Rent Appreciation Already Peaked; Buyers Not Boomeranging; Rates Hold Mid 3's; BOK Exits Correspondent

As the housing boom ended rents for single-family homes also crashed, going from annual growth of better than 2 percent in late 2007 to -3 percent by the end of 2009. But they began to bounce back long before home sales and prices did so, climbing rapidly into the 4 percent growth range and remaining there for several years. The growth in rents and decreasing rental vacancies spurred a surge in multi-family construction . Housing permits and starts for the sector have frequently been the main drivers of residential construction numbers. At the same time the tide of foreclosures caused many single-family properties to convert to rentals and many former homeowners to become renters as large and small investors stepped in to buy houses out of lender inventories. CoreLogic Deputy Chief Economist

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Rates Edge Higher; Slow Week For Mortgage Apps; Anti-Money Laundering Discussion

Mortgage rates were nominally higher today, though you'd be hard-pressed to find any evidence of that on lender rate sheets. For all practical purposes, rates haven't moved since last Thursday afternoon. During that time, any detectable changes have come in the form of small adjustments in closing costs, with no change to the interest rate quoted. Most lenders are offering conventional 30yr fixed rates in a range of 3.375-3.5% on top tier scenarios at the moment. A scattered few are up at 3.625%. In the bigger, more stategic picture, it was fair to hope that rates were breaking out of a sideways range last Friday and might begin to build momentum this week. Instead, they've backtracked, putting us right back in the same position. Specifically, the range is sideways, and we're waiting for a

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Rates Rise; Potential Volatility Ahead; Freddie Didn't Need Taxpayer Help After All; Price Gains Still Cooling

Mortgage rates moved higher again today, after hitting the lowest levels in roughly 2 weeks last Friday. Like yesterday, today's increase was fairly minimal in the big picture, but successive days of weakness can add up. Unlike yesterday, most borrowers would now be seeing slightly higher costs on today's rate quotes compared to Friday's. Here's the good news though: apart from the past 2 days, today's rates are the lowest in more than 2 weeks . After rising to a range of 3.5-3.625% last week, conventional 30yr fixed rates are now more likely to be quoted in a 3.375-3.5% range on top tier scenarios. Low rates aside, today's market movements are suggesting a more defensive strategy (less interested in floating). Although mortgage rates are not directly linked to 10yr Treasury yields, the latter

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Rising Sea Levels Threaten to Put Nearly 2 Million U.S. Homes Underwater

$882 billion worth of the current U.S. housing stock would be underwater in 2100 if sea levels follow scientists' predictions

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Rates Bounce Higher; Brexit Effect on Refis; Auto Loans Predicting Mortgage Delinquency?

Mortgage rates moved higher today after hitting the lowest levels in roughly 2 weeks last Friday. Today's increase was fairly minimal in the big picture. In fact, most of Today's quotes are essentially unchanged from Friday. But there was some weakness in underlying bond markets that didn't make it through to lenders' rate sheets. In other words, unless bond markets stage a rally overnight and tomorrow morning, tomorrow's rates will be higher. Last week, I mentioned that the more aggressive approach to locking/floating would be to wait until we had clear evidence that suggested the trend of recent improvement had ended before locking. In assessing such trends, we can use certain key levels in bond markets. The key level we've been following on MBS Live is 1.52% in 10yr Treasury yields, which

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Kitchen Design Is Getting Mixed Up

Photographed by William Lesch and designed by Lori Carroll and Debra Gelety

By Melissa Dittmann Tracey, REALTOR(R) Magazine

Get two-toned in the kitchen. There’s no need to get too match-y, if you want to be on trend. Kitchen cabinets are popping up in more than one shade to add an eye-catching contrast.

Indeed, 42 percent of remodelers surveyed by the National Kitchen and Bath Association say they used a mix of color cabinets in their most recent remodels, such as white cabinets with a dark wood or gray center island. Also in mixing up the color palette, remodelers reported using a different countertop material for the island and then another countertop material for the counter space, such as a wood top combined with a stone top.

 

Photo by Canterbury Design Kitchen Interiors – Discover traditional kitchen design inspiration

Photo by Michael Robert Construction – Browse traditional kitchen ideas

Photo by Tanner Vine – 2Go Custom Kitchens Inc – Look for traditional kitchen pictures

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Rates at 2-Week Lows After GDP; CFPB's TRID Changes; Jumbo Market Woes; Homeownership Lows

Mortgage rates enjoyed another strong day, falling to the best levels in exactly 2 weeks. Rates were actually set to move higher early this morning, but a much weaker-than-expected reading on Q2 GDP helped drive demand for bonds. Better buying pushes bond prices higher and rates lower. The strength in bond markets gave lenders the peace of mind needed in order to offer even better terms than yesterday. The most prevalent conventional 30yr fixed rate is quickly returning to 3.375% on top tier scenarios. Next week brings important economic data, including the big jobs report on Friday. The overall tone of that data should help determine whether rates will continue building on the past 2 days of positive momentum. The conservative approach would be to lock in the gains with rates at 2-week lows

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