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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Your New Condo - Show 390

Real Estate Today Radio - SHOW 390

On this week's Real Estate Today, it's our special show "Your New Condo."

This Week's Show Includes:
- Top News Of The Week
- Condo Parking Spots
- Condos, Co-ops and Apartments
- Ask The Millennial
- Smart Home Technology
- Get REALTOR(R)

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

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Mortgage Rates' Best Day Since Brexit; Slow Start for Cash Sales; Everbank to be Acquired; Servicing Woes

Mortgage rates fell at the quickest pace in more than a month today as lenders priced-in the market improvements seen after yesterday's Fed Announcement. Even though quite a few lenders offered improvements yesterday afternoon, the so-called "reprices" were conservative compared to improvements implied by trading levels in mortgage-backed-securities (the bonds that most directly affect mortgage rates). This lag effect between markets and rate sheets has been a fixture in the post-Brexit mortgage rate environment, and it has frequently resulted in today's rate sheets reflecting yesterday's market movement. The only catch is that today's market movement can't backtrack too far in the other direction. Simply put, lenders were prepared to offer lower rates yesterday, but needed confirmation that

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Retail, residential projects to continue East 16th Street surge

The operators of Tinker Street plan to open a Mexican restaurant along the revitalized corridor, while Hotel Tango Whiskey readies to expand operations there. Also, two more residential developments are in the works.

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Rents Rising Fastest Among Low-End Apartments

Despite growing number of renters in the market, most new apartment construction is high-end units

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Rates Fall After Fed; Fannie Upgrades HomeReady Program; Pending Sales Miss Estimates

Mortgage rates moved slightly lower today, although that's only true for lenders who issued mid-day improvements following the Fed's policy announcement. Markets were, by no means, expecting the Fed to hike rates today, but there was a decent enough chance they would telegraph their intention to hike. Such a move is certainly in the Fed's playbook, but if that's what they were shooting for today, it didn't show. Specifically, the Fed COULD have added verbiage like they did in October. That's the meeting where they clearly telegraphed a rate hike at the next meeting by specifically saying "In determining whether it will be appropriate to raise the target range at its next meeting." This time around, they didn't say anything of the sort. Bond markets improved to the best levels in weeks--a fact

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New Home Sales hit 8-Year High; Price Appreciation Slows; Foreclosure Starts Increase; Rates at 1-Month High

Mortgage rates moved slightly higher today, and are now effectively at the highest levels in month. That sounds a bit more dire than it is, though, because there hasn't been much movement in the bigger picture--especially over the past few days. In fact, there's quite a good chance that you'd receive the same quote today as you would have late last week. For most borrowers, that's in the mid 3.5% neighborhood when it comes to conventional, 30yr fixed loans. Flat financial markets (which are behind the relatively flat rates) speak to the risk of bigger movement in the coming days. Specifically, market participants want to see what the Fed has to say in its policy announcement tomorrow afternoon. A rate hike is not expected, but the Fed could still plant clues as to their intentions for the next

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