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Wednesday, July 23, 2014

Thursday: New Home Sales, Unemployment Claims and More

by Calculated Risk on 7/23/2014 08:16:00 PM

The scams never end, and this one was really disgusting (ripping off people in financial trouble) ... from the LA Times: Authorities crack down on mortgage-relief scams nationwide

Federal and state officials filed lawsuits accusing dozens of companies of ripping off struggling homeowners by falsely promising help in avoiding foreclosures or lowering mortgage payments while collecting millions of dollars in illegal upfront fees.
The Consumer Financial Protection Bureau said three suits it filed against eight companies and their owners involved scams that cost homeowners more than $25 million in illegal upfront fees for services such as renegotiating mortgages or preventing foreclosures.
• At 8:30 AM ET, the initial weekly unemployment claims report will be released. The consensus is for claims to increase to 310 thousand from 302 thousand.

• At 10:00 AM, New Home Sales for June from the Census Bureau. The consensus is for a decrease in sales to 475 thousand Seasonally Adjusted Annual Rate (SAAR) in June from 504 thousand in May.

• At 11:00 AM, the Kansas City Fed manufacturing survey for July.

• During the day, the NMHC Quarterly Survey of Apartment Conditions.