Rates Fall to 2017 Lows After Jobs Report; Dodd-Frank Provisions on Chopping Block

Mortgage rates moved convincingly lower today following weaker-than-expected employment data from the Labor Department. The big "jobs report" showed only 138k new nonfarm payrolls (the report's headline job creation metric) in May, and a negatively revised 174k in April (down from 211k). March was revised lower as well, painting a suddenly gloomier picture relative to the strong, stable job growth reported since roughly 2011. It's not that the current numbers are worse than they were during some of the rough patches over the last 6 years, just that we're not seeing as much resilience. Payroll growth has now come in under 250k for 10 straight months--something that hasn't happened since 2012 (but at least in 2012, the broader trend was positive as opposed to potentially reversing). When job

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http://www.mortgagenewsdaily.com/reports/newsletter/2017/6/2/2822

Where We Stand - Show 434

Real Estate Today Radio - SHOW 434

On this week's Real Estate Today, it's our special show "Where We Stand."

This Week's Show Includes:
- Top News Of The Week
- What The Market Means To You
- Buy First? Sell First?
- 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

Rates Edge Higher Ahead of Jobs Data; Fannie's Portfolio Increases; Rare Win For Single-Fam Construction

Mortgage rates gave back yesterday's gains this morning following a stronger-than-expected employment report from ADP. While this is not the week's biggest jobs report, investors view it as one of several early indicators of the official Employment Situation (the big jobs report that comes out tomorrow morning). In general, stronger economic data (i.e. more job growth) tends to push rates higher and vice versa. In the bigger picture, today's move higher in rates will scarcely be detectable for most borrowers. In nearly every case , today's rate quote would be the same as yesterday's with the possible exception of slightly higher upfront costs today. When it comes to "note rates" (the actual interest rate applied to your mortgage balance, without regard for the upfront costs), we're still sideways

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http://www.mortgagenewsdaily.com/reports/newsletter/2017/6/1/2820

Milktooth chef Brooks planning second local restaurant near downtown

Flush with national accolades, Jonathan Brooks hopes to open Beholder this fall with a strong emphasis on wine. Also in Property Lines: BurgerFuel opens its first U.S. location in Broad Ripple.

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https://www.ibj.com/blogs/3-property-lines/post/64031-milktooth-chef-brooks-planning-second-local-restaurant-near-downtown

Homes with Blue Bathrooms Sell for $5,400 More than Expected

For-sale listings with cool, neutral wall colors sell for more money, according to Zillow analysis; homes with white, yellow or red wall colors can sell for less than expected

from
http://zillow.mediaroom.com/2017-06-01-Homes-with-Blue-Bathrooms-Sell-for-5-400-More-than-Expected

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