MBS RECAP: Volatility Inside a Range; Still Waiting For "Something"

There are several “somethings” that could prove inspirational for bond markets at the moment.  The biggest among those continues to be any major shift in the stock market.  Specifically, if stocks move More »

Ncuti Gatwa on what parents can learn from Netflix’s ‘Sex Education’

“Sex Education,” Netflix’s buzzy new comedy about British high school students navigating the complexities of love and lust (okay, mostly lust), wasn’t written for faint-of-heart parents. But they’re watching it anyway, joining the rapidly-growing number of teens More »

Jay Leno clears the air about David Letterman and Conan O’Brien drama

Jay Leno is opening up about his supposed beef with fellow comedians. The 68-year-old TV host was recently a guest on Watch What Happens Live with Andy Cohen, where he got candid about his More »

Mortgage Rates Dodging Some Risk For Now

Mortgage rates were higher heading into the end of the previous week.  To make matters worse, as of Friday afternoon, it didn’t look like the average lender had fully accounted for the losses in More »

Search for missing Cardiff City’s Emiliano Sala resumes in English Channel

LONDON, Jan 23 (Reuters) – The search for Cardiff City’s new soccer star, Emiliano Sala, resumed on Wednesday 36 hours after the light aircraft he was flying on disappeared in the English More »

MBS RECAP: Volatility Inside a Range; Still Waiting For "Something"

There are several “somethings” that could prove inspirational for bond markets at the moment.  The biggest among those continues to be any major shift in the stock market.  Specifically, if stocks move to threaten recent lows or challenge Oct/Nov highs, bonds would almost certainly be forced to follow. 

If stocks remain indecisive, bonds could take cues from other sources.  The most immediate candidate is “European markets” given that the ECB announcement is coming up tomorrow morning.  Beyond that, any major updates on the shutdown situation or China/US trade talks have already proven themselves capable of pushing bonds around.  

Europe helped US bond markets gain ground heading into the afternoon today (EU market close).  Stocks were even getting in on the action, but everything reversed course after European markets closed.  Stocks and bonds retraced about half of the move lower from the 9am highs.  This left 10yr yields up 1.1bps at the 3pm close at 2.752.  Fannie 4.0 MBS were 2/32nds (0.06) lower at the same time at 101-22 (101.68).

Article source: http://www.mortgagenewsdaily.com/mortgage_rates/blog/895983.aspx

Ncuti Gatwa on what parents can learn from Netflix’s ‘Sex Education’

“Sex Education,” Netflix’s buzzy new comedy about British high school students navigating the complexities of love and lust (okay, mostly lust), wasn’t written for faint-of-heart parents.

But they’re watching it anyway, joining the rapidly-growing number of teens and young adults all binging the show’s first season, which dropped on Jan. 11 to a near-immediate tsunami of glowing reactions.

“I’m not quite sure what has happened to me in the past week,” Ncuti Gatwa, who plays fan-favorite Eric, told AOL, adding that when the show began streaming, he was in New York doing interviews with co-stars Asa Butterfield and Emma Mackey. Hours later, “before we even got back to the U.K., people had already finished the entire series.”

While the full-frontal nudity and frank discussions of oral sex, strap-on penises and comic book erotica will certainly make parents of teens wince, there are important lessons to be learned from the show, which has quickly staked its claim as one of — if not the — most raw, honest, and reflective teen stories TV has offered in recent years.

“What your child wants and what you know is right for then can be very conflicting at times,” said Gatwa, whose character Eric has a strained relationship with his protective, straight-laced father. “For any parent, all they want is for their child to be safe and cared for. Unfortunately, when you’re a parent and you completely love your child, it can make you act a bit crazy.”

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Fraught parent-child relationships are a frequent theme of the show: Doting mom Jean (Gillian Anderson) has major trouble sticking to personal boundaries with her 16-year-old kid; one character’s absent mom is a drug addict; another’s hyper-involved mom micro-manages her athlete child’s life.

Even though parents have gone through (and survived!) adolescence themselves, they should resist the urge to use their own hindsight to lecture their teens.

“As a parent, you’re not in your child’s world anymore. High school, as much as it’s ‘not the real world,’ is the real world for your child,” Gatwa, 26, said. “Just listen. Listen when they’re trying to communicate. Try to take a bit of pride out of yourself and listen to whatever anxieties are going on.”

Season 1 of “Sex Education” is streaming on Netflix now.

Article source: https://www.aol.com/article/entertainment/2019/01/23/ncuti-gatwa-on-what-parents-can-learn-from-netflixs-sex-education/23651112/

This classic Valentine’s Day candy will be missing from store shelves this year

One of America’s favorite (or divisive) candies for Valentine’s Day may be in short supply this year.

The makers of classic Sweethearts, known for the cute messages imprinted on each candy heart like “Be Mine,” “Cutie Pie” and “Kiss Me,” say the sweet treat won’t be returning to store shelves until Valentine’s season in 2020.

Photo: Getty Images

Spangler Candy Company, the makers of Dum Dums lollipops and Circus peanuts, purchased NECCO Wafers — and its brands like Sweethearts — in 2018 after the company went out of business and the original factory closed.

In a press release on the Spangler Company’s official website, Spangler Chairman and CEO Kirk Vashaw said, “We look forward to announcing the Sweethearts relaunch for the 2020 Valentine season.” So basically that means there will be no new packs of Sweethearts for valentines to hand out in 2019. Anything you find online or on store shelves was made prior to the factory closing in July 2018. A different representative from Spangler added that while they are “aiming” to get the candies out by next year, it might not be a sure thing to the company is advising fans to check out its social media channels.

What’s a person in love to do? After all, according to CandyStore.com, Sweethearts were the most popular Valentine’s candy in the U.S. in 2018, and 8 billion were made annually in years prior to satisfy that demand.

Well, there are plenty of the brand’s conversation hearts for sale on Amazon and Ebay, though CandyStore.com says these will be leftovers from previous years. While this type of hard candy may be able to last for up to a year, its quality might be compromised. If you do get a pack and it’s sticky or really grainy, candy experts say it’s best to just toss it since it won’t be such a sweet gift if it makes your lover sick.

Consumers may also opt for an alternate like Jelly Belly’s Conversation Beans or Cupid Messages MM’s to send a loved one a romantic note. Brach’s also makes Conversation Hearts and Wonka’s SweeTarts Hearts contain embossed messages, too.

But there’s nothing quite like classic Sweethearts. According to Spangler, Sweethearts have been around since the 1860s. Over the years, they’ve even changed a little with the times, to include messages like “Fax Me,” and now “Tweet Me.”

“Many people have memories of sorting through their box of Sweethearts to find just the right message to share,” said Vashaw in the press release.

Here’s hoping the conversation hearts make a sweet comeback in 2020.

For a list of Valentine’s Day candies you’ll find exclusively at Target, check out the gallery below!

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Article source: https://www.aol.com/article/lifestyle/2019/01/23/this-classic-valentines-day-candy-will-be-missing-from-store-shelves-this-year/23651116/

Uma Thurman and her lookalike daughter Maya Hawke are style goals at Paris Fashion Week

Maya Hawke takes after her famous mom!

On Tuesday, the 20-year-old actress was spotted at the Giorgio Armani Prive Paris Fashion Week show with her mom, Uma Thurman. Thurman shares Hawke with her ex-husband, Ethan Hawke, to whom she was married from 1998 to 2005. They also have a 17-year-old son named Levon.

At the show, Thurman wore an all-black look with velvet and sparkle details, while Hawke opted for baby blue silk pants, a matching coat, white shirt and a black tie.

See photos from their outing in the gallery below:

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After posing outside the show, Thurman and Hawke took their place in the front row, where they sat beside Amber Heard and Celine Dion.

Prior to the fashion show, the pair was spotted dressed-down on the streets of Paris. Wearing light-wash, baggy jeans, a black coat and a purple scarf, Thurman wore her hair up as she stood next to Hawke, who sported a plaid jacket, orange scarf and light sweater.

The Paris getaway comes in the midst of a career breakout for the starlet, who recently starred in PBS’ Little Women adaptation and was cast in both Stranger Things‘ upcoming season and Quentin Tarantino’s new movieOnce Upon a Time in Hollywood.

Last May, ET’s Ashley Crossan caught up with her dad, Ethan Hawke, and he gushed about his daughter’s recent career success.

“I had no doubt that she was gonna get parts. It wasn’t a giant shock to me,” he said. “I’m finding myself in a totally new experience to have a grown child. She’s 19. She’s doing her own thing. She’s been preparing her whole life to be an artist.”

“I’m not surprised. I’ve thought that she was extremely talented since she was 6, and it’s fun to see the world through her eyes, and see my own profession through somebody who’s just starting,” he continued. “She’s an extremely sincere, passionate, young woman and she’s at the beginning of her life. It’s pretty thrilling.”


Quentin Tarantino Casts Uma Thurman’s Daughter Maya Hawke For His Next Film

Ethan Hawke Adorably Praises ‘Extremely Talented’ Daughter Maya (Exclusive)

Uma Thurman and Ethan Hawke’s Daughter Maya Says Being a Celebrity ‘Is Not Particularly Interesting’ to Her


Article source: https://www.aol.com/article/entertainment/2019/01/23/uma-thurman-and-her-lookalike-daughter-maya-hawke-are-style-goals-at-paris-fashion-week/23651153/

Pelosi Sends Letter to President Trump on the State of the Union Address


January 23, 2019

Washington, D.C. – Speaker Nancy Pelosi sent the following letter today to President Trump regarding the State of the Union address.  Throughout the shutdown, now 33 days in, Democrats have repeatedly voted to re-open government so that federal workers can pay their bills, government services will be available to the American people, and the nation’s economy will not be damaged further. 

In the letter, the Speaker wrote “I am writing to inform you that the House of Representatives will not consider a concurrent resolution authorizing the President’s State of the Union address in the House Chamber until government has opened.”

“Again, I look forward to welcoming you to the House on a mutually agreeable date for this address when government has been opened,” Speaker Pelosi continued.

Below is the text of the letter to the President:

* * *

January 23, 2019

The President

The White House

1600 Pennsylvania Avenue, Northwest

Washington, D.C.  20500

Dear Mr. President:

When I extended an invitation on January 3rd for you to deliver the State of the Union address, it was on the mutually agreed upon date, January 29th.  At that time, there was no thought that the government would still be shut down.

In my further correspondence of January 16th, I said we should work together to find a mutually agreeable date when government has re-opened and I hope that we can still do that.

I am writing to inform you that the House of Representatives will not consider a concurrent resolution authorizing the President’s State of the Union address in the House Chamber until government has opened.

Again, I look forward to welcoming you to the House on a mutually agreeable date for this address when government has been opened.



Speaker of the House

Article source: https://www.speaker.gov/newsroom/12319-3/

Pelosi Announces Appointments to Smithsonian Board of Regents


January 23, 2019

Washington, D.C. – Speaker Nancy Pelosi today announced the appointment of Congresswoman Lucille Roybal-Allard of California and the reappointment of Congresswoman Doris Matsui of California to serve on the governing Board of Regents of the Smithsonian Institution.

“Since 1846, the Smithsonian Institution has played a critical role in our nation’s social and cultural life, preserving our unique and beautiful history, and inspiring generations of Americans to understand and explore our heritage,” said Speaker Nancy Pelosi.  “The Smithsonian Board of Regents is essential to guiding the future of this special institution and ensuring it remains a source of creativity, innovation and scientific discovery for Americans and visitors from around the world.”

“As Speaker of the House, it is an honor to appoint two outstanding champions to the Board of Regents: Congresswoman Doris Matsui and Congresswoman Lucille Roybal-Allard,” continued Speaker Pelosi.  “As a returning Board member, Congresswoman Matsui’s proven leadership will be vital to the Smithsonian’s work to safeguard and share our national heritage with all.  Congresswoman Roybal-Allard has been a tireless public servant and a passionate supporter of the Smithsonian’s mission, and her leadership will be a great asset in its work to advance  ‘the increase and diffusion of knowledge.’ The strong voices and diverse perspectives of these Regents will be essential to ensure the Smithsonian and Congress can work together to preserve this national treasure and strengthen the relationship between this institution and the American people.”


Article source: https://www.speaker.gov/newsroom/12319-4/

Pelosi Remarks at U.S. Conference of Mayors Winter Meeting Opening Plenary

Washington, D.C. – Speaker Nancy Pelosi attended the U.S. Conference of Mayors winter meeting opening plenary.  Below are the Speaker’s remarks:

Speaker Pelosi.  Good afternoon, everyone.  Good afternoon.  Thank you, Mayor [Stephen K.] Benjamin, for your warm introduction.  And thank you all for your warm welcome.  And Mr. Mayor Benjamin, thank you for your great service to the city of Columbia and to the country.

Let us all salute the strong leadership of the Mayor – of all of the mayors.  Congratulations for all you do and I want to make my personal congratulations to Tom Cochran who has been such a resource to this organization, for so long.  He was here when my brother was mayor, a long time ago, and he is still here.  Thank you, Tom Cochran.  That’s an applause line.  I’ll let you know.


It is a personal, as well as an official honor to bring greetings to America’s mayors on behalf of the U.S. Congress.  It is a joy to welcome my Mayor, Mayor London Breed, to Washington, and again, as a daughter and sister of a Mayor – as Mayor Benjamin indicated –  I have a front row seat to the extraordinary work that you do for our country, and for our democracy, for our people.  Cities are the engines of human innovation in our nation.  Your success is the foundation of America’s success.

You’ve come at a time when the government is shut down.  Sadly, with this shutdown, the White House is not showing respect for the American people.  The senseless and prolonged shutdown is inflicting chaos across the country, and certainly in Washington, D.C., on public safety, on civil aviation, on housing, on health and financial security.  Every other dimension of family’s lives.

I know, as a daughter and sister of a mayor, that there is no buffer between a mayor and his or her constituents.  You know the stories.  You feel the pain.  You feel it.  You know the shutdown must end, and it must end now.

On day one, and since, the Democratic Congress has acted to end the chaos and restore certainty to people’s lives.  This afternoon, and that’s why I was running a few minutes late, the House is passing a package of bipartisan legislation, agreed to by the House and Senate negotiators to re-open government.  To re-open government –


With strong border security initiatives.  This will be our tenth vote.  Let’s hear it for border security.


This will be our tenth vote to re-open government.  Mind you, just, just remember this, in our earlier votes, we, and from the first day that we were sworn in, on January 3rd, on that day, we sent the Senate legislation that they had already passed, 92-6.  Something like that.  Some of it unanimously in committee.  We said, ‘Take yes for an answer. We’re sending you the Republican Senate agenda to the Republican Senate.’  And they said no.

Today, we are sending them the same packages except, because some of our House Members said, ‘Why should we vote’ – the Republicans in the House said, ‘Why should we vote with the Republicans in the Senate, with what the Senate did?’  So today, taking their suggestion, we are sending the House Senate negotiated, bipartisan, bicameral legislation for them to consider.  We will see how the Republicans in the House vote on their own suggestion and see how the Republicans in the Senate vote on their own legislation.

But it is really unfortunate, not only is the President holding the American people and America’s workers hostage, he is holding the Republicans in the Congress of the United States hostage.  Not all of them.  Some of them understand what it means to the lives of the American people.  We hope that more of them will.

Congressional Democrats support smart, effective border security.  But we do not support the President holding the health, safety and paychecks of the American people hostage, again, to a campaign applause line.

There is serious and justified concern that this President would shut down the government any time he does not get his way legislatively.  That is why we must hold the line on this shutdown in government.  That is one of the reasons Democrats and Republicans, and I know this is a bipartisan group, beautifully so.  To the Republicans in the crowd, I say take back your party.  The Grand Old Party.  America needs a strong Republican Party.  Not a rubber stamp.

Democrats and Republicans alike must urge their Senators to support the bipartisan legislation to re-open government that will be on the Floor tomorrow.  Tomorrow.  We must re-open government now, to restore, respect our workers, to protect our borders and to meet the needs of the American people.  People have to understand, there is a purpose to the governance.  You know it better than anyone, the public role in meeting the needs of people, and that people’s needs are not being met, when these people are not being employed, working and getting paid for their work.

The American people elected a House majority that would – that’s an applause line. Not for everybody, maybe.


That will deliver results For The People, opening up new opportunities and improving their lives.  We have the opportunity, and therefore, the responsibility to get to work: redeeming the promise of the American dream for every family and advancing progress for every community.  We must build, build, build.  Build our human infrastructure.  Invest in our physical infrastructure.  And build our democracy.

Today, too many hard-working families are asking, in this time of innovation and globalization, they’re asking if they have a place in the economy of tomorrow.  You hear that all the time.  We all, Mayors, Members of Congress alike, must answer them, and say, ‘We will have an economy that works for you.’  For every person in our country.

We must build an economy that gives all Americans the tools they need to succeed in the 21st Century.  Public education.  Workforce development.  Good-paying jobs.  And secure pensions.

Just as we must invest in human infrastructure, for our nation, we must invest in our physical infrastructure.  The House is committed to bold, transformative action to rebuild America, with green, modern and job-creating infrastructure, from sea to shining sea.


May I acknowledge another California Mayor, Mayor Garcetti, for his leadership in building the infrastructure in Los Angeles in a very major way.

Investing in our crumbling roads, bridges and transit systems and modernizing our ports and airports.  Rebuilding our children’s schools to provide safe, modern learning experiments.  We say to kids, ‘Education is important, you must study, you must learn.’ And yet, they get a different message, we send them to a school that is not up to par for them.

Mayor Palmer and I were in Trenton a while back, watching kids how to build green infrastructure in the schools there, so some of you have taken the lead, in a very important way, and I have been here when you’ve received your awards for infrastructure.  I’ve been here when you’ve received your awards for the arts.  And I’ll get back to that, the arts, in a moment.

Bringing broadband internet to every corner of the country and fixing our broken water system so that every family has access to clean, safe drinking water.  Some of our water systems are over 100 years old.  They are made of brick and wood.  Brick and wood.

Building the sustainable resilient infrastructure of the future in a way that protects clean air, clean water, creates good-paying jobs, and combats the climate crisis.

We must embrace the three I’s.  Your theme.  Building our infrastructure in a way that is innovative and inclusive. Congratulations on your leadership in all three regards.

We know that you are ready to stop talking and start digging.  We want to see dirt flying is what we want to see when we allocate these resources.  And I’m optimistic.  Because one subject that I have some common ground with the President on is the subject of infrastructure.  Maybe 80 percent of the conversations I’ve had with him since his election have been about infrastructure.

We have to find our common ground.  We’re ready.  We are ready.  And hopefully he is, too. So that we can get moving on that.  To create good-paying jobs.  And we know how important it is.  Improve the quality of life.  Promote commerce.  It is so important.  Clean air, clean water, from all of that, those investments.

We applaud America’s mayors for stepping up to deliver quality infrastructure for your citizens.  The House will do our part to support you and we will do so in a way that does not shift the burden on to your budgets.

Last year, they had an infrastructure plan that went from 80 percent federal, 20 percent local to 20 percent federal, 80 percent local.  What?  What?  Are you kidding?  Must have been.  But that’s – we will not make – we want it to happen, and we don’t want it to happen in a way that is not predictable, affordable, and again, for the return.

When you’re doing infrastructure, I talked about this with Jerry Brown this morning, he was in my office about what happened in California with the tax initiative that was on the ballot.  When people see what they get for any investment in infrastructure, they always support the infrastructure.

The Congress though needs your leadership and partnership to deliver on many of our shared priorities, to drive common progress for all.  Together, we’ll make America more safe by passing common sense legislation to end the epidemic of gun violence.


We will make America more American by protecting Dreamers and TPS recipients.


And passing comprehensive immigration reform.


We will make America more just by protecting people with pre-existing conditions, expanding access to health care and lowering the price of prescription drugs, and defending Medicare and Medicaid.


And we will strengthen our democracy by passing the Equality Act, that is an act to end discrimination against LGBT community, and so we are very excited about that.


And our first bill, H.R. 1, to clean up corruption in Washington, to bring dignity to government by lowering the impact of dark, secret special interest money in the political scene, and empowering people, and removing obstacles to participation, and passing the Voting Rights Act.


There are two challenges, well, actually three, that I want to just close with and that is, these are the – here they are.  One is the sinfulness, the immorality of the disparity of income in our country.  It is so stunning and remarkable.  Say 40 years ago or a little bit more, the disparity in income between, and we’ve had this conversation before, but it just gets worse, the disparity in income, between the CEO and the worker, was about 40 percent, and when productivity increased, everyone’s pay increased.  The CEO and the worker.  Now, it’s about 350 to 400 percent, the CEO.

Many CEOs really earned as much as their employees earned in a year, in the first couple of weeks in January, certainly by now.  40, 35, 350 – to 400 times, the CEO pay, to the worker’s pay.  That just simply has to end.  We do not begrudge anyone their success, their wealth, but we don’t want to see an exploitation of the work force in order to achieve that.  So that is part of our For The People agenda, to reduce that disparity, and in doing so, to increase the purchasing power that our workers have.  The middle class purchasing power is the most significant stimulus to the economy.

Secondly, we have to talk about our planet.  I was going to say the denial of some about our planet but let’s be in a more positive vein.


We know that the climate crisis is at crisis in many ways.  First of all, it challenges the air our children breathe, it is a public health issue, clean air, clean water, food safety, it is a public health issue, air pollution.  The Pope called it air pollution, that drives it home for people who think of climate crisis as removed from their lives.  Climate crisis, public health.  Climate crisis, our economic success, to be number one globally, in terms of green technologies.  So it is an economic challenge.

It’s a national security challenge.  Generals, admirals, et cetera, national security people come to us and tell us that this is a national security challenge in terms of conflicts that erupt because of limitation of assets, migrations that occur, droughts, weather conditions that challenge the communities that people live in, and create unease, unrest, in our national security.

And it’s a moral issue.  If you believe, as I do, that this planet is God’s creation – I join with our evangelical community in doing so, this is God’s creation and we have a moral responsibility to be good stewards of it, then we must be good stewards of it.  And if you don’t share that view, but you do agree that we owe it to future generations to pass on the planet, in a responsible way, then again, it is a moral issue.  So that is one of the challenges we face.  And I’m pleased to announce that I have established a Select Committee on Climate, once again.  I had one when I was Speaker before and we have one now, so this is about creating good-paying green jobs, good-paying green jobs.


And ending some of the denial that is there.  Secondly, I said disparity of income.  Third is this is something that if think hits home, no pun intended with many of you, the housing crisis, the homelessness issue that exists in our country.  We have to think in a very drastic way about this.

And I’ll quote Dr. King.  Dr. King said, ‘This is no time to engage in luxury of cooling off or take the tranquilizing drug of gradualism.’  Tranquilizing drug.  We cannot think incrementally.  We have to think big.  And Maxine Waters, who is the chair of the Financial Services Committee, thinks big in this way.  We need to be working with you, to hear your ideas about how we can address the housing crisis and how we can increase the stock, make everything more affordable and meet the challenge to consciousness that homeless is in our country.  Especially our veterans.  Our veterans.  Well, for everyone.  For our families.

I bring back to the veterans because the veterans are so hurt by the shutdown.  Nearly a third of our federal workforce are veterans.  They come from the military, take off the uniform but continue in service to our country, and such an important way.  And we do a disservice to them, we do not appreciate the work that they do and one way to hurt them is to have their credit ratings be lessened because they do not have the paycheck in a timely fashion to pay their bills, their rent, their mortgage, their car payment, their credit card bill.  And if you really want to hurt a veteran, you might have an impact on some of them for their security clearances.  Security clearances are affected by your credit rating.

There are so many ways that this shutdown, that I began my remarks with, and now I end with, does a disservice to our country, and again, must end.  Our journey will not be easy to deliver on all of the priorities For The People.  We must embrace innovation, inclusion, we have to establish your model that you have put forth here today, where we’re coming back to it here, you know it.  Infrastructure, innovation, inclusion.

So guided by bold thinking and inspired by the priorities of those whom we are honored to serve, we can meet the challenges of our time.  This week, we mark the 90th year since the birth of Dr. Martin Luther King Jr.  He was only 39 years old, barely old enough to be President himself and yet he has a monument on the mall, he has a day in his honor because of his values and his leadership and his courage.

Decades since his March on Washington, his words still ring powerfully clear and true.  And I will repeat, ‘This is no time engage in the luxury of cooling off or take the tranquilizing drug of gradualism.  Now is the time to make real the promises of democracy.’


So I congratulate you.  I know some of you will be honored tomorrow for your work in the arts. I  do thank you for that.  I do think one way we can all come together in our country is through the arts.  It is an area where we all, shall we say, put aside our differences, we laugh together, we cry together, we are inspired together, it gives children confidence that they can do other things, if they can be creative.

The poet Shelly once wrote, ‘The greatest force for moral good is imagination.’  So I would add that to our ‘infrastructure, innovation and inclusion’: imagination.  You are masters of it.  You have to be every single day.

So again, I congratulate whose who will be honored for their contribution to the arts.  The mayors have been in the forefront of that for so long.  Recognizing how important it is to ‘infrastructure, innovation and inclusion.  Together, let us move forward to make the promise of progress for every family, in every community, and city across the nation real.  Thank you all for your leadership.

Article source: https://www.speaker.gov/newsroom/12319-5/

Warner introduces legislation to prevent future government shutdowns

The government shutdown has now been going on for more than a month, but newly introduced legislation, if passed, could prevent this from ever happening again.

Sen. Mark Warner, D-Va., introduced legislation that will put an end to all future government shutdowns. The bill, called the Stop STUPIDITY (Shutdowns Transferring Unnecessary Pain and Inflicting Damage In The Coming Years) Act, would fund all aspects of the government except for the legislative branch and the executive office of the president, should another shutdown occur.

Warner explained it would force the White House and Congress to negotiate without putting the risk on the economy or hurting Americans. The bill would keep the government running during the lapse in funding by automatically renewing government funding at the same levels as the previous fiscal year, with adjustments for inflation.

“The Stop STUPIDITY Act takes the aggressive but necessary step of forcing the president and Congress to do the jobs they were elected to do,” Warner said. “It is disturbing that the daily lives of hundreds of thousands of workers are at the mercy of dysfunction in Washington.”

“Workers, business owners and taxpayers are currently paying the price of D.C. gridlock and my legislation will put an end to that,” he said.

The partial government shutdown, which is now on day 32 as of Jan. 23, 2019, is having the highest impact on America’s most vulnerable.

New reports show that federal contracts for 1,150 government-funded properties that house low-income renters expired as a result of the shutdown. This could delay repairs or even cause these families to be evicted. This represents 5% of all Section 8 programs.

But the damage isn’t over. Another 500 contracts are set to expire by the end of January and 550 more by the end of February if the shutdown doesn’t end soon, according to an article by Suzy Khimm and Laura Strickler for NBC News.

And an article by Glenn Thrush for The New York Times outlines the stories of several families whose landlords have told them they must find a way to pay for their rent in full while the government is shut down, or face eviction.

While not all government agencies were affected by the government shutdown, the U.S. Department of Housing and Urban Development was one of the hardest hit.

Article source: https://www.housingwire.com/articles/47985-warner-introduces-legislation-to-prevent-future-government-shutdowns

Redfin: Middle class buyers are being priced out of housing market

Although housing inventory is increasing, affordability for the typical middle class household is retreating, according to new data from Redfin.

“Homeownership is increasingly out of reach for the typical American,” Redfin Chief Economist Daryl Fairweather said. “Over the last few years builders have focused on luxury homes, and there hasn’t been enough construction of affordable starter homes.”

Redfin calculated housing market data ranging from 2017 to 2018, focusing on the share of affordable active listings that were available to households making the median income across 49 metro areas. 

In San Jose, just 14% of homes that were on the market in 2018 were affordable for those making the area’s median household income of $117,000. This is a significant decrease from 2017 when 26% of homes for sale were affordable, according to the company.

Redfin attributes this lack of affordability to gains in home prices and interest rates.

According to ATTOM Data Solutions’ latest affordability report, in the fourth quarter of 2018, the median home price reached its least affordable level since the third quarter of 2008.

“While poor home affordability continues to cloud the U.S. housing market, there are silver linings in the local data as home price appreciation falls more in line with wage growth,” ATTOM Data Solutions Senior Vice President Daren Blomquist said.

In fact, Redfin determined that although the share of affordable homes for sale in these 49 metros fell from 2017 to 2018, a few metros experienced growth in affordability.

These areas included Hartford, Connecticut, where the share of affordable homes grew 19%; Jacksonville, Florida, which increased 9%; and Nashville, where affordable inventory rose 4%.

Furthermore, Redfin notes homebuyers still have housing options in St. Louis, where 84% of homes are affordable to the typical buyer, and Minneapolis and Pittsburgh where 82% of homes meet the average buyer’s budget.

Fairweather said Redfin expects homebuilders to shift their attention to more affordable homes in 2019, which along with rezoning efforts by local governments should reduce this pressure to some degree over time.

That being said, according to the latest Housing Market Index from the National Association of Home Builders/Wells Fargo revealed Persistent affordability concerns contributed to homebuilder confidence retreating four points to 56 in December of last year.

You can read more here

NOTE: Redfin’s housing affordability data is calculated with the assumption that a home required a 20% down payment and an interest rate of 4.64% in 2018 and 3.95% in 2017. As well as a monthly mortgage payment that exceeded no more than 30% of a homebuyer’s gross income.

Article source: https://www.housingwire.com/articles/47987-redfin-middle-class-buyers-are-being-priced-out-of-housing-market

WATCH: AIME Chairman Anthony Casa announcing ARIVE to support 3.2 Export

Anthony Casa, chairman of the Association of Independent Mortgage Experts (AIME), has announced that an FNM 3.2 export will be available on the new ARIVE mortgage platform.

As HousingWire covered previously, ARIVE offers a complete platform for independent mortgage brokers, a single portal to bring together lenders, loan originators, third-party vendors and consumers. ARIVE is exclusively partnered with AIME, and will only be available as a member benefit.

According to Casa, ARIVE is designed to be a one-stop shop for everything a broker needs to originate loans, and eventually to run their entire business. The platform encompasses a Customer Relationship Management (CRM) tool, a Loan Origination System (LOS), a Point of Sale (POS) with integrated loan application capabilities, a Product Pricing Engine (PPE), digital document storage, pipeline management, and automated loan registration.

The crucial differentiator is their Lender Marketplace. ARIVE says the marketplace will allow brokers to see loan product offerings and firm rates from multiple lenders all in one place. Adding the FNM 3.2 export capability to this lineup, said Casa, just made sense. “Brokers deserve every possible tool to succeed in this market. With this addition, there’s literally no reason not to consider ARIVE.”

Along with FMN 3.2 exports, ARIVE has been designed to anticipate upcoming industry changes by working toward a MISMO 3.4 integration with all lender partners in the Lender Marketplace.

ARIVE says they are uniquely positioned to help address current challenges faced by brokers. Customer retention, automation, and analytics can be difficult for small brokerages to manage, but are built into the new platform. Additionally, they can take advantage of economies of scale by virtue of serving large numbers of brokers.

ARIVE is scheduled to begin onboarding brokers at the end of January and throughout February. If you have not pre-registered for ARIVE you can do so at ARIVE.com.  

ARIVE provided this video exclusively to HousingWire.

Article source: https://www.housingwire.com/articles/47988-watch-aime-chairman-anthony-casa-announcing-arive-to-support-32-export

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