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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