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

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.

from
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

from
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.

from
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

from
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

from
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

from
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

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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

from
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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http://www.ibj.com/blogs/3-property-lines/post/60650-roundup-hibachi-bar-opens-in-broad-ripple-primanti-launching-at-circle-centre

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

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