Thursday, August 31, 2017

MBS RECAP: Tame Inflation Stands Aside for Month-End Buyers

Posted To: MBS Commentary

Without month-end trading needs and in the absence of one of the most relevant inflation reports, today may well have been a typically slow summertime trading session. In fact, relative to other times of the year, it still managed to be fairly slow. But relative to the past 2 weeks, it was one of the more actively-traded sessions. That's saying something considering bonds generally solidified gains that ostensibly occurred in response to North Korea headlines. The implication (and something we discussed yesterday) is that bonds have to "want" to be in the current range to some extent. At the very least, they have to not have a burning desire to leap back toward higher levels. The month-end trading environment complicates that assessment just a bit because we can never really know...(read more)
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MBS RECAP: Tame Inflation Stands Aside for Month-End Buyers

Posted To: MBS Commentary

Without month-end trading needs and in the absence of one of the most relevant inflation reports, today may well have been a typically slow summertime trading session. In fact, relative to other times of the year, it still managed to be fairly slow. But relative to the past 2 weeks, it was one of the more actively-traded sessions. That's saying something considering bonds generally solidified gains that ostensibly occurred in response to North Korea headlines. The implication (and something we discussed yesterday) is that bonds have to "want" to be in the current range to some extent. At the very least, they have to not have a burning desire to leap back toward higher levels. The month-end trading environment complicates that assessment just a bit because we can never really know...(read more)
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Mortgage Rates Slightly Lower Ahead of Big Jobs Report

Posted To: Mortgage Rate Watch

Mortgage rates moved lower today--something they've been more likely to do in general since early July. The gradual downtrend brought them to their best levels of the year on Tuesday. Yesterday saw a modest bounce and today leaves us somewhere in between. Most borrowers will not see any major differences between Tuesday's quotes and todays, except for slightly higher upfront costs in some cases. Part of the reason rates have been able to move so much lower in 2017 is that inflation metrics have been tepid, at best. Today's reading of 1.4% on a key inflation report (Core PCE) only reinforced that reality. The Fed would like to see that number closer to 2.0% before taking policy action that puts more substantial upward pressure on rates. Does that mean rates will continue lower as long as inflation...(read more)
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Mortgage Rates Slightly Lower Ahead of Big Jobs Report

Posted To: Mortgage Rate Watch

Mortgage rates moved lower today--something they've been more likely to do in general since early July. The gradual downtrend brought them to their best levels of the year on Tuesday. Yesterday saw a modest bounce and today leaves us somewhere in between. Most borrowers will not see any major differences between Tuesday's quotes and todays, except for slightly higher upfront costs in some cases. Part of the reason rates have been able to move so much lower in 2017 is that inflation metrics have been tepid, at best. Today's reading of 1.4% on a key inflation report (Core PCE) only reinforced that reality. The Fed would like to see that number closer to 2.0% before taking policy action that puts more substantial upward pressure on rates. Does that mean rates will continue lower as long as inflation...(read more)
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Peek Inside Kristen Bell & Dax Shepard's New $4.3M Los Feliz Pad

Kristen Bell and Dax Shepard are Hollywood's reigning relationship goals, and now they just might be house goals, too. Their new pad is in the Los Feliz neighborhood of LA, around the corner from Angelina Jolie.

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A Classic, Renovated Home in Beijing with Modern Updates — House Tour

Name: Ashley Chu and Alex Acker
Location: Beixinqiao — Beijing, China
Size: 950 square feet
Years lived in: 3.5 years, renting

Beijing is famous for its centuries-old hutongs — the winding alleyways that once made up the main arteries of the city. They were filled with traditional courtyard homes until the spaces were divided or destroyed to make room for a swelling population. These days, what's left of the ancient hutongs are enticing China expats and a younger generation of locals with their charm. But moving in comes with risks: namely bugs, cold winters, bad plumbing, water damage, and lack of space. So when Ashley Chu and Alex Acker invited a Chinese friend and her mother to come visit their 100-year-old home in the heart of the hutongs, the mother was horrified.

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This Guest Bedroom is Like Your Deepest, Darkest Wallpaper Fantasies Come True — Professional Project

Project by: Karen Knox of Making Spaces
Location: Harrogate, Yorkshire

We've seen Karen work her magic on this Edwardian home before and this go-round is just as stunning as the last. Continuing with the rich colors of the living room, this guest bed refresh is dark and dramatic with an unexpected wallpaper choice thrown into the mix. A few carefully selected furniture pieces play up the "grand design" of the space, filling it with romantic drama.

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First Look: Tour thredUP's New Austin Store

Just steps from department store stalwart Dillard's, thredUP's second brick-and-mortar store wants to "disrupt" everything we think we know about not just secondhand shopping, but retail in general — and a first look at its Austin store, opening tomorrow, did not disappoint. Actually, it was downright dreamy.

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Target Is Set to Debut a Line of $5 Wines — Kitchn

(Image credit: Target)

From Kitchn → Target Is About to Debut a Line of $5 Wines

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One Woman's Timeless "Dream Home" in San Francisco — House Call

Name: Katie
Location: San Francisco, California
The basics: 4 months, rented — 1,100 square feet

Katie managed to find her dream apartment in the notoriously competitive San Francisco rental market. With plenty of space, light and a killer neighborhood, all her apartment was missing was her personal touch. Mixing heirlooms with souvenirs, old favorites with new pieces, she crafted a space that feels classic and welcoming.

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You Have to See Inside This, Like, Totally Untouched '90s House

The dream of the '90s actually isn't in Portland, but in Michigan, where this untouched mansion has not been updated since it was built in 1996. It might be relatively unassuming from the outside, but inside it is basically a pink and turquoise fever dream.

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Before & After: A Sleek, Modern Update to a Tiny Bathroom — Sweeten

(Image credit: Sweeten)

When Maria and Eric bought their two-bedroom apartment in Queens, they knew the bathroom would need an overhaul. Moldering tile and aging, mismatched features meant the bathroom's aesthetics weren't great, but the real issue in this small space was a serious lack of storage. So they set about turning a decrepit space that had seen better days into a bright, modern bathroom — and added a few clever storage solutions along the way.

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Wednesday, August 30, 2017

MBS RECAP: Bond Traders Break Out The Bumpers

Posted To: MBS Commentary

Bond markets had a reasonably good day, all things considered. The caveat is that we shouldn't read much of anything into today's trading because it was exceptionally light and downright mechanical at times. By that I mean that it looks like trading desks had certain technical levels set like bowling bumpers . Every time other traders tried to take yields outside those bumpers, there was an inevitable push back. This was most notable in the early overnight session with multiple successive bounces on both sides of the lane. But the bumpers remained relevant at the busiest time of the morning following the domestic econ data. A true testament to their relevance came in the afternoon. This light volume, illiquid environment is perfect for observing these sorts of mechanical "bumper"...(read more)
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MBS RECAP: Bond Traders Break Out The Bumpers

Posted To: MBS Commentary

Bond markets had a reasonably good day, all things considered. The caveat is that we shouldn't read much of anything into today's trading because it was exceptionally light and downright mechanical at times. By that I mean that it looks like trading desks had certain technical levels set like bowling bumpers . Every time other traders tried to take yields outside those bumpers, there was an inevitable push back. This was most notable in the early overnight session with multiple successive bounces on both sides of the lane. But the bumpers remained relevant at the busiest time of the morning following the domestic econ data. A true testament to their relevance came in the afternoon. This light volume, illiquid environment is perfect for observing these sorts of mechanical "bumper"...(read more)
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Check Out These Floor Plans From Your Favorite TV Businesses

(Image credit: Bizdaq)

If you've ever sat there, watching one of your favorite shows, and thought to yourself that hey, you might just know the layout of that house or that business nearly as well as your own, then you're going to love these floor plans.

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Higher Today, But Still 2nd Best Day of 2017 For Rates

Posted To: Mortgage Rate Watch

Mortgage rates were technically higher today vs yesterday, but unless you've been following day-to-day movements under a microscope, you probably won't mind. Reason being: apart from yesterday, today's rates are still easily the best we've seen since early November 2016. Most of yesterday's rate quotes will be the same, though the upfront costs may be slightly higher today. 3.875% remains the most prevalent top-tier 30yr fixed rate. In general, the bond markets that underlie mortgage rate movement have been doing a good job of maintaining their composure at the best levels of the year. Given that yesterday's improvement was motivated by unexpected headlines (North Korean missile launch) it wouldn't have been a surprise to see a sharper pull-back today. That said, the coming days are not without...(read more)
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Houston Mattress Store Is An Official Shelter Location for Harvey Evacuees

When bad things happen, Mr. Rogers said it best: "Look for the helpers." The Mattress King of Houston is one such individual, as he's opened his showrooms to Harvey evacuees.

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Higher Today, But Still 2nd Best Day of 2017 For Rates

Posted To: Mortgage Rate Watch

Mortgage rates were technically higher today vs yesterday, but unless you've been following day-to-day movements under a microscope, you probably won't mind. Reason being: apart from yesterday, today's rates are still easily the best we've seen since early November 2016. Most of yesterday's rate quotes will be the same, though the upfront costs may be slightly higher today. 3.875% remains the most prevalent top-tier 30yr fixed rate. In general, the bond markets that underlie mortgage rate movement have been doing a good job of maintaining their composure at the best levels of the year. Given that yesterday's improvement was motivated by unexpected headlines (North Korean missile launch) it wouldn't have been a surprise to see a sharper pull-back today. That said, the coming days are not without...(read more)
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The 5/15 Rule Will Keep You Healthier at Work

(Image credit: Jacqueline Marque)

We've all read the studies—sitting all day, especially when combined with minimal exercise, can take a serious toll on your health. According to HuffPost, for example, long periods of sitting have been linked to diabetes, heart disease, cancer, and anxiety.

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The 10 Most Beautifully Organized Drawers on the Internet — Kitchn

(Image credit: IKEA)

From Kitchn → The 10 Most Organized Drawers on the Internet

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The Mega List of Labor Day Sales

Labor Day is coming up, and in between grilling and chilling on this unofficial last weekend of summer, there are lots of ways to save some cash. Retailers are marking down everything to make room for a new season (and new merch). Here's our list of the biggest and best sales happening during Labor Day 2017.

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All About Kansas City, By Locals Who Love It

If you haven't spent much time in Kansas City, you might not realize that it's a city with a vibrant culture, tons of great food (barbecue, of course, but it goes beyond that, too) and friendly, creative people—but that's exactly what it is. It's an up-and-coming city with a lot to offer, so we asked KCMO residents to share what they love about their city, along with their recommendations for visitors and transplants. We know it sounds amazing, but, you know... don't all move there at once.

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The ARM Will Rise Again... Probably

Posted To: MND NewsWire

To paraphrase Mark Twain, reports of the demise of the ARM may have been greatly exaggerated . The market share of ARMs (adjustable rate mortgages) dropped to 2 percent of originations and have fluctuated between 5 and 13 percent since, rising when fixed-rates rise and falling when those rates decline. In the first quarter of this year they accounted for 8 percent of originations. Contrast this with the 45 percent share ARMs represented in mid-2005. However, as Archana Pradhan CoreLogic senior professional economist, writes in the company's Insights blog, if fixed-rate mortgage (FRM) rates increase in the coming year, it is likely the ARM share will as well. Despite their small percentages in the larger universe of mortgage originations, ARMs have consistently been a significant factor for...(read more)
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The ARM Will Rise Again... Probably

Posted To: MND NewsWire

To paraphrase Mark Twain, reports of the demise of the ARM may have been greatly exaggerated . The market share of ARMs (adjustable rate mortgages) dropped to 2 percent of originations and have fluctuated between 5 and 13 percent since, rising when fixed-rates rise and falling when those rates decline. In the first quarter of this year they accounted for 8 percent of originations. Contrast this with the 45 percent share ARMs represented in mid-2005. However, as Archana Pradhan CoreLogic senior professional economist, writes in the company's Insights blog, if fixed-rate mortgage (FRM) rates increase in the coming year, it is likely the ARM share will as well. Despite their small percentages in the larger universe of mortgage originations, ARMs have consistently been a significant factor for...(read more)
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No-Regret Remodeling Projects That Were Worth The Hassle (& Why)

Given the cost, time, and energy renovations take, we all understand how hard they are, not to mention all the anxiety they can generate. But when you know what you want, sometimes it's worth the slight discomfort that comes with taking a risk, working to pull it off, or spending more than you think you should. In the end, you wind up living every day with something that you absolutely love.

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Harvey Hits Mortgages: Flood-Stricken Homeowners Less Likely to Pay

Posted To: MND NewsWire

Houstonians in the flood stricken areas are focused on surviving and looking for a place to stay, not finding a way to pay their monthly bills or mortgage payments on homes that may be destroyed. That is why Fannie Mae, Freddie Mac and the Federal Housing Administration, which back the vast majority of mortgages today, have already announced that they will offer forbearance for at least 90 days to borrowers in the Houston area and could, in some cases, extend that up to a year. That means borrowers would not have to make their monthly payments, and no penalty fees would be charged. Interest, however, would still accrue; the offer is a band-aid, not a cure. It is difficult to know what exactly Houston homeowners will find once the floodwaters recede—whether their homes can be dried out...(read more)
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Harvey Hits Mortgages: Flood-Stricken Homeowners Less Likely to Pay

Posted To: MND NewsWire

Houstonians in the flood stricken areas are focused on surviving and looking for a place to stay, not finding a way to pay their monthly bills or mortgage payments on homes that may be destroyed. That is why Fannie Mae, Freddie Mac and the Federal Housing Administration, which back the vast majority of mortgages today, have already announced that they will offer forbearance for at least 90 days to borrowers in the Houston area and could, in some cases, extend that up to a year. That means borrowers would not have to make their monthly payments, and no penalty fees would be charged. Interest, however, would still accrue; the offer is a band-aid, not a cure. It is difficult to know what exactly Houston homeowners will find once the floodwaters recede—whether their homes can be dried out...(read more)
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Check Out Reese Witherspoon and Ryan Fillippe's $16M Former Fairytale Bel Air Pad

This Bel Air manse has a boatload of charm, and we're not telling Big Little Lies. The former home of Reese Witherspoon and Ryan Fillippe is back on the market for $15.999 million.

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A California Cool Home with Parisian Charm — House Tour

Name: Candace and Jason
Location: West Hollywood, California
Size: 1,000 square feet
Years Lived In: 6 months, renting

Apartment Therapy first caught up with interior designer Candace Soriano (now Rein) and her husband Jason Rein in 2015, touring their Old World Home with Modern California Charm in Hancock Park. While a lot has happened in two years (a wedding, a move, and a new little one on the way, to name a few), Candace has managed to create a whole new charming home just a few miles away by using some of the same pieces and a few new refreshing updates, including a bedroom inspired by the city Jason proposed in — Paris, bien súr.

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How to Stain Wood & Give New Life to Old Furniture — Apartment Therapy Tutorials

(Image credit: Ashley Poskin)

Wood stain can dramatically transform the look of furniture. Whether it's an old valuable beauty you're giving attention to, or a newer inexpensive piece, wood stain is completely worth the while.

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#WCW: If You Love Laidback California Style, You'll Love Sarah Sherman Samuel — 5 Minutes With...

(Image credit: Sarah Sherman Samuel)

If you're a fan of laid back California style, then chances are you've pinned, liked or at least scrolled through images of LA-based designer Sarah Sherman Samuel's interiors. Though she grew up on the water in Michigan, Sarah could write the book on the bright, boho West Coasty thing that's happening in the design world right now.

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Check Out How the Will & Grace Set Got Updated For the Show's New Season — TODAY

(Image credit: TODAY)

It's been 11 years since Will & Grace went off the air. Unless you're as clueless as Jack, you've probably heard that the iconic sitcom is returning to NBC on September 28. Earlier this week, Eric McCormack (who stars as titular character Will Truman) and Sean Hayes (who portrays fabulous friend Jack McFarland) gave TODAY a tour of the show's set. Take a look at what's new and what has stayed the same.

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Before & After: An $80 Sofa Gets an Affordable and Easy Refresh

Amy fell in love with this sofa's good bones and excellent cushions, even though the fabric was a little drab. After inspecting the piece to make sure it wasn't too good to be true, she took it home and got to work and giving it a super easy and affordable refresh.

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MBS Day Ahead: Watching Out For a Post-Korea Bounce

Posted To: MBS Commentary

We've seen it before and we'll likely see it again. Bond markets (and most other markets, for that matter) respond quickly to some unexpected headline, moving to levels they otherwise may not have seen, thus testing the boundaries of whatever range we're following at the time. We then wonder if the move constitutes an official break of the range. Shortly thereafter, markets begin unwinding the initial move and return within the confines of recent ranges. That's the long and the short of the bond market story over the past 2 days following the North Korea missile headlines from Monday afternoon. In general, markets moved " risk-off " starting on Monday night. European markets added to the momentum like a flare-up that chokes the underlying fire . Ever since then, all...(read more)
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