Current Mortgage Rates for Wednesday, August 30, 2017

Investors found some confidence as trading progresses yesterday, bring up mortgage rates slightly. The good news is that rates are still at extremely low levels on the year. The focus now turns back to the economic data, with a key inflation report tomorrow and the monthly jobs report on Friday.

Where are mortgage rates going?     

Rates still near 2017 lows  

Yesterday we saw the markets get spooked after news broke that North Korea launched a ballistic-missile over Japanese airspace. The yield on the 10-year Treasury note (the best market indicator of where mortgage rates are going) sunk as low as 2.09% in early trading, which is its lowest position since a few days after Trump won the presidency.

Click here to get today’s latest mortgage rates (Aug. 30, 2017).    

Mortgage rates tend to move in a similar direction as the 10-year yield, so rates dipped down to extremely accommodating rates yesterday morning. As is often the case with these sudden risk-off geopolitical scenarios, financial market participants found their footing as the day progressed and eventually we saw the markets rise and stabilize at levels actually above where they started the day at.

The yield on the 10-year Treasury note made its way up to 2.14%, which is where it’s still sitting this morning. While that is up a little from yesterday’s downturn, it remains at levels good enough to be a two month low.

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What does this mean for me?          

Lock now while rates are this low 

Borrowers right now are fortunate to be taking action in a very low rate environment. Barring another serious geopolitical scare, it’s unlikely that rates will move any lower. That means that anyone who is considering purchasing or refinancing should take action sooner rather than later.

To get the most accurate idea of what kind of rate we could offer, you should fill out our short form and get a personalized rate quote. Or, if you’d rather talk to someone, you can always call one of our experienced mortgage specialists.

They can walk you through the same process, clarifying any questions you may have, and let you know what your custom rate quote is.

Today’s economic data:           

ADP Employment Report

The ADP employment report this morning is showing 237,000 jobs added in August.

GDP

The second estimate for Q2 GDP got revised higher by four tenths to 3.0%. That’s two tenths higher than what was expected.

EIA Employment Status Report

For the week of 8/25/17

• Crude oil: -5.4 M barrels
• Gasoline: 0.0 M barrels
• Distillates: 0.7 M barrels

Notable events this week:     

Monday:            

• International Trade in Goods
• Dallas Fed Mfg Survey

Tuesday:   

• S&P Corelogic Case-Shiller HPI
• Consumer Confidence

Wednesday:   

• ADP Employment Report
• GDP
• EIA Employment Status Report

Thursday:  

• Jobless Cuts
• Personal Income and Outlays
• Chicago PMI
• Pending Home Sales Index

Friday:    

• Employment Situation
• PMI Manufacturing Index
• ISM Mfg Index
• Construction Spending
• Consumer Sentiment

Rates are still near 2017 lows. Contact us today to see if we can save you money on your home payments.    

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5 Benefits of Cold Showers

Content originally published and Shared from http://perfectbath.com

Showering is an essential part of a healthy routine, but depending on the temperature, your time spent under the water can offer different benefits for your skin and some bodily functions too. Learn about the surprising health benefits of a taking a cold shower in this article.

Image Source: Flickr

Increase Alertness
Taking a cold shower in the morning, and feeling cold water pour down over our body seems more horrifying than soothing. However, the deep breathing in response to our body’s shock helps us keep warm, as it’s increases our overall oxygen intake. Thus, our heart rate will also increase, releasing a rush of blood through our entire body. This gives us a natural dose of energy for the day. Source: MedicalDaily

Stimulate Weight Loss
Another way cold showers will make you look better, is by promoting fat loss.

Most people don’t know this, but there are two types of fat in your body. Brown fat & white fat. White fat is bad. It’s the body fat that we all hate so much. Brown fat is good. It’s function is to generate heat and keep your body warm.

When you take a cold shower, brown fat is activated, resulting in an increase in energy and calories burned to keep your body warm. So much so that according to this study, cold temperatures can increase brown fat by 15X the normal amount, which can result in 9 pounds of weight loss per year. Source: Menprovement

Refine Hair and Skin
If you’d like to reduce the appearance of acne, cold showers could do the job. Hot water dries out your skin, while cold water tightens your cuticles and pores, preventing them from getting clogged. You can also use cold showers for shinier, more attractive hair that your partner can’t resist playing with. Cold water will close your cuticle, making it less likely dirt can accumulate in your scalp. Source: Lifehack

Build Strong Will Power
The next day was more of the same, but I noticed I had more apprehension this time around before hopping in the shower. This trend continued throughout the following mornings as well. If I knew how great it made me feel, then why didn’t I eagerly throw myself underneath the icy spray? The experience reminded me of a famous old saying, one that has been attributed to a bunch of authors: “I don’t enjoy writing. I enjoy having written.” I don’t like taking cold showers, I just like the way they make me feel after I’ve already dried off.

The week has been a success, and I’ve assured myself that I will keep taking cold showers in the mornings. However, it won’t be easy. I mean, have you taken a hot shower? It’s the best.  Source: Prevention

Strengthen Immunity
According to a study done in 1993 by the Thrombosis Research Institute in England, individuals who took daily cold showers saw an increase in the number of virus fighting white blood cells compared to individuals who took hot showers. Researchers believe that the increased metabolic rate, which results from the body’s attempt to warm itself up, activates the immune system and releases more white blood cells in response. Source: Artofmanliness

 

Contact:
Perfect Bath
Phone: Toll Free 1-866-843-1641
Calgary, Alberta
Email: info@perfectbath.com

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Current Mortgage Rates for Tuesday, August 29, 2017

A surprise missile launch from North Korea is putting downward pressure on mortgage rates today. It’s just too much uncertainty for financial market participants to take, and so they’ve gone in risk-off mode into government bonds. Read on for more details.

Market Outlook 8.28.17 from Total Mortgage on Vimeo.

Where are mortgage rates going?    

Rates tumble after North Korea missile launch           

Mortgage rates are tumbling lower this morning after North Korea surprises the world with a ballistic-missile test over Japanese airspace. Tensions had eased in recent days but now with the most bold and provocative act yet from the east Asian nation, we’re back to military jawboning and uncertainty.

Click here to get today’s latest mortgage rates (Aug. 29, 2017).    

Financial market participants immediately rushed into the perceived safe haven of government bonds. The yield on the 10-year Treasury note (the best market indicator of where mortgage rates are going) is down five basis points today to 2.10%.

That’s the lowest level it’s been at since just days after President Trump won a surprise victory over Hilary Clinton. Mortgage rates typically trend in the same direction as the 10-year yield, so rates have improved and are down at very low levels right now.

The geopolitical chessboard has provided several surprise events recently that have really thrown a wrench in our forecasts. Looking at the economic calendar for the week, the focus was supposed to be on the economic data such as GDP, PCE, and the jobs report.

Those reports will still have an effect on the markets but we’re now at a much different starting point than we were yesterday. The good news for borrowers is that mortgage rates have fallen and are at very accommodating levels.

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What does this mean for me?          

Take advantage of the dip and lock now

Mortgage rates are down right now and there’s really no telling how long they’ll stay there. The situation with North Korea is back on very shaky ground, but as we’ve seen before, rates could move up at a moment’s notice. If you’ve been thinking about refinancing or purchasing, our recommendation is to lock in a rate sooner rather than later.

To get the most accurate idea of what kind of rate we could offer, you should fill out our short form and get a personalized rate quote. Or, if you’d rather talk to someone, you can always call one of our experienced mortgage specialists.

They can walk you through the same process, clarifying any questions you may have, and let you know what your custom rate quote is.

Today’s economic data:           

S&P Corelogic Case-Shiller HPI

The 20-city case-shiller housing price index is showing seasonally adjusted prices for June rose 0.1%. The non-seasonally adjusted reading had prices up 0.7%. That puts the NSA year over year rate at 5.7%.

Consumer Confidence

Consumer confidence

Notable events this week:     

Monday:            

• International Trade in Goods
• Dallas Fed Mfg Survey

Tuesday:   

• S&P Corelogic Case-Shiller HPI
• Consumer Confidence

Wednesday:   

• ADP Employment Report
• GDP
• EIA Employment Status Report

Thursday:  

• Jobless Cuts
• Personal Income and Outlays
• Chicago PMI
• Pending Home Sales Index

Friday:    

• Employment Situation
• PMI Manufacturing Index
• ISM Mfg Index
• Construction Spending
• Consumer Sentiment

Rates are still near 2017 lows. Contact us today to see if we can save you money on your home payments.    

from Total Mortgage Underwritings Blog http://ift.tt/2xJPfHi

Current Mortgage Rates for Monday, August 28, 2017

Mortgage rates are at some of the lowest levels of the year as we start the week. There is a lot of economic data out over the next several days, culminating with the monthly jobs report for August on Friday. Given all of the data, there could definitely be some rate volatility beginning on Wednesday. Anyone who wishes to avoid dealing with that should lock before then. Read on for more details.

Where are mortgage rates going?        

Busy week for economic data – Rates still near year lows     

It’s a fairly busy week ahead for economic data in the U.S. The action really begins to pick up on Wednesday when the second estimate for second-quarter GDP gets released. Analysts are calling for a two tenths increase to the first reading, bringing it up to 2.8%.

Click here to get today’s latest mortgage rates (Aug. 28, 2017).  

On Thursday we get the Fed’s favorite inflation reading: Core PCE. Inflation hasn’t been performing as strongly as Fed officials would like in 2017, and has played a big factor in the decision to keep the federal funds rate where it is.

Financial market participants will certainly be watching this report with a keen eye. If we did see a significant increase to Core PCE, that would likely put upward pressure on mortgage rates.

Finally, on Friday we wrap the week up with the Employment Situation (a.k.a. the monthly jobs report) for August. Analysts are expecting around 180,000 private sector jobs added to the U.S. economy in August.

That’s down from July’s impressive 209,000, but still a strong enough reading to keep up investors optimism about the labor market. As is the case with any jobs report, the greatest adjustment to mortgage rates will happen if the headline reading is either far above or below what is projected. A surprisingly strong reading would send rates higher and vice versa for a disappointingly low reading.

The good news for borrowers is that mortgage rates are very close to 2017 lows right now. The yield on the 10-year Treasury note (which is the best market indicator of where mortgage rates are going) is down at 2.16%–a two month low. Mortgage rates typically move in the same direction as the 10-year yield, so rates are at very accommodating levels right now.

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What does this mean for me?          

Lock now while rates are this low

Mortgage rates are starting the week at some of the lowest levels of the year. No one knows exactly what will happen when all of the domestic data gets released this week, but there is definitely a lot of potential for some rates adjustments. If you don’t want to risk dealing with higher rates, then you should lock now and take the sure thing.

To get the most accurate idea of what kind of rate we could offer, you should fill out our short form and get a personalized rate quote. Or, if you’d rather talk to someone, you can always call one of our experienced mortgage specialists.

They can walk you through the same process, clarifying any questions you may have, and let you know what your custom rate quote is.

Today’s economic data:          

International Trade in Goods

The nation’s trade deficit widened to $65.1 B in July.

Dallas Fed Mfg Survey

The Dallas Fed Mfg Survey for August came in at a 20.3. That’s down slightly from the prior reading of 22.3.

Notable events this week:     

Monday:            

• International Trade in Goods
• Dallas Fed Mfg Survey

Tuesday:   

• S&P Corelogic Case-Shiller HPI
• Consumer Confidence

Wednesday:   

• ADP Employment Report
• GDP
• EIA Employment Status Report

Thursday:  

• Jobless Cuts
• Personal Income and Outlays
• Chicago PMI
• Pending Home Sales Index

Friday:    

• Employment Situation
• PMI Manufacturing Index
• ISM Mfg Index
• Construction Spending
• Consumer Sentiment

Rates are still near 2017 lows. Contact us today to see if we can save you money on your home payments.    

from Total Mortgage Underwritings Blog http://ift.tt/2vCBNnm

Basalt by Pennyfarthing– Prices, Plans, Availability

At a Glance

• attractive Cambie Corridor location
• 6-storey concrete building
• 49 family-friendly condominiums
• 3 two-storey townhouses
• steps from Queen Elizabeth Park
• close to Hillcrest Community Centre recreation
• near Oakridge Shopping Centre
• easy access to Canada Line

Marked by Refinement
The Cambie Collection by Pennyfarthing Homes continues its legacy on Vancouver’s West Side with Basalt, 51 contemporary residences, located at 35th Avenue and Cambie Street. Marked by refinement, this fourth chapter of the Cambie Story exemplifies Pennyfarthing’s continued commitment to design excellence and quality craftsmanship. Find balance with nature at Queen Elizabeth Park just steps away, and live amid a diverse selection of amenities on the Cambie Corridor.

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Basalt’s excellent West Side location provides you and your family with an enviable choice of shopping, services, schools, and recreation within easy walking distance. Just a short stroll down Cambie Street is Oakridge Centre with grocery shopping at Kin’s Farmers Market and Safeway, banks, a pharmacy, post office, public library, telecom providers, medical centre, cafes, restaurants, Hudson’s Bay department store, home decor stores, travel agencies, boutique shopping, and specialty shops. Enjoy unparalleled leisure activities at Queen Elizabeth Park, Hillcrest Community Centre, Nat Bailey Stadium, Riley Park, and Vancouver Racquets Club. Experience convenience by design at Basalt.

Pricing for Basalt
As this project is in pre-construction, Pennyfarthing has not yet released pricing information. Given the success of Pennyfarthing’s other Cambie Corridor projects, however, expect Basalt to sell out quickly. Sign up to our VIP list today to ensure you receive updates on all the latest developments.

Floor Plans for Basalt
Basalt will offer the following family-friendly mix of residences:

• 8 x 3-bedrooms
• 27 x 2-bedrooms
• 12 x 1-bedrooms
• 1 studio
• 3 x 2-bedroom townhouses

Those with a serious interest in living at Basalt should contact me to discuss availability, plans, and pricing.

Amenities at Basalt
Residents will enjoy use of a shared amenity space on the ground floor and a landscaped courtyard between the main building and the laneway townhomes. Each of the ground floor units have private patios, while top-floor penthouse suites include a private rooftop patio.

Parking and Storage
Vehicle and bicycle parking are provided within two levels of underground parking accessed from the lane. Plans propose 65 parking spaces, of which three are handicapped, 64 bicycle spaces, and one Class A loading bay. Each townhouse will have private access to its own parking space. Most residences will have their own in-suite storage. There will also be 17 bulk storage spaces on level P2 of the underground.

Maintenance Fees at Basalt
To be included in final pricing information.

Developer Team for Basalt
Since its formation in 1980, Pennyfarthing Homes has fulfilled the home ownership dreams of nearly 3,000 home buyers throughout the Lower Mainland, Washington State, and California, all the while setting exacting standards of integrity, reliability and professionalism. Following on Bennington House, Grayson, and Hawthorne, this is Pennyfarthing’s fourth Cambie Corridor development.

Pennyfarthing has chosen Shift Architecture to design Basalt. Shift is a high-performance practice with a track record of respected, inspired projects throughout Vancouver and the Lower Mainland. With proven expertise in multi-family housing, Shift boasts a diverse portfolio of residential, commercial, healthcare, and mixed-use developments. Renowned for its collaborative design process, Shift’s team of core personnel draws upon a deep collective well of experience spanning decades.

Expected Completion for Basalt
Estimated sales launch is Fall 2017.

Are you interested in learning more about other homes in the Cambie Corridor, Kerrisdale, or Mount Pleasant?

Check out these great Cambie Corridor Presales!

The post Basalt by Pennyfarthing– Prices, Plans, Availability appeared first on Mike Stewart.

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Current Mortgage Rates for Friday, August 25, 2017

The week is winding down and mortgage rates are now at some of the lowest levels they’be been at all week. Janet Yellen’s speech today didn’t mention monetary policy at all and as a result mortgage rates improved a bit. This is good news for anyone looking to lock a rate on a purchase or refinance. Read on to get the details.

Where are mortgage rates going?   

Rates finish the week lower  

There had been a lot of excitement this week around Janet Yellen’s speech at the Jackson Hole Symposium today. In the end, though, her words came and went without any real insight about the future of Fed policy.

Click here to get today’s latest mortgage rates (Aug. 25, 2017).  

Instead, she chose to talk about banking regulations and the financial system. It was a definite downer for anyone who was hoping that she would try to steer the markets back on track for a 2017 rate hike.

Upon realization that nothing of import was going to be said, financial market participants moved more into bonds, pushing down the yield on the 10-year Treasury note (the best market indicator of where mortgage rates are going).

That yield right now is at 2.17%–just one basis point off from a two month low. Mortgage rates usually move in the same direction as the 10-year yield so rates are similarly down at very low levels.

That was made clear in yesterday’s Freddie Mac Primary Mortgage Market Survey (PMMS), which showed the average rate on a 30-year fixed rate mortgage at a year-to-date low of 3.86% (0.5 point).

Looking ahead to next week, the big market moving event should be the monthly employment situation on Friday.

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What does this mean for me?        

Take advantage of some of the best rates of the year

Mortgage rates improved this week and are now at some of the lowest levels of 2017. That’s great news for anyone who has been considering a purchase or refinance. You never know when rates will spike so the prudent decision is to lock now while you have the sure thing.

To get the most accurate idea of what kind of rate we could offer, you should fill out our short form and get a personalized rate quote. Or, if you’d rather talk to someone, you can always call one of our experienced mortgage specialists.

They can walk you through the same process, clarifying any questions you may have, and let you know what your custom rate quote is.

Today’s economic data:          

Jackson Hole Symposium

• The Jackson Hole Symposium continues today.

Durable Goods

New orders fell 6.8% for July, putting them at 4.2% year over year. Ex-transportation they saw a 0.5% rise, making it 5.6% year over year. Core capital goods rose 0.4%, putting it at 3.5% year over year.

Fedspeak

• Fed Chair Janet Yellen at 10:00am.

Notable events this week:     

Monday:            

• Chicago Fed National Activity Index

Tuesday:   

• FHFA House Price Index
• Richmond Fed Mfg Index

Wednesday:   

• New Home Sales
• PMI Composite Flash
• EIA Petroleum Status
• Fedspeak

Thursday:  

• Jackson Hole Symposium
• Jobless Claims
• Existing Home Sales

Friday:    

• Jackson Hole Symposium
• Durable Goods
• Fedspeak

Rates are still near 2017 lows. Contact us today to see if we can save you money on your home payments.    

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And You Thought Ray Bourque’s Wrist Shot Was Accurate…..(VIDEO)

Boston Bruins great and hall of famer Ray Bourque does what most retired hockey players do…play golf. Now you thought #77 had an accurate and fast slapshot….. Check this out. Not a bad tool to have in the golf bag. http://pic.twitter.com/eMsnnKt6WA — Ray Bourque (@RayBourque77) August 24, 2017 Kind of reminds me of this…. You [...]

The post And You Thought Ray Bourque’s Wrist Shot Was Accurate…..(VIDEO) appeared first on Boston Sports Then & Now.

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Current Mortgage Rates for Thursday, August 24, 2017

Recent political drama combined with low inflation numbers have kept mortgage rates at very low levels. Today, the Freddie Mac PMMS came out and it showed the average on the 30-year fixed at a new year low. This is great news for anyone looking to purchase or refinance. Read on to get the details.

Where are mortgage rates going?   

Rates fall to new 2017 lows in Freddie Mac PMMS

It’s been a bumpy road for mortgage rates the past several weeks. At the start of the year, analysts had predicted that pro-growth policies from the Trump administration combined with gradual rate hikes from the Fed could move rates up into the 4.5% range for the 30-year fixed.

Clearly, though, that has not happened, nor does it appear that it will happen by the time 2018 rolls around. President Trump has faced much difficulty getting his policies into action, and has created much uncertainty with his various sporadic outbursts.

Click here to get today’s latest mortgage rates (Aug. 24, 2017).  

Most recently, his threat to shutdown the government if the border wall didn’t get funding caused the 10-year Treasury yield (the best market indicator of where mortgage rates are going) to have its largest single day decline in over a month on Wednesday.

On top of the political drama, the Fed is dealing with inflation numbers that don’t want to cooperate. All of their favorite readings are continuing to fall short of their 2% target.

The chances of another quarter point rate hike in 2017 currently stand at about 40% according to the CME Group’s Fed Funds futures. It’s not surprising then, that this week’s Freddie Mac Primary Mortgage Market Survey (PMMS) is showing rates at new 2017 lows. Here are the numbers:

• The average rate on a 30-year fixed rate mortgage fell three basis points to 3.86% (0.5 point)
• The average rate on a 15-year fixed rate mortgage remained unchanged at 3.16% (0.5 point)
• The average rate on a 5/1-year adjustable rate mortgage moved up one basis point to 3.17% (0.5 point)

That’s a new year low by two basis points for the 30-year. Here is what chief economist at Freddie Mac, Sean Becketti, had to say about rates this week:

“The 10-year Treasury yield fell 6 basis points this week amid concerns over lagging inflation. The 30-year mortgage rate also declined for the fourth consecutive week, dropping 3 basis points to a new year-to-date low of 3.86 percent.”

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What does this mean for me?        

Lock now while rates are at new lows

Mortgage rates are currently positioned at some of the lowest rates they’ve been at all year. That is obviously great news for anyone who is looking to refinance their current mortgage or purchase a new home. If you can, our recommendation is for borrowers to lock in now while rates are this low.

To get the most accurate idea of what kind of rate we could offer, you should fill out our short form and get a personalized rate quote. Or, if you’d rather talk to someone, you can always call one of our experienced mortgage specialists.

They can walk you through the same process, clarifying any questions you may have, and let you know what your custom rate quote is.

Today’s economic data:           

Jackson Hole Symposium

The Kansas City Fed’s annual meeting of the minds kicks off today. Both Fed Chair Janet Yellen and European Central Bank President Mario Draghi will speak tomorrow.

Jobless Claims

Applications for U.S. unemployment benefits moved up by 2,000 this week to 234,000.

Existing Home Sales

Existing home sales missed expectations in July, coming in at an annualized rate of 5.440 M. That’s 1.3% decline from June.

Notable events this week:     

Monday:            

• Chicago Fed National Activity Index

Tuesday:   

• FHFA House Price Index
• Richmond Fed Mfg Index

Wednesday:   

• New Home Sales
• PMI Composite Flash
• EIA Petroleum Status
• Fedspeak

Thursday:  

• Jackson Hole Symposium
• Jobless Claims
• Existing Home Sales

Friday:    

• Jackson Hole Symposium
• Durable Goods
• Fedspeak

Rates are still near 2017 lows. Contact us today to see if we can save you money on your home payments.    

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Choosing a Bathroom Countertop

Content originally published and Shared from http://perfectbath.com

Choosing amongst the various types of vanity top will depend on a number of factors. Appearance and ease of maintenance are two of the main things to consider. Here are three of the best materials you can find:

Image Source: Flickr

Granite and Marble
In a master bath, it pays to install granite or marble, which attract buyers at resale and give the vanity top a rich, sleek look. And with affordable “grades” of granite available on the market today, you don’t have to empty your wallet for this feature. You will, of course, spend more on granite than laminate, but the result is a surface that can handle heat and wear. Be advised: granite must be sealed to repel grease (which you could run into in hair products and such). Marble stains easily, while granite stands up to most stains. Source: HGTV

Ceramic
Ceramic is another common material used in the construction of vanity tops. This material offers almost unlimited color choices and is easily cleaned and maintained. Ceramic is typically manufactured in both glazed and unglazed finishes. It is also possible to mix different colors and textures for a customized look. A grout sealer should be used for ceramic countertop applications to prevent the growth of mildew. Source: WiseGeek

Manufactured Quartz
Manufactured quartz is one of the most popular options for countertops of all types, including bathroom vanities. It looks similar to a natural stone, like limestone, granite, or marble, but it is more durable and better equipped to resist stains and scratching. Quartz is actually a synthetic composite, comprised of about ninety percent quartz particles. It can be ordered in a range of colors and customizable thickness options, and it is a great choice if you want a unique or customized vanity edge. Source: Ebay

We can help you find the best quality vanity that will perfectly fit your bathroom. Contact us!

Contact:
Perfect Bath
Phone: Toll Free 1-866-843-1641
Calgary, Alberta
Email: info@perfectbath.com

The post Choosing a Bathroom Countertop appeared first on Perfect Bath Canada.

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Current Mortgage Rates for Wednesday, August 23, 2017

Comments from President Trump about a possible government shutdown if the border wall doesn’t get funded are pushing mortgage rates lower today. The uncertainty is something that investors can’t fully overcome, and has created a somewhat risk-off environment. That means that rates are even closer to 2017 lows. Read on to get the details.

 

Where are mortgage rates going?   

 

Rates lower off Trump comments

Last night, President Trump gave a speech at a rally in Phoenix, Arizona, during which he threatened to shut down the government if funding for a border wall was not appropriated. The comments have created a risk-off environment in the markets this morning, pushing stocks and Treasury yields lower.

Click here to get today’s latest mortgage rates (Aug. 23, 2017).  

The yield on the 10-year Treasury note (the best market indicator of where mortgage rates are going) is down almost three basis points from the start of the trading session today. That brings it to 2.18%–almost a two month low. Mortgage rates typically move in the same direction as the 10-year yield, so rates are trending a little lower this morning.

It’s another surprising political statement that is having an effect on the markets. That’s kind of been par for the course over the last few months now, making it harder and harder to predict where rates will go on any given day. We can still make assumptions based off the economic calendar, but there’s no road-map for off the cuff remarks from political leaders.

Fortunately for borrowers, the remarks this year have mostly created uncertainty and kept rates at very accommodating levels. That’s because the more uncertainty there is, the less comfortable investors are with taking on risky assets like stocks.

Instead, they choose to put their money in the relative safety of government bonds. Mortgage backed securities compete for similar types of investors as these government bonds, and as such, adjust their yields accordingly.

The Jackson Hole Symposium kicks off tomorrow so keep an eye on news out from there to affect the markets.

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What does this mean for me?        

 

Rates near 2017 lows – great time to lock

Mortgage rates are down today, putting them ever-closer to 2017 lows. That is great news for anyone who is looking to lock in a rate, be it on a purchase or refinance. It’s hard to imagine that rates will go much lower than this anytime soon, so our recommendation is to lock now if you can.

To get the most accurate idea of what kind of rate we could offer, you should fill out our short form and get a personalized rate quote. Or, if you’d rather talk to someone, you can always call one of our experienced mortgage specialists.

They can walk you through the same process, clarifying any questions you may have, and let you know what your custom rate quote is.

Today’s economic data:          

PMI Composite Flash

The PMI composite flash for August came in at 56.0. Manufacturing came in at 52.5 and services at 56.9. It’s a mixed report with manufacturing coming in below expectations and the other two readings above.

New Home Sales

New home sales for July came in at an annualized rate of 571,000, which is below the 610,000 that was expected.

EIA Petroleum Status

For the week of 8/18/17:

• Crude oil: -3.3 m barrels
• Gasoline: -1.2 M barrels
• Distillates: 0.0 M barrels

Fedspeak

• Dallas Fed President Robert Kaplan at 1:00pm

Notable events this week:     

Monday:            

• Chicago Fed National Activity Index

Tuesday:   

• FHFA House Price Index
• Richmond Fed Mfg Index

Wednesday:   

• New Home Sales
• PMI Composite Flash
• EIA Petroleum Status
• Fedspeak

Thursday:  

• Jackson Hole Symposium
• Jobless Claims
• Existing Home Sales

Friday:    

• Jackson Hole Symposium
• Durable Goods
• Fedspeak

Rates are still near 2017 lows. Contact us today to see if we can save you money on your home payments.    

from Total Mortgage Underwritings Blog http://ift.tt/2xsJOwa

Current Mortgage Rates for Tuesday, August 22, 2017

It’s a fairly slow day with not much economic data out. Mortgage rates are up slightly but remain very close to 2017 lows. This is great news for anyone who is on the market for a new home or a refinance. Looking ahead to the rest of the week we start to get more and more economic data leading up to the Jackson Hole Symposium. It’s very possible that rates will adjust over the next few days, so keep an eye on the markets.

Market Outlook 8.21.17 from Total Mortgage on Vimeo.

Where are mortgage rates going?   

Rates up a little today – still near 2017 lows 

Mortgage rates are a little higher this morning. The yield on the 10-year Treasury note (which is the best market indicator of where mortgage rates are going) is up a little over two basis points right now, bringing it to 2.21%. Yesterday, it dipped down to 2.18%–it’s lowest position in two months. Mortgage rates generally move in the same direction as the 10-year yield, so rates are up a touch on the day.

Click here to get today’s latest mortgage rates (Aug. 22, 2017).    

The Jackson Hole Symposium will kick off on Thursday, and will be the big event for investors this week. Fed Chair Janet Yellen will be there and is slated to speak on Friday. At this point, no one is expecting her to take the opportunity to signal any major changes in monetary policy.

European Central Bank President Mario Draghi is also scheduled to talk on Friday, but similarly, it’s unlikely that he will use the stage to make any sudden changes. Still, the event is going to be closely watched by financial market participants across the globe so there is always the potential for something to spark a rally or slide.

The key for mortgage rates is the overall consensus on the economy. If the talks coming out of Jackson Hole are optimistic and point toward a strong economy, that could put upward pressure on rates. On the other hand, if speakers come off as cautious and somewhat concerned, that would likely put downward pressure on rates.

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What does this mean for me?        

Rates still near year lows  

 

Mortgage rates are still at some of the lowest levels they’ve been at all year. If you are currently thinking about going through with a purchase or refinance, it definitely makes sense to dig a little deeper into the numbers to see if it makes financial sense.

With rates as low as they are right now, the opportunity is there for some borrowers to lock in a great rate for years to come.

To get the most accurate idea of what kind of rate we could offer, you should fill out our short form and get a personalized rate quote. Or, if you’d rather talk to someone, you can always call one of our experienced mortgage specialists.

They can walk you through the same process, clarifying any questions you may have, and let you know what your custom rate quote is.

Today’s economic data:          

 

FHFA House Price Index

The FHFA house price index came in for June with a 0.1% rise. That’s below the consensus for 0.5%, and brings the year over year rate to 6.5%.

Richmond Fed Mfg Index

The Richmond Fed mfg index came in at a 14 for August. That’s above the consensus for an 11, and is even outside the high estimate for a 12.

Notable events this week:     

Monday:            

• Chicago Fed National Activity Index

Tuesday:   

• FHFA House Price Index
• Richmond Fed Mfg Index

Wednesday:   

• New Home Sales
• EIA Petroleum Status
• Fedspeak

Thursday:  

• Jackson Hole Symposium
• Jobless Claims
• PMI Composite Flash
• Existing Home Sales

Friday:    

• Jackson Hole Symposium
• Durable Goods
• Fedspeak

Rates are still near 2017 lows. Contact us today to see if we can save you money on your home payments.    

from Total Mortgage Underwritings Blog http://ift.tt/2xoUT1w

Current Mortgage Rates for Monday, August 21, 2017

It’s the start to another week and mortgage rates are basically flat. Looking at the economic calendar for this week there’s nothing that really pops out as a major market moving release. We do get a few reports at the end of the week, along with the Jackson Hole Symposium, but it’s not a guarantee that those events will have a noticeable effect on rates. That could mean that rates stay near 2017 lows for a little while longer.

Where are mortgage rates going?   

Rates are flat to start the week 

Not much is happening in the markets right now. There’s no significant economic data out today, so we could see things stay relatively calm until tomorrow. In fact, with no big market-moving reports on the horizon, there is the potential for the whole week to be fairly calm.

Click here to get today’s latest mortgage rates (Aug. 21, 2017).    

Of course, it’s impossible to completely rule out any geopolitical drama, but sans that we could be in for a quiet summer week. Thursday and Friday are definitely the days with the greatest likelihood of some action.

On Thursday, the Jackson Hole Symposium kicks off and we get the PMI Composite Flash report. Then on Friday, the Durable Goods report will be released and we hear from Fed Chair Janet Yellen. With so many unplanned events popping up and influencing the market lately, it’s hard to hang your hat on where mortgage rates will be as we head into the weekend.

All we can do is go with certain assumptions. If the economic data on Thursday and Friday points toward growth, and Janet Yellen isn’t too dovish during her talk, then it’s possible rates inch up a few basis points.

On the other hand, disappointing data and a dovish Yellen would certainly send rates lower. Whatever happens, though, it’s unlikely that mortgage rates will stray too far in either direction (unless, of course, there is some serious geopolitical chaos).

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What does this mean for me?        

Rates still near year lows 

Mortgage rates are continuing to hang around 2017 lows. This is great news for anyone who is either looking to refinance their current mortgage or purchase a new home. It seems like rates might stay here for at least a few days, but mortgage rates can be incredibly fickle.

Our recommendation is to find out what you’re custom rate would be and to lock it in if you find that it’s a good deal.

To get the most accurate idea of what kind of rate we could offer, you should fill out our short form and get a personalized rate quote. Or, if you’d rather talk to someone, you can always call one of our experienced mortgage specialists.

They can walk you through the same process, clarifying any questions you may have, and let you know what your custom rate quote is.

Today’s economic data:         

Chicago Fed National Activity Index

The reading for July came in at -0.01. That puts the 3-month average at -0.05. The consensus was for 0.22.

Notable events this week:     

Monday:           

• Chicago Fed National Activity Index

Tuesday:   

• FHFA House Price Index
• Richmond Fed Mfg Index

Wednesday:   

• New Home Sales
• EIA Petroleum Status
• Fedspeak

Thursday:  

• Jackson Hole Symposium
• Jobless Claims
• PMI Composite Flash
• Existing Home Sales

Friday:    

• Jackson Hole Symposium
• Durable Goods
• Fedspeak

Rates are still near 2017 lows. Contact us today to see if we can save you money on your home payments.    

from Total Mortgage Underwritings Blog http://ift.tt/2v74SHS

Current Mortgage Rates for Friday, August 18, 2017

Uncertainty has been the theme of the week. It started with the Fed minutes on Wednesday and continued Thursday with political concerns with the Trump administration. Without a clear path ahead, investors moved more into government bonds pushing Treasury yields and mortgage rates lower. This is good news for anyone who has been thinking about a purchase or refinance.

Where are mortgage rates going?

Rates move lower on economic uncertainty          

It’s been a somewhat hectic past couple of weeks with many surprises that have put the markets on a cloudy path. On Wednesday, the Fed’s FOMC minutes came out and revealed that there is a definite division at the Fed between those who want to stay the course and continue to raise the federal funds rate in 2017 and those who would wish to wait it out until there is more clarity on inflation.

Click here to get today’s latest mortgage rates (Aug. 18, 2017).    

With the internal split now out in the open, investor skepticism about another rate hike in 2017 is about as high as it has been in the past couple of months. Such doubt caused many investors to move out of stocks and into bonds, pushing Treasury yields lower on Wednesday afternoon.

Then yesterday, reports that Gary Cohn, due to mounting pressure from his financial market peers, would resign as chief economic advisor to President Trump sent even more investors into the perceived safety of government bonds.

The yield on the 10-year Treasury note (the best market indicator of where mortgage rates are going) is currently down to 2.18%. That’s about ten basis points below where it was at its peak on Wednesday morning and about two basis points below where it started the week.

Mortgage rates typically move in the same direction as the 10-year yield, so rates are slightly down on the week. It doesn’t seem as though it will happen at the moment, but if Cohn were to resign, that would definitely send the markets reeling and we could see a big drop in Treasury yields and mortgage rates.

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What does this mean for me?     

Take advantage and lock in a rate today 

Mortgages rates were already at the lower end of the spectrum for 2017 and now they’ve improved a little bit. That makes right now the perfect time for borrowers to lock in a rate on a purchase or refinance.

To get the most accurate idea of what kind of rate we could offer, you should fill out our short form and get a personalized rate quote. Or, if you’d rather talk to someone, you can always call one of our experienced mortgage specialists.

They can walk you through the same process, clarifying any questions you may have, and let you know what your custom rate quote is.

Today’s economic data:       

Consumer Sentiment

• 10:00am

Notable events this week:    

Monday:          

• Nothing

Tuesday:   

• Retail Sales
• Empire State Mfg Survey
• Import and Export Prices
• Business Inventories
• Housing Market Index

Wednesday:   

• Housing Starts
• EIA Petroleum Status
• FOMC Minutes

Thursday:  

• Jobless Claims
• Philly Fed Business Outlook
• Industrial Production

Friday:    

• Consumer Sentiment

Rates are still near 2017 lows. Contact us today to see if we can save you money on your home payments.    

from Total Mortgage Underwritings Blog http://ift.tt/2idz8z0

Current Mortgage Rates for Thursday, August 17, 2017

The minutes from the Federal Reserve’s FOMC meeting a few weeks ago were released yesterday and it revealed that there is definitely some economic uncertainty in the air. With no clear path ahead, investors moved more into government bonds, pushing mortgage rates lower. That trend is continuing today, keeping rates near 2017 lows.

Where are mortgage rates going?           

Rates move lower after Fed minutes

The big market-moving news yesterday was the minutes from the Federal Reserve’s FOMC meeting a few weeks ago. Somewhat surprisingly, the notes showed that a divide is forming at the Fed between the doves and the hawks.

Click here to get today’s latest mortgage rates (Aug. 17, 2017).    

On the one hand, the doves are concerned that inflation is showing no signs of picking up to the Fed’s target of 2%. Until there is clear evidence of that happening, they do not feel comfortable raising the federal funds rate any further.

On the other hand, the hawks are arguing that the labor market is strong and that failing to increase rates right now will cause them to overshoot their employment target. The situation is a tricky one and it’s definitely creating some tension at the Eccles Building.

It’s not that investors were caught off-guard, exactly, but this is one of the first times that we have seen a clear split in 2017 between those who would like to continue on the current path and those who would like to wait. Also of note is the omission of any target date for the Fed to begin unwinding its balance sheet.

The result in the markets was a slight shift out of stocks and into bonds, pushing Treasury yields lower. The yield on the 10-year Treasury note (the best market indicator of where mortgage rates are going) fell about four basis points in afternoon trading yesterday. Right now, at 2.12%, it’s down about seven basis points from where it was this time yesterday.

Mortgage rates typically move in the same direction as the 10-year yield so rates have improved over the past 24 hours. That means that they are continuing to run close to 2017 lows.

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Mortgage rates fall again in Freddie Mac PMMS

For the second week in a row mortgage rates fell in the Freddie Mac Primary Mortgage Market Survey (PMMS). Here are the numbers:

• The average rate on a 30-year fixed rate mortgage fell one basis point to 3.89% (0.4 point)
• The average rate on a 15-year fixed rate mortgage fell two basis points to 3.16% (0.5 point)
• The average rate on a 5-year adjustable rate mortgage ticked up two basis points to 3.16% (0.4 point)

That puts the 30-year fixed just one basis point above the low for 2017 logged back in early June. Here is what chief economist at Freddie Mac, Sean Becketti, had to say about rates this week:

“Following a mild decline last week, the 10-year Treasury yield rose 1 basis point this week. The 30-year mortgage rate similarly remained relatively flat, falling just 1 basis point to 3.89 percent. Mortgage rates are continuing to hold at low levels amidst ongoing economic uncertainty.”

What does this mean for me?     

Lock now while rates are low

Mortgage rates are at some of the best levels they’ve been at all year. If you can, it definitely makes sense to lock in a rate on a purchase or refinance right now while rates are this low.

To get the most accurate idea of what kind of rate we could offer, you should fill out our short form and get a personalized rate quote. Or, if you’d rather talk to someone, you can always call one of our experienced mortgage specialists.

They can walk you through the same process, clarifying any questions you may have, and let you know what your custom rate quote is.

Today’s economic data:      

Jobless Claims

Applications for unemployment benefits came in at 232,000 for the week of 8/12/17. That’s 8,000 below the consensus. The 4-week moving average is now at 240,500.

Philly Fed Business Outlook

The General Business Conditions Index from the Philly Fed came in at a strong 18.9 for August. That’s slightly below the prior reading but still above the consensus for 17.0.

Industrial Production

Industrial production ticked up 0.2% for July. Disappointingly, manufacturing fell by 0.1%.

Notable events this week:    

Monday:          

• Nothing

Tuesday:   

• Retail Sales
• Empire State Mfg Survey
• Import and Export Prices
• Business Inventories
• Housing Market Index

Wednesday:   

• Housing Starts
• EIA Petroleum Status
• FOMC Minutes

Thursday:  

• Jobless Claims
• Philly Fed Business Outlook
• Industrial Production

Friday:    

• Consumer Sentiment

Rates are still near 2017 lows. Contact us today to see if we can save you money on your home payments.    

from Total Mortgage Underwritings Blog http://ift.tt/2uTOzyd

Finding My Tribe — The Upside of the Downcast Year

Zeo Kits Townhomes – Prices, Plans, Availability

At a Glance

• exceptional Kitsilano location
• five 3- & 4-bedroom townhomes
• 4-storey woodframe
• 1,600-1,800 sq ft open layouts
• close to Kitsilano Community Centre & Farmers Market
• walking distance to cafes, restaurants, schools, shops
• 5 min. from Kits Beach & Granville Island
• near future Broadway Skytrain extension

Designed for the Family
Domus Homes introduces Zeo Kits, a collection of five contemporary townhomes currently under construction on West Broadway between Larch and Balsam streets in Vancouver’s vibrant Kitsilano neighbourhood. Surrounded by schools, parks, supermarkets, shops, and cafes, these 3- and 4-bedroom homes are perfect for homeowners who plan to grow their family. As construction continues throughout the summer, you’ll see Zeo Kits come to life with its classic brick exterior, modern metal panels, and bold red front doors.

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Pricing for Zeo Kits
Zeo Kits is selling now! Contact me today to discuss availability, plans, and prices for this exclusive home ownership opportunity.

Floor Plans for Zeo Kits
Zeo Kits features open kitchen and dining layouts on the main floor, great media rooms, ample storage, spacious bedrooms upstairs, and spectacular master retreats.

Zeo Kits Interiors
Envisioned by Jen Gannon of Gannon Ross Designs, Zeo Kits townhomes exhibit quality and interior excellence. Hardwood throughout the main floor creates a seamless space perfect for relaxing, spending time with family, or entertaining. Prepare dinner in a kitchen oasis, featuring calcatta-inspired marble back splashes, thick quartz countertops, and beautiful oak upper cabinets. Natural sunlight bathes the airy interiors through large skylights built into every home.

Amenities at Zeo Kits
Every 3- and 4-bedroom townhome will have its own gated, paved patio surrounded by lush landscaping and trees.

Parking and Storage
Each residence includes a parking space and ample storage.

Maintenance Fees at Zeo Kits
$403 per month.

Developer Team for Zeo Kits
Domus Homes is a nimble team of life-long Vancouverites who design and build homes for the way you live. They believe the future is high-quality urbanism in compact, walkable nodes well-served by transit, commercial, and community services. This drives their location selection process. Many Domus projects build on existing heritage structures. Buildings of the past continue to teach us much with regard to human scale and texture. Celebrating our heritage, while interpreting these lessons in modern styles and techniques, can produce truly timeless contributions to the community.

Domus Homes has collaborated with Eric Stine Architect and Gannon Ross Designs to create Zeo Kits. Eric Stine is a small Vancouver practice with a keen focus on custom single family homes. Gannon Ross Designs have been creating inspired designs for over 15 years. As specialists in residential and multi-family residential design, Gannon Ross work with residential clients and developers to create amazing interiors and spaces.

Expected Completion for Zeo Kits
Fall 2017.

Are you interested in learning more about other homes in Kitsilano, Fairview, or Kerrisdale?

Check out these great Kitsilano Presales!

The post Zeo Kits Townhomes – Prices, Plans, Availability appeared first on Mike Stewart.

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Current Mortgage Rates for Wednesday, August 16, 2017

Mortgage rates are flat right now as there’s not much happening in the markets. There really wasn’t any significant economic data out this morning, but at 2:00pm we will get the minutes from the most recent Federal Reserve’s Federal Open Market Committee meeting. Depending on what kind of tone the minutes take, we could see rates adjust this afternoon.

Market Outlook 8.14.17 from Total Mortgage on Vimeo.

Where are mortgage rates going?        

Rates flat – FOMC minutes on the horizon   

Mortgage rates are flat right now as we move toward the midpoint of the trading week. Rates did move a little higher yesterday due to some easing tension between North Korea and the United States, as well as the release of some positive economic data here at home.

There is another chance for rates to change this afternoon when the Fed releases their minutes from the FOMC meeting a few ago. Financial market participants always scour every syllable for hidden clues about happenings at the Fed.

Click here to get today’s latest mortgage rates (Aug. 16, 2017).    

With the chances of another rate hike in 2017 continuing to sit around 50% (49.3% chance according to the CME Group’s Fed Fund futures right now) there is the potential for the subtlest of signals to sway the crowd one way or another.

In reality, though, it’s unlikely that we will get a very hawkish statement from the Fed with regards to rate hikes. However, there is certainly the possibility that we will get further details about the unwinding of the Fed’s balance sheet.

Any news about the timing (which officials have still touted as sometime this year) would likely cause investors to sell off government bonds, pushing up yields.

Mortgage rates are closely tied to the yield on the 10-year Treasury note (mortgage backed securities compete for similar investors) so we’d likely see upward pressure on rates. Of course, the FOMC minutes could be a non-event, in which case we’ll probably head into tomorrow right where we are now.

The point is that it’s worth keeping an eye on the market after the minutes are released at 2:00pm today.

[contentbox id=”8″]

What does this mean for me?      

Find out what your rate would be

Mortgage rates continue to hang around levels that are on the lower end of the spectrum for 2017. If you’ve been thinking about a purchase or refinance, it definitely makes sense to take a few minutes and find out what your rate would be.

To get the most accurate idea of what kind of rate we could offer, you should fill out our short form and get a personalized rate quote. Or, if you’d rather talk to someone, you can always call one of our experienced mortgage specialists.

They can walk you through the same process, clarifying any questions you may have, and let you know what your custom rate quote is.

Today’s economic data:     

Housing Starts

Housing starts for July came in at an annualized rate of 1.155 M. That’s lower than the 1.225 M that was expected. Permits also declined, but now by as much, down to 1.223 M.

EIA Petroleum Status

• Crude oil: -8.9 M barrels
• Gasoline: 0.0 M barrels
• Distillates: 0.7 M barrels

FOMC Minutes

• Minutes from the Fed’s July meeting will be released at 2:00pm.

Notable events this week:    

Monday:         

• Nothing

Tuesday:   

• Retail Sales
• Empire State Mfg Survey
• Import and Export Prices
• Business Inventories
• Housing Market Index

Wednesday:   

• Housing Starts
• EIA Petroleum Status
• FOMC Minutes

Thursday:  

• Jobless Claims
• Philly Fed Business Outlook
• Industrial Production

Friday:    

• Consumer Sentiment

Rates are still near 2017 lows. Contact us today to see if we can save you money on your home payments.    

from Total Mortgage Underwritings Blog http://ift.tt/2vDDJiI