The Week Ahead: A New Start With a Familiar Face

The House Financial Services Committee announced last week that Jeb Hensarling (R-Texas) was elected to a third term as Chairman of that committee for the 115^th Congress.

Two subcommittees in the House Financial Services Committee will hold hearings this week following the announcement that Hensarling had been elected for a third term as Chairman. The Monetary Policy and Trade Subcommittee will hold a hearing at 10 a.m. EST on Wednesday, December 7, titled “Unconventional Monetary Policy” and the Capital Markets and Government Sponsored Enterprises Subcommittee will hold a hearing starting at 9:30 a.m. EST on Thursday, December 8, titled “The Impact of Regulations on Short-Term Financing.”

In addition to being chosen for a third term as Chairman of the House Financial Services Committee, Hensarling, 59, was recently elected for an eighth term as the representative for the 5th District of Texas, covering Southeast Dallas County, in the November election, having originally been elected to that position in 2002.

“I am humbled by the support and trust of my colleagues to continue my service as chairman of the Financial Services Committee,” Hensarling said. “In the coming Congress, we will continue our important work of helping to grow the economy for all Americans, not just those at the top.”

Congresswoman Maxine Waters (D-California) was re-elected to a second term as Ranking Member of the House Financial Services Committee. She has served on the Committee since 1991 and has served as a member of the U.S. House of Representatives since that same year representing various California districts. She has served in the 43rd District, covering South Los Angeles County, since 2013.

CoreLogic Home Price Insights Report for October 2016, Tuesday, December 6

CoreLogic’s latest Home Price Insights Report, scheduled to be released Tuesday, will contain data from October 2016 with forecasts for November. In the previous Home Price Insights Report, CoreLogic found that home price recovery over the last five years as resulted in aggregate home equity wealth doubling up to $13 trillion, an average of $11,000 per homeowner.

“Home price growth creates wealth for owners with home equity,” said Anand Nallathambi, president and CEO of CoreLogic. “A 5 percent rise in home values over the next year would create another $1 trillion in home equity wealth for homeowners.”

According to CoreLogic's most recent home equity report, which covered the second quarter, more than half a million (548,000) residential properties regained equity in Q2.

This week’s schedule

Tuesday, December 6
CoreLogic Home Price Insights Report for October 2016

Wednesday, December 7
House Monetary and Policy Trade Subcommittee Hearing, “Unconventional Monetary Policy,” 10 a.m.

Bureau of Labor Statistics, Job Openings and Labor Turnover Summary (JOLTS) for October 2016, 10 a.m. EST

Friday, December 9
University of Michigan Consumer Sentiment for December 2016, 10 a.m. EST