MBS RECAP: Bond Rout Continues With No Help From Month-End

Posted To: MBS Commentary

There is month-end bond buying and then there is month-end "position-squaring." These are 2 different things. Month-end bond-buying refers specifically to the phenomenon of money managers adjusting their holdings to match a specific bond market index. In general, there's always a need to add to bond holdings because there's always a certain amount that will be maturing in any given month. That's why another name for month-end buying is "index extensions" (because average duration of any given set of bond holdings must be re-stretched or "extended" every month, lest the portfolio gradually pay itself down to nothing. Index extensions always bring in some bond buying near the end of the month. Position-squaring, on the other hand, can happen any time...(read more)

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MBS RECAP: Bond Rout Continues With No Help From Month-End

Posted To: MBS Commentary

There is month-end bond buying and then there is month-end "position-squaring." These are 2 different things. Month-end bond-buying refers specifically to the phenomenon of money managers adjusting their holdings to match a specific bond market index. In general, there's always a need to add to bond holdings because there's always a certain amount that will be maturing in any given month. That's why another name for month-end buying is "index extensions" (because average duration of any given set of bond holdings must be re-stretched or "extended" every month, lest the portfolio gradually pay itself down to nothing. Index extensions always bring in some bond buying near the end of the month. Position-squaring, on the other hand, can happen any time...(read more)

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A Kid-Friendly, Textile-Filled Portland Home — House Call

Name: Deepali, her husband and their 2 kids
Location: Portland, Oregon
The basics: 12 years, owned — 1,800 square feet

Deepali's home balances striking textiles with, well, kids. Creating a home that is as visually interesting as it is welcoming to all ages, she has created rooms that look lovingly lived in.

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Worst Week For Mortgage Rates Since March

Posted To: Mortgage Rate Watch

Mortgage rates moved higher for a 4th straight day to end the month of June. In terms of upward movement, this has been the worst week for mortgage rates since early March, 2017. Most borrowers are now seeing rates that are a full eighth of a point higher than Monday morning's levels. While that's not even remotely close to the damage done during election week last year, an eighth of a point in 4 days is definitely on the abrupt side of historical averages. Whereas 3.875% had been widely available on Monday morning, the most prevalently-quoted conventional 30yr fixed rate is now up to 4.0% for top tier scenarios, and 4.125% is rapidly gaining market share. Whereas the lock/float outlook had been calm and steady heading into this week, it quickly turned defensive as losses mounted. There are...(read more)

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Worst Week For Mortgage Rates Since March

Posted To: Mortgage Rate Watch

Mortgage rates moved higher for a 4th straight day to end the month of June. In terms of upward movement, this has been the worst week for mortgage rates since early March, 2017. Most borrowers are now seeing rates that are a full eighth of a point higher than Monday morning's levels. While that's not even remotely close to the damage done during election week last year, an eighth of a point in 4 days is definitely on the abrupt side of historical averages. Whereas 3.875% had been widely available on Monday morning, the most prevalently-quoted conventional 30yr fixed rate is now up to 4.0% for top tier scenarios, and 4.125% is rapidly gaining market share. Whereas the lock/float outlook had been calm and steady heading into this week, it quickly turned defensive as losses mounted. There are...(read more)

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This Weekend: Give The Outside of Your Fridge a Facelift — Weekend Project

It's not just the inside of the fridge that serves a function in our kitchens. For many of us, the fridge is a central spot for displaying kids' art, the soccer calendar, friends' engagement photos, and the magnets we collect. This weekend, let's neaten up the outside of the fridge so we can enjoy afresh what we choose to showcase.

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A Counterpoint For Recent Move Higher in Bond Yields

Posted To: MND NewsWire

The yield on the 10-year Treasury note hit its highest level in a little over month in Friday trading. But some strategists say bond yields edging up is not an indication that economic growth is picking up substantially. "The bond market has largely been telling us, 'growth is mediocre at best,' and the stock market has been saying, 'buckle up, it's going to be great.' And it's a little bit hard to imagine a scenario in which both those things are true," said Max Wolff, market strategist at 55 Institutional, Thursday on CNBC's " Power Lunch ." As bond yields have fallen this year, equities have continued climbing to new heights; Wolff concluded: "The bond market and the stock market sort of don't seem like they see the same world. And it doesn't necessarily mean which one is right and which...(read more)

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A Counterpoint For Recent Move Higher in Bond Yields

Posted To: MND NewsWire

The yield on the 10-year Treasury note hit its highest level in a little over month in Friday trading. But some strategists say bond yields edging up is not an indication that economic growth is picking up substantially. "The bond market has largely been telling us, 'growth is mediocre at best,' and the stock market has been saying, 'buckle up, it's going to be great.' And it's a little bit hard to imagine a scenario in which both those things are true," said Max Wolff, market strategist at 55 Institutional, Thursday on CNBC's " Power Lunch ." As bond yields have fallen this year, equities have continued climbing to new heights; Wolff concluded: "The bond market and the stock market sort of don't seem like they see the same world. And it doesn't necessarily mean which one is right and which...(read more)

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An Artist's Chic Compact West Village Apartment — House Tour

Name: Carly Berlin
Location: West Village, NYC
Size: 700 square feet
Years lived in: 3 years, renting

Part home, part professional art studio, Carly's long and narrow West Village apartment is outfitted minimally but filled with warmth and personality. Carly has a gift for seeing the beauty in the smallest of details, and her ability to set up her home from that perspective means she's made a million small but successful decisions. The result in one overall stylish and welcoming apartment.

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This 700-Square-Foot Boston Condo Goes from "Perfectly Lovely" to Modern Showstopper — Professional Project

(Image credit: Courtesy Farr North Interiors)

Project by: Farr North Interiors
Location: Boston, Massachusetts

A previous renovation in 2010 gave a perfectly lovely cosmetic upgrade to a once-dated 710-square-foot condo in Boston. Though the modernization created a significant aesthetic improvement, layout and flow issues remained in the 2-bedroom, 1-bathroom apartment originally built in the 1800s. To reconfigure the home, the homeowners brought in Kerry Farr of Farr North Interiors to tackle the small space challenges.

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Pier 1 Could Be Launching a New, Urban-Focused Store

(Image credit: Jonathan Weiss/Shutterstock)

If you haven't been in a Pier 1 Imports store recently, the company has some news that will hopefully lure you back. The retailer is reportedly considering launching a second brand.

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100% Inspirational Laundry Room Makeovers You Don't Want To Miss

Your laundry room is a very functional space, but that doesn't mean it has to be a boring one. These homeowners, not content with their existing builder-grade laundry rooms, set out to transform these humble spaces into something a little more useful, and much more beautiful. If you're lucky enough to have a laundry room all your own, you'll find plenty to inspire you in these four transformations.

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Does Refi Advertising Help or Hurt Borrowers and Lenders?

Posted To: MND NewsWire

"Mortgage borrowers frequently make costly refinancing mistakes by either refinancing when they should wait, or by waiting when they should refinance." That is the working premise of a paper published as part of the Federal Reserve's Finance and Economics Discussion Series. The paper, by Serafin Grundl and You Suk Kim, is titled "Consumer Mistakes and Advertising: The Case of Mortgage Refinancing." Consumers, the authors say, tend to make mistakes and companies engage in various activities that can encourage mistakes, exploiting the biases of consumers to sell them overpriced products or those they don't need, or conversely prevent mistakes by encouraging beneficial actions. Policies that restrict or regulate advertising can help the consumer, but where firms have an incentive to help consumers...(read more)

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Does Refi Advertising Help or Hurt Borrowers and Lenders?

Posted To: MND NewsWire

"Mortgage borrowers frequently make costly refinancing mistakes by either refinancing when they should wait, or by waiting when they should refinance." That is the working premise of a paper published as part of the Federal Reserve's Finance and Economics Discussion Series. The paper, by Serafin Grundl and You Suk Kim, is titled "Consumer Mistakes and Advertising: The Case of Mortgage Refinancing." Consumers, the authors say, tend to make mistakes and companies engage in various activities that can encourage mistakes, exploiting the biases of consumers to sell them overpriced products or those they don't need, or conversely prevent mistakes by encouraging beneficial actions. Policies that restrict or regulate advertising can help the consumer, but where firms have an incentive to help consumers...(read more)

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Do You Know Difference Between a Hard Loft and a Soft Loft?

Like most budding writers, my childhood dream involved moving to New York City and living in an airy and oh-so fabulous loft apartment. Little did I know at the time, I'd been coveting a hard loft while looking at soft lofts and had no idea there was even a distinction. In fact, if we're really being honest, I didn't learn the difference between a hard loft and a soft loft until I started house hunting as an adult.

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A Quirky MCM Modern Nashville Home — House Tour

Name: Lindsay, Chris and cat Mooshy
Location: Inglewood Neighborhood — Nashville, Tennessee
Size: 960 square feet
Years lived in: 2 years, owned

When Lindsay and Chris moved to Nashville a few years ago from New York, they lucked out in finding this perfect-for-them home (complete with three outdoor cats from the previous owner). With Lindsay's love of color and design and Chris' deep-rooted love of mid-century pieces (many of their furniture items are from his mother), they have created a home that boasts a contemporary take on mid-century design and is true to their personal style.

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This Gothic Victorian Mansion Inspired by The Munsters Is Under $500K — House of the Day

If your taste runs a little spooky — or your sense of humor just a little kooky — have we got the Portland listing for you: a gothic Victorian mansion inspired by The Munsters is for sale, and for under $500K.

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DIY Ideas for Framing Big Art on a Small Budget

This past fall, I went on a quest for a simple frame for a long 14-by-50-inch map. After quickly realizing there was no way a store-bought frame would fit these odd dimensions, I emailed a local NYC framing company for a quote. A couple days later, there it was in my inbox: a whopping $782.09 cost estimate. As much as I value supporting local businesses, there was no way I could do it. So then how do you make a big statement without completely destroying your budget? Follow the lead of the thrifty crafters that follow, and build your own.

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Looking To Sell Your Home Faster? 5 Expert Staging Tips

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(Image credit: Via Niche Home Styling)

Prepping your home for sale can feel completely overwhelming. It's like magnifying the stress of tidying up and making your house "guest ready," tenfold. Because you've got to make it look good, really, really good, for guests you don't even know. They're not your family or your friends. They are prospective buyers, and they are coming to examine your most intimate quarters and decide if they can see themselves living there, too. Setting the stage for this encounter properly is important; it can make a huge difference in netting you a successful sale.

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Before & After: A Brand New Look for a Beige Bath

(Image credit: Submitted by Tara)

Tara's bathroom had the sort of tan look that was popular during the heyday of Friends. Deciding enough was enough, she set out to create a bathroom with more storage, more space and more style.

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Styling Tricks for Round Coffee Tables

(Image credit: Laura Trevey)

Recently, we shared our expert tips on how to style a coffee table. The table we used specifically, though, was rectangular, and some readers chimed in to request help with how to arrange a round coffee table. Though most of the same principles apply no matter what shape you're working with, I've rounded up takeaways and inspiration for round tables.

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The 2017 Mega List of July 4th Sales

Before the festivities and fireworks begin, retailers have already started celebrating America's 241st birthday in the best way they know how—with sales. July 4th is historically a good time to stock up on summer clothes and swimwear, snag a new grill or patio furniture, and check out outdoor sports equipment and gear. We're rounding up all the best sales for home, apparel and more that we've come across, so no matter what you're looking for, you can save this weekend.

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MBS Day Ahead: Month/Quarter-End Tradeflows Make For Uncertain Conclusions

Posted To: MBS Commentary

With bond yields so clearly lifting-off from their recent trend, today should be just another day to consider our relative demise. Being bullish on bonds right now is akin to being dropped onto a battlefield and immediately finding yourself outnumbered and outgunned. Sure, there have been some epic battles in history where small numbers of troops have overcome such odds, but the odds are against us. The month/quarter-end process changes the battlefield into some sort of bizarro world where significant numbers of troops can instantly teleport onto the battlefield. Maybe they're on your side. Maybe they want to kill you. Maybe they're a neutral third party who will simply kill anyone that tries to kill them. The point is that month-end creates seemingly random trades (soldiers). Some...(read more)

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MBS Day Ahead: Month/Quarter-End Tradeflows Make For Uncertain Conclusions

Posted To: MBS Commentary

With bond yields so clearly lifting-off from their recent trend, today should be just another day to consider our relative demise. Being bullish on bonds right now is akin to being dropped onto a battlefield and immediately finding yourself outnumbered and outgunned. Sure, there have been some epic battles in history where small numbers of troops have overcome such odds, but the odds are against us. The month/quarter-end process changes the battlefield into some sort of bizarro world where significant numbers of troops can instantly teleport onto the battlefield. Maybe they're on your side. Maybe they want to kill you. Maybe they're a neutral third party who will simply kill anyone that tries to kill them. The point is that month-end creates seemingly random trades (soldiers). Some...(read more)

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Fannie and Freddie Conventional Conforming Changes Across Multiple Lenders

Posted To: Pipeline Press

Huh? The year is half over? Didn't 2017 just start? Time has a way of flying by. Via rocket ship. July starts tomorrow… and we hear of a new marketing idea. SoFi is offering a month's worth of avocado toast to anyone who takes out a mortgage with it in July. Freddie, Fannie, and conventional conforming changes Here are substantive changes that companies are implementing thus impacting LOs and borrowers, thus make their way into the secondary markets. There is a lot of headline news about housing and GSE reform. I'll cover some of that next week, as a portion of it is merely posturing and making opinions known rather than actual action items like these. Last June the Federal Housing Finance Agency ( FHFA ) issued a final rule amending its regulations to allow certain state...(read more)

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Fannie and Freddie Conventional Conforming Changes Across Multiple Lenders

Posted To: Pipeline Press

Huh? The year is half over? Didn’t 2017 just start? Time has a way of flying by. Via rocket ship. July starts tomorrow… and we hear of a new marketing idea. SoFi is offering a month’s worth of avocado toast to anyone who takes out a mortgage with it in July. Freddie, Fannie, and conventional conforming changes Here are substantive changes that companies are implementing thus impacting LOs and borrowers, thus make their way into the secondary markets. There is a lot of headline news about housing and GSE reform. I'll cover some of that next week, as a portion of it is merely posturing and making opinions known rather than actual action items like these. Last June the Federal Housing Finance Agency ( FHFA ) issued a final rule amending its regulations to allow certain state...(read more)

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Before & After: A Sleek Update for a Cramped Condo — Sweeten

Finding your dream apartment in New York can be hard. So Austin found the next best thing: a less than dreamy apartment that could be turned into his dream home. All it needed was an improved floor plan and a little tlc.

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I Tried the Click and Grow Herb Garden — and Here's How It Went — Kitchn

From Kitchn → I Tried the Click and Grow Herb Garden — Here's How It Went

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In the Words of Wise Women: How to Ask for a Raise & Get Paid What You're Worth — Wonder Women

Most people — particularly those who are just starting out in their careers — find the prospect of asking for a raise daunting. Talking about money is often uncomfortable, and having to talk about yourself and why you're worth a certain amount of moola can push the awkwardness factor off the charts. But, as one of the badass creative women we spoke to for this story pointed out, "If you don't ask for yourself, who will?" Read on for real life advice on how to ask for a raise and get paid what you're worth.

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In the Words of Wise Women: How to Ask for a Raise & Get Paid What You're Worth — Wonder Women

Most people — particularly those who are just starting out in their careers — find the prospect of asking for a raise daunting. Talking about money is often uncomfortable, and having to talk about yourself and why you're worth a certain amount of moola can push the awkwardness factor off the charts. But, as one of the badass creative women we spoke to for this story pointed out, "If you don't ask for yourself, who will?" Read on for real life advice on how to ask for a raise and get paid what you're worth.

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Daily Marketplace Deals: Stylish Desk Chairs, Vintage & New — Apartment Therapy Marketplace

Details like brass casters and teak wood make this Danish office chair a stunner.

(Image credit: Apartment Therapy Marketplace)

We spend our days scouring the Marketplace for gems you can't find anywhere else. Buy and sell with over 200,000 neighbors that love quality home furnishings and good design.

A hard days' work requires support, particularly for your lower back. It seems that standing desks are all the rage nowadays but a good desk chair is forever. Similar to a mattress, this isn't a furniture choice where you'll want to compromise comfort for price. But that doesn't mean you can't get quality desk chairs within a budget. The following options—both vintage and new—are solid choices to withstand the day to day wear.

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Here's What $500k Buys in San Francisco Right Now

San Francisco is one of the most expensive cities in the country—both in terms of renting and buying —so finding a place there to call your home, especially one that's affordable, isn't exactly an easy feat. In order to buy a home in SF, you're normally going to need an XL budget.

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Savings Stretchers: 8 Times Inexpensive Materials Looked Really Great in the Kitchen

(Image credit: Dwell)

Of course it's possible to create an amazing-looking kitchen if you have massive amounts of cash: what's really remarkable is doing the same thing on a limited budget. But the good news is that you don't have to spend a ton of money to get a countertop or cabinets or a backsplash or a floor that looks great. Here are eight examples of humble, inexpensive materials looking really great in the kitchen.

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MBS RECAP: Bonds Might Have Done Even Worse if Not For Stocks

Posted To: MBS Commentary

If you follow equities markets much, you know that today was pretty ugly --especially for the tech sector. In fact, most equities analysts are blaming the tech sector for the sell-off. I might add that the notion of ECB tapering isn't a friend to stocks either, and it regained traction today according to currency and bond markets. There are several headlines that we might focus on in order to justify the bond market negativity but ultimately, the biggest volume selling of the day was completely unrelated to any available news. This suggests one of two things: either traders are making big month-end adjustments (like a few big traders that may have bought too many bonds too early in the month-end buying process). Or traders are increasingly pricing in the risk of ECB tapering. The latter...(read more)

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MBS RECAP: Bonds Might Have Done Even Worse if Not For Stocks

Posted To: MBS Commentary

If you follow equities markets much, you know that today was pretty ugly --especially for the tech sector. In fact, most equities analysts are blaming the tech sector for the sell-off. I might add that the notion of ECB tapering isn't a friend to stocks either, and it regained traction today according to currency and bond markets. There are several headlines that we might focus on in order to justify the bond market negativity but ultimately, the biggest volume selling of the day was completely unrelated to any available news. This suggests one of two things: either traders are making big month-end adjustments (like a few big traders that may have bought too many bonds too early in the month-end buying process). Or traders are increasingly pricing in the risk of ECB tapering. The latter...(read more)

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