Rates Slightly Lower to End 2016; United Shore Settlement

Mortgage rates moved lower for a 3rd consecutive day to end 2016, bringing them to the lowest levels in more than 3 weeks for many lenders. December 8th was the last time rates were lower. As of yesterday, 4.25% regained the status of the "most prevalent" conventional 30yr fixed quote on top tier scenarios. Quite a few lenders remain at 4.375% and a scant few are down to 4.125%. While this is all good news in the context of the past few weeks, 2016 nonetheless ends with one of the worst 2-month losing streaks in the history of mortgage rates. Specifically, the 5 weeks following the election were the worst 5 weeks on record, going back to the Spring of 1987. For anyone considering locking or floating into the 3-day weekend (markets and mortgage lenders are closed on Monday, by the way), it's

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http://www.mortgagenewsdaily.com/reports/newsletter/2016/12/30/2566

Most Markets Back to Historical Norms; Rates Set to End Year With Glimmer of Hope; PHH Servicing Sale

Mortgage rates moved lower today , somewhat significantly, depending on the lender. In many cases, quotes are an eighth of a point lower compared to Tuesday morning. Some lenders made the move yesterday. For others, today did the trick. In both cases, the "effective rate" (a hypothetical rate that accounts for lender-imposed closing costs) fell at its best pace in weeks. Today's quotes are the best since December 12th on average. 4.25% is now the most prevalent conventional 30yr fixed quote on top tier scenarios, although 4.375% remains fairly common. While I would love to tell you that this is a sign of a big shift back in a friendly direction, the gains are largely a result of the year-end bond trading environment. It's not the same bond market that's normally pulling the levers behind the

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http://www.mortgagenewsdaily.com/reports/newsletter/2016/12/29/2564

Rates Already Near 4.5%; Builder Confidence Soars; Definitive Analysis on "Death of a Trend"

Don't believe anything you read about mortgage rates today... well, except this . In fact, you're welcome to believe anything you read as long as it acknowledges the fact that rates have risen nearly a quarter of a point from last week, pushing them well into the highest levels in more than 2 years . The average top tier conventional 30yr fixed rate is quickly approaching 4.5%. Nearly every lender that was at 4.125% last week is now at 4.375%. Lenders who were at 4.25% last week are mostly up to 4.5%. The overall spike in rates since the election is now on par with the 2013 taper tantrum. You'll hear time and again "don't worry... rates are historically low..." and my personal favorite "for every .125% in rate, the payment only rises $7 per $100k borrowed." All of that is true, except perhaps

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http://www.mortgagenewsdaily.com/reports/newsletter/2016/12/15/2542

Worst Day For Mortgage Rates/Bonds in Over 3 Years; Applications Reflect Headwinds

Mortgage Rates skyrocketed today, relative to their average range of movement. It was the single biggest move higher since the days of the taper tantrum in mid-2013. Virtually all lenders are quoting conventional 30yr fixed rates that are at least an eighth of a point higher versus yesterday. Over the past decade, you can count single-day eighth-point moves without using any toes. Some lenders were a quarter point higher, which has only happened a few times, ever. The source of the drama is the market's paradoxical reaction to Trump's victory. Before the election, news that benefited Trump generally benefited rates. This was logical because Trump connoted uncertainty and rates tend to benefit when investors seek shelter from uncertainty by buying bonds. Indeed, bonds' first move was tremendously

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http://www.mortgagenewsdaily.com/reports/newsletter/2016/11/9/2487

Time to Talk Loan Limits; Homeowners Throwing Away Retirement; Income Fears Hurt Housing; Rates Wait on Election

A change in conforming loan limits could have a big impact on mortgage originations and on homebuying in general according to Black Knight Financial Services. The company did an analysis of those limits in its current edition of the Mortgage Monitor which covers mortgage performance data from September. Black Knight says with the national HPI returning to pre-crisis levels talk has now turned to raising those levels. The current conforming limit, $417,000, has not changed since 2006. The Housing and Economic Recovery Act (HERA) of 2008 rest r icted any additional increase in the limit until national home values had returned to pre-crash levels. There are currently 234 designated "high cost" counties (indicated on the map) where conforming limits exceed the national level, going as high as

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http://www.mortgagenewsdaily.com/reports/newsletter/2016/11/7/2483

Realtors Decide Who Gets The Loan; Rates Ignore Jobs Data; State Lending Updates

A trusted real estate agent could be a loan officer's best friend. A survey, commissioned by Freddie Mac in advance of the National Association of Realtors (NAR) annual conference in Orlando, found there is a strong symbiotic relationship between the two professions and it is one lenders would do well to nourish. Freddie Mac found that real estate professionals tend to refer their home-buying clients to a select group of lenders and they chose those lenders based on the ease of doing business with them, their reputations , and the strength of those relationships . Eighty-four percent of agents say they maintain such a lender list and it tends to be a select one. Almost three-quarters refer clients to only one to three lenders . The remainder work with four to six. The real estate professionals

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http://www.mortgagenewsdaily.com/reports/newsletter/2016/11/4/2479

Rates Prefer Politics to Fed; Comparing Past/Present Fed Verbiage; Homebridge/Prospect Buyout; Apps Lowest Since Spring

Mortgage Rates eased just a bit more today, marking the 4th day of relative stability after a sharp rise last Thursday. Although there was a Fed announcement today, and although Fed announcements are typically capable of causing massive market movement, it was a relative non-event this time around. Instead, the modestly positive interest rate environment came courtesy of ongoing uncertainty surrounding the presidential election. Of course the Fed announcement very easily could have caused a big move in rates, had it contained any significant surprises. For instance, if the Fed opted to raise rates today, or to firmly comment on a potential December rate hike, things could have been different. Instead, they made only small changes --the kind that could be used by either side to argue the odds

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http://www.mortgagenewsdaily.com/reports/newsletter/2016/11/2/2475

Rates Gyrate on Political Headlines; Fed Tomorrow; September Home Price Data Off to Strong Start

Mortgage Rates continue to operate near 5-month highs , after putting in a mixed performance today. The morning was especially bad as stronger global economic data pushed US bond markets to their weakest recent levels (weak bonds = high rates). The tense market environment surrounding the presidential election worked in rates' favor in the afternoon. Headlines broke regarding new documents being posted by the FBI regarding a 2001 probe of the Clinton Foundation. Although the details and rationale were sketchy, the news logically benefits Trump to an undetermined extent. Because markets generally associate Trump with greater uncertainty, and because uncertainty motivates bond buying, bonds improved rapidly into the afternoon. Most lenders issued positive reprices, bringing rates back in line

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http://www.mortgagenewsdaily.com/reports/newsletter/2016/11/1/2473

Mortgage Rates End October Just Off 5-Month Highs; One Home Price Index Bucking The Trend

Mortgage Rates moved sideways to slightly lower for the 2nd day in a row, after hitting the highest levels in 5 months on Thursday. While the positive progress is better than a sharp stick in the eye, it nonetheless leaves us right in line with highs for all practical purposes. In fact, virtually all lenders are putting out quotes today that are indistinguishable from Thursday's for most prospective borrowers. The most prevalently-quoted conventional 30yr fixed rate remains 3.625% on top tier scenarios, with a handful of the most aggressive lenders at 3.5%. The remainder of the week brings several flashpoints for market volatility, with Wednesday's Fed announcement being the center of attention. The Fed is not expected to announce a rate hike this week (though it's not impossible, by any means

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http://www.mortgagenewsdaily.com/reports/newsletter/2016/10/31/2471

CFPB Fires HMDA Warning Shots at 44 Lenders; Rates Recover Nominally But Stay Near 5-Month Highs

Consumer Financial Protection Bureau (CFPB) chief Richard Cordray announced on Thursday that his agency had issued warning letters regarding reporting under the Home Mortgage Disclosure Act (HMDA) to 44 financial institutions. The letters advised the companies, which included both mortgage lenders and mortgage brokers that they appear to be in violation of HMDA requirements. CFPB identified the 44 companies through a review of available bank and nonbank mortgage data. The letter reads in part, "While we have not made a determination that [Name of Company] is in violation of HMDA filing requirements, we urge you to review your practices to ensure that you comply with all relevant laws. You may find it helpful to review the text of HMDA, Regulation C, and CFPB guidance documents available on

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http://www.mortgagenewsdaily.com/reports/newsletter/2016/10/28/2467

Rates, Uncertainty Remain High; New Home Sales Relatively Strong; Mortgage Apps Slilde

Mortgage Rates didn't move much today, with most lenders just slightly higher than yesterday. This keeps us right in line with the highest levels in more than 4 months. For the sake of perspective, outside the past 4 months, rates have hardly ever been as LOW as they are today. The average lender is quoting conventional 30yr fixed rates of 3.625% on top tier scenarios, though several remain at 3.5%. The bond markets that underlie rate movement are generally defensive and uncertain at the moment. Investors are anxious to see if next week's Fed announcement will hold clues about the Fed's intention to hike its policy rate in early December. Even though the Fed Funds Rate doesn't directly affect mortgage rates, if investors increasingly believe the Fed will hike in the future, mortgage rates tend

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http://www.mortgagenewsdaily.com/reports/newsletter/2016/10/26/2463

Rates Stuck at Highs For Now; Separate Home Price Reports Confirm Strong Trend Intact

Mortgage Rates were unchanged in many cases today, with a handful of lenders inconsequentially better or worse versus yesterday's latest offerings. Despite moving lower on 4 out of the past 6 days, rates were never able to put meaningful distance between themselves and the highest levels in more than 4 months. The slow progress was partly a market phenomenon and partly due to lender strategy. Mortgage rates are driven by bond markets--specifically, mortgage-backed-securities (MBS). Bond markets were hesitant to rush back toward lower rates after topping out in mid-October because traders continued to wait for key events for the green light. Now that one of those events (the European Central Bank's official comment on its longer term bond buying plans) is on hold until early December, traders

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http://www.mortgagenewsdaily.com/reports/newsletter/2016/10/25/2461

Fannie/Freddie Lowering Underwriting Barriers; Rates Break Streak; MBA Calls for 'Reset'

Fannie Mae and Freddie Mac each announced what appear to be essentially identical changes in their loan underwriting programs - Fannie calls its new offering "Day 1 Certainty" while Freddie was less poetic, referring simply to new capabilities added to its Loan Advisor Suite. Fannie Mae President and Chief Executive Officer, Tim Mayopoulos, described Day 1 Certainty today as a way to give lenders "freedom from representations and warranties and greater speed and simplicity when delivering loans to Fannie Mae." He said this will help transform the way lenders do business by moving a paper-based process to an automated one through the company's underwriting software. We assume there are technical differences in the changes to Fannie Mae's Desktop Underwriter and Collateral Underwriter and Freddie

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http://www.mortgagenewsdaily.com/reports/newsletter/2016/10/24/2459

Don’t Spook Buyers! Here Is Some Tasteful Halloween-Inspired Curb Appeal

By Melissa Dittmann Tracey, REALTOR(R) Magazine

You don’t want to scare buyers away. But who says you can’t have a little fun with your listing for Halloween?

Sure, you should probably skip the full cemetery tomb display for the sake of curb appeal. And, probably the ghost popping out of the tree or the witch laughing a haunting laugh in the corner is not the best idea when selling a home. But a few nonscary, Halloween-themed accents here and there can help outfit your listing’s exterior for the season. After all, orange is an eye-popping color that you can certainly use to your advantage in the fall.

Why not add some pumpkins and fall-inspired décor around the for-sale sign for some added attention? Or a spider on a fake web hanging down from your sign for a little fun?

Need some inspiration? Take a look at few examples of stylish Halloween exteriors, all taken from designers featured at Houzz, a website for remodelers and designers.

Photo by Mary Prince Photography – Search traditional entryway design ideas

Photo by Southern Botanical, Inc. – Discover traditional entryway design ideas

Photo by Southern Botanical, Inc. – Search traditional entryway design ideas

Photo by Seaside Interiors – Look for traditional exterior pictures

Photo by Julie Ranee Photography – Search eclectic porch pictures

Photo by Mary Prince Photography – More traditional landscape photos

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Housing and Economy Probably Heading Downhill; Starter Home Drought Leaves 1st Time Buyers Thirsty

Deja vu all over again? Freddie Mac says economic growth is recovering from a weak first half of the year, the labor market is holding steady and Fed watchers are concluding that a rate hike will come in December; worldwide economic growth is weak and appears likely to get worse. The company's economists add, " We've been here before ... last year." The economy continues to sputter along and the housing market continues to be a bright spot although with "less room to run than in the prior few years." Refinance-spurred mortgage activity is starting to slow as rates rise and that will persist into 2017 as the mortgage market becomes more purchase-dominated. Freddie Mac's Outlook for October closely mirrors predictions in the Fannie Mae forecast earlier this month with a prediction of full-year

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http://www.mortgagenewsdaily.com/reports/newsletter/2016/10/21/2455

Fannie Sees Waning Housing Momentum; REO Sales at 9-Yr Low; Potential Volatility for Rates

Fannie Mae says it expect economic growth will improve on its anemic performance in the first half of 2016 in the second half of the year, rising to 2.4 percent from 1.1 percent. This estimate in the company's October Economic Developments Commentary is a slightly slower pace of growth than its economic and strategic research team had predicted earlier. Their full year forecast remains at 1.8 percent. Treasury yields have moved higher recently along with long-term sovereign yields in other developed markets as investors perceive the global central banks such as the European Central Bank and the Bank of Japan are tapering their quantitative easing programs. Financial markets also remain convinced that the Federal Reserve will increase the target rate this year, something supported by the Fed

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http://www.mortgagenewsdaily.com/reports/newsletter/2016/10/19/2451

Mortgage Rates Inch Lower; Housing Market Index 2nd Highest in 2016

Mortgage Rates moved slightly lower today, depending on the lender. During the morning hours, rates were roughly unchanged and thus remained in line with the highest levels in more than 4 months. As the day progressed, bond markets improved, resulting in fairly widespread 'positive reprices' (meaning that certain lenders issued new rate sheets with modest improvements). After the reprices, the average lender was quoting slightly lower upfront costs for the same note rates seen yesterday. 3.625% is currently the most prevalent conventional 30yr fixed quote on top tier scenarios. Despite the intraday improvements, rate/bond markets remain anxious. Now that we've seen our first 2-day winning streak in the month of October, it's tempting to conclude that the recent trend toward higher rates is

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http://www.mortgagenewsdaily.com/reports/newsletter/2016/10/18/2449

Rates Stay Near Highs; How Domestic Migration Affects Mortgage Market; Big Bank Results

Mortgage Rates remained near 4-month highs today, despite moderate improvement in underlying bond markets. The problem for most lenders was the timing of Friday's market movements. Bond yields spiked sharply on Friday afternoon--too late for most lenders to adjust rate sheets. Any lenders who did not 'reprice' on Friday were left to account for the market weakness today. As such, most lenders are right in line with their highest rate offerings in more than 4 months. In the bigger picture , rate markets are anxious. While it's a welcome development to see rates heading in the right direction during the course of any given day, we'd need to see sustained improvements before we could consider a shift in the longer term trend toward higher rates. Even then, Thursday's European Central Bank Announcement

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http://www.mortgagenewsdaily.com/reports/newsletter/2016/10/17/2447

View the Same Property Staged 3 Different Ways

By Saghar Setareh, CoContest guest contributor

How can you know the best style for staging a property? After all, you’ll need to satisfy home buyers’ various style tastes as well as make sure you’re showing the property in its best light.

Thanks to the power of the Internet, we wanted to see just how much the point of view in staging of properties can vary. We asked for designers to upload their take on one floorplan at the CoContest website. All designers staged the same room, but recreated it differently based on their own style and taste and interpretation of the client’s request in the contest.

The challenge: This modern apartment in Connecticut needed to be renovated, in a way to enjoy the artwork during the gatherings of family and friends.

Photo courtesy: CoContest

Design 1: Classic Vibe

Designed by Decolite Design

This room offered up a more classic appeal. The designer Decolite Design used a crystal chandelier for the main lighting, colonial furniture for the main living room, black chesterfield sofas with white armchairs, and a large, white rug. The artwork is also from the classic period. The pallet of colors is black and white, and a piano along the wall also helps to complete the look.

Design 2: Bold Artwork

Designed by Marta Valence; Photo courtesy: CoContest

This designer Marta Valente above used bright and saturated colors in the artwork to compliment the two dark sofas and white and mustard color chairs. In order to add a more modern and industrial look to the space, a wooden table with metal legs was brought in. To complete this look, the wall has gray bricks and there’s a colorful buffet in stripes along one wall.

Design 3: A Modern Touch

Designed by BIVIO Architettura. Paula Godoy & Celia Cardona; Photo courtesy: CoContest

Designed by BIVIO Architettura. Paula Godoy & Celia Cardona; Photo courtesy: CoContest

Another designer BIVIO Architettura. Paula Godoy & Celia Cardona used very modern furniture from the late 20th Century, puffs, and large paintings to work as a separator. Texture is also used in the modern furniture and couches to match the abstract paintings on the wall. Low, coffee table and cushions are also part of this look. But the most distinctive feature of this project: The vertical bars that divide the living room in two separated parts.

 

These are only three design ideas from many, that present the property in three, completely different styles, made possible to imagine how the property would look like, with a convenient price.

ABOUT THE AUTHOR: Saghar Setareh is the Content Manager of CoContest, the first crowdsourcing platform for interior design and architecture online. She is an enthusiast about home decor and all forms of design.

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http://feedproxy.google.com/~r/StyledStagedSold/~3/hVjqyF8t5n4/

Rates Bounce Back to 4-Month Highs; New Home Sales Rose in Sep; Pause For Reflection

Mortgage Rates remained under pressure today, moving right back to the highest levels in more than 4 months after only one day of recovery. This might not have been readily apparent on most of the day's rate quotes because things didn't deteriorate meaningfully until late in the afternoon. In fact, for several lenders, it was too late in the day to issue a reprice (i.e. a new rate sheet on any given day, typically prompted by big moves in bond markets). When that happens, those lenders simply adjust for the market movement on Monday morning. In quantitative terms, even after lenders made their adjustments, rates aren't too much higher than they were on Wednesday. Conventional 30yr fixed quotes are still going out around 3.625% on top tier scenarios. The only changes would be seen in the form

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http://www.mortgagenewsdaily.com/reports/newsletter/2016/10/14/2443

The Internet of Real Estate - Show 401

Real Estate Today Radio - SHOW 401

On this week's Real Estate Today, it's our special show "The Internet of Real Estate."

This Week's Show Includes:
- Top News Of The Week
- The REALTOR(R).com Apps
- What a Difference the 'net Makes
- Ask The Millennial
- Smart Home Technology
- Get REALTOR(R)

Become a part of the community at http://retradio.com!

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http://retradio.com/

Broad Ripple Brewpub owners branching out to East 10th Street

John and Nancy Hill are purchasing a 96-year-old building and plan to open a restaurant and taproom in the up-and-coming corridor near downtown.

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http://www.ibj.com/blogs/3-property-lines/post/60809-broad-ripple-brewpub-owners-branching-out-to-east-10th-street

Rates Lower Today, Much Higher This Week; Earthquakes Should be Bigger Concern For Housing; Appraisal Issues

Mortgage Rates managed to make modest gains today, moving just slightly lower for the average lender. That's a welcome development after 10 straight days of higher rates, but it's more of a symbolic victory for now. Reason being: most lenders are quoting the exact same rates as yesterday, with improvements limited to small adjustments in upfront costs. In other words, rates are lower on average, but by such a small amount that the average borrower won't see a change. 3.625% continues as the most prevalent quote on top tier scenarios, up from 3.375% just 2 weeks ago. Keep in mind, if you see any other articles on mortgage rates today (especially if the source is a major media outlet or a financial news site), that Freddie Mac's weekly rate report came out today. It conveyed a surprisingly small

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http://www.mortgagenewsdaily.com/reports/newsletter/2016/10/13/2441

Stenz starting $4M second phase of Dorman project on East 10th Street

The second piece of the project a stone's throw from the massive Coke plant redevelopment on Mass Ave will feature townhomes and a 6,000-square-foot retail and office building.

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http://www.ibj.com/blogs/3-property-lines/post/60793-stenz-starting-4m-second-phase-of-dorman-project-on-east-10th-street

Rates Hit 4-Month Highs; Homeownership Pessimism Might be Overdone; CFPB/PHH News and Analysis

In and of itself, today wasn't too bad of a day. Mortgage Rates were only slightly higher, and were generally unfazed by the release of the Minutes from the most recent Fed meeting. Market participants were concerned about the Minutes making a clearer case for a rate hike at the next meeting. Ultimately, the Minutes didn't tell us anything we didn't already know and bond markets (which dictate mortgage rates) improved. Now for the unfortunate aspects of the day! When we consider today in the context of the past 9 days, we see that it prolongs a depressingly long losing streak. Mortgage rates haven't moved lower since September 27th. Moreover, they're roughly a quarter point higher since then! As for today's bond market improvements, they were merely enough to get bonds back near yesterday's

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http://www.mortgagenewsdaily.com/reports/newsletter/2016/10/12/2439

Philadelphia Named Best City for Trick-or-Treating

Zillow's annual list names the cities where trick-or-treaters can get the best candy, in the least amount of time

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http://zillow.mediaroom.com/2016-10-12-Philadelphia-Named-Best-City-for-Trick-or-Treating

Mortgage Rate Trend is Not Your Friend; Fannie Addresses Complexity; Prices Helped by Foreclosure Drought

Mortgage Rates were higher again today, marking the 9th straight day without any improvement. 3.625% is quickly becoming the most prevalent conventional 30yr fixed quotes on top tier scenarios, though quite a few lenders remain at 3.5%. On an optimistic note, when losing streaks get this long in rates markets, we're increasingly likely to see at least one day of relief in the near term future. That said, it will take more than a day or two of strength to call the current trend into question. If it's not clear from the title, the tone, and the originator perspective below, the current trend is not your friend--at least not if you want rates to go lower in the short term. However, the trend can still serve a purpose. Because of its linearity and duration, it will be fairly easy to see when this

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http://www.mortgagenewsdaily.com/reports/newsletter/2016/10/11/2437

How to Reinvent a Room to Attract Buyers

By Patti Stern, PJ & Company Staging and Interior Decorating

Thinking about remodeling but not sure it will pay off when it comes time to sell? According to Remodeling Magazine’s Cost vs. Value Report, most room remodels and additions may only recoup up to 80 percent of the cost. And since time and money is something prospective sellers are cautious about wasting, we put together the following list of practical ways to attract buyers and increase resale value without drastically changing your home’s footprint.

Kitchen staged by PJ & Company Staging and Interior Decorating

Transform The Kitchen With Simple Upgrades

The most economical way to breathe new life into the kitchen is by first repainting walls with a fresh coat of neutral paint. Next, consider refreshing outdated cabinet fronts (as shown in photo above) with bright white paint along with brushed nickel or chrome hardware in modern styling. Upgrading flooring and countertops is also worth considering since there are many options available with a range of price points that are both stylish and functional.

Master bath staged by PJ & Company Staging and Interior Decorating

Give The Bathroom A Facelift

It still goes without saying that outdated bathrooms are simply a turn-off to millenials. Even the smallest bathrooms can look more attractive with the right finishing touches. The key features that will sell a bathroom are updated or refinished cabinets and countertops, wall color, tile, faucets, toilet, and lighting in modern styles. For the bathroom featured above, we covered the light wood vanities that were in decent condition with dark espresso paint to add instant elegant style when paired with updated faucets and lighting.

Bedroom staged by PJ & Company Staging and Interior Decorating

Convert the Extra Room Back To Bedroom

It’s common for many empty nesters to repurpose a spare bedroom into a more practical space such as an office, study or game room once the kids go off to college. But when it comes time to sell, showcase a room with its original purpose to appeal to young, prospective buyers since they are always on the look out for more bedrooms for the kids. In the room above, our team turned the hobby room back into an inviting bedroom setting by removing clutter and replacing with twin beds with colorful comforters and pillows, new fixtures, and simple wall art.

Basement/family room and office nook staged by PJ & Company Staging and Interior Decorating

Create Usable Space In The Basement

Convert an empty or junk-filled basement into a room with a purpose. A game room, family room, in-law suite, office nook, or exercise room are all great examples that will appeal to buyers looking for extra living space. Once clutter is removed, carpet cleaned and walls repainted, add simple furniture such as a desk, chair, sofas and accessories that create a lifestyle that buyers can envision for themselves. Consider adding extra closet space or using a hidden area under the stairs for more storage.

Mudroom remodel and decorating by PJ & Company Staging and Interior Decorating

Add Style and Function To The Back Entry

Create a mudroom that will be useful for families with young kids and pets year round. In the photo above, we transformed our client’s back entry with built-in storage and seating surrounded by bead board for a stylish finishing touch

ABOUT THE AUTHOR: Patti Stern, principal, interior decorator and professional stager of PJ & Company Staging and Interior Decorating, has been decorating and staging homes since 2005. She and her team provide turnkey, full service home staging and interior decorating to clients across Connecticut, New York and Massachusetts. She also developed an award winning staging program for luxury homebuilder, Toll Brothers. Her company has received Houzz 2015 and 2016 Awards for Customer Service. Stern has been featured in Connecticut Magazine, the Hartford Courant, Danbury News-Times and on NBC Connecticut and FOX TV.  She is a regular contributor to REALTOR Magazine’s blog, “Style, Staged and Sold.”

 

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http://feedproxy.google.com/~r/StyledStagedSold/~3/t3HdZOvQHo4/

Rates Higher Despite Slower Job Growth; Fannie Index Reflects Housing Market Caution; Credit Availability Improves

Mortgage Rates were modestly higher today, despite a weaker-than-expected Employment Situation (aka NFP, nonfarm payrolls, or simply "the jobs report"). NFP is the most important number on any given month in terms of market-moving economic data. When NFP is lower than expected, rates tend to move lower. Even though today's NFP didn't fall too terribly short of forecasts, rates nonetheless made a counterintuitive move higher, confirming the generally pessimistic attitude in the bond market at the moment. The modest increase in rates means we continue to operate at the highest levels in more than 3 months. Most lenders than had been quoting 3.375% on conventional 30yr fixed scenarios are now up to 3.5%. Many have moved up from 3.5 to 3.625% . While there are some early signs that a ceiling could

from
http://www.mortgagenewsdaily.com/reports/newsletter/2016/10/7/2433

Zillow: West Coast Metros Will See Biggest Rent Increases Over the Next Year

According to Zillow's forecast, rents across the nation are expected to maintain a 1.7 percent growth rate, while rents in Seattle and Portland are forecasted to appreciate by more than 6 percent.

from
http://zillow.mediaroom.com/2016-10-07-Zillow-West-Coast-Metros-Will-See-Biggest-Rent-Increases-Over-the-Next-Year

Toy store heading north to SoBro after 10 years on Mass Ave

The owner of Mass Ave Toys has signed a lease for space in a new retail complex along East 54th Street and will leave her longtime downtown home at the end of the year.

from
http://www.ibj.com/blogs/3-property-lines/post/60719-toy-store-heading-north-after-10-years-on-mass-ave

Rates Are Anything But 'Unchanged'; CoreLogic ID's Overvalued Metros With Flipping and Fraud Indices

Mortgage Rates didn't move much today compared to yesterday's latest levels, but that's the only way to view them as being 'unchanged.' Even so, as is typical for any Thursday, news media is awash in the mortgage rate headlines resulting from standard-issue repackaging of Freddie Mac's weekly rate report (Freddie puts out the numbers and hundreds of journalists write a story based on those numbers). At the end of the day, it's only one piece of data that has been redistributed numerous times. Normally that's not a problem. If the headlines reflect reality, then it doesn't much matter if hundreds of stories are written about it. But occasionally the underlying data lags reality due to Freddie's methodology. That quickly becomes a problem on days like today when rates are, in fact, at their highest

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http://www.mortgagenewsdaily.com/reports/newsletter/2016/10/6/2431

Student-housing developer buys two historic buildings on Mass Ave

Annex Student Living will relocate from Broad Ripple to the building housing Mass Ave Toys. Its principals also have purchased one of downtown's most distinctive architectural landmarks.

from
http://www.ibj.com/blogs/3-property-lines/post/60695-student-housing-developer-buys-two-historic-buildings-on-mass-ave

Rates Highest Since Brexit; Refis Help Mortgage Apps; Merrill and PHH Split

Mortgage Rates were higher again today, following much stronger-than-expected economic data. A key index that tracks the health of the services sector recovered from last month's 6-year lows, hitting the best level in nearly a year today. Stronger economic data generally puts upward pressure on rates. Not all data is as potent in that regard, but today's report from the Institute for Supply Management (ISM) is one of the biggies. Rates also remain under pressure in a general sense because market participants increasingly wonder if Europe is at a crossroads with respect to its bond-buying program. More simply put , the European Central Bank might slow down its bond buying, and central bank bond-buying is why rates are as low as they are. Rates have now returned to their highest levels since

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http://www.mortgagenewsdaily.com/reports/newsletter/2016/10/5/2429

Rates Spike on Overseas Concerns; Home Prices Defy Predictions: Justified or Bubbly?

Mortgage Rates moved significantly higher today, relative to recently narrow ranges. It's enough to bring the most prevalent conventional 30yr fixed quote back up to 3.5% (from 3.375%) on top tier scenarios. While that might now sound like a lot in and of itself, the risk is that it's the beginning of bigger move that could take months to fully play out. Of course, if we knew that would happen, then rates would be moving a lot higher right now. For now, all we have is elevated risk--a call to battle stations, if you will. It could turn out to be a false alarm, but only time will tell. The source of today's panic is speculation that Europe is getting closer to its own version of "tapering." This refers to the gradual reduction in the amount of bonds being purchased by central banks. In the US

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http://www.mortgagenewsdaily.com/reports/newsletter/2016/10/4/2427

Roundup: Hibachi bar opens in Broad Ripple; Primanti launching at Circle Centre

Three restaurant openings in Broad Ripple and several retail and restaurant openings and closings in Indianapolis and Hamilton County highlight the latest roundup.

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Rates Near 2-Week Highs; Construction Spending Slows; Mortgage Mortality Not Just About Refis

Mortgage Rates were higher today, with most lenders at their highest levels in nearly 2 weeks. The bond markets that underlie mortgage rate movement responded negatively to this morning's slightly stronger manufacturing data. In general, because bonds represent a way for investors to seek lower, safer returns, stronger economic data causes bonds to weaken and rates to move higher. But most lenders were already out with today's higher rates by the time the manufacturing data hit. That means lenders avoided raising rates on Friday as bond markets weakened into the afternoon. What's the point of all this? Simply put, much like Friday afternoon, we've had bond market weakness today that has yet to be priced-in to lenders' rate sheets. That means rates start with a bit of a disadvantage tomorrow

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http://www.mortgagenewsdaily.com/reports/newsletter/2016/10/3/2425

Rates Mixed, Still Near Recent Lows; OCC Report on Mortgage Performance; CFPB on HMDA and 1003

Mortgage Rates were mixed today, with some lenders in slightly weaker territory while others offered modest improvements versus yesterday. The dichotomy has to do with the timing of yesterday's market movements. Bond market began the day in weak territory yesterday but improved noticeably by the end of the day. Some lenders sent out updated (better) rate sheets while others stood pat. Lenders whose rates increased today tended to come from the group that offered improvements yesterday afternoon. Long story short, there was a brief window of the week's best rates for some lenders yesterday with everyone getting mostly back on the same page today. Fortunately, that page is still a good one. While rates aren't quite as low as they were earlier this week, they're still much lower than they were

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http://www.mortgagenewsdaily.com/reports/newsletter/2016/9/30/2421

The $1000 Show - Show 399

Real Estate Today Radio - SHOW 399

On this week's Real Estate Today, it's our special show "The $1000 Show."

This Week's Show Includes:
- Top News Of The Week
- The 'No-Spend' Month
- Save More By Partnering Up
- Ask The Millennial
- Smart Home Technology
- Get REALTOR(R)

Become a part of the community at http://retradio.com!

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Wages Lag Home Prices; Affordability Suffers; Inventory Stifling Home Sales; Where Are The Refis?!

The lack of housing affordability is rising among the 414 U.S. counties tracked by ATTOM Data Solutions. ATTOM, the new parent company of RealtyTrac, said on Thursday that 24 percent of those counties were less affordable than their historic averages in the third quarter of 2016, up from 22 percent in the second quarter and 19 percent a year earlier. It was the highest share for this metric since the third quarter of 2009 when 47 percent of markets had fallen below their historic affordability averages. ATTOM reports that 101 of the 414 counties had an affordability index below 100 in the third quarter of 2016, meaning that buying a median-priced home in that county was less affordable than the historic average for that county going back to the first quarter of 2005. ATTOM's affordability index

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http://www.mortgagenewsdaily.com/reports/newsletter/2016/9/29/2419

Downtown intersection transforming into residential hub

A Bloomington developer is proposing to build a small apartment project at the southeast corner of Market and East streets, adding to the rapid pace of residential growth in the area.

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http://www.ibj.com/blogs/3-property-lines/post/60578-downtown-intersection-transforming-into-residential-hub

Rates Break Winning Streak; Cash Sales Lowest Since 2007; Worry More About Repeat Buyers?

Mortgage Rates finally took a break from their recent winning streak today. While there are a few lenders whose rates are just a hair lower than yesterday's, most are slightly higher. Moreover, bond market weakness in the afternoon prompted several other lenders to issue mid-day reprices to even higher rates. Of course, all of the aforementioned movement is exceptionally small in the bigger picture, but it does fit the bill of being the first push back against 6 solid days of improvement. That's the sort of thing that could be taken as a sign to lock if you've been waiting for an opportunity. On an outright basis, rates remain close to all-time lows with the average lender quoting 3.375% on top tier, conventional 30yr fixed scenarios. There are still a few lenders at 3.5% but they're a small

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http://www.mortgagenewsdaily.com/reports/newsletter/2016/9/28/2417

Protected: Vanity Wars: Who Wore It Best?

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Rates Near 2-Month Lows; Trended Credit in New DU; Price Gains Unsustainable -Case-Shiller

Mortgage Rates maintained their recent winning streak today, falling for the 5th straight day. The average lender is now offering the best rates in nearly 2 months. You'd have to go back early August or late July (depending on the lender) to see a better combination of rate and upfront cost. This brings up a caveat that has been important in the past few months. The outright range of rate movement has been exceptionally small! We talk about "rates" moving every day, but that's just convenient shorthand for "the combination of NOTE RATE and UPFRONT LENDER COSTS." Those upfront costs are sometimes referred to as "points," but that isn't a universal definition. Regardless of the label, this refers to whatever costs the lender is charging (or paying) at closing. These usually include things like

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http://www.mortgagenewsdaily.com/reports/newsletter/2016/9/27/2415

Square Donuts to close downtown, open shop in Greenwood

It's a zero-sum game for the Terre Haute-based chain, which operates four donut shops in the Indianapolis area.

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Home Sales Beat Estimates; Price Gains Slowing; Rates Move Lower; Big Bounce?

After a spectacular run for new home sales in July, it was anticipated that August activity would be considerably more modest. While sales did retrench from the post-crash highs reached the previous month (which improved even further when revised), the August numbers still came in above analysts' estimates The Census Bureau and the Department of Housing and Urban Development estimates that August sales of newly constructed single-family homes were at a seasonally adjusted annual rate of 609,000 , a 7.6 percent drop from July when the rate was 659,000 units, a number originally reported at 654,000. The August sales rate was 20.6 percent higher than that of a year earlier, 505,000. Analysts polled by Econoday had expected sales to be within a range of 575,000 to 630,000. The consensus was 598

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http://www.mortgagenewsdaily.com/reports/newsletter/2016/9/26/2413

The ‘New’ Brass Is Back in Home Design

Photo by Westborough Design Center, Inc. – Discover traditional kitchen design ideas

 

By Melissa Dittmann Tracey, REALTOR(R) Magazine

It’s all about that brass. But don’t expect to see that 1980s super shine. Today’s trendy brass is more of an antique brass, which is being used in light fixtures, mirrors, frames, and even furniture trims.

Mandie Maguire, an interior designer and broker associate with Berkshire Hathaway Home Services in Park Ridge, Ill., says antique brass fixtures are especially trendy with white kitchen cabinets along with a light quartzite countertop.

The antique brass also pops against gray walls.

“Brass is definitely back, but it’s a new brass – muted, less harsh, and not polished,” says Barbara Nazzaro, owner of A Simply Staged Home in the Boston area.

 

Photo by Cornerstone Architects – Search contemporary kitchen pictures

Photo by Holst Brothers General Contractors – Look for beach style bathroom pictures

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Maxing Out Your Biggest Investment - Show 398

Real Estate Today Radio - SHOW 398

On this week's Real Estate Today, it's our special show "Maxing Out Your Biggest Investment."

This Week's Show Includes:
- Top News Of The Week
- How Your Equity Helps
- Getting that Appraisal Up there
- Ask The Millennial
- Smart Home Technology
- Get REALTOR(R)

Become a part of the community at http://retradio.com!

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New redevelopment plans emerging for stalled Irvington Coal Factory project

A new developer is proposing affordable housing for the site after the current owners couldn't make their plans work for a mix of restaurants, retail and artisanal food production.

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http://www.ibj.com/blogs/3-property-lines/post/60473-new-redevelopment-plans-emerging-for-irvington-coal-factory

Home Values Maintain Steady Growth, While Rents Slow Dramatically

The median home value in the U.S. is now $188,100, up 5 percent since last August, according to Zillow's August Real Estate Market Reports

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http://zillow.mediaroom.com/2016-09-22-Home-Values-Maintain-Steady-Growth-While-Rents-Slow-Dramatically

Rates Barely Budge Following Fed; How The Statement Changed; Origination Forecast Increases; CFPB on Credit Unions

Mortgage Rates made modest gains in some cases today, though many lenders are in roughly the same territory as yesterday. Things could be worse, however, considering we had 2 major announcements from central banks today (Japan overnight and the Fed this afternoon). These are always flashpoints for market volatility, but they don't always deliver on their threats. Today was something in between calm and volatile. Most of the volatility was seen in financial markets with very little making it through to mortgage lenders' rate sheets. Fortunately, the market volatility was in our favor today, as underlying bond markets improved following the Fed announcement. Bond market improvement connotes lower mortgage rates. Several lenders saw enough improvement in bond markets to adjust pricing in the afternoon

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http://www.mortgagenewsdaily.com/reports/newsletter/2016/9/21/2407

St. Elmo operator bringing upscale burger restaurant to Circle Centre

Craig Huse expects to open Burger Study in April near St. Elmo spinoff Harry & Izzy's. He describes it as a "full-service burger bar and restaurant delivering an adult dining experience."

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http://www.ibj.com/blogs/3-property-lines/post/60459-st-elmo-operator-bringing-burger-restaurant-to-circle-centre

Fannie Sees Fed Waiting, Housing Cooling; Rates Near Highs Ahead of Fed; Construction Numbers Lag

Fannie Mae says that early bets on third quarter economic growth are around 3.0 percent which has the Federal Reserve talking again about raising the fed funds target rate, but odds are it won't happen at the Federal Open Market Committee (FOMC) meeting this week. Even with an acceleration in the second half of the year Fannie Mae's economists are holding to their July forecast of 1.8 percent growth this year. The current (third quarter) GDP should come in around 2.9 percent annualized, an acceleration that will reflect a rebound in inventory investment from its very low level during the first half of the year. Consumer spending is expected to remain the biggest driver of growth and non-residential investment should increase after three consecutive quarters of decline. However, the company

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http://www.mortgagenewsdaily.com/reports/newsletter/2016/9/20/2405

Downtown dessert bar closes as entertainment venue gears up for debut

The owner of Frona Mae Cafe on Washington Street hopes to reopen at another location, while Punch Bowl Social prepares to begin serving customers Saturday on South Meridian Street.

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http://www.ibj.com/blogs/3-property-lines/post/60440-downtown-dessert-bar-closes-as-entertainment-venue-gears-up-for-debut

Builder Confidence Matches Post-Crisis High; Rates Getting Nervous Ahead of Fed; Fannie/Freddie Changes

Mortgage Rates were unchanged for a third straight day, although several lenders did raise rates at the end of the day. That can happen when underlying bond markets (which dictate mortgage rates) move by a certain amount. There's no set formula for the amount of movement that will result in any given lender changing rates in the middle of the day, but it's not uncommon to see the less aggressive lenders simply wait for tomorrow before adjusting rates to match market conditions. All of the above is a fancy way of saying that rates would be slightly higher tomorrow if bond markets don't change between now and then. Lenders continue quoting conventional 30yr fixed rates of 3.5% on top tier scenarios, with the runners-up being 3.625% and 3.375% in that order. Keep in mind that Wednesday afternoon

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http://www.mortgagenewsdaily.com/reports/newsletter/2016/9/19/2403

Home Design Trends to Watch: The Herringbone Pattern

Photo courtesy of Laura AnnDiaz of Laura Diaz’s Photography and Mandie Maguire, Berkshire Hathaway Home Services

By Melissa Dittmann Tracey, REALTOR® Magazine

Herringbone is emerging as the pattern of choice in 2016. Herringbone is the arrangement of rectangles that is so named for its resemblance to the bones of fish.

This pattern is popping up on everything from hardwood floors, kitchen backsplashes and shower walls. It may be subtle or bold.

Mandie Maguire with Berkshire Hathaway Home Services says she’s noticed the herringbone pattern subtly appear on more kitchen marble backsplashes above a kitchen range. Also, in flooring, the herringbone pattern is being used with tile floors to give it a more rustic — even hardwood floor resemblance.

Photo by Braswell Design+Build – Look for traditional bathroom pictures

Photo by Divine Custom Homes – Look for transitional hallway design inspiration

Photo by Neumann Lewis Buchanan Architects – Discover traditional entryway design inspiration

Photo by Croma Design Inc – Look for contemporary kitchen pictures

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Rates Eerily Calm Ahead of Fed Week; PMI Resurgence Could Force FHA to Cut Premiums

Mortgage Rates were unchanged again today, on average. Some lenders were modestly better than yesterday. Others were modestly worse. But all were fairly close. This is an eerie level of stability given the fact that rates looked like they were finally breaking out of a 2-month-long holding pattern earlier this week. That said, it could be the case that rates are simply waiting for next week's policy announcement from the Fed before locking in their final answer. While stability is good, the outright levels are still higher than they were. In fact, with the exception of Monday, this week's rates are the highest in more than 2 months. Silver lining: "high" is still pretty darn low, historically, with 3.5% remaining the most prevalent conventional 30yr fixed quote on top tier scenarios. Potential

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http://www.mortgagenewsdaily.com/reports/newsletter/2016/9/16/2399

The Fall Market - Show 397

Real Estate Today Radio - SHOW 397

On this week's Real Estate Today, it's our special show "The Fall Market."

This Week's Show Includes:
- Top News Of The Week
- Fall Maintenance
- Adam's Favorite Time of Year
- Ask The Millennial
- Smart Home Technology
- Get REALTOR(R)

Become a part of the community at http://retradio.com!

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Lenders Anticipate Higher Profits, Less Drag from Compliance Costs; Rates Remain Near Recent Highs

Mortgage lenders are feeling more positive about profits this quarter than they did in the second quarter with 28 percent of those surveyed by Fannie Mae expecting an increase over the next three months. Seventeen percent expect lower profits and 55 percent do not anticipate a change. It was the third straight quarter that lenders reported a net positive profit margin outlook, and was a significant increase from the third quarter of 2015. The largest year-over-year increases in net profit margin outlook were seen among smaller institutions and credit unions. Fannie's third quarter Mortgage Lender Sentiment Survey asked the optimistic respondents what they expected would drive their higher profits and the top two reasons given were operational efficiency and technology and consumer demand. The

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Tesla to open first Indy service center

The upscale electric car company plans to begin renovating a 26,000-square-foot building next month on the north side and should open the shop by the end of the year.

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Texas Rules Zillow's List of the Best Cities to Be a Kid

Corpus Christi, Fort Worth, San Antonio and Dallas, Texas all appear on Zillow's list of the best cities for kids - places with plenty of theme parks, big yards and other playmates.

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Tuxedo Cabinets, Hidden Appliances and Wood Paneling Among Top Kitchen Trends for 2016

Speckled granite, short cabinets and dark wood headed out of style, according to Zillow Digs Home Trend Forecast

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Lower FICO Buyers Head For The Hills; Rates Recover but Face More Volatility; Lender Re-enters Wholesale

The return of Americans to urban living, while well documented, may be a "head-fake" as far as the mortgage industry is concerned. Sam Khater, CoreLogic's Deputy Chief Economist says that inbound migration is happening, but not precisely in the way many think. This return to the cities has been driven by educated and affluent households, he says, which is leading to a concentration of wealth in cities and inner suburbs and that is driving home prices higher. CoreLogic looked at the 20 largest MSA's, dividing the suburban areas in each into three equally weighted rings based on the percent of residential properties. This allowed an analysis where rings could be "fluid and expansive" in sprawling areas like Houston but small and compact in smaller, denser markets. During the last two decades

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Wells' Penalty Implications; Rates Still Pushing Into Post-Brexit Highs; 5 States, 40 Percent of Completed Foreclosures

Mortgage Rates were only slightly higher today, and in some cases were right in line with yesterday's. In fact, if you caught a lenders' rate sheet earlier this morning, chances are it was in better shape than yesterday. That stood to reason, considering bond markets (which drive mortgage rates) were also in slightly better shape to start. But bonds tanked in the afternoon (meaning prices fell, and yields rose), thus implying higher rates. When bond markets move enough during the day, lenders often ' reprice ' and send out updated rate sheets. That was indeed the case today, but the changes didn't leave us in significantly worse shape than yesterday. That's the positive way to look at it. The negative way is to observe that rates moved just a little bit more into the highest levels in more

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High-profile chef targeting Fountain Square for Japanese eatery

Neal Brown of Pizzology and The Libertine is nearing a lease deal to occupy the former Skip's Market building and hopes to open Ukiyo in the spring.

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College Students Can Expect Highest Off-Campus Housing Costs in Palo Alto and Princeton, Lowest in St. Louis

In collaboration with U.S. News & World Report, Zillow identified highest and lowest off-campus housing costs for top colleges named on U.S News' Best Colleges of 2017

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Sneak Peek: The ‘It’ Paint Color for 2017

Sherwin-Williams Poised Taupe (SW 6039)

By Melissa Dittmann Tracey, REALTOR® Magazine

Time to paint the house taupe. Sherwin-Williams revealed its 2017 Color of the Year: Poised Taupe (SW 6039).

The company expects the brownish-gray hue to become the year’s go-to color for home interiors.

Taupe marks a departure from the company’s mostly cool-toned neutrals it has tended to favor recently. A 2016 industry survey suggests a transition from grey to taupe. Nearly 40 percent of survey respondents said they would like to use warmer neutrals – such as warm grays, taupes, or beiges – in their home’s colors. What’s more, about two in five respondents said taupe was the neutral they would most choose.

For a perfect pairing, Sherwin-Williams designers recommend combining Poised Taupe with pastels, brights, and jewel tones (such as a faded indigo hue for a French countryside look or combine it with a teal or sunny yellow for a more bold impact).

“Poised Taupe celebrates everything people love about cool gray as a neutral, and also brings in the warmth of brown, taking a color to an entirely new level,” says Sue Wadden, director of color marketing for Sherwin-Williams. “Not cool or warm, nor gray or brown, Poised Taupe is a weathered, woodsy neutral bringing a sense of coziness and harmony that people are seeking.”

Take a look.

Photo courtesy: Sherwin-Williams

Photo courtesy: Sherwin-Williams

Photo courtesy: Sherwin-Williams

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Mortgage Rates Spike to 2-Month Highs; Millennials Will be Renting a Lot Longer

Mortgage Rates continued sharply higher today, as financial markets quickly adjust their outlook for global monetary policy (the rate-setting and asset purchases among central banks like the Fed). The move began with yesterday's announcement and press conference from the European Central Bank (ECB). If you remember the analogy of the Federal Reserve "taking away the punchbowl"--an allusion to accommodative monetary policy--the ECB essentially passed on the opportunity to reassure markets about the availability of its own punchbowl. Long story short, central banks have been juicing financial markets with low interest rates and free money in the form of asset purchases (e.g. "QE" in the US). Financial markets are having a tantrum because they see yesterday as the first clue that the ECB might

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Millennials - Show 396

Real Estate Today Radio - SHOW 396

On this week's Real Estate Today, it's our special show "Millennials."

This Week's Show Includes:
- Top News Of The Week
- The Three Gens
- Do You Really Need a Smart Home?
- Ask The Millennial
- Smart Home Technology
- Get REALTOR(R)

Become a part of the community at http://retradio.com!

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San Francisco Is One of the Most Popular Housing Markets Among Non-Residents

While San Francisco is a common home search among those who don't live there, many locals are searching elsewhere.

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Rates Rise Thanks to Europe; Mortgage Credit Availability Tightens

Mortgage Rates bounced highe r today, bringing them back in line with the pervasive range of the past several weeks. As of yesterday, rates were technically at 2-week lows. The ultra-narrow range continues to be an important caveat for any discussion of rate movement. Simply put, there is such a small gap between 2-week highs and 2-week lows that it could be easily traversed on an average day of movement. Most lenders continue to offer conventional 30yr fixed quotes around 3.375% on top tier scenarios. Today's chief concern for bond markets (which underlie mortgage rate movement) was European Central Bank (ECB) chief Mario Draghi, who stopped short of promising an extension of the central bank's bond buying program set to end in March 2017. The program is similar to the Fed's past efforts with

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Alabama firm seeks to build student housing complex on downtown IU site

Capstone Collegiate Communities LLC wants to demolish a building at the north end of the Central Canal to make room for a four-building student-housing complex with 285 units and 800 beds.

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Rates Lowest in Several Weeks; Imbalances in Construction; Housing Sentiment Ebbs

Mortgage Rates moved lower today at a slightly better pace than the recent norm. That's not saying much in the bigger picture, because "the norm" has been almost zero movement in either direction for several weeks. Such a narrow range makes it possible to move from the high end to the low end with relatively little effort, and that's exactly the case today. In fact, you'd have to go back nearly a month to see rates any lower, even though the highest rates of the past month might be exactly the same, depending on the lender. How can the lowest rates be the same as the highest rates? It's a semantics issue, really. When we talk about "rates," we're referring to the cost associated with financing a home purchase or refinance. Almost all lenders offer rates in 0.125% increments, but markets rarely

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Q2 Originations hit Three Year High; Maybe Home Prices Aren't Decelerating; Rates Fall

First lien mortgage originations reached their highest level in the second quarter of 2016 of any single quarter since the same period in 2013. Black Knight Financial Services, in its latest Mortgage Monitor , said the strong numbers were due to both a growth in home purchases and a new wave of interest rate-driven refinancing, Originations in the second quarter totaled $518 billion with purchase mortgage originations accounting for $297 billion of the total, a 57 percent share. This was a gain of 52 percent or $102 billion from Quarter 1 and was the highest level in both volume and dollar amount since 2007. Refinancing volume for the quarter was $221 billion. While an increase of 8 percent from the previous quarter the volume was down slightly from a year earlier. Black Knight Executive Vice

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Let’s Talk Quartz: There’s Good Reason To

Photo by Cory Holland and designed by Sandra Gjesdahl and Scott Gjesdahl

By Melissa Dittmann Tracey, REALTOR® Magazine

Granite no longer reigns. The most popular countertop material remodelers say they’re using is quartz, then followed by granite.

In 2015, 89 percent of National Kitchen and Bath Association members said they used quartz in their kitchen remodeling projects. Meanwhile, granites popularity has been declining over the last four years.

Quartz’ durability is winning over more fans; it’s known as being more resistant to heat and scratches. Plus, the resemblance to marble and its abundant color variations is also making it a more appealing option, says Mandie Maguire, an interior designer and broker associate with Berkshire Hathaway Home Services in Park Ridge, Ill.

Barbara Nazzaro, owner of A Simply Staged Home in the Boston area, also notes a trend toward more home owners opting for simple “waves” in the quartz countertop design finishes, moving away from the small fleck designs that have dominated.

transitional kitchen countertops

traditional kitchen countertops

modern kitchen countertops

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Rates Remain Near Recent Highs After Jobs Report; Credit Underwriting Guideline Changes

Mortgage Rates were steady to slightly higher today, depending on the lender--a relative victory considering the potential volatility associated with today's jobs report. Though bigger bullets may have been dodged, the lack of improvement means rates remain near their highest levels in several weeks--potentially on the verge of the next "directional trend." What's a directional trend? Just a fancy way of labeling the phenomenon where rates are moving either higher or lower fairly consistently. In stark contrast, the past 2 months have been almost completely directionless--a "sideways trend" if you will. When it comes to financial markets, these sorts of sideways trends--especially those that bring rates into an increasingly narrow range --tend to resolve with the beginning of the next big push

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Your Smart Home - Show 395

Real Estate Today Radio - SHOW 395

On this week's Real Estate Today, it's our special show "Your Your Smart Home."

This Week's Show Includes:
- Top News Of The Week
- Where Is Smart Home Tech Heading?
- Do You Really Need a Smart Home?
- Ask The Millennial
- Smart Home Technology
- Get REALTOR(R)

Become a part of the community at http://retradio.com!

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Rates Face High Stakes in Jobs Report; Construction Spending Flat; Housing Could Anchor Troubled Economy

Mortgage Rates were slightly higher today, bringing them near their worst levels in several weeks. The caveats are twofold. First of all, the worst levels of the past several weeks are some of the lowest rates in history. Apart from July/Aug 2016 and scattered occasions in late 2012, rates are the lowest they've ever been. Second , recent rate movement has been contained in a tight range, meaning that today's rates aren't that much higher than the lowest rates over the past few weeks. Most lenders continue quoting conventional 30yr fixed rates of 3.375-3.5% on top tier scenarios. If there is one day with the power to cause more meaningful movement, it's tomorrow. In fact, we could easily see the first major break above the recent range if tomorrow's Employment Situation report (aka "jobs report

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Downtown roundup: New eatery taking R bistro spot; Rebar, Salt and Jack’s open

Rooster's Kitchen, featuring bacon-laden comfort food, hopes to open in October in the perch where a longtime Mass Ave favorite once operated.

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Homeowner Confidence High, But Buyers Feel Discouraged by the Housing Market

The majority of renters are eager to become homeowners, but with rising home prices and low supply, few believe they can.

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Pending Home Sales Second Highest in 10 Years; Rates Remain Exceptionally Flat

Despite some predictions that pending home sales would fall in July, they actually rose modestly to reach their second highest level in over a decade. The National Association of Realtors® reported that its Pending Home Sales Index (PHSI) was up 1.3 percent to 111.3 from a downwardly revised (from 111.0) 109.9 in June and was up 1.4 percent compared to July 2015. The index had reached its highest level since February 2006 this past April when it hit 115.0. The July index was second only to that number. NAR pronounced the increase in purchase contracts as broad-based ; only the Midwest failed to improve on its June numbers. Analysts surveyed by Econoday had projected the index could be in the range of a 1.8 percent decline to a 1.4 percent gain. The consensus was a positive move of 0.6 percent

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Average Fixer-Upper Home Lists for 8 Percent Discount; Buyers Save Only $11,000 For Renovations

Fixer-uppers in Bay Area and Seattle save buyers the most upfront cash for renovations; Phoenix and Miami fixer-uppers list for lowest cash discount

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Mortgage Bank Profits Double; Price Gains Moderate, Some Metros Shine; Rate Range Considerations

Mortgage originators surveyed by the Mortgage Bankers Association (MBA) saw production profits more than double in the second quarter compared to what had been a dismal Quarter One. Independent mortgage banks and mortgage subsidiaries of chartered banks told MBA they had averaged a net gain of $1,686 on each loan originated during the quarter, up from $825 per loan during the previous period. Marina Walsh, MBA Vice President of Industry Analysis, commented in the company's Quarterly Mortgage Bankers Performance Report that "Production profits more than doubled in the second quarter of 2016, as production volume rose and expenses dropped to a level not seen since the third quarter of 2015. Mortgage lenders also benefited from higher loan balances that reached a series-high of $245,394 and drove

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Rates Battle Back From Recent Highs; Non-Conventional Financing in New Home Market

Mortgage Rates were briefly at their highest levels in several weeks on Friday afternoon. This followed comments from the Fed's Jackson Hole symposium. Markets interpreted those comments as the Fed being more likely to hike rates in 2016--possibly even twice! While mortgage rates are based on MBS (mortgage-backed-securities), as opposed to the Fed Funds Rate (the thing the Fed is talking about hiking), if investors think the Fed is more likely to hike, MBS tend to lose some ground. Friday was made all the more "spooky" by the fact that much of the drama was transpiring in the afternoon on a summertime Friday. That may not sound too spooky , but for investors who are used to having lots of other investors to trade/buy/sell with, the comparative ghost town of a summertime Friday afternoon can

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Subway Tile Makes a Comeback in Kitchens, Baths

Photo credit: Karen Eubank, Eubank Staging & Design

By Melissa Dittmann Tracey, REALTOR® Magazine

Glassy subway tile is nothing new, but it’s coming back stronger in kitchens and bathroom remodels in whites or bolder geometric patterns.

“It’s classic, and a classic always remains,” says Karen Eubank, an interior designer with Eubank Staging & Design in Dallas. Richard Hoey, president and CEO of Active Renter, a property management company that renovates single-family homes, says he’s noticing a change from simple, white subway tile to the use of more eccentric geometric shapes, such as in the kitchen where the rest of the space has a minimalist design.

“The juxtaposition between the overall simplicity of the room and the energy of the tiles really makes them stand out as a centerpiece,” Hoey says.

Photo by Wettling Architects – Look for beach style bathroom design inspiration

Photo by Rebekah Zaveloff | KitchenLab – Browse traditional kitchen photos

Photo by Fiorella Design – Browse traditional kitchen photos

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PMI Insurers Winning FHA Smackdown; Rates Higher After Fed Speakers

Among the charts and tests summarizing most of the housing finance news that emerged during July, the latest issue of the Urban Institute's (UI's) Housing Finance Chartbook contained a few unique visualizations. First, loans featuring coverage by private market insurers (PMI) surpassed the market share of loans insured by FHA for the first time in two years. This switch is apparently due to the April adjustment of PMI premiums, which dropped the cost for low risk borrowers and raised them for those with a higher credit risk profile. There has probably also been some impact on the distribution from some larger lenders who have focused on marketing the lower down payment opportunities offered through new GSE products. Whatever the reasons, the PMI industry's share of originations increased from

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