Saturday, January 24, 2015

Americans to Eat 1.25 Billion Chicken Wings for Super Bowl

With the second biggest eating day of the year after Thanksgiving upon us – Super Bowl Sunday – there's no hotter time of year for chicken wings, which have become a staple food on Super Bowl menus.   
According to the National Chicken Council's 2015 Wing Report released today, 1.25 billion wings will be eaten during Super Bowl XLIX, as fans watch the Seattle Seahawks and New England Patriots battle for the Lombardi Trophy, matching the record tied last year when the Seahawks defeated the Denver Broncos.  
To put that into perspective, if 1.25 billion wing segments were laid end to end, they would stretch back and forth from CenturyLink Field in Seattle to Gillette Stadium in Foxborough, Massachusetts… almost 28 times.  With the Super Bowl being played in Arizona, 1.25 billion wings would circle the Grand Canyon 120 times.  That is enough wings to put 572 wings on every seat in all 32 NFL stadiums, according to the Council.    
In terms of weight, 1.25 billion wings would weigh 5,955 times more than the weights of the Seahawks and Patriots entire 52-man rosters combined. 
"Although the total amount of pounds of chicken produced last year rose by about 1.8 percent, the total number of chickens processed was virtually the same in 2014 as is was in 2013," noted National Chicken Council Vice President of Communications Tom Super.  "A chicken only has two wings; therefore, the supply of wings is limited by the total number of chickens produced."
The average price (wholesale, not retail) of whole wings is currently $1.71/lb, up from $1.35/lb at the same time last year, according to the Daily Northeast Broiler/Fryer Report by the U.S. Department of Agriculture's Agriculture Marketing Service.  This is down significantly from when wing prices hit a record high of $2.11/lb in January, 2013. 
Wing prices traditionally go up in the fourth quarter of the year as restaurants and supermarkets stock up for the Super Bowl, and prices usually peak in January during the run-up to the big game. 
Wing Eating among NFC-AFC Championship Cities
While Seattle is known for many things, including its coffee, fish tossing and Fortune 500 companies, chicken wings aren't one of them. 
Residents of Seattle tend to punt on chicken wings, as they are 17 percent less likely to eat chicken wings in general than the average resident of the top 42 U.S. markets, according to The NPD Group's Local Market CREST Restaurant database; two years ending September 2014.  While faring a bit better, but still below average, Patriots fans in Boston are 8 percent less likely to consume wings from a restaurant than the average resident.
But the Seahawks-Patriots matchup was the best possible scenario out of the four remaining NFL playoff teams/cities for wing eating.  Here' a look at how the four stack up:
  • Boston: 8 percent less likely to eat chicken wings in general than the average resident
  • Seattle: 17 percent less likely to eat wings
  • Indianapolis: 32 percent less likely to eat wings
  • Green Bay: 39 percent less likely to eat wings
"The good news is, fans will try more wings if their team gets in the Super Bowl," noted Harry Balzer, The NPD Group's chief industry analyst and vice president. "We know wing consumption increases more than other foods during the Super Bowl.  It did in Seattle last year after they won.  While the citizens of Seattle still eat wings less often than the average eater, our research indicates that order incidence for wings rose considerably last year in that market." 
Added the Chicken Council's Super, "With the Patriots in the game, we're hopeful this trend will continue and we'll see 'inflated' wing consumption this year in New England." 
Super Bowl Fans Choose Sides
The data shows that more than four in five U.S. adults (81 percent) eat chicken wings, holding steady from last year. 
More than half (56 percent) of U.S. adults who eat chicken wings say they typically like to eat their wings with ranch dressing, according to a new National Chicken Council poll conducted online in January 2015 by Harris Poll*.  Ranch is once again the #1 side or sauce typically eaten with wings, up from 51 percent last year but shy of the record of 57 percent two years ago.  Only about one-third (36 percent) like to eat their wings with blue cheese dressing.  This is up from 32 percent last year.  Barbecue sauce even topped blue cheese, coming in at 42 percent. 
The survey asked which dipping sauces or snacks chicken wing eaters typically like to eat with their wings. They could choose more than one option. 
Northeastern wing eaters are significantly more likely to prefer blue cheese dressing (49 percent) than those in the Midwest (36 percent), South (30 percent) and West (30 percent), while those regions are more likely to prefer ranch dressing. 
"I was shocked to see Blue Cheese go down by this margin, again," noted Super.  "Although, I'm from the Northeast – for me, putting Ranch on wings is like putting ketchup on a hot dog."
After ranch dressing at the top:  42 percent of wing lovers choose barbecue sauce as a typical snack or dipping sauce; 36 percent said blue cheese; 36 percent hot sauce; 35 percent celery; and 20 percent choose carrots. Ten percent of wing lovers describe themselves as purists who eat nothing with their wings.  
Bone-in or Boneless? 
With the growing popularity of "boneless wings," NCC asked wing eaters if they prefer to eat traditional, bone-in wings or boneless wings.  According to the survey, 54 percent of wing eaters prefer traditional, bone-in wings while 46 percent chose their boneless cousin.  Boneless wings are typically white, boneless chicken breasts cut into strips, breaded or floured and tossed with Buffalo sauce.   
The Drumette, Flat or Whole Wing?
The vast majority of wings, especially those destined for restaurants, are disjointed, with the third joint (the thin part known as the wing tip or flapper) being exported to Asian countries and the meatier first and second joints being sold domestically.  The wing is usually split into two parts – or segments – known as the "drumette" and the "flat" and sold to restaurants or retail grocery outlets.  (For a picture of the wing parts, click here.)
According the survey, of those who eat chicken wings, 46 percent prefer the drumette, 25 percent the flat and 10 percent prefer their wings whole.  Nineteen percent say they don't have a preference, they like them all.
For more information on wings, including their history, relationship with football, recipes and more, visit the National Chicken Council website for the full 2015 Wing Report.   

Friday, January 23, 2015

Four Tips to Hack Holiday Clearance Online

FatWallet.com, where millions of online deal hunters go to stack deals and coupons with cash back, presents early-bird shoppers with a one-stop resource to compare after Christmas clearance sales and deals. Dozens of e-tailers will launch their holiday clearance sales early online starting Christmas day, before physical stores reopen again onDecember 26. Savvy FatWallet shoppers will look to get a head start and stack clearance deals with increased cash back from stores like Home Depot, Sears, Newegg, Amazon, eBay and American Eagle.
"The majority of seasonal items that see significant price-reductions will sell out fast, so timing is essential when navigating holiday clearance," said Brent Shelton, FatWallet shopping expert. "Early bird shoppers know retailers launch most online sales ahead of in-store events and will begin looking for these deals online on Christmas night."
Four tips to help shoppers hack holiday clearance and New Year's Deals to find the optimum savings:
1. Stack savings ops:  Look to combine clearance pricing with coupon codes, store-wide discounts or free shipping offers. The add on increased rewards during FatWallet's annual Holiday Cash Back Sale which runs through to the end of December.
2. Get a head start:  Stores start tagging items for clearance Christmas week. Gift wrap, bags, bows, decorations, party supplies, candy, food, beverages and household items that were packaged in with holiday branding can be bought for 50-75% off. Scan Fatwallet's Today's Best Deals for up-to-the-minute specials.
3. Strength in numbers:  FatWallet's Hot Deals forum is home to thousands of the savviest deal hunters online who share current "steals" and members add insider information on how to make them even better. Set instant notifications so you know when the best clearance deals are shared as they can sell out within hours.
4. Avoid out-of-season items:  Tech products (HDTVs, cameras, laptops, tablets, and smartphones) will see better prices after the new year through to March, especially for TV deals which will see the best prices of the year on higher quality models leading up to 2015 Super Bowl parties.

Thursday, January 22, 2015

2015 Economic Outlook: Economy Drags Housing Upward

 Driven by strengthening private domestic demand, economic growth is expected to accelerate modestly this year and drag last year's unspectacular housing activity upward, according to Fannie Mae's (OTC Bulletin Board: FNMA) Economic & Strategic Research (ESR) Group. Amid continued low gasoline prices, firming labor market conditions, rising household net worth, improving consumer and business confidence, and reduced fiscal headwinds, the economy is expected to climb to 3.1 percent in 2015, up from the Group's estimate of 2.7 percent in the prior forecast. The stronger economic backdrop should lead to improving income prospects, underpinning a higher rate of household formation in 2015.
"Our theme for the year, Economy Drags Housing Upward, implies that both housing and the economy will pick up some speed in 2015, but that the economy will grow at a faster pace," said Fannie Mae Chief Economist Doug Duncan. "We have revised upward our full-year economic growth forecast to 3.1 percent for 2015, which is not yet robust but still an improvement over last year's growth. Consumer spending should continue to strengthen due in large part to lower gas prices, giving further support to auto sales and manufacturing. We believe this will motivate the Federal Reserve to begin measures to normalize monetary policy in the third quarter of this year, continuing at a cautiously steady pace into 2016 and 2017, likely keeping interest rates relatively low for some time."
"Strength in the broader economy, accompanied by continued employment growth and meaningful income growth, should contribute to some improvement in housing activity this year," said Duncan. "Given historically low mortgage rates and a gradual easing of lending standards, our forecast calls for a 5.8 percent increase in total home sales for the year. Most of that is likely to come from growth in existing home sales, but we expect the rising share of new home sales to lead to a healthy increase in single-family construction of about 19 percent, or 765,000 units. Although we don't view this as signaling a breakout year for housing, we do expect to see broad-based improvement in 2015 following a disappointing and uneven year for the housing recovery in 2014."
Visit the Economic & Strategic Research site at www.fanniemae.com to read the full January 2015 Economic Outlook, including the Economic Developments Commentary, Economic Forecast, Housing Forecast, and Multifamily Market Commentary.

Mortgage Rates Inch Higher

ortgage rates marked a slight increase this week, with the benchmark 30-year fixed mortgage rate rising to 3.81 percent, according to Bankrate.com's weekly national survey. The 30-year fixed mortgage has an average of 0.25 discount and origination points.
To see mortgage rates in your area, go to http://www.bankrate.com/funnel/mortgages/.
The average 15-year fixed mortgage climbed to 3.18 percent while the larger jumbo 30-year fixed mortgage inched to 4.01 percent. Adjustable rate mortgages were mixed, with the 5-year ARM jumping to 3.19 percent and the 7-year ARM holding steady at 3.31 percent, the lowest since June 2013.       
Mortgage rates moved up slightly in the past week, but remain at among the lowest levels since May 2013. Financial markets continue to be gripped by worries about the global economy, with terrorism and unrest only adding to the concerns. Those concerns, coupled with the expectation of quantitative easing from the European Central Bank, are keeping bond yields and mortgage rates at very low levels. Mortgage rates are closely related to yields on long-term government bonds.
One year ago, the average 30-year fixed mortgage rate was 4.57 percent. At that time, a $200,000 loan would have carried a monthly payment of $1,021.71. With the average rate now at 3.81 percent, the monthly payment for the same size loan would be $933.05, a savings of approximately $89 per month for anyone refinancing now.  
SURVEY RESULTS
30-year fixed: 3.81% -- up from 3.80% last week (avg. points: 0.25)
15-year fixed: 3.18% -- up from 3.11% last week (avg. points: 0.19)
5/1 ARM: 3.19% -- up from 3.09% last week (avg. points: 0.19)
Bankrate's national weekly mortgage survey is conducted each Wednesday from data provided by the top 10 banks and thrifts in the top 10 markets.
For a full analysis of this week's move in mortgage rates, go to http://www.bankrate.com/mortgagerates.

Friday, January 16, 2015

Mortgage Rates Continue to Fall

Mortgage rates fell for a second week in a row, with the benchmark 30-year fixed mortgage rate dropping to 3.80 percent, according to Bankrate.com's weekly national survey. The 30-year fixed mortgage has an average of 0.27 discount and origination points.
To see mortgage rates in your area, go to http://www.bankrate.com/funnel/mortgages/.
The average 15-year fixed mortgage retreated to 3.11 percent while the larger jumbo 30-year fixed mortgage pulled back below the 4 percent mark to 3.95 percent. Adjustable rate mortgages were mostly lower also, with the 5-year ARM sinking to 3.09 percent and the 7-year ARM sliding to 3.31 percent, the lowest since June 2013.       
Estimates for global economic growth were trimmed further this week, testament to the ongoing worries gripping financial markets. Those economic concerns, coupled with further declines in oil prices and renewed volatility in the stock market, brought bond yields and mortgage rates lower. Mortgage rates are closely related to yields on long-term government bonds. Fixed mortgage rates remain the lowest since May 2013.
One year ago, the average 30-year fixed mortgage rate was 4.57 percent. At that time, a $200,000 loan would have carried a monthly payment of $1,021.71. With the average rate now at 3.80 percent, the monthly payment for the same size loan would be $931.94, a savings of approximately $90 per month for anyone refinancing now.  
SURVEY RESULTS
30-year fixed: 3.80% -- down from 3.85% last week (avg. points: 0.27)
15-year fixed: 3.11% -- down from 3.16% last week (avg. points: 0.18)
5/1 ARM: 3.09% -- down from 3.20% last week (avg. points: 0.19)
Bankrate's national weekly mortgage survey is conducted each Wednesday from data provided by the top 10 banks and thrifts in the top 10 markets.
For a full analysis of this week's move in mortgage rates, go to http://www.bankrate.com/mortgagerates.
The survey is complemented by Bankrate's weekly Rate Trend Index, in which a panel of mortgage experts predicts which way the rates are headed over the next seven days. Nearly two-thirds of the panelists, 64 percent, expect mortgage rates to continue falling. Twenty-nine percent predict that mortgage rates will remain more or less unchanged, while just 7 percent forecast a rebound in mortgage rates over the coming week.
For the full mortgage Rate Trend Index, go to http://www.bankrate.com/news/rate-trends/mortgage.aspx.

Thursday, January 15, 2015

Replacing Entry Doors Ranks Tops for Best Home Improvement Investment

Entry doors offer the highest return on your remodeling dollar, according to the annual Cost vs. Value Report compiled by Remodeling.com.1, The report found that by replacing an entry door, homeowners can expect almost 97% (96.6%) return on investment, a key factor when buying or selling a home.
"Consumers stand to recoup nearly all of their initial investment in the entry door when it comes time to sell their home," said Keith Kometer, VP residential product development for Masonite. "The value of a new entry door is due in part to the added level of security and durability it adds to a home; but a new entry door also adds to the home's overall curb appeal."  
Curb appealCurb appeal is key to attracting potential homebuyers. It is also important to homeowners looking for a simple, cost-effective way to enhance the look of their house. "The front door can be an emotional focal point," said Kometer. "It's an important part of the overall feel of a home."   
To get the most from your investment, entry doors should be tailored to the theme of the house. Masonite doors come in traditional, contemporary and modern styles, with and without decorative glass elements, for a truly custom design. They are conveniently available at Home Depot stores, which carry a wide selection of Masonite doors. For consumers and remodelers, that convenience can mean a faster time to project completion.
Fiberglass adds to the ROIFiberglass technologies bolster the financial ROI on the purchase of a new entry door. Masonite's proprietary, high-performance fiberglass doors are specially engineered to provide maximum protection and durability. They will not rust or dent, and they resist splitting, cracking and warping. Additionally, Masonite fiberglass doors have high-quality composite bottom rails that resist rot and corrosion.
Masonite Fiberglass doors offer the look of real wood, but provide five times the insulation properties of wood. They feature mahogany, oak and fir woodgrain textures or a smooth finish.
"The cost to install a fiberglass door can be relatively low, especially compared to more intensive home improvement projects such as a kitchen remodel," said Kometer.
The best time to replace an entry doorReplacing an entry door is easiest when the weather is still warm. January and February are ideal months for homes in the sunbelt region of the US.
Masonite doors are available at Home Depot and through professional contractors.

Friday, January 9, 2015

Final 2014 Desktop Online Holiday Sales Reach $53.3 Billion, Up 15 Percent vs. Year Ago

comScore (NASDAQ : SCOR), a leader in measuring the digital world, today reported holiday season U.S. retail e-commerce spending from desktop computers for the entire November-December 2014 holiday season. For the holiday season, $53.3 billion was spent online, marking a 15-percent increase versus the corresponding days last year. Cyber Monday (Monday, Dec. 1) once again ranked as the heaviest spending day of the year with more than $2 billion in desktop buying.

2014 Holiday Season Spending vs. Corresponding Days* in 2013
Non-Travel (Retail) E-Commerce Spending
Excludes Auctions and Large Corporate Purchases
Total U.S. – Home & Work Desktop Computers
Source: comScore, Inc.

Millions ($)
2013
2014
Percent Change
Nov. 1–Dec. 31
$46,546
$53,305
15%
Thanksgiving Day (Nov. 27)*
$766
$1,009
32%
Black Friday (Nov. 28)*
$1,198
$1,505
26%
Holiday Weekend (Nov. 29-30)*
$1,594
$2,012
26%
Cyber Monday (Dec. 1)*
$1,735
$2,038
17%
Thanksgiving thru Cyber Monday*
$5,293
$6,564
24%
Green Monday (Dec. 8)*
$1,401
$1,615
15%
Free Shipping Day (Dec. 18)*
$868
$926
7%
*Corresponding days based on corresponding shopping days
"The 2014 online holiday shopping season was very strong overall as spending slightly exceeded our fairly optimistic forecast heading into the season," said comScore chairman emeritus Gian Fulgoni. "Despite a shortened holiday calendar between Thanksgiving and Christmas and erroneous reports of flagging holiday sales, the American consumer proved resilient and flexed their spending muscle online this year. Increasing positive consumer sentiment, improving job growth and declining gas prices all combined to create a more favorable spending environment, and consumers responded by opening up their wallets in a way they hadn't since before the financial crisis. In the end, we saw growth rates in the mid-double digits as the online channel continued to gain meaningful share from brick-and-mortar."
Top 10 Desktop Spending Days in 2014 Holiday SeasonCyber Monday (Dec. 1), for the fifth consecutive year, ranked as the heaviest online buying day with $2.038 billion in desktop spending. The day after Cyber Monday ranked second for the season at $1.796 billion, followed by Green Monday (Dec. 8) with$1.615 billion and Black Friday with $1.505 billion. For the entire season fifteen individual days exceeded $1 billion in online spending via desktop, a significant increase from ten the previous year.
Top 10 Desktop Spending Days in 2014 Holiday Season
Non-Travel (Retail) E-Commerce Spending
Excludes Auctions and Large Corporate Purchases
Total U.S. – Home & Work Desktop Computers
Source: comScore, Inc.
Day
Desktop Spending ($ Millions)
Monday, Dec. 1 (Cyber Monday)
$2,038
Tuesday, Dec. 2
$1,796
Monday, Dec. 8 (Green Monday)
$1,615
Friday, Nov. 28 (Black Friday)
$1,505
Friday, Dec. 12
$1,463
Tuesday, Dec. 9
$1,343
Thursday, Dec. 11
$1,192
Wednesday, Dec. 3
$1,172
Wednesday, Dec. 10
$1,168
Tuesday, Dec. 16
$1,162

Thursday, January 8, 2015

.CoreLogic Reports 273,000 Residential Properties Regained Equity in Q3 2014

CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled services provider, today released new analysis showing nearly 273,000 U.S. homes returned to positive equity in the third quarter of 2014, bringing the total number of mortgaged residential properties with equity to approximately 44.6 million, or 90 percent of all mortgaged properties. Nationwide, borrower equity increased year over year by approximately $800 billion in Q3 2014.  The CoreLogic analysis indicates that approximately 5.1 million homes, or 10.3 percent of all residential properties with a mortgage, were still in negative equity as of Q3 2014 compared to 5.4 million homes, or 10.9 percent, for Q2 2014*.  This compares to a negative equity share of 13.3 percent, or 6.5 million homes, in Q3 2013, representing a year-over-year decrease in the number of underwater homes by almost 1.5 million (1,433,296), or 3.0 percent.
Negative equity, often referred to as “underwater” or “upside down,” means that borrowers owe more on their mortgages than their homes are worth. Negative equity can occur because of a decline in value, an increase in mortgage debt or a combination of both.

For the homes in negative equity status, the national aggregate value of negative equity was $338 billion at the end of Q3 2014, down $10.2 billion from approximately $348.2 billion in the second quarter 2014. On a year-over-year basis, the value of negative equity declined from $403.2 billion in Q3 2013, representing a decrease of 16.2 percent in 12 months.
Of the 44.6 million residential properties with positive equity, approximately 9.4 million, or 19 percent, have less than 20-percent equity (referred to as “under-equitied”) and 1.3 million of those have less than 5-percent equity (referred to as near-negative equity). Borrowers who are “under-equitied” may have a more difficult time refinancing their existing homes or obtaining new financing to sell and buy another home due to underwriting constraints. Borrowers with near-negative equity are considered at risk of moving into negative equity if home prices fall.  In contrast, if home prices rose by as little as 5 percent, an additional 1 million homeowners now in negative equity would regain equity.

“Nationally, the negative equity share is down over three percentage points over the past year. Declines were concentrated in a handful of states, such as Nevada, Georgia, Michigan and Florida,” said Sam Khater, deputy chief economist for CoreLogic. “Forecasted house price appreciation of about five percent over the next year suggests that negative equity should be at about 8 percent a year from now, still above average, but approaching the pre-crisis level.”
“Negative equity continued to decrease in the third quarter as did the level of homes mired in the foreclosure process. This should hopefully translate into less friction in the housing market as we move forward,” said Anand Nallathambi, president and CEO of CoreLogic. “Better fundamentals supporting homeownership in the face of higher rents should attract more first-time homebuyers to the market this year and next.”

Highlights as of Q3 2014:
  • Nevada had the highest percentage of mortgaged properties in negative equity at 25.4 percent, followed by Florida (23.8 percent), Arizona (19 percent), Rhode Island (14.8 percent) and Illinois (14.1 percent). These top five states together account for 33.1 percent of negative equity in the United States.
  • Texas had the highest percentage of mortgaged residential properties in an equity position at 97.4 percent, followed Alaska (97.1 percent), Montana (97.1 percent), Hawaii (96.4 percent) and North Dakota (96.1 percent).
  • Of the 25 largest Core Based Statistical Areas (CBSAs) based on population, Tampa-St. Petersburg-Clearwater, Fla., had the highest percentage of mortgaged properties in negative equity at 25.5 percent, followed by Phoenix-Mesa-Scottsdale, Ariz. (19.3 percent), Chicago-Naperville-Arlington Heights, Ill. (16.3 percent), Riverside-San Bernardino-Ontario, Calif. (15 percent) and Atlanta-Sandy Springs-Roswell, Ga. (14 percent).
  • Of the same largest 25 CBSAs, Houston-The Woodlands-Sugar Land, Texas had the highest percentage of mortgaged properties in an equity position at 97.5 percent; followed by Dallas-Plano-Irving, Texas (97 percent); Anaheim-Santa Ana-Irvine, Calif. (96.6 percent); Portland-Vancouver-Hillsboro, Ore. (96.4 percent) and Denver-Aurora-Lakewood, Col. (95.9 percent).
  • Of the total $338 billion in negative equity, first liens without home equity loans accounted for $178 billion, or 53 percent, aggregate negative equity, while first liens with home equity loans accounted for $160 billion, or 47 percent.
  • Approximately 3 million underwater borrowers hold first liens without home equity loans. The average mortgage balance for this group of borrowers is $230,000. The average underwater amount is $58,000.
  • Approximately 2.1 million underwater borrowers hold both first and second liens. The average mortgage balance for this group of borrowers is $299,000.The average underwater amount is $78,000.
  • The bulk of home equity for mortgaged properties is concentrated at the high end of the housing market. For example, 94 percent of homes valued at greater than $200,000 have equity compared with 85 percent of homes valued at less than $200,000.
*Q2 2014 data was revised. Revisions with public records data are standard, and to ensure accuracy, CoreLogic incorporates the newly released public data to provide updated results.