Fannie's Eases Debt-to-Income Requirements; Pending Sales Fall; Selling is Costly; Rates Near 2-Week Lows

Fannie Mae has announced changes in underwriting for loans submitted to its Desktop Underwriter (DU), Version 10.1. The new DU version will be implemented on or after the weekend of July 29 . The changes are outlined in release notes issued on Tuesday and will apply to new loan casefiles submitted to DU on or after the weekend of July 29, 2017. Loan casefiles created in DU Version 10.0 and resubmitted after the weekend of July 29 will continue to be underwritten through DU Version 10.0. Among the more significant changes accompanying the new version are the following. The maximum allowable debt-to-income (DTI) ratio that can be submitted in DU will be 50% . For DTIs between 45 and 50 percent, certain additional compensating factors will no longer be required. Cases exceeding a 50 percent DTI

from
http://www.mortgagenewsdaily.com/reports/newsletter/2017/5/31/2818

Foreign Buyers Influencing Home Luxury Market

The overall housing market is not strongly affected by international buyers

from
http://zillow.mediaroom.com/2017-05-31-Foreign-Buyers-Influencing-Home-Luxury-Market

Rates Near Long-Term Lows; Prices Continues Rising; Comp Adjustments' Distorting Value?

Mortgage rates remained relatively unchanged again today. This continues the sideways trend leading into Memorial Day weekend. As the current week progresses, we can expect to see volatility increase thanks to the presence of more significant economic data. In general, bond markets (which underlie mortgage and other rates) react to strength or weakness in economic data. The more important the report and the bigger the margin by which it misses or exceeds expectations, the more movement is implied in bond markets (and thus "rates"). Friday brings the most important economic report of the month: the Employment Situation. This is the big "jobs report" that includes nonfarm payrolls (a measurement of how many jobs the economy is adding or losing) as well as the unemployment rate. In modern economic

from
http://www.mortgagenewsdaily.com/reports/newsletter/2017/5/30/2816

10 Reasons Indy Appeals to Foodies

Indianapolis may not have a food scene that can rival Chicago or New York City. However, it's growing and more great restaurants and bars are popping up all throughout the city. Here are ten great reasons why the city appeals to foodies. Hotel Tango - 702 Virginia Avenue Serving a number of great drinks, the Hotel Tango distillery offers a rustic type of place with beautiful brick walls and a stone fire place. It's a great place for a drink with choices, such as the Gunsmoke Old Fashioned. Indianapolis City Market - 222 East Market Street It has been compared to the North Market in Columbus, Ohio or the Pike Place Market in Seattle. The Indianapolis City Market provides a great food hall in the city. It's long been a top place to go and has evolved into a place full of incredible smells, tastes and dishes all throughout. Many restaurants and vendors have opened up here to provide foodies with something unique. Spoke & Steele - 123 South Illinois Street Found on the lobby level of the Le Meridien Hotel in Downtown Indy, Spoke & Steele provides many ambitious drinks. This isn't the place for your boring classics. Instead, you'll find unique drinks served in elegant glassware, all throughout the menu. Tinker Street - 402 East 16th Street Tinker Street is found in a Queen Anne-style home and provides a unique dining experience. The dishes are rather eclectic with options, such as miso broiled oysters, quinoa-studded falafel and more. They also provide a good wine list and plenty of great desserts. Ezra's Enlightened Cafe - 6516 Ferguson Street Nothing like the typical meat-and-potatoes restaurants most know the Midwest for, Ezra's Enlightened Cafe provides great vegan dishes, smoothies and baked good. It's a place for fresh dishes made from local ingredients with all kinds of great choices. The Buddha Bowl is one of the top choices served with honeyed kale, organic greens, fermented vegetables, raw falafel and carrots. Locally Grown Gardens - 1050 East 54th Street Locally grown ingredients, this year-round farmer's market provides some of the best in-season produce and so much more. The menu here rotates with options, such as free-range chicken, pulled ort and more. Of course, the sugar cream pie is a staple here and one everyone should try. Garden Table - 342 Massachusetts Avenue & 908 East Westfield Boulevard A newer choice in Indianapolis, Garden Table provides an all-day eatery with pressed juices, vegetal dinners and so much more. It's a great place for the vegan and vegetarian foodies looking to try something new. Flat12 Bierwerks - 414 Dorman Street It's a very unique option, but Flat12 Bierwerks has Smoking Goose on the beer menu, which is one of the best you'll find. It's a tasty place to get a brew and provides some of the top options in the entire state. They usually have some limited releases available and even serve up noncarbonated brews. Love Handle - 2829 East 10th Street If you want to be pleasantly surprised, head to Love Handle. This spot provides a sandwich shop unlike anything you'll find elsewhere. The Angel Crusto is one of the top choices and many other great choices are found on their menu. Bluebeard - 653 Virginian Avenue Bluebeard was one of the restaurants starting the food craze in Indianapolis. It's a seasonal choice using ingredients from local farms and purveyors. The menu changes regularly and they do provide a number of great cocktails. There are several other great reasons why foodies love Indianapolis. It may not be on par with the big cities yet, but for a second-tier city, Indy has become one of the most popular choices for foodies to enjoy.  

from
http://www.hometoindy.com/blog/10-reasons-indy-appeals-to-foodies/

Make That Home Greener: Energy-Efficient Mortgages

By Michele DiGirolamo, Guest Contributor from MoneyGeek.com 

If you’re in the market for a new home, there’s a way to save the environment and some cash at the same time: Consider a “green” mortgage.

An energy-efficient mortgage (EEM), the umbrella term for these types of loans, allows buyers to fold expenses for energy-saving home improvements into their mortgage.

Photo credit: Shutterstock

EEMs are an option if you’re buying or building a home and you want to add energy-efficient features, if you’re refinancing a mortgage for a home you already own and want to add energy-efficient renovations, or if you’re buying a new home that is already energy-efficient.

The idea is that, in the long run, the money saved on monthly utility bills will offset the higher mortgage payment. The projected energy savings from the lower bills could also qualify buyers for a larger loan amount and a better, more energy-efficient home.

And at the point of resale, homeowners will likely benefit again, as the energy upgrades can boost the home’s value and attract buyers in a competitive market.

Improving Your Home’s Energy Efficiency

Green mortgages can be used to finance a range of energy-efficient upgrades, from weather stripping to new heating and cooling systems to double-pane windows and solar panels.

A required home energy audit provides recommendations for energy-saving improvements and estimates of the costs and savings of those improvements. Lenders use this information to determine how much you’ll save in energy costs with each improvement.

Fannie Mae, the Federal Housing Administration, and the Department of Veterans Affairs all offer a version of EEMs. The amount of energy improvements a borrower can finance varies by program, ranging from about 5 percent of the value of the property through an FHA loan to around 15 percent with a conventional mortgage. A VA EEM, available to military personnel, caps energy improvements at $3,000 to $6,000.

Understanding the Green Mortgage Lending Process

While securing an EEM can be fairly simple for the borrower, it can be cumbersome for lenders unaccustomed to the process of managing the “work flow” of the energy improvements, says Tonya Todd, senior vice president of strategic products at Mountain West Financial in Redlands, California. This may be why they aren’t more common.

“The loan itself is easy; it’s the facilitation that takes some work,” Todd says. “Lenders that are successful at this will find a local energy-efficient mortgage facilitator. The facilitator handles everything from A to Z to ensure a smooth and timely process for all parties.”

The facilitator works with the buyer, the energy rater, the contractor, the realtor and the lender to keep everything moving to avoid delays.

“After closing, the facilitator will ensure the installation of the energy improvements are completed,” she adds. “It just makes everything much smoother.”

So, if you’re interested in pursuing an EEM, go for it — just be aware you may have to put some effort into finding a lender.

“Niche lenders do offer these programs and do them well,” Todd says. “However, a lot of lenders do not offer them because they do not understand the operational component, or they don’t have the support system internally.”

More Homeowners Are Going Green

While they’ve been around in some form since the 1990s, eco-friendly mortgages even today are not particularly well-known. But that could be changing, Todd says.

“Energy-efficient measures are becoming more popular especially as homeowners are purchasing older homes that may not be so environmentally friendly,” Todd adds. “People are more aware of being green. That’s why homeowners are looking for features that will help them save energy.”

The average household spends more than $2,200 a year on energy bills, with nearly half of that going to heating and cooling costs, according to the U.S. Department of Environmental Protection’s Energy Star program. There are significant savings to be had by improving a home’s energy efficiency.

Other Ways to ‘Green’ Your Home

Even if you’re not in the market for a green mortgage, there are measures you can take around your house to save energy and reduce your utility bills. The following are some tips — some simple, some more involved — from the Energy Star program and other experts:

• Turn your hot water heater’s thermostat to 120 degrees Fahrenheit.
• Keep your refrigerator at 37-40 degrees and freezer at 5 degrees.
• Install and properly use a programmable thermostat (this can save about $180 annually).
• Install low-flow fixtures.
• Do only full loads in the washer and dishwasher.
• Fix any leaky faucets, toilets, pipes, and your roof.
• Seal heating and cooling ducts (in the typical house, about 20 percent of the air in a duct system is lost due to leaks, holes, and poorly connected ducts).
• Seal the “envelope” of your home – the outer walls, ceiling, windows, and floor (this can save 20 percent on heating and cooling costs).
• Replace the filters on your air conditioning unit, dryer, and furnace.
• Turn off ceiling fans when you’re not home.
• Set ceiling fans counter-clockwise in the summer to draw cooler air upward.
• Dust your refrigerator coils.
• Plant shade trees to cool your home.
• Request a home energy audit for more tips and advice.

ABOUT THE AUTHOR: Michele DiGirolamo is a former longtime reporter for United Press International and a freelance writer for MoneyGeek.com.

from
http://styledstagedsold.blogs.realtor.org/2017/05/29/make-that-home-greener-energy-efficient-mortgages/

Real Estate In The Military - Show 433

Real Estate Today Radio - SHOW 433

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

This Week's Show Includes:
- Top News Of The Week
- One Way to Observe Memorial Day
- Are You Flying the American Flag Correctly?
- Ask The Millennial
- Smart Home Technology
- Get REALTOR(R)

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

from
http://retradio.com

Rates Coast Into Extended Weekend; Wages and Inflation; Fed's Impact on Mortgages

Mortgage rates didn't move much today. Lenders that made detectable adjustments generally did so in a moderately positive direction. While this isn't remotely enough to make a difference in the actual NOTE rate on a mortgage quote, it could make for microscopically lower upfront costs (thereby affecting the "effective" rate). As far as note rates are concerned, most lenders continue quoting conventional 30yr fixed rates in a range centered on 4.0%. In terms of economic data--something that typically moves bond markets (and thus rates)--there were two key reports this morning. The 1st revision of Q1 GDP was slightly stronger than expected, rising to 1.2% from 0.7% previously. A separate report, Durable Goods Orders, was also stronger than expected, but contained some internal components that

from
http://www.mortgagenewsdaily.com/reports/newsletter/2017/5/26/2812

Rates Improve as Lenders Catch up; Freddie Mac Pulls a 180 in Housing Outlook

Mortgage rates fell today despite relatively uneventful movement in underlying bond markets (which drive day to day changes in rates). The net improvement can be explained by the timing of yesterday's improvement. Simply put, bonds improved late in the day (following the 2pm release of the Fed Minutes). That market improvement was too late in the day for some lenders to reissue rate sheets. Lenders who DID improve yesterday afternoon nonetheless held back just a bit, as it's customary to make sure late day market gains stick around the following morning before fully adjusting rate sheets to reflect the gains. For the average borrower at the average lender, this equates to a modest reduction in the upfront costs associated with the same old rates that have been in play all week. Most lenders

from
http://www.mortgagenewsdaily.com/reports/newsletter/2017/5/25/2810

New renderings show plans for Mass Ave's Bottleworks taking shape

Designs for the $260 million project are being submitted to city officials for review in monthly waves. The latest include the movie theater and residential and commercial buildings.

from
https://www.ibj.com/blogs/3-property-lines/post/63954-new-renderings-show-plans-for-mass-aves-bottleworks-taking-shape

National Home Values Surpass Peak

The median home value across the country is now $198,000, 1 percent higher than peak value hit in April 2007, according to the April Zillow® Real Estate Market Reports

from
http://zillow.mediaroom.com/2017-05-25-National-Home-Values-Surpass-Peak

Rate Pressure Pauses After Fed; Inventory Issues Hurt Existing Sales; Price Gains Decelerate

Mortgage rates moved moderately higher this morning, beginning the day at the highest levels in roughly 2 weeks. Afternoon events helped underlying bond markets bounce back, however, resulting in several lenders issuing positive reprices. This means that some lenders are in slightly better shape vs yesterday while others remain in worse shape. All things being equal, any lender who did not adjust rate sheets this afternoon would have incentive to offer bigger improvements tomorrow morning. The key consideration for interest rates was today's release of the Minutes from the most recent Fed meeting. The Minutes provide a more detailed account of the meetings where the Fed officially sets monetary policy. The policy statement is several hundred words while the Minutes are several thousand words

from
http://www.mortgagenewsdaily.com/reports/newsletter/2017/5/24/2808

Musk’s Kitchen group opening eatery in Meridian-Kessler

The Colorado-based company co-founded by entrepreneur Kimbal Musk confirmed on Wednesday, after months of speculation, that it will open Next Door in a former Double 8 Foods store.

from
https://www.ibj.com/blogs/3-property-lines/post/63936-musks-kitchen-group-opening-eatery-in-meridian-kessler

Zillow Launches $1 Million Zestimate Competition for Data Scientists

Zillow publishes Zestimates for 110 million homes; Participants in Kaggle-hosted contest will compete for $1.2 million in total prizes, the largest prize pool ever awarded in a machine learning competition

from
http://zillow.mediaroom.com/2017-05-24-Zillow-Launches-1-Million-Zestimate-Competition-for-Data-Scientists

Housing Gets Off to a Good Start

Despite weak economic growth, housing got off to a good start in 2017. This is in part because interest rates have been a bit of a surprise, drifting down since March. More

from
http://www.freddiemac.com/research/outlook/20170524_housing_off_to_good_start.html?attr=rssCB

New Parkwood Crossing owners spending $6M on amenity center

The two-story facility in the north-side office park—recently purchased for $163 million—will feature a 6,000-square-foot fitness center and other perks.

from
https://www.ibj.com/blogs/3-property-lines/post/63924-new-parkwood-crossing-owners-investing-6m-in-amenity-center

Zillow Testing “Zillow Instant Offers” in Las Vegas and Orlando

from
http://zillow.mediaroom.com/press-releases?item=137315

Infographic: How to Stage a Home on a Budget

Provided by Principal Homebuyers

 

from
http://feedproxy.google.com/~r/StyledStagedSold/~3/ZJMUcrqNNBg/

Roundup: Drew Brees' sports bar scouting Indy locations; Tim Hortons nabs third site

Louisiana-based Walk-On's, partly owned by the star quarterback, is expanding via franchising, while Tim Hortons builds on its presence in Indy.

from
https://www.ibj.com/blogs/3-property-lines/post/63897-roundup-drew-brees-bar-chain-scouting-indy-locations-tim-hortons-nabs-third-site

Rents are Rising in the Suburbs

Many renters are looking outside of city centers for more affordable housing, causing rent payments to grow faster in the suburbs than urban areas

from
http://zillow.mediaroom.com/2017-05-19-Rents-are-Rising-in-the-Suburbs

Millennials - Show 432

Real Estate Today Radio - SHOW 432

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

This Week's Show Includes:
- Top News Of The Week
- The Gift Letter
- Who ELSE is out there?
- Ask The Millennial
- Smart Home Technology
- Get REALTOR(R)

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

from
http://retradio.com

New plans emerge for former Omar Bakery site on East 16th

A homebuilder wants to tear down the vacant, century-old building and construct 34 townhomes on the site, which is in the middle of an area on the rise.

from
https://www.ibj.com/blogs/3-property-lines/post/63862-new-plans-emerge-for-former-omar-bakery-site-on-east-16th

U.S. Homeowners Can Spend $15,000 in Hidden Costs to Sell a House

From closing costs to basic home prep projects like carpet cleaning and staging, homeowners can spend between $10,000 and $55,000 to sell a house, depending on location

from
http://zillow.mediaroom.com/2017-05-18-U-S-Homeowners-Can-Spend-15-000-in-Hidden-Costs-to-Sell-a-House

New Home Sales Contract Sharply; HUD Budget Implications; Lots of Newly-Built Homes, but the Wrong Kind

Mortgage rates began the day in decent shape with the average lender roughly unchanged versus yesterday. As the day progressed, bond markets (which dictate rates) weakened. Most lenders were forced to reissue slightly higher rates in the afternoon. Any lenders who didn't raise rates this afternoon will instead have to account for the weakness in tomorrow morning's rate sheets. In other words, some lenders will be offering higher rates tomorrow morning, even if markets don't move at all between now and then. Over the past few days, it's not only been easy, but downright logical to dismiss mortgage rate movement as being very small in the bigger picture. While that remains true for today's mortgage rates, today's bond market movement suggests a bit more caution heading into the holiday weekend

from
http://www.mortgagenewsdaily.com/reports/newsletter/2017/5/23/2806

Low and Sideways, Mortgage Rates Play Waiting Game; Bond Markets Hoping For Drama; Households Shift Toward Buying

Mortgage rates were slightly higher for the 3rd straight day, continuing a modest bounce back from the year's lowest rates last Wednesday. In a nutshell, bond markets (which dictate mortgage rates) reacted in a big way to last week's political headlines, and have since been biding their time as markets wait for further developments. In the current case, "biding time" has meant a nominal pull-back from Wednesday's stellar levels--not uncommon in similar cases where unexpected headlines drive a somewhat panicked move in financial markets. While the general movement in rates has been slightly higher, it hasn't lifted rates much above 2017's lows. Especially when considered next to anything before last Wednesday, recent rate offerings have been low and the trend has been sideways . Most lenders

from
http://www.mortgagenewsdaily.com/reports/newsletter/2017/5/22/2804

Mortgage Rates Higher, Volatility Looms; GSE Reform vs Housing Finance Reform

Mortgage rates continued higher for the 2nd straight day after hitting the lowest levels in more than 7 months earlier this week. Wednesday's big move lower was a direct result of political headlines relating to potential wrongdoing in communications between Trump and former FBI Director Comey concerning the FBI's investigation into former National Security Advisor Flynn's communication with Russia. Specifically, financial markets perked up when a story broke suggesting that the House Oversight Committee could easily demand these records. The most widely-discussed implication (assuming wrongdoing were to be confirmed) was potential impeachment. Several lawmakers went so far as to make promises to that effect via twitter and other media. What does all this have to do with mortgage rates? Rates

from
http://www.mortgagenewsdaily.com/reports/newsletter/2017/5/19/2801

Refis Hurt More During Crisis; Pull-Through Declines; Rates Rise From 7-Month Lows

Conventional wisdom, the lending version, holds that refinance loans are inherently less risky than purchase loans, but a recent analysis from the Urban Institute (UI) refutes this contention. In fact, Linda Goodman, Co-director of UI's Housing Finance Policy Center says rampant refinancing probably played a major role in the housing crisis. Goodman, writing in UI's Urban Wire blog says despite ample evidence that it was risky products rather than lending to riskier borrowers that majorly contributed to the crisis, many continue to blame government policies toward homeownership. However, at the height of the boom it was refinanced loans that were more likely to default. This was largely due to people treating their homes as ATMs through cash out refinances. Eighty-four percent of refinances

from
http://www.mortgagenewsdaily.com/reports/newsletter/2017/5/18/2799

Rates Respond to Scandal by Plummeting to 2017 Lows; HARP Still Helping; Future of FICO

Mortgage rates surged significantly lower today, as a part of a broad-based market movement following a political scandal that began taking shape yesterday afternoon. You can choose your preferred media outlet to digest all of the details, but the issue surrounds communications between Trump, former FBI Director Comey, and the potential for the details of those communications to be demanded by House Oversight Chair Chaffetz. The most scandalous and sensational endgame to all of this would be potential impeachment--a fact you couldn't help but hear or see if you heard or saw any news anywhere today. But financial markets are probably reacting more to the fiscal policy implications. Simply put, today's news headlines cast further doubt on the new administration's ability to rapidly enact the

from
http://www.mortgagenewsdaily.com/reports/newsletter/2017/5/17/2797

Mortgage Rates Back at 2-Week Lows; State-Level Guideline Changes; Housing Permits and Starts Miss Forecasts

Compared to yesterday, mortgage rates are either a little bit higher or lower depending on the lender at the moment. On average, they've inched just past last Friday's levels, meaning they're the lowest in 2 weeks . As nice as that sounds, it's worth noting that we're really splitting hairs here. Most anyone pricing out a mortgage right now won't see any difference in their rate quote over the past few days. The biggest drop occurred last Friday and we haven't seen appreciable movement since then. Most lenders continue to quote conventional 30yr fixed rates in a range of 4.0-4.25% for top tier scenarios, with 4.125% being the most prevalent. 4.0% is the runner-up and the laggards are still up at 4.25%. In the bigger picture , we've been looking for confirmation that the recent trend toward

from
http://www.mortgagenewsdaily.com/reports/newsletter/2017/5/16/2795

Rates Mostly Hold Last Week's Gains; Prices Up in Most Metros; New Home Purchases Ebb; Builder Confidence Up

Mortgage rates were s teady to slightly higher today, largely maintaining the improvements seen last week. Underlying financial markets were calm and very few lenders adjusted rate sheets during the day. Last week's gains happened all at once on Friday. They fully erased an entire week's worth of rising rates. That said, most of the movement in recent weeks has occurred in a very narrow range overall. The average borrower will have seen a quarter of a percentage point of movement at the most. When rates fell last Friday, we were looking to the current week in order to confirm the potential shift in momentum. Today's minimal weakness, at the very least, suggests the previous trend toward higher rates from mid-April has shifted into a more sideways pattern. It's still too soon to conclude that

from
http://www.mortgagenewsdaily.com/reports/newsletter/2017/5/15/2793

Rates Surge Lower After Downbeat Economic Data; Housing Affordability Ticks UP?!

Most of the movement in mortgage rates had been slow, steady, and generally unfriendly in recent weeks. Today was a stark exception as rates surged significantly lower (relative to their recent range) following weaker-than-expected economic data. Weak economic data tends to help rates move lower, and this morning's reports were the most important of the week (Retail Sales and Consumer Prices). The reaction to the data was swift because investors were waiting to see if it would confirm fears about the direction of rates earlier in the week. Not only did the data fail to confirm the fears, it suggested a completely contrary move . In other words, rates were forced to make a quick course correction. They ended up moving right back in line with last Friday's levels for most lenders. The entire

from
http://www.mortgagenewsdaily.com/reports/newsletter/2017/5/12/2789

Mortgage Rates Leak to 1-Month Highs; FHFA Calls for Big Fannie/Freddie Changes

It's been slow and steady, to be sure, but mortgage rates finally inched their way up to the highest levels in more than a month today, depending on the lender. Some rate sheets were in line with April 9/10th levels while a few lenders were back in territory not seen since March 31st. Interestingly enough, the higher rates arrive amid modest improvement in bond markets. Typically, bond market improvement results in lower mortgage rates, but in today's case, lenders were getting caught up with yesterday afternoon's weakness. In other words, bonds lost ground yesterday and not every lender had the time or will to respond to the market movement in the form of mid-day rate sheet changes. Instead, they waited until this morning to make the adjustment. While the move higher does bring the dubious

from
http://www.mortgagenewsdaily.com/reports/newsletter/2017/5/11/2787

Rates Moved Higher This Afternoon; Refi and Purchase Apps Rose Last Week; Fannie and Freddie Changes

Mortgage rates were steady to slightly higher again today, making it the 13th out of the past 16 business days without an improvement. The situation was more palatable earlier this morning and quite a few lenders were actually in better territory vs yesterday. As the day progressed, bond markets (which dictate mortgage rates) deteriorated, resulting in most lenders issuing negative reprices. All of the above means that some lenders remained in better shape than others , but they assumption is that they would "catch up" to the higher rates with tomorrow morning's rate sheets (assuming bond markets didn't change overnight). As is frequently the case, we're splitting hairs here, because that's what we have to do if we're following day-to-day mortgage rate movement. Most borrowers won't see a meaningful

from
http://www.mortgagenewsdaily.com/reports/newsletter/2017/5/10/2785

Housing Sentiment Springs Back; Rates Trending Higher; High Hopes for Homeownership; Delinquency Shift

After moving along a nearly flat track for several years, consumer sentiment regarding whether "now" is a good time to buy a home started to rise and fall like the tides in late 2016. April saw increasing positives sentiment; the net share of those saying it was a good time gain 5 percentage points to 35 percent after rising and then falling by ten points in February and March. The results of Fannie Mae's National Housing Survey (NHS) also included a shift in the " good time to sell " sentiment, which has always lagged well behind the "buy" responses. Its net percentage began to increase in November and hit a survey high of 31 percent in March but it dropped five points in April. These two questions are among the six from the survey that make up Fannie Mae's Home Purchase Sentiment Index (HPSI

from
http://www.mortgagenewsdaily.com/reports/newsletter/2017/5/9/2782

Mortgage Rates Hold Mostly Steady Despite Market Weakness; Financial Services Committee Confidential

Mortgage rates were generally unchanged today. This is actually quite an accomplishment if you ask the average bond market participant. Mortgage rates are largely determined by bond market movement (specifically, that of Mortgage-Backed Securities or MBS). In the bigger picture, bond markets weakened today. Normally, that would push mortgage rates higher, but today the damage was largely contained in the Treasury sector. There's only so much MBS can do to ignore the suggestion of Treasury momentum, however. So if broader bond markets continue to weaken tomorrow, expect mortgage rates to head a bit higher. Even then, the overall range continues to be exceptionally narrow in the bigger picture. At most, the average quote for top tier 30yr fixed scenarios would only move up from 4.0% to 4.125

from
http://www.mortgagenewsdaily.com/reports/newsletter/2017/5/8/2781

Mortgage Rates Slightly Lower After Jobs Report; Jumbo Loan Trends; Fed on Slow Rate Hike Track

Mortgage rates recovered today, moving sideways to slightly lower after losing ground over the past few days. Today's focal point was the Employment Situation--the big "jobs report" for the month of April. Job creation ended up slightly stronger than expected (211k new jobs created versus a median forecast of 185k). Stronger jobs data typically puts upward pressure on mortgage rates, but in today's case, there were some mitigating factors. The biggest mitigating factor is that rates have simply been moving in a very narrow range, and all the ups/downs we've been discussing in recent weeks aren't tremendously consequential for the average borrower. Beyond that, 211k vs 185k isn't a very big "beat" (+26k). Moreover, the last report was revised from 98k to 79k--a 19k drop, almost fully offsetting

from
http://www.mortgagenewsdaily.com/reports/newsletter/2017/5/5/2777

Rates Higher Ahead of Jobs Report; Fed MBS Exit Key to Affordability; Credit Accessibility Dips

Mortgage rates moved higher today, bringing them back in line with the highest levels in nearly a month. That sounds a bit worse than it actually is, due to the narrow range of rates over that time. In fact, most prospective borrowers would be quoted the same rate as yesterday, with the only difference being slightly higher upfront costs. With extended periods of narrow ranges comes increased odds for a bigger move . There's never any way to tell if such a move will be higher or lower--only that it's more likely. This is especially true as we head into big-ticket events like tomorrow's jobs report. Traders are also tuned in to the weekend's French election results and the various political headlines coming out of Washington. In general, rates had been trending lower through mid-April, and they

from
http://www.mortgagenewsdaily.com/reports/newsletter/2017/5/4/2775

Fed Statement Erases Morning Mortgage Rate Gains; Purchase Apps Not Filling Refi Gap

Mortgage rates ended the day relatively close to ' unchanged ,' depending on the lender. That's somewhat surprising considering the presence of several big-ticket events on today's calendar of potential market movers. Chief among these was the most recent installment of the Fed's policy announcement. While the Fed wasn't necessarily expected to make any policy changes, investors were still scanning for clues about the next Fed statement. In general, the announcement amounted to an optimistic deliver of several pessimistic developments. Some investors were hoping the Fed would pull fewer punches on the pessimistic stuff. In general, economic pessimism goes hand in hand with lower rates. Due to the lack of outright pessimism, rates rose in the afternoon, albeit only slightly. Several lenders

from
http://www.mortgagenewsdaily.com/reports/newsletter/2017/5/3/2773

Home Price Report Defies Odds; Rates Lower Ahead of Fed; Ocwen Restructuring; Homeownership Stumbles

Home prices measured by CoreLogic's Home Price Index (HPI) posted their largest gains in nearly a year in March, continuing to confound the company's own forecasts. The HPI, which includes sales of distressed properties, was up 1.6 percent from February to March. This was the biggest monthly jump since the index gained 1.8 percent from March to April 2016. The January to February increase was 1.0 percent. On an annual basis, the CoreLogic HPI was up 7.1 percent compared to a 7.0 percent year-over-year change in February. The March's increase fell short of December's 7.2 percent advance, the largest advance of 2016. The company is projecting a 0.6 percent appreciation in home prices from March to April and that prices will increase by 4.9 percent on a year-over-year basis from March 2017 to

from
http://www.mortgagenewsdaily.com/reports/newsletter/2017/5/2/2771

Rates' Disproportionate Impact on Refi Pool; Action-Packed Week; Construction Spending Rises

It wouldn't be surprising to find both lenders and consumers suffering from whiplash following the first quarter of 2017. Mortgage rates, which shifted by as much as 30 basis points in either direction during the quarter, took the refinanceable population along for the ride. That population is defined by Black Knight Financial Services in its Mortgage Monitor as homeowners who can both qualify for refinancing and have the motivation to it. In any given week during the quarter, Black Knight says, "relatively small interest rate movements have increased or decreased the size of the refinanceable population by as much as 20 percent." For example, the 30-year fixed rate mortgage dropped below 4.0 percent on April 20 and that increased the refinance pool to 4.1 million, up 46 percent from the 2

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http://www.mortgagenewsdaily.com/reports/newsletter/2017/5/1/2769