Mortgage Rates End October Just Off 5-Month Highs; One Home Price Index Bucking The Trend

Mortgage Rates moved sideways to slightly lower for the 2nd day in a row, after hitting the highest levels in 5 months on Thursday. While the positive progress is better than a sharp stick in the eye, it nonetheless leaves us right in line with highs for all practical purposes. In fact, virtually all lenders are putting out quotes today that are indistinguishable from Thursday's for most prospective borrowers. The most prevalently-quoted conventional 30yr fixed rate remains 3.625% on top tier scenarios, with a handful of the most aggressive lenders at 3.5%. The remainder of the week brings several flashpoints for market volatility, with Wednesday's Fed announcement being the center of attention. The Fed is not expected to announce a rate hike this week (though it's not impossible, by any means

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http://www.mortgagenewsdaily.com/reports/newsletter/2016/10/31/2471

CFPB Fires HMDA Warning Shots at 44 Lenders; Rates Recover Nominally But Stay Near 5-Month Highs

Consumer Financial Protection Bureau (CFPB) chief Richard Cordray announced on Thursday that his agency had issued warning letters regarding reporting under the Home Mortgage Disclosure Act (HMDA) to 44 financial institutions. The letters advised the companies, which included both mortgage lenders and mortgage brokers that they appear to be in violation of HMDA requirements. CFPB identified the 44 companies through a review of available bank and nonbank mortgage data. The letter reads in part, "While we have not made a determination that [Name of Company] is in violation of HMDA filing requirements, we urge you to review your practices to ensure that you comply with all relevant laws. You may find it helpful to review the text of HMDA, Regulation C, and CFPB guidance documents available on

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http://www.mortgagenewsdaily.com/reports/newsletter/2016/10/28/2467

Rates, Uncertainty Remain High; New Home Sales Relatively Strong; Mortgage Apps Slilde

Mortgage Rates didn't move much today, with most lenders just slightly higher than yesterday. This keeps us right in line with the highest levels in more than 4 months. For the sake of perspective, outside the past 4 months, rates have hardly ever been as LOW as they are today. The average lender is quoting conventional 30yr fixed rates of 3.625% on top tier scenarios, though several remain at 3.5%. The bond markets that underlie rate movement are generally defensive and uncertain at the moment. Investors are anxious to see if next week's Fed announcement will hold clues about the Fed's intention to hike its policy rate in early December. Even though the Fed Funds Rate doesn't directly affect mortgage rates, if investors increasingly believe the Fed will hike in the future, mortgage rates tend

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http://www.mortgagenewsdaily.com/reports/newsletter/2016/10/26/2463

Rates Stuck at Highs For Now; Separate Home Price Reports Confirm Strong Trend Intact

Mortgage Rates were unchanged in many cases today, with a handful of lenders inconsequentially better or worse versus yesterday's latest offerings. Despite moving lower on 4 out of the past 6 days, rates were never able to put meaningful distance between themselves and the highest levels in more than 4 months. The slow progress was partly a market phenomenon and partly due to lender strategy. Mortgage rates are driven by bond markets--specifically, mortgage-backed-securities (MBS). Bond markets were hesitant to rush back toward lower rates after topping out in mid-October because traders continued to wait for key events for the green light. Now that one of those events (the European Central Bank's official comment on its longer term bond buying plans) is on hold until early December, traders

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http://www.mortgagenewsdaily.com/reports/newsletter/2016/10/25/2461

Fannie/Freddie Lowering Underwriting Barriers; Rates Break Streak; MBA Calls for 'Reset'

Fannie Mae and Freddie Mac each announced what appear to be essentially identical changes in their loan underwriting programs - Fannie calls its new offering "Day 1 Certainty" while Freddie was less poetic, referring simply to new capabilities added to its Loan Advisor Suite. Fannie Mae President and Chief Executive Officer, Tim Mayopoulos, described Day 1 Certainty today as a way to give lenders "freedom from representations and warranties and greater speed and simplicity when delivering loans to Fannie Mae." He said this will help transform the way lenders do business by moving a paper-based process to an automated one through the company's underwriting software. We assume there are technical differences in the changes to Fannie Mae's Desktop Underwriter and Collateral Underwriter and Freddie

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http://www.mortgagenewsdaily.com/reports/newsletter/2016/10/24/2459

Don’t Spook Buyers! Here Is Some Tasteful Halloween-Inspired Curb Appeal

By Melissa Dittmann Tracey, REALTOR(R) Magazine

You don’t want to scare buyers away. But who says you can’t have a little fun with your listing for Halloween?

Sure, you should probably skip the full cemetery tomb display for the sake of curb appeal. And, probably the ghost popping out of the tree or the witch laughing a haunting laugh in the corner is not the best idea when selling a home. But a few nonscary, Halloween-themed accents here and there can help outfit your listing’s exterior for the season. After all, orange is an eye-popping color that you can certainly use to your advantage in the fall.

Why not add some pumpkins and fall-inspired décor around the for-sale sign for some added attention? Or a spider on a fake web hanging down from your sign for a little fun?

Need some inspiration? Take a look at few examples of stylish Halloween exteriors, all taken from designers featured at Houzz, a website for remodelers and designers.

Photo by Mary Prince Photography – Search traditional entryway design ideas

Photo by Southern Botanical, Inc. – Discover traditional entryway design ideas

Photo by Southern Botanical, Inc. – Search traditional entryway design ideas

Photo by Seaside Interiors – Look for traditional exterior pictures

Photo by Julie Ranee Photography – Search eclectic porch pictures

Photo by Mary Prince Photography – More traditional landscape photos

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http://feedproxy.google.com/~r/StyledStagedSold/~3/3eOSdqsLqOU/

Housing and Economy Probably Heading Downhill; Starter Home Drought Leaves 1st Time Buyers Thirsty

Deja vu all over again? Freddie Mac says economic growth is recovering from a weak first half of the year, the labor market is holding steady and Fed watchers are concluding that a rate hike will come in December; worldwide economic growth is weak and appears likely to get worse. The company's economists add, " We've been here before ... last year." The economy continues to sputter along and the housing market continues to be a bright spot although with "less room to run than in the prior few years." Refinance-spurred mortgage activity is starting to slow as rates rise and that will persist into 2017 as the mortgage market becomes more purchase-dominated. Freddie Mac's Outlook for October closely mirrors predictions in the Fannie Mae forecast earlier this month with a prediction of full-year

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http://www.mortgagenewsdaily.com/reports/newsletter/2016/10/21/2455