leads to high and widely varying inflation can impede economic growth in a number of ways,” Lacker said. “Monetary policy can have a sustained positive effect on economic growth by avoiding the negative consequences of poor monetary policy. This requires low and stable inflation.”Achieving this stable inflation is harder than it once was, Lacker said, especially since the housing bust.“Reconciling the behavior of monetary measures with the behavior of inflation has been more difficult since the crisis,” Lacker said. “The dramatic increase in the Fed’s monetary liabilities after 2008—from just under $1 trillion to over $4 trillion now—caused concern that surging inflation was imminent. That hasn’t happened. Inflation has not only failed to rise, but has been persistently low relative to the FOMC’s stated goal of 2 percent. The last reading of 2 percent or greater for the 12-month change in the personal consumption price index was in April 2012, and since 2013, the core index has fluctuated between 1.3 and 1.7 percent.”The index may creep closer to the 2 percent goal in the next few years however. According the New York Fed’s Survey of Consumer Expectations, consumers expect it to average 2.5 percent over the next five years, while the University of Michigan’s survey predicts 2.4 percent for the next five years.“Both these measures of expectations have declined slightly recently,” Lacker said, “but overall remain consistent with the Fed’s inflation target.”To wrap up, Lacker summed up his thoughts on the Fed, along with its role in maintaining a stable financial environment.“The role of the Fed is not to prevent every recession or to soothe every instance of financial instability, nor is it within its power to do so,” Lacker said. “Central banks garner too much praise when times are good and too much blame when times are bad. It is within the Fed’s power to control the long-run path of the price level, and this remains true even in a world with interest on reserves and large bank reserve account balances.”Still, Lacker acknowledged the Fed does have a role to play when it comes to long-term economic growth.“Economies thrive best in an environment of basic monetary stability,” he said. “In my view, the most important contribution central bankers can make to economic growth is low and stable inflation.”center_img February 24, 2016 647 Views in Daily Dose, Government, Headlines, Newslast_img read more

AmeriFirst Welcomes New President to Southwest Division

first_imgAmeriFirst Welcomes New President to Southwest Division AmeriFirst AmeriTrust Company News 2018-04-02 Staff Writer Share AmeriFirst Home Mortgage (AmeriFirst), a division of AmeriFirst Financial Corp., has announced the appointment of Ronald Bergum as President of its newly formed Southwest Division. As a recognized mortgage industry leader, Bergum has held numerous executive level positions in the mortgage industry, with his most recent position of CEO at Prospect Mortgage, LLC, as well as serving as Co-CEO of Indymac Bank’s Retail Lending Group, and EVP of Production and Sales for the Western Retail Division of American Home Mortgage.“Ron has the unique ability to take his vision, passion and in-depth understanding of the mortgage industry’s competitive landscape and motivate his talented team to achieve exceptional results,” said David Gahm, Co-CEO and Co-Founder of AmeriFirst. “He has a track record of establishing a solid business foundation and building it into an industry leader and doing so in an industry that is often volatile and challenging. We are confident in his ability to successfully take us through this new phase of growth in Southern California.”AmeriFirst, headquartered in Kalamazoo, Michigan, opened its first Southern California branch in Rancho Cucamonga in mid-March of this year. Bergum will oversee the advancement of the company’s entrance in this market by with an initial team of 12 personnel who will offer a full range of purchase, refinance, renovation and construction loan options.The new full-service home loan center is operating under the name “AmeriTrust Home Mortgage,” to avoid confusion with Amerifirst Financial, Inc., which also operates in the southwest region.Bergum joins an organization comprised of over 600 professionals aimed at expanding homeownership opportunities, improving local communities, and making a meaningful difference in the lives of others. “I am excited and proud to be part of such an amazing company,” said Bergum. “We are fortunate to have recruited an incredibly talented team here in Southern California who is dedicated to delivering the same excellent customer experience for which the organization is known.” center_img April 2, 2018 550 Views in Headlines, journal, News, Originationlast_img read more

Mortgage Risks Rise

first_img Share Mortgage Risks Rise The latest American Enterprises Institute Housing Market Indicators released its data on October 2018 with a focus on the National Mortgage Risk Index. The report released on January 28, includes data on mortgage risk, house price appreciation, and home sales. The report found that mortgage risk jumped in October with all indices setting new series’ highs for the month. The composite Purchase National Mortgage Risk Index (NMRI) recorded an increase of 0.4 percentage points from Oct. 2017. Federal Housing Administration (FHA) index set a new series’ high at 28.2 percent. Refi NMRI  also set a new series’ high primarily due to a higher Cash-Out Refi NMRI, it indicated. According to AEI data, the higher NMRI indicates that agencies continue to increase leverage to maintain levels of mortgage activity and in furtherance of their “affordable housing” mission. The report noted that FHA continues to loosen and Fannie’s purchase risk index in Oct. 2018 at 1.4 percentage points outpaced that of Freddie’s. The report also pointed out that over the last 3 years, a shift towards higher DTIs has primarily driven the NMRI higher. “Reports of the end of current housing boom are exaggerated,” said Tobias Peter, Senior Research Analyst at AEI’s Center on Housing Markets and Finance. “Inventories remain mostly tight, especially for entry-level homes, access to credit continues to be expanding, especially for first-time buyers, and mortgage rates have recently fallen below 4.5 percent again. All this points to a continuation of the boom at lower price points,” he added. Shedding light on FHA lending, the report found that FHA’s credit box is wide and therefore credit for entry-level buyers is not tight. FHA continues to add high-risk borrowers with their risk index climbing through risk layering. Compared to 2017, the agency purchase volume declined this October. A decline of 3.9 percent was recorded in purchase volume by count compared to 2017—a rise in volume from 37 percent in October 2013. The report attributes the decline to the increase in mortgage rate to over 4.5 percent earlier in the year.Per AEI Housing Market Indicators, maintaining purchase volume continues to be reliant on further agency credit easing— seen as needed to offset headwinds from gradually rising interest rates as a result of a slightly less accommodative monetary policy, and rapid home price increases. “FHA’s and the Bureau of Consumer Financial Protection’s pro-cyclical policies are continuing to drive home prices higher for entry-level buyers and are exposing buyers to an unsustainable home price boom,” noted Edward Pinto, Codirector of the AEI’s Center on Housing Markets and Finance. “As these policies since late-2012 have needlessly driven up low price tier homes by an additional $23,000, it is time both took counter-cyclical steps to protect homebuyers,” he added.Read the full report here. in Daily Dose, Featured, Market Studies, News, Origination, Servicingcenter_img January 28, 2019 1,302 Views American Enterprise Institute American Enterprises Institute Housing Market Indicators Edward Pinto Mortgage Rates Tobias Peter 2019-01-28 Donna Josephlast_img read more

Greenyard sells Hungarian facility

first_img Greenyard sells Hungarian facility … Greenyard explains it intends to adapt its organisation to reflect this transformation, saying that revitalisation of volumes and margins, a rational footprint optimisation, improved cost management and operational excellence are the cornerstone of this model-shift which would result in a “leaner organisation”.”The various initiatives will allow Greenyard to structurally benefit from its economies of scale derived from its pan-European footprint. They are expected to further strengthen its logistics, supply chain, with a focus on control over indirect spend, its core activities and an adapted organisation,” it said.Greenyard is expecting the plan to deliver a REBITDA improvement of €20 million for 2019-20 and €44 million of cumulative REBITDA improvement for  2020-21.It said 422 jobs will potentially be impacted by the Transformation Plan, spread over different countries, but primarily in its Fresh division in the U.K. and Germany.  March 15 , 2019 You might also be interested in Greenyard in “full swing” to implement recovery pl … center_img Greenyard’s fresh sales struggle in Q3 amid “fierc … Belgium-based multinational Greenyard says it has developed a “comprehensive Transformation Plan” in response to “continuing market pressure”, which had led it to reduce its REBITDA guide for the year to €60-65 million.It anticipates this plan will help it to “unlock large untapped potential for a healthy future”.”The Transformation Plan consists of immediate, short and longer-term actions, both at group and divisional level,” the company said. “It will enable Greenyard to accelerate the shift of its organisation to a partnership model in which Greenyard positions itself as a vertically integrated partner for its customers, the retailers.” Greenyard profits at upper end of guidance followi …last_img read more

switzerland

first_imgswitzerland Switzerland Tourism has launched its 2017 (northern) summer campaign with three ‘Back to Nature’ themes – My Swiss Experience, Wildlife Watching, and Alpine Huts.Director of Switzerland Tourism AU & NZ, Mark Wettstein says the themes address the growing interest and demands from travellers when visiting Switzerland. “While many of our visitors are well acquainted with Switzerland’s no-filter-required picturesque landscape as well as the cheese, chocs and clocks, interests in other authentic experiences are growing.“Travellers are looking for new and different activities, knowledge and involvements to enhance their journey and itineraries; and getting to know or interacting with locals to learn about their ways of life is a major appeal.”Aussie and Kiwi visitors to Switzerland have been consistent over the past three years, with year-on-year growth averaging 4%. The first quarter of 2017 alone has seen a 14% increase in AU & NZ overnights in the country. (Total overnights from AU & NZ in 2016 was 323,000).According to Wettstein, the country’s ongoing success in gaining numbers is its wide appeal to the many different niche interests among travellers today; and this is reflected in the tourism body’s continuous marketing efforts to focus on emerging trends. My Swiss ExperienceExplore the country and regional diversities via various experiences and encounters, both new and old hosted by locals. Travellers researching online will find more than 700 suggestions, all of which are listed and searchable via categories including interests, regions, duration, seasons and other filters.Wildlife WatchingAnimal lovers can experience a range of encounters with Swiss wildlife. More than 100 day packages (ranging from 1 – 7 hours) are available, where accompanied by professional guides, visitors will get to see and learn about the behaviours of the likes of ibexes, chamois, vultures, beavers and many other species in their natural habitat. Visitors can be assured that all tours are committed to the protection of wildlife and environment.Alpine HutsStay close to nature and away from the hustle and bustle of city life. For the very first time, travellers have direct access to traditional alpine huts that have been used for generations as summer residences by local cheese makers or shepherds and their animals. While some huts have been luxuriously refurbished, most huts remain in their original form without mod-cons such as dishwashers, hot tubs, cable TV or broadband. As such, visitors are encouraged to truly detach themselves from their modern-day lifestyle and reconnect with the natural surrounds. Simply put, “Nature wants you back!”last_img read more

Etihad Airways has launched its first ever schedul

first_imgEtihad Airways has launched its first ever scheduled flights linking Australia and Barcelona, via Abu Dhabi. EY49, departed Abu Dhabi yesterday morning (Thursday 29 November 2018) carrying a special delegation including dignitaries, media representatives, influencers and senior members of Etihad Airways’ management team.The UAE national airline is celebrating the occasion in style by hosting a special event held at the historic Capella dels Angels, a sixteenth-century Gothic building which is now part of the Museu d’Art Contemporani de Barcelona (MACBA), attended by leading figures from the local government, diplomats, media, corporate partners and travel trade.Tony Douglas, Group Chief Executive Officer Etihad Aviation Group, said: “We have been tremendously excited about the launch of this service and what better time to arrive in Barcelona than the month Etihad celebrates its 15th anniversary.” airlinesaustraliaBarcelonaEtihadSpainlast_img read more

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first_img 0 Comments   Share   Tyler Bassett wants to go Lee Corso and say — not sofast. Adam Green thinks the Cards should not turntheirback such good, ummm, luck. Instead of disagreeing whilesitting in their (neighboring) cubicles they decided todo it through email. Tyler’s up first. With the Arizona Cardinals at 1-6 and losersof six straight, you almost have to mention thepossibility that the team that could end up with the No. 1overall pick come next April. Under the assumption AndrewLuck puts his name in the draft, he’ll be the favorite tobe taken with that selection. Hell, he was last yearbefore the 2011 draft even started. TylerIF the Arizona Cardinals end up with the No. 1 pick nextApril they should not take Andrew Luck with the pick ifthey are going to keep Kevin Kolb on the roster. The teaminvested way too much money in Kolb this past season togive up on him after one year. Yes, if you draft Luck youhave given up on Kolb. A team can’t trade for a“franchise” QB and give him $21 million guaranteed —$63.5 overall, trade a good cornerback (DRC) and a second-round pick and put him on the bench after one year. It’sbad business and bad investing. You gave up — and gavehim — a whole lot and it’s the guy you are stuck with forthe foreseeable future. Andrew Luck should not be anArizona Cardinal no matter what. They have way too manyother holes to fill.AdamFirst, let me preface this by saying I don’t think theCards will land the top pick in the draft. They may suck,but not enough to land Luck. However, if they wereselecting first overall it would mean one very simplething: Kevin Kolb stunk. That being the case, why wouldyou pass on the most sure-thing QB the league has seencome out of college in decades just to get another year ofKolb? At 27 the guy may not have much more room toimprove, and it’s fairly likely what you see now is whatyou’ll get three years from now. Did the Cardinals give upa lot to get Kolb? Absolutely. But don’t compound onemistake by making another. Admit you were wrong and behappy it only cost you a shaky corner, a high pick and asigning bonus and not the franchise’s next decade offootball. Nevada officials reach out to D-backs on potential relocation Top Stories center_img D-backs president Derrick Hall: Franchise ‘still focused on Arizona’ TylerI disagree that them getting the first pick means KevinKolb stunk. It certainly doesn’t say he played well butthis team is a roster full of issues right now. I don’tthink the QB position is one of their biggest needs. Ilike Luck, but with all rookies I won’t sit here and sayhe’s a sure thing. Even saying the most-sure thing indecades doesn’t sway me. I would much rather see a lefttackle that could protect and help Kolb’s mental statewhen he drops back or a guy coming off the edge with thespeed of a safety and the reach of a power forward. Afterwatching seven games I think this team can succeed withKolb at QB (I don’t see another nine completely changingmy mind, not with all the other holes). I only think he’llcontinue to get better (injury may prevent that for a fewweeks). Give him this entire season, plus a full off-season and a full season with that off-season to build offof. With what the Cardinals did to make it happen thispast August plus their other holes, it makes the mostsense. AdamI’ll grant you the Cardinals have plenty ofissues, with some maybe even being worse than QB. However,if there is one thing we’ve learned the last couple ofyears it’s that a great quarterback can make up for a lotof problems. Kurt Warner had the Cardinals in the playoffsand without him they are the worst team in the NFC West.The Colts are a perennial playoff team, take away PeytonManning and they may not win a game. An accurate QB whocan read a defense and get the ball out quickly willneutralize a bad offensive line and a QB who can putpoints on the board will help his defense look adequate.The point is you cannot win without an elite QB unless youhave a dominant defense and running game, and theCardinals are quite a few pieces short of having either.While there are no guarantees Andrew Luck will be great,all signs (minus Phil Simms) point in that direction. Plughim into this offense and watch the team magically becomegood again. What an MLB source said about the D-backs’ trade haul for Greinke Cardinals expect improving Murphy to contribute right awaylast_img read more

LaRod StephensHowling is expected to receive the

first_imgLaRod Stephens-Howling is expected to receive the bulk of the carries at running back for the Arizona Cardinals this week against the Buffalo Bills.Stephens-Howling, who scored the first touchdown of the season in Week 1 against the Seattle Seahawks, finds himself moving up the depth chart after Beanie Wells and Ryan Williams went down with injuries. After missing the last two weeks with a hip injury, Stephens-Howling does not seem fazed by the idea of getting more carries and says that past success, like his Week 17 start last season against the Seattle Seahawks, has helped his confidence. Derrick Hall satisfied with D-backs’ buying and selling Former Cardinals kicker Phil Dawson retires Grace expects Greinke trade to have emotional impact “It’s just a regular work week preparing to get most of the load,” Stephens-Howling said. The Cardinals currently have the 30th ranked rushing attack in the NFL, but he knows that needs to change.“We definitely need to get the running game going,” Stephens-Howling said. “It will help out [quarterback Kevin Kolb] and the passing game a lot.”Stephens-Howling has seldom been the feature back during his NFL career, but Cardinals center Lyle Sendlein thinks the 5-foot-7, 185 Pittsburgh alum is more than just a situational player. “He is a guy that people might call him a ‘scat back,’” Sendlein said. “But if you ask him, he will tell you he is an every down back and we believe he is.”Sendlein likes that Stephens-Howling is someone who has been with the team for a while and knows the offense.“He knows our protections, he knows how to set upblocks,” Sendlein said. “It is nothing like preparing someone who hasn’t done it before.”Sunday’s game against the Bills will mark the first time Stephens-Howling sees a significant workload since his confidence building Week 17 game of last year. Head coach Ken Whisenhunt liked what he saw in that game and hopes that the 25-year-old can build off that performance. 0 Comments   Share   “The last time I saw LaRod as a starter, he went for 92 yards against Seattle’s defense,” Whisenhunt said. “I am hopeful that he can get that extra eight yards this week.” The 5: Takeaways from the Coyotes’ introduction of Alex Meruelo Top Stories last_img read more

When looking at NFL prospects every night things c

first_imgWhen looking at NFL prospects every night things can start to run together. I mean, I like to watch groups of positions so I am able to jot down notes, scribble out my thoughts and produce a “grade” of sorts. My grades are where I would feel comfortable drafting a player, and as you go through you always wait to have that moment of “wow!”Well, when you watch Ezekiel Ansah play on defense there are times you say “wow!” Now, I will say that those plays aren’t always good — in fact, a lot of them leave you scratching your head. But he’s coming to visit the Arizona Cardinals and he is a guy who can be a weapon on defense. Here’s a closer look at Brigham Young defensive end Ziggy Ansah. The GoodAnsah the FreakWhen they build a prototype defensive end, they would use Ansah’s measurements.Ezekiel measures in at 6-foot-5, 271 pounds, with an arm length of 35″. He clocked a forty time of 4.63 seconds, but more importantly his 10-yard split in the forty was 1.56 seconds.His frame is long, he is well put together, and shows room to add bulk that shouldn’t slow him down.Ansah displays a first step that would rival anyone’s in the draft, and when you put the package together you see a player that could easily rival or surpass any prospect in terms of upside.Flashes productionAnsah is young in his development as a football player, but shows an interesting and rare combination of power and quickness that allows him to play on the edge as either a defensive end or standing up as an outside linebacker.When playing as a 3-4 defensive end, Ansah showed an ability to not just use his speed to rush the passer or penetrate and chase down the ball carrier, but to also consistently drop his pad level and anchor against the run. Top Stories 0 Comments   Share   When he is asked to stand up as a 3-4 OLB he looks comfortable in changing direction — albeit a little stiff — but I attribute that to indecision more than not being flexible, and shows a good burst in the pass rushing game.Ansah is a sound tackler in form, using his long arms to wrap up and drag down, but doesn’t always bring his lower half with him in tackles which could present a problem as he gets into the league.The BadNeeds timeWhen you say a player is raw, you think of a guy like Ezekiel Ansah.He’s only played football for three years at BYU, and only started nine games in his senior season.He needs to learn how to use his advantages outside of his speed and power. Too often he initiates contact with his body instead of his hands, and in the NFL he will be stoned more often than not when he does that. People keep talking about this athlete lining up outside as a linebacker and being the answer to the Cardinals’ missing pass rush, but I don’t see that.I mean, he can obviously stand up at times and be effective, but in my opinion I see Ansah as something else.There was one play that Ansah made versus Idaho that stuck with me more than any other in all the film I watched on him, and it was when he was lined up as a 3-4 defensive end. He did that by getting into the blocker with a quick jolt and then stacking them up and using his length to keep the blocker away from his body, before shedding the block and attacking the ball carrier. Derrick Hall satisfied with D-backs’ buying and sellingcenter_img I watched Ansah penetrate through the tackle, guard gap, move down the line and decapitate the running back. I thought to myself, “that’s what I would want Ansah to be in my defense.”A one-gap 3-4 defensive end — that allows him to penetrate, attack and keeps his responsibility at a minimum.I see a guy who could come in and play in a rotation at defensive end and even some time at outside linebacker, but could eventually take over the full time duties from Darnell Dockett and flourish.Is that something fans would be happy with, though? Is the seventh pick too early for a part time 3-4 defensive end/outside linebacker until he filled out and developed into a full-time starter? When he gets knocked out of a play he struggles to get back into proper position to make an attempt at the ball carrier or quarterback, and will often let his blocker use his own momentum to take him out of the picture.Ansah admittedly got winded as games progressed, and when he was stoned on pass rushes would rely on standing and just trying to deflect passes, which with his long arms and good jumping ability actually worked quite well.The AnsahWhere does he play?One of the things I kept battling with as I’ve watched Ansah over the last couple of months was where would I line him up if the Cardinals drafted him?He played as a defensive end, outside linebacker and nose tackle in the 3-4, but is built more like a 4-3 defensive end right now.How would he fit in with the Cardinals? He doesn’t have the look of an elite pass rusher right now from the outside linebacker position and he looks uncomfortable dropping into coverage, so you aren’t drafting him to play as a situational pass rusher or as an every down linebacker in the 3-4 right away.OverallWhen I watch Ansah play, I kept trying to imagine him in Cardinal red, and admittedly was missing the fascination. If Ansah learns to use his arms/hands to keep blockers at bay more consistently and then shed them, he could become an unstoppable force. But he struggles disengaging from good blockers.The biggest issue with Ansah right now is how he handles the little stuff.He takes on blocks with the wrong shoulder, and then is taken completely out of plays unless they come back his way. The 5: Takeaways from the Coyotes’ introduction of Alex Meruelo Former Cardinals kicker Phil Dawson retires Grace expects Greinke trade to have emotional impactlast_img read more

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first_img Comments   Share   Derrick Hall satisfied with D-backs’ buying and selling Top Stories D.J. was good, depending on who you askOne of the bigger story lines this camp is the progression of second-year pro D.J. Humphries, last season’s first-round pick who was inactive for every game but is penciled in to be the starting right tackle this year.Friday was his first significant game action since last preseason, and while he appeared to get beat on some plays, it did not appear as though anything he did poorly was catastrophic.Arians said he thought Humphries “played extremely well” from what he was able to see, adding that they ran the ball pretty well when heading in the right tackle’s direction.QB Carson Palmer agreed with his coach’s assessment, saying Humphries “looked really good.”“Khalil (Mack) is probably the second best pass rusher in the league already and to go out against him in your first time at home when you’re jacked up, I think it took him a little bit to settle down,” he said. “He said he was really amped up and I thought he really did a good job.”Humphries admitted his personality is such that he gets excited, which can work against him at times. He said there are some bad plays from Friday that will stick in his mind. Add in the fact that the final score matters so very little, and you have a rather difficult night to try and assess.That said, the Cardinals did share some thoughts following their 31-10 loss to the Oakland Raiders, and below are some of the notes worth highlighting.Good players played wellCoach Bruce Arians seemed pleased with his first teams, both offense and defense.“I liked the way we started,” he said. “I thought our good players played well. We got them out quickly, they were successful. Showed up ready to play.”To that end, QB Carson Palmer was 3-of-5 for 38 yards, David Johnson gained 31 yards on three carries, Chris Johnson totaled nine yards on three runs and Michael Floyd gained 30 yards on his one reception.Defensively, the starters surrendered a first down, but not much else.From there it was no doubt a mixed bag. Arians said he thought there were some good individual performances from some of the younger players, but noted the collective result wasn’t particularly great.Asked about the idea that the team’s good players were the ones that played well, defensive lineman Calais Campbell laughed.“For the starters, we were out pretty quick,” he said. “On defense, I mean, it wasn’t a three-and-out but they made a first-down completion real quick, and then we shut them down, made them punt. Then we were done.” Arizona Cardinals running back David Johnson (31) runs in the open field as he gets past Oakland Raiders’ Ben Heeney (50) during the first half of an NFL preseason football game Friday, Aug. 12, 2016, in Glendale, Ariz. (AP Photo/Ross D. Franklin) Former Cardinals kicker Phil Dawson retirescenter_img Arians seemed especially miffed at the formation problems, noting that it’s a thing that should be learned in high school.“You can read a wristband, it ain’t real hard,” he said.Barkley was in the locker room after the game, but had no time to stop and chat because his wife was going into labor.For Campbell, it’s no fantasyMixed into Campbell’s answer about the team’s good players playing well was his thoughts on Carson Palmer, who he said looked good, and David Johnson, who he said was “definitely going to be my first pick in fantasy football this year because he looked amazing.”Campbell said he could not remember who he took first overall last year, but remembered earning some ridicule for nabbing Johnson in the fourth or fifth round.“And then he turned out to be a crucial piece to my championship run,” he said. “I did win a championship — insider information, I don’t know. My team was full of Cardinal players.”And yes, that includes the defense for which he plays.“Oh yeah,” he said. “I usually take the defense pretty high, too. Some people — I’ve been doing it with my family a lot of years — they try to take them early just because they know I really want them so they try to trade me later, but I’m strategic about my game plan.” “I know I’ve got to come out and not over-set on guys that have great inside moves,” he said. “Just come out and I watched enough film, I knew what I was going to get. I got so excited, I just kind of got out there and was like ‘I want to put my hands on this guy’ and it doesn’t work out like that; you can’t play like that. You’ve got to play sound to your technique and let the game come to you.”Still just 22 years old, Humphries said he began to get more comfortable as the night wore on, and he is confident that he’ll be “pumping on all cylinders like I’m supposed to” by the end of the preseason.Matt Barkley’s performanceFor Cardinals fans, Friday was the first opportunity to see QB Matt Barkley running the team’s offense in a game. To say his night was a rough one would not necessarily be inaccurate, though, at the same time, there are factors beyond the QB’s control that could have led to some poor statistics.In all, Barkley completed 8-of-24 passes for 121 yards with one interception.“Good and bad and ugly,” Arians said of his performance. “He had some really nice throws; forgot to send a motion on three plays in the formations for his receivers, so we didn’t have a play. But other than that, he did make some nice — he can make every throw, it’s just some of those little things he’s got to clean up.” Grace expects Greinke trade to have emotional impact GLENDALE, Ariz — There are certain things one should look for in a preseason game, but the truth is, the only people who can really judge most performances are the coaches.They know where players are supposed to be; they know if someone played well or not.That’s not to say one cannot tell certain things, like if a receiver drops a pass or a defensive player misses a tackle, but really, there is plenty we really, truly cannot understand or make declarations from. The 5: Takeaways from the Coyotes’ introduction of Alex Meruelolast_img read more

On Saturday February 4 the Pro Football Hall of

first_imgOn Saturday, February 4, the Pro Football Hall of Fame selection committee will decide on who will make up its class of 2017.Kurt Warner is among 18 finalists who are up for enshrinement, and we here at Arizona Sports wanted to take a look back at his storybook career as well as the impact he had on the Arizona Cardinals.In the second installment of “Kurt: A Retrospective Video Series,” we talk about our favorite moment of his Cardinals tenure. Derrick Hall satisfied with D-backs’ buying and selling Comments   Share   – / 29 The 5: Takeaways from the Coyotes’ introduction of Alex Meruelocenter_img Top Stories Former Cardinals kicker Phil Dawson retires Grace expects Greinke trade to have emotional impactlast_img read more

The 5 Takeaways from the Coyotes introduction of

first_img The 5: Takeaways from the Coyotes’ introduction of Alex Meruelo Top Stories The Arizona Cardinals quarterback bucket challenge has seen its fair share of unique and in this case, groovy costumes.The loser this week was apparently quarterback Matt Barkley, who was seen wearing the same “hippie” costume former Cardinals quarterback Mike Bercovici was seen wearing in Week 9.Luckily for Barkley, he is used to the embarrassment. Back in 2015, Barkley’s first stint with the Cardinals, he lost the challenge and was forced to “streak” while warming up. We have to agree that the Gatorade towels tailored to resemble chaps was a nice touch. Clearly Matt Barkley is on the wrong side of a USC bet? pic.twitter.com/OXGWu2wqnO— Alex Flanagan (@Alex_Flanagan) November 22, 2015Cardinals starting quarterback Blaine Gabbert found joy in Barkley’s outfit this week, as he was seen laughing and snapping a picture before the Cardinals’ matchup with the Tennessee Titans. 0 Comments   Share   center_img Former Cardinals kicker Phil Dawson retires Derrick Hall satisfied with D-backs’ buying and selling Grace expects Greinke trade to have emotional impactlast_img read more

Kerwynn Williams RB Ribs Limited Full Full —

first_imgKerwynn WilliamsRBRibsLimitedFullFull— Former Cardinals kicker Phil Dawson retires Frostee RuckerDLNot injury relatedDNPFullFull— Grace expects Greinke trade to have emotional impact A.Q. ShipleyCShoulderLimitedFullFull— J.J. NelsonWRKneeLimitedLimitedLimitedQuestionable The 5: Takeaways from the Coyotes’ introduction of Alex Meruelo Larry FitzgeraldWRNot injury relatedDNPFullFull— The AFC South-leading Tennessee Titans bring their 8-4 record to the desert where they will face the Arizona Cardinals (5-7) Sunday at University of Phoenix Stadium.Below is the official Week 14 NFL injury report for both teams. Rishard MatthewsWRHamstringLimitedFullFull— PlayerPositionInjuryWednesdayThursdayFridayGame Status Delanie WalkerTEAnkleDNPDNPFull— Josh MauroDLAnkleLimitedDNPLimitedQuestionable Daily Practice Designations:DNP-Did Not ParticipateLimited-Limited Participation (Less than 100% of normal repetitions)Full-Full Participation (100% of normal repetitions)Game Status Designations:Out-Will not playDoubtful-Unlikely to playQuestionable-Uncertain if player will play John BrownWRToeDNPLimitedDNPOut Justin DrescherLSShoulderLimitedFullFull—center_img Jaron BrownWRKneeLimitedLimitedFull— Adrian PetersonRBNeckDNPDNPDNPOut PlayerPositionInjuryWednesdayThursdayFridayGame Status Derrick MorganLBKneeDNPDNPDNPOut Logan RyanCBConcussionDNPFullFull— Patrick PetersonCBHamstringLimitedDNPLimitedQuestionable Jared VeldheerTElbowDNPDNPLimitedQuestionable Derrick Hall satisfied with D-backs’ buying and selling 2 Comments   Share   Troy NiklasTEHip/kneeLimitedFullFull— Top Stories Corey PetersDLAnkleDNPLimitedLimitedQuestionable Deone Bucannon$LBAnkleLimitedFullFull— Karlos DansbyLBNot injury relatedDNPFullFull—last_img read more