For the bond market St Paddy’s day was a 2 week celebration of “green” (as in the color of price gains or falling yields on trading terminals) beginning on March 4th. Eight
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Downloads AOL App Discover AOL MyBenefits ID Theft Protection Travel Tips Games Favorites Maps PC Checkup Secure PC Live Help Share Lori Loughlin has been erased from the Hallmark series “When Calls
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It’s no secret that we are major fans of Anthropologie. From their statement-making textured handbags to their epic celeb collaborations, Anthro appeals to a wide audience and age range — and their latest
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Even though the January Census Bureau report on new home sales published on Thursday wasn’t all that encouraging for the spring market, the Mortgage Bankers Association (MBA) is predicting more upbeat news
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American Idol has also been a family-oriented show, and this Sunday, it showcased a special, different sort of American family story – when 19-year-old Elizabeth Gaba showed up for her audition with
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The Federal Housing Administration is returning to primer reviews of higher-risk loans it insures given it’s anticipating that a flourishing share have reduce credit scores, aloft debt-to-income ratios, or both.
Effective for box numbers reserved Monday, a FHA is creation a change to a Technology Open to Approved Lenders Mortgage Scorecard complement that reinstates primer underwriting mandate for certain mortgages with credit scores next 620 and DTIs above 43%.
“FHA will delicately guard a impact of this change and is scheming to exercise additional changes to say a improved change of handling risk and fulfilling a mission,” a group pronounced in an email to single-family debt lenders and stakeholders.
This will symbol a third time a FHA has altered this requirement in new years. The group creatively introduced a primer underwriting requirement in 2013, though private it in Aug 2016.
Certain FHA loan credit indicators are weaker than they have been in several years.
The commission of normal single-family FHA loans with DTIs above 50% recently rose to a high that hasn’t been seen given mercantile year 2000. During a mercantile year that finished Sept. 30, 2018, roughly 25% of a normal single-family mortgages a FHA insured had DTIs above 50%. The commission of high-DTI FHA loans has continued to arise in 2019. More than 28% of a FHA loans permitted in Jan 2019 had DTIs above 50%.
Also, a normal FHA credit score, during 670, is a lowest it has been given 2008. More than 28% of a normal single-family loans a FHA permitted during a initial entertain of a stream mercantile year have credit scores next 640, and some-more than 13% of all normal single-family mortgages a FHA permitted during a same time duration had credit scores next 620.
Additionally, there is an augmenting thoroughness of loans that have both credit scores next 640 and DTIs above 50%, according to a FHA.
DTIs above 50% are deliberate intensely high. A DTI of 43% or reduce is indispensable to accommodate a Qualified Mortgage clarification that gives loans a protected bay from ability-to-repay requirements.
Government and government-sponsored craving loans have exemptions from have carrying to accommodate QM mandate that have been subject to debate.
Given a decrease in loan prospects during a past integrate of years and a vigour on lenders to move in mortgages, there has been regard that risk layering could increase.
Multiple exceptions to customary debt underwriting contributed to a 2007 housing crash.
For the bond market St Paddy’s day was a 2 week celebration of “green” (as in the color of price gains or falling yields on trading terminals) beginning on March 4th. Eight of those 10 business days saw yields move lower with last Friday marking the 2nd lowest closing levels in well over a year.
It’s only natural for bonds to need a bit of a break after all that partying. They joined plenty of other revelers who may have had too much green recently in taking the day off today. Granted, there wasn’t any sort of official market closure, but it would have been hard to notice if there was! Volume was in line with the lowest levels of the year for a full business day and volatility was nowhere to be found.
The absence of volatility is a victory of sorts, considering yields are so close to long term lows and that the stock market broke above a key ceiling to make solid gains on the day.
Participation, volume, and volatility are all expected to increase into (and especially after) Wednesday’s FOMC Announcement.
Lori Loughlin has been erased from the Hallmark series “When Calls the Heart.”
The western drama series featured Loughlin in a big part as the town mayor.
The show is a huge hit for the channel, with millions of devoted fans who call themselves “Hearties.” When Hallmark announced last week they were severing ties with Loughlin and halting all production of any shows and movies she was a part of, those fans were devastated.
The Hearties took to Twitter, bombarding the producers to keep the show on the air and it worked.
“‘When Calls the Heart’ has always been bigger than the sum of its parts, and it has not been canceled,” the producers said in a statement. “With the full support of the network, we have gone on a creative hiatus to do some retooling on the remaining season 6 episodes.”
The producers also posted a series of images on Instagram over the weekend assuring fans the show would go on.
The episodes have already been filmed and edited, and now the plan is to cut Loughlin out.
On Saturday, North Carolina Central beat Norfolk State in the MEAC championship to earn a third straight NCAA tournament bid.
After the win, head coach LeVelle Moton immediately recognized his team’s likely fate as a No. 16 seed and had one request for the selection committee — anybody but Zion.
N.C. Central coach: Anybody but Zion
“Some coaches will say ‘We’ll take on anyone. We’ll be ready,’” Moton told reporters. “But I don’t want any part of playing Duke. Us playing against Zion [Williamson] would be like my 6-year-old son playing against me.”
The Eagles’ strength is in their frontcourt. Center Raasean Davis — 6-8 and 240 pounds — leads the team with 14.6 points, 8.9 rebounds and 1.2 blocks per game.
But he’s never seen anything close to the likes of Williamson in the MEAC. ACC opponents have never seen anything like Williamson.
A stacked North Carolina frontcourt gave up 50 points in the paint in Friday’s ACC tournament loss to Duke, the most the Tar Heels have allowed in the post in eight years, according to ESPN.
So, yeah. Odds are Zion will likely look like an adult playing against 6-year-olds whether Duke faces N.C. Central or Norfolk State this week.
A teenager accused of injuring her 16-year-old friend by pushing her off a 60-foot bridge in southwestern Washington in August pleaded guilty Monday to misdemeanor reckless endangerment.
Taylor Smith appeared in Clark County District Court, where a state prosecutor recommended no jail time. She will be sentenced on March 27.
Smith pushed Jordan Holgerson off the Moulton Falls Regional Park bridge northeast of Vancouver on Aug. 7. Holgerson suffered six broken ribs and punctured lungs.
She pleaded not guilty in December. Last month, Smith was offered a plea deal, the details of which were not shared in court.
The 10-second video clip of the incident captured on a cellphone went viral.
Holgerson initially planned to jump off the bridge into a river about 60 feet below, but has said she changed her mind.
She said in a recent interview on NBC’s “Today” that while she was looking forward to Smith being sentenced, she was uncertain what punishment Smith should face.
“Some days, I kind of want her to be put in jail,” Holgerson said. “And some days, I think that might be too harsh.”
In a video posted to YouTube on Saturday, Jenner hides in the backseat as Dobrik gives rides to unsuspecting fans, who are quizzed about their Kardashian-Jenner knowledge, like which sister is their favorite and what they know about Jenner’s successful cosmetics brand.
One fan reveals his favorite Kardashian sibling is Khloe only to find out Jenner is sitting behind him. “I was just about to say you were my favorite,” he says to uproarious laughter from Dobrik and Jenner.
Later, a young female fan freaks out when Dobrik tells her to congratulate Jenner on her success, only to discover the mogul is sitting behind her. “Bro, you f**king kidding me,” she exclaims as she covers her shocked face. “What the f**k!”
The video continues this way until one fan fumbles over his Jenner knowledge, much to Dobrik’s confusion. “Are we talking about the right Kylie?” he asks his passenger, who clarifies he’s indeed a fan of Jenner’s.
When she finally pops up behind him, he tells Jenner she’s “f**king fire” and receives a hug from the superstar.
Fans can’t seem to get enough of the surprises, with the video racking up over 6.3 million views and counting. Watch the full clip below.
Choosing one person who RT’s to be next videos shoutout!
The playful video comes amid drama surrounding Jenner, who has been slow to rebuild her friendship with Jordyn Woods after it was revealed the Kardashian pal hooked up with Khloe Kardashian’s now-ex-boyfriend, Tristan Thompson. The revelation has caused a rift between the two longtime friends.
A source previously told ET that the two friends “have communicated, but not much,” with Jenner “still figuring out where [Woods] fits into her life.” For more on that story, check out our full coverage below.
Cities continue to tighten their grip around Airbnb and other short-term rental sights, and Santa Monica, California, is no different.
In the latest loss, Airbnb and Expedia Group’s HomeAway lost their case in the Ninth Circuit Court of Appeals to the city of Santa Monica. This means the previous ruling still stands that the short-term rental companies are liable for illicit rentals on their sites.
In Santa Monica, short-term rentals must be licensed by the city. If they aren’t, the companies will now be responsible for taking them off the site.
“This critical local law prevents residences in our community from being converted into de facto hotels – it protects affordable housing and it helps residents stay in their homes,” Santa Monica City Attorney Lane Dilg said in a statement.
And while the short-term rental sites tried to argue this regulation would make it impossible for the sites to operate, the three panel judges disagreed.
“Even assuming that the ordinance would lead the platforms to voluntarily remove some advertisements for lawful rentals, there would not be a severe limitation on the public’s access to lawful advertisements, especially considering the existence of alternative channels like Craigslist,” the judges said in the ruling.
Santa Monica’s regulations are among the strictest in the nation. They prohibit rentals of whole homes to travelers for less than 30 days. Vacation-rental hosts in the city can only rent rooms to tourists and must be present throughout the stay.
As for the city, it is pleased with the ruling and called it a win for housing and affordability.
“We are thrilled to have confirmation from the Ninth Circuit that our balanced approach to home sharing is working at a time when housing and affordability continue to challenge the region,” Mayor Gleam Davis said. “This is a big win for Santa Monica residents and our residential neighborhoods.”
But Santa Monica isn’t the only city Airbnb is fighting. New York City is upping the ante in its fight against Airbnb, as the two sides battle it out in court and in the court of public opinion.
New York City Mayor Bill de Blasio recently announced that the city is issuing a subpoena to Airbnb, demanding that the short-term rental site turn over the listing data that’s at the center of a legal battle between the two sides.
Last year, New York passed legislation designed to combat the rise of short-term rentals in the city. The law prevents landlords and tenants from illegally renting out apartments for a few days at a time to tourists.
And Massachusetts recently passed a law that extended the state’s current 5.7% hotel tax to most short-term rentals, along with giving municipalities the option of tacking an additional 6% onto the tax; 9% if an owner rents out two or more units in the same community.
But despite all of these battles, the company seems to be remaining optimistic.
“Airbnb has made great strides around the world, working with dozens of cities to develop more than 500 partnerships including fair, reasonable regulations, tax collection agreements, and data sharing that balance the needs of communities, allow hosts to share their homes in order to pay the bills and provides guests the opportunity to affordably visit places like the California coast,” the company said in a statement.
Single-family rental purchases inched forward in the first quarter of 2019, according to ATTOM Data Solutions‘ latest Single-Family Rental Market report.
The Single-Family Rental Market report analyzes single-family rental returns in 432 U.S. counties each with a population of at least 100,000.
According to the analysis, the average annual gross rental among the 432 counties was 8.8% for 2019, rising from an average of 8.7% in the prior year.
ATTOM Data Solutions Chief Product Officer Todd Teta said buying single-family homes to rent them out is a better deal for investors in 2019 than it was during the same time in 2018.
“Last year, at this time, investors were seeing returns drop in three-quarters of the counties that were analyzed,” Teta continued. “So far this year, those margins are up in six out of every 10 counties analyzed.”
However, despite the generally rosier picture, Teta notes profits vary widely and investing in the single-family home rental market is not always a great move.
In fact, according to Teta, the typical bottom-line gain from county to county this year has ranged from as little as 3% to as high as 29%.
Notably, the report indicates the housing markets that posted the highest rental returns included Baltimore City, Maryland, up 24.5%; Bibb County, Georgia, up 21.9%; Cumberland, New Jersey, up 21.2%; Winnebago, Illinois, up 17.1%; and Wayne County, Michigan, also up 17.1%.
However, the housing markets that posted the lowest rental returns included San Mateo County, California, up 3.4%; San Francisco County, California, up 3.7%; Marin County, California, up 4%; Santa Clara, California, up 4.2%; and Kings County, New York, up 4.3%.
NOTE: ATTOM Data Solutions calculated rental returns by utilizing annual gross rental yields provided by the U.S. Department of Housing and Urban Development.
When it comes to the health of the economy, the housing market is the canary in the coal mine, providing clear and early clues of pending trouble. And that’s why analysts track its performance intently, looking at a multitude of indicators that might signal the looming recession some are forecasting.
Now, one critical clue from the housing market has emerged to suggest economic growth is likely to backslide, and that is a steady decline in single-family authorizations.
In essence: Construction activity appears to be slowing.
Single-family housing authorizations – what some call a key predictor of economic recessions – represent building permits requesting permission to commence construction. In contrast, housing starts signal that construction has already begun.
According to the latest data released by BuildFax, single-family housing authorizations fell for the third consecutive month in February, declining 4.24% from the previous month. This also represents a 5.75% decline year over year.
The data left BuildFax to conclude that, “without relief from this steady decline in single-family housing authorizations, an economic slowdown is likely forthcoming.”
Existing housing maintenance and remodeling volumes are also down, continuing a four-month decline. Maintenance volume was down 5.53% year over year, while remodeling volume was down 10.07%.
But at the same time, spend for both maintenance and remodeling increased, which BuildFax attributed to recent spikes in construction labor costs.
Interestingly, some cities are defying national trends, posting increases in new construction and maintenance in February.
Dallas, New York City, Chicago and Washington, D.C., saw activity in new construction and maintenance rise.
BuildFax said Chicago saw the greatest increases, with new construction up 60.15% and maintenance up 19.51%, which the report said could be a result of the city’s strategic five-year housing plan to solve affordability problems.
“It’s yet to be seen whether housing activity in these cities will eventually slow as it has on a national level or if these will be key metros to watch as the U.S. potentially heads towards an economic slowdown,” BuildFax wrote.
BuildFax CEO Holly Tachovsky said the performance of these indicators over the next several months will be key to determining the overall impact on the economy.
“There have been persistent declines across key housing indicators for four consecutive months. However, we anticipate some economic relief as we head into 2019’s spring home buying season,” Tachovsky said.
“Mortgage rates have reached recent lows leading to increased potential for home sales, which is oftentimes followed by a surge in remodeling activity,” she continued. “The performance of single-family housing authorizations, maintenance and remodeling activity through this next season will shed light on whether declines in the housing market will spread to the broader economy.”
Here is a map of new construction and maintenance activity in the 10 largest metros:
