MBS RECAP: Unchanged Again; Modest Intraday Volatility

Posted To: MBS Commentary

If we simply consider the close-of-the-day trading levels in bond markets, today was "unchanged." The intraday activity tells only a slightly more detailed story. Treasuries were weaker in the overnight session and never showed much of a desire to overcome that plight until the 9:30am NYSE open. This is highly suggestive/supportive of " month-end tradeflows" driving much of the momentum. Today even provided another interesting way to confirm the "month-end" theory. At 9:45am, Chicago PMI came out much weaker than expected. You would have been within your rights to chalk up some bond market gains to the data. Then, about 2 hours later, the headline was corrected such that the Chicago PMI was much STRONGER than expected. If bonds were interested in the data, we would...(read more)

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MBS RECAP: Unchanged Again; Modest Intraday Volatility

Posted To: MBS Commentary

If we simply consider the close-of-the-day trading levels in bond markets, today was "unchanged." The intraday activity tells only a slightly more detailed story. Treasuries were weaker in the overnight session and never showed much of a desire to overcome that plight until the 9:30am NYSE open. This is highly suggestive/supportive of " month-end tradeflows" driving much of the momentum. Today even provided another interesting way to confirm the "month-end" theory. At 9:45am, Chicago PMI came out much weaker than expected. You would have been within your rights to chalk up some bond market gains to the data. Then, about 2 hours later, the headline was corrected such that the Chicago PMI was much STRONGER than expected. If bonds were interested in the data, we would...(read more)

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Rates Near 2-Week Lows as Risks Increase

Posted To: Mortgage Rate Watch

Mortgage rates improved modestly today as lenders caught up with yesterday afternoon's market movements. Most lenders will issue mid-day changes in rate sheets ("reprices") when bond markets make a big enough move in one direction or the other during the day. Sometimes, this movement doesn't happen until the afternoon hours (which was the case yesterday). A handful of lenders responded with rate sheet improvements, but most simply waited for this morning. The net improvement isn't huge , by any means. In fact, most prospective borrowers may see the exact same quote as yesterday. But on average, the combination of rates and upfront costs is at its best level since May 18th. Specifically, 3.875-4.125% is the prevailing range, with most lenders quoting 4.0% on top tier 30yr fixed scenarios. The...(read more)

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Rates Near 2-Week Lows as Risks Increase

Posted To: Mortgage Rate Watch

Mortgage rates improved modestly today as lenders caught up with yesterday afternoon's market movements. Most lenders will issue mid-day changes in rate sheets ("reprices") when bond markets make a big enough move in one direction or the other during the day. Sometimes, this movement doesn't happen until the afternoon hours (which was the case yesterday). A handful of lenders responded with rate sheet improvements, but most simply waited for this morning. The net improvement isn't huge , by any means. In fact, most prospective borrowers may see the exact same quote as yesterday. But on average, the combination of rates and upfront costs is at its best level since May 18th. Specifically, 3.875-4.125% is the prevailing range, with most lenders quoting 4.0% on top tier 30yr fixed scenarios. The...(read more)

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Permanent Jim Henson Exhibition To Open at MoMI in Queens

The Museum of the Moving Image (MoMI) in Queens is sharing Jim Henson's magical escapism for generations to come with a new permanent exhibit of his work, including 47 vintage, original puppets and Muppets.

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A Vintage-Loving Fashion Designer's Retro Townhouse — House Tour

Name: Paula-Jane Buckland, son Rocket (9 years old) and Dixon
Location: Coburg North — Melbourne, Victoria, Australia
Size: 3229 square feet
Years lived in: 4 years, renting

Paula-Jane and her son Rocket moved to Melbourne from Adelaide about four years ago. While they live in a relatively new two-level townhouse in an inner-north suburb of Melbourne, it goes to show that you don't have to live in a vintage home to collect and display wonderful retro and vintage furniture and collectibles.

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A Cozy Oasis in a West Village Walk Up — House Call

Name: Melina
Location: West Village, New York — New York
The basics: 9 months, rented | 300 square feet

If you've spent anytime hunting for housing on Craigslist, you know that "cozy" spaces so rarely are. Not so in the case of Melina's West Village studio. Like something out of a TV show with an excellent acoustic soundtrack, her studio is welcoming, warm and totally charming.

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Is This Really the Smartest Way to Hang Kitchen Curtains? — Kitchn

From Kitchn → Is This the Smartest Way to Hang Kitchen Curtains?

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Color Experts Answer 2,000 Question AMA About How Paints Get Their Names

At this point, we might all assume that we're picking the same paint colors because Pinterest or Pantone trends told us to, but a Reddit AMA about "How Paint Colors Get Their Names" with two veteran paint color experts had some surprising takeaways about why we actually choose the colors we do.

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The Great Escape: Amazing Vacation Rentals Close to NYC

(Image credit: HomeAway)

Getaway. Escape. Whatever you want to call it. Your summer vacation need not be an extravagant European adventure in order to be relaxing. In fact, it's better if it isn't. When you really need to take a break from city life, you probably want something close, affordable and, above all else, like a home away from home.

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Warmth, Charm & Architectural Details in this $1.5m Multi-Family Home in Historic Stuyvesant Heights — Property Crush

This two-family home in Stuyvesant Heights is straight out of central casting and represents all the things we love about older Brooklyn homes like hardwood floors, fireplaces, decorative molding and exposed brick. The 1.5 million price includes an owners' duplex and a garden-level rental unit (to help pay the mortgage). The home's architectural details are in keeping with the historic neighborhood's posh past and exude warmth and charm.

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Step-by-Step: A Closet Makeover Fit For an Instagram Star

(Image credit: Chris Veith for Kate Rumson)

Kate Rumson is the founder of the The Real Houses of IG Instagram account (1.5 million followers and counting). In between running the account and her business, The Real Houses, Kate's also been in the process of updating her New Jersey home to fit her simple-yet-luxe aesthetic.

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Designing With Lucite (For Every Budget) — Apartment Therapy Marketplace

Sarah's Small & Stylish Brooklyn Apartment

(Image credit: Lauren Kolyn)

I absolutely love Lucite. Though technically an umbrella term for clear acrylic, as is the case with Band-Aid and Kleenex, sometimes the brand name becomes synonymous with describing an item in any form. Regardless of what you call it, there are definite benefits to working Lucite into your home: it allows light to pass through, making your space look bigger; you get the aesthetic appeal of glass, minus the fear of shattering; though it appears sturdy, it's often pretty lightweight and easy to move around. And of course, it looks cool!

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10 Gmail Shortcuts Everybody Ought to Know

If you're anything like me, you spend a lot of time each day clicking through your inbox. (And, admittedly, if you're anything like me you also walk away from the inbox with a seemingly never-ending pile of unread messages and junk mail. Does it ever stop?!) But what if there was a way to make sifting through that inbox easier? Enter Gmail shortcuts. Here are 10 essential shortcuts everyone should know. Just don't forget to turn on your keyboard shortcuts (this option is in the "settings" tab of your account) first.

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Today's Google Doodle Celebrates Zaha Hadid

(Image credit: The Guardian)

The design world lost a true innovator last year when Zaha Hadid passed away at the age of 65. Google is celebrating the architect today with a Google Doodle.

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"Eclectic Chaos" in a Fantastic Feminist NYC Rental — Video House Tour

Name: Sadie Stein and Lorin Stein
Location: Upper West Side — New York, NY
Size: 850 square feet
Years lived in: Sadie: 5; together, 1.5, renting

Sadie and Lorin joke that if their apartment were personified, she would be a 1970s feminist character named Valerie. She's bold, she's not afraid of color (or the patriarchy), and she doesn't take herself too seriously. After all, she does have a "baby pink" kitchen. As Sadie says, "It is a happy place. Of course everything isn't all fun all the time, but it's a place where people seem to like to be. Several couples have gotten together here — one pair of friends even got engaged! (Of course, we do have a well-stocked bar, which never hurts!)"

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Selling a Home Costs Money Too

Posted To: MND NewsWire

Several entities that wonder about such things have commented recently on the apparent reluctance of homeowners to sell their homes. Historically Americans have tended to buy their first home at a certain age, and move up into a newer, larger, better located, or more amenity laden home a few years later, and then perhaps move again to downsize or relocate to a more suitable place for retirement. Now, not only are they buying that first home later than their predecessors, but once settled in, they tend to stay there . This has had ramifications for potential buyers as inventories of existing homes for sale are at record lows . This lack of mobility was initially blamed on the lack of home equity following the housing crisis. This locked homebuyers into place, either because the sale price failed...(read more)

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IKEA's Innovation Hub Is Hosting a Future Festival

IKEA is imagining what the future might look like. The Swedish brand's external innovation hub, SPACE10, is hosting a three-day festival to explore how we can create a more positive future.

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Selling a Home Costs Money Too

Posted To: MND NewsWire

Several entities that wonder about such things have commented recently on the apparent reluctance of homeowners to sell their homes. Historically Americans have tended to buy their first home at a certain age, and move up into a newer, larger, better located, or more amenity laden home a few years later, and then perhaps move again to downsize or relocate to a more suitable place for retirement. Now, not only are they buying that first home later than their predecessors, but once settled in, they tend to stay there . This has had ramifications for potential buyers as inventories of existing homes for sale are at record lows . This lack of mobility was initially blamed on the lack of home equity following the housing crisis. This locked homebuyers into place, either because the sale price failed...(read more)

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A One-Size-Fits-All DIY Project That'll Keep Your Kitchen Drawer Organized Forever — Apartment Therapy Tutorials

We all know that the kitchen tool drawer can get messy fast. Housing everything from uni-tasking gadgets to everyday workhorses like cooking spoons, it's easy for them to become a tangled jumble. And since we all have different items and drawers, there's no one organizational solution that will work for everyone. Or is there?

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New DU Version Eases DTI Requirements

Posted To: MND NewsWire

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...(read more)

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New DU Version Eases DTI Requirements

Posted To: MND NewsWire

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...(read more)

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Empowering Design Lessons From a Stunning Rental Living Room (That Non-Renters Should Take to Heart Too)

Isabelle's house tour is endlessly inspiring to me, for starters because it's just flat out gorgeous but also because it so clearly illustrates how all of the small choices we make can add up to something wonderfully, personally beautiful. And for those of us who are renting, that is pretty damn empowering.

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Large Taxidermy Bear For Sale! — Marketplace

(Image credit: Meloni Portraits)

Since acquiring our marketplace partner in January, we've been working hard at cleaning out, upgrading, fixing and rebuilding the entire thing from top to bottom. We've got months of work still ahead of us, but love that we can now feature some of the incredibly beautiful, useful and outrageous things being sold within our community. Above is a remarkable find: a large bear that was purchased by this photographer in Montana and now resides in storage in Litchfield, Connecticut. It's not for everyone. It's looking for that special someone to give it a good home. :)

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Before & After: A Rental Bathroom Upgrade with a Vintage Portrait Gallery

Megan's rental bath makeover is low key awe inducing. Without making any major upgrades, it's like she helped her bathroom leap forward into modern styling, while also time traveling back to the time of glam powder rooms.

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Pending Home Sales Fall Below 2016 Levels

Posted To: MND NewsWire

Pending home sales had been expected to rise slightly in April after declining 0.8 percent in March. Instead, the National Association of Realtors'® (NAR's) Pending Home Sale Index (PHSI) slumped for the second straight month , dropping 1.3 percent. The PHSI, based on contracts signed for existing home purchases, fell from 111.3 (revised from 111.4) in March to 109.8. The April dip put the Index 3.3 percent below its level in April 2016. This was the first year-over-year decline since last December and the largest since the Index fell 7.1 percent in June 2014. Analysts polled by Econoday had expected sales to rebound from their March loss by 0.5 percent with some looking for a gain of as much as 1.4 percent. The actual results were well below the lowest estimates of -0.5 percent. Econoday...(read more)

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Pending Home Sales Fall Below 2016 Levels

Posted To: MND NewsWire

Pending home sales had been expected to rise slightly in April after declining 0.8 percent in March. Instead, the National Association of Realtors'® (NAR's) Pending Home Sale Index (PHSI) slumped for the second straight month , dropping 1.3 percent. The PHSI, based on contracts signed for existing home purchases, fell from 111.3 (revised from 111.4) in March to 109.8. The April dip put the Index 3.3 percent below its level in April 2016. This was the first year-over-year decline since last December and the largest since the Index fell 7.1 percent in June 2014. Analysts polled by Econoday had expected sales to rebound from their March loss by 0.5 percent with some looking for a gain of as much as 1.4 percent. The actual results were well below the lowest estimates of -0.5 percent. Econoday...(read more)

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Anti-Cutesy: A Tiny House that Masters Minimalism

(Image credit: Moobum Jang via Arch Daily)

The tendency of tiny houses is to be a bit cutesy—like a little dollhouse that you can (just barely) fit inside. This tiny Korean house retains the familiar shape that comes to mind when we think of the word "house", with its comforting, pitched roof, but that's where the similarities to a child's toy end. Inside and out, this house is completely modern, with a sleek, even austere minimalism that works particularly well for a scaled-down space.

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MBS Day Ahead: Hoping to Build on Recent Strength With Uncertain Month-End Boost

Posted To: MBS Commentary

In one of yesterday's updates ( THIS ONE , to be specific), we discussed the role that month-end bond buying was likely playing behind the scenes. Long story short, when we see bond market strength at the end of the month that doesn't line up well with at least one of the normally correlated markets (Yen, stocks, European bonds, and others all take turns wearing this hat), it's fair to assume that the compulsory month-end tradeflows are the key consideration. I would go so far as to say it was yesterday's driving force for bond gains, and that can raise questions about today's ability to keep the same trend alive. In the spirit of the month-end trading discussion, keep in mind that there's only a certain amount of month-end trades to be executed. If we think we saw a...(read more)

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MBS Day Ahead: Hoping to Build on Recent Strength With Uncertain Month-End Boost

Posted To: MBS Commentary

In one of yesterday's updates ( THIS ONE , to be specific), we discussed the role that month-end bond buying was likely playing behind the scenes. Long story short, when we see bond market strength at the end of the month that doesn't line up well with at least one of the normally correlated markets (Yen, stocks, European bonds, and others all take turns wearing this hat), it's fair to assume that the compulsory month-end tradeflows are the key consideration. I would go so far as to say it was yesterday's driving force for bond gains, and that can raise questions about today's ability to keep the same trend alive. In the spirit of the month-end trading discussion, keep in mind that there's only a certain amount of month-end trades to be executed. If we think we saw a...(read more)

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Upcoming Events; Vendor Updates - OB to Buy Comergence; Freddie Credit Risk Transfer

Posted To: Pipeline Press

It has been interesting talking to residential lending folks around the nation about their mix of business and how it has changed - if at all. It turns out that 49 percent of people who have refinanced their home in the first quarter of the year did cash-outs . That's the highest rate in the post-recession economy, up from 12 percent in mid-2012. To put things in perspective, in the run-up to the recession, that figure was often over 80 percent. Vendor M&A and news News broke yesterday that Optimal Blue is acquiring Comergence Compliance, "the mortgage industry's leading third-party oversight platform." "Comergence provides an array of third-party originator (TPO), appraiser, and social media risk management solutions that verify third-party compliance in real-time, a capability unmatched...(read more)

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Upcoming Events; Vendor Updates - OB to Buy Comergence; Freddie Credit Risk Transfer

Posted To: Pipeline Press

It has been interesting talking to residential lending folks around the nation about their mix of business and how it has changed - if at all. It turns out that 49 percent of people who have refinanced their home in the first quarter of the year did cash-outs . That's the highest rate in the post-recession economy, up from 12 percent in mid-2012. To put things in perspective, in the run-up to the recession, that figure was often over 80 percent. Vendor M&A and news News broke yesterday that Optimal Blue is acquiring Comergence Compliance, "the mortgage industry's leading third-party oversight platform." "Comergence provides an array of third-party originator (TPO), appraiser, and social media risk management solutions that verify third-party compliance in real-time, a capability unmatched...(read more)

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Refinance Volume Retreats from Previous Strong Showing

Posted To: MND NewsWire

The volume of applications for mortgages tumbled during the week ended May 26. Purchase applications were down for the third straight week and refinancing didn't sustain the strong bounce it had the week before. The Mortgage Bankers Association (MBA) said its Market Composite Index, was down 3.4 percent from the week ended May 19 on a seasonally adjusted basis and lost 4 percent unadjusted. The Refinance Index, which had surged 11 percent a week earlier, fell back by 6 percent and the share of all applications that were for refinancing decreased to 43.2 percent from 43.9 percent. The seasonally adjusted Purchase Index was off by 1 percent from the prior week and the unadjusted Index was down 3 percent. The volume of purchase applications was still 7 percent higher than during the same week...(read more)

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Refinance Volume Retreats from Previous Strong Showing

Posted To: MND NewsWire

The volume of applications for mortgages tumbled during the week ended May 26. Purchase applications were down for the third straight week and refinancing didn't sustain the strong bounce it had the week before. The Mortgage Bankers Association (MBA) said its Market Composite Index, was down 3.4 percent from the week ended May 19 on a seasonally adjusted basis and lost 4 percent unadjusted. The Refinance Index, which had surged 11 percent a week earlier, fell back by 6 percent and the share of all applications that were for refinancing decreased to 43.2 percent from 43.9 percent. The seasonally adjusted Purchase Index was off by 1 percent from the prior week and the unadjusted Index was down 3 percent. The volume of purchase applications was still 7 percent higher than during the same week...(read more)

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Frugal Living: How To Save Money and Stretch Your Decorating Dollars

(Image credit: Oliver & Sherrie's Mini Bronx Loft)

Big budgets make decorating easier at times, but they aren't necessary for stylish, comfortable, and personalized homes. If you know what you like, have some patience, and aren't afraid to get your hands dirty, it's possible to stretch your decorating dollars and save money. Here are a ton of great ideas on how to outfit your living spaces on a budget:

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The Best Tool for Cleaning Your Grill Isn't What You'd Expect — Kitchn

From Kitchn → My Favorite New Tool for Cleaning the Grill

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