On Tuesday, November 5, 2019, The Washington Center for Real Estate Research and Fannie Mae will convene innovators, housing leaders, and academics—in person in Seattle and by livestream—for a half-day conference to explore the intersection of housing, innovation, and tech.
Tuesday, November 5 | 8:00 a.m.–1:00 p.m. PST Block 41 | 115 Bell Street, Seattle, WA, 98121
Lots of movies can be recognizable by some of their most quotable lines, whether they’re spoken by antagonists or protagonists. So with this, we have listed the top 11 movie one-liners that are too good not to remember:
1. Terminator 2
A Redditor shared this line from one of the most famous movies of all time, Terminator, “Hasta la vista, Baby.” One also commented with another line from the movie, “I’ll be back….” Another added, [That’s] literally the first thing I thought about when reading the post.”
2. Toy Story
One user said, “To infinity and beyond!” Another Redditor added, “HE’S NOT FLYING! He’s just falling…with style.” “There’s a snake in my boots!” replied one. Another shared, “So long… Partner.”
3. The Sixth Sense
One commenter posted, “I see dead people.” Another commenter identified the movie just from that line, “Sixth sense, if I’m not mistaken. Extremely good, I just saw it a few weeks ago.” One user also said, “It was before I was informed of it as well. It caught me by complete surprise.”
4. Truman
“Good morning, and in case I don’t see ya, good afternoon, good evening, and goodnight!” one Reddit user posted. Another one replied, “That movie is such a gem.” One also commented, “And it’s timeless; you could see it at the premiere, and you could see it now for the first time, and it would still make total sense.”
5. The Shining
A Redditor posted, “Here’s Johnny!”. One unknowingly replied, “All I need is a title…” Another commented, “Can’t murder now, eating.”
6. Harry Potter
Another user commented, “Yer a wizard, Harry.” and one replied,” I’m a wot?” Another user also shared,” A WIZAHD.”
Someone replied,” But I’m jus’ ‘Arry!”
A Reddit user then ended with,” Well “jus’ ‘Arry,” yer a wizahd!”
7. Taken
Almost every user expects this one-liner from this movie, as one of the Reddit users posted, “I will find you… And I will kill you….”
A user replied, “I feel like the “very particular set of skills” part is the more iconic part.” Another one added, “Good luck…” while a user shared, “The most satisfying scene is when Mr. “Good Luck,” was the one Bryan strapped into the electric chair to interrogate him, and then keeping his word, once he had his intel he left the room with the switch thrown, leaving the scumbag to fry!”
8. Sparta
One user commented,” “THIS… IS… SPARTA!!!” Another replied, “Loved that episode of Frasier.”
9. The Lord of the Rings
One Redditor exclaimed online, “YOU. SHALL. NOT. PASS!!!!” Another user then replied, “GANDAAALFFF!!!”
10. Snakes on a Plane
A sharer commented, “I HAVE HAD IT WITH THESE MOTHERF***G SNAKES ON THIS MOTHERF***G PLANE!” Another user commented, “I have had it with these monkey fighting snakes on this Monday to Friday plane!”
11. Home Alone 2
One Reddit user posted, “Keep the change, ya filthy animal.” Another one then responded, “That’s a tricky one, though. Could be a quote from a movie within a movie.”
One user also shared, “I think we’re getting scammed by a kindy-gartner.”
Source: Reddit.
We’ve all been there – sitting through a movie that we can’t help but cringe at, but somehow it still manages to hold a special place in our hearts.
These 10 Terrible Movies Are Still People’s Favorites
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Have you had a bad experience visiting a city and sworn never to return? Not every trip is a great experience.
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10 of the Greatest American Bands of All Time
When it comes to music, the mantra “beauty lies in the eye of the beholder” holds truer than ever. Nevertheless, we’ve worked hard to pinpoint the best American bands ever.
10 of the Greatest American Bands of All Time
10 Crazy Good Movies Where Women Are the Bad Guys
Are you looking for a movie night with a twist? Look no further than these Reddit-voted top ten films where women take on the destructive bad guy role.
10 Crazy Good Movies Where Women Are the Bad Guys
10 of the Worst TV Series Ever According to the Internet
There’s Seinfeld, The Sopranos, Game of Thrones, The Office, and other legendary shows. But have you considered that for each show that garners universal critical acclaim, there is an inverse show lurking on the other end of the IMDb rating scale?
10 of the Worst TV Series Ever According to the Internet
If you’re like a lot of people, you don’t have the first clue about investing, at least not proper investing. To clear up the confusion and help take the sting of intimidation out of the realm of finance, learn a few tips for first time investing to help you grow your wealth, retire with peace of mind, and meet your financial goals.
What is Investing, Really?
The absolute best place to start when it comes to learning about investing is with learning exactly what investing is. Simply put, investing is the act of using your money, rather than your time, to build your money. Sure you can grow your wealth by working more, but there are only so many hours in the day. You can easily burn yourself out working around the clock; hence, learning about investing for beginners.
Compounding Your Returns
There’s no better feeling than watching your investments grow, all without lifting a finger or investing more money. Rather than pat yourself on the back and withdraw some of the money you’ve earned, it’s much better to leave it exactly where it is. Compounding is a financial term that simply means you’re stacking your return on investment, or ROI, the longer your investment is recycled and allowed to grow.
Let’s say you invest $20,000 today when interest rates are six percent. After a year, you’ll have $21,200, compounded annually. Rather than touch a cent of that money, you instead leave it where it is. In a few more years, you’ll have made thousands, all without having to put in a second of extra work. Now, let’s take a look at some options for investing for beginners.
The 3 Big Investing: Exchange-Traded Funds, Mutual Funds, and Certificates of Deposit
Exchange-traded funds, often referred to as ETFs, are one of the most popular investment options. These funds can be either sold or bought on an exchange throughout the trading day. ETFs are linked to the U.S. stock market and make great investments for both beginners and experts.
If you’ve got at least $1,000 to invest, a mutual fund may be ideal for first time investing. Know that you’ll likely have to have at least a $1,000 in your fund in order for it to remain active. Mutual fund investments are an ideal choice for those who are looking to save money for retirement, and they’re even better if you’re currently contributing to either a 401(k) fund or an IRA.
Looking for one of the safest options investments out there? Consider a Certificate of Deposit, also known as a CD, which is insured by the Federal Deposit Insurance Corp, which means you can’t lose money. That being said, this low risk comes with a relatively low return, possibly less than one percent a year. As a beginner, you’ll want to be rather conservative with your first CD.
Finding the Right Amount of Risk
Due to the fact that there’s hardly any risk without reward, you need to know just how much risk you should take when it comes to investing for beginners. The best way to do this is to subtract your current age from 100. Someone who is 20 can invest 80 percent of his or her investment in a risky option, like the stock market. The remaining 20 percent should be funneled into a CD or a U.S. savings bond.
Additionally, you’ll be wise to go over your investing options with an experienced and trusted financial adviser who has worked with beginner investors like you. Know that you’ll have to pay for professional advice, which can be as much as one percent a year. Before deciding on an adviser and agreeing to any fees, check the FINRA BrokerCheck to make sure the individual is well-qualified and currently registered.
No matter your level of risk or your adviser, there are a few standards to adhere to when it comes to investing:
Keep your costs low
Diversify your investments
Make sure you’re investing in a way that matches your level of risk
If You’re Going to Invest, Start Sooner Rather Than Later
Going back to compounding, first time investing should be done ASAP. This isn’t to say that you should rush out and put down money on a mutual fund or CD, just that the earlier you start investing, the more you’ll be able to reap what you sow.
Let’s say you invest $15,000 at the age of 25 when annual interest rates are 5.5 percent. When you turn 50, that investment will have grown to $57,200.89. If you had waited until the age of 35 to invest that same amount of money at the same annual interest rate, you’ll only have $33,487.15 when you’re 50, a difference of $23,713.74. Let that sink in for a moment.
These are just the basics of your many investing options. Do some more digging on your own, and seek out family and friends who invest for more information.
The median U.S. home price saw its biggest surge in 10 months, but the latest rise may not completely reflect the true nature of current trends, some experts say.
The median value of for-sale single-family properties shot up 4.8% to $379,975 on an annual basis for the four-week period ending Aug. 27, according to the latest figures from Redfin. The upturn was the largest since last October.
Indicative of the effect scarce inventory is having on today’s housing market, prices rose despite the current interest-rate environment, as competition remains heavy for the limited number of homes on the market even with fewer buyers, the real estate brokerage said. The volume of active listings was down 18.7% from a year ago and saw a slight month-over-month drop in a time of year when they usually rise. Earlier this summer, the company found supply down by almost 40% compared to pre-pandemic 2018.
The shortfall has contributed to an approximately 14% dip in pending home sales from a year ago, although July saw a surprising monthly increase, according to the National Association of Realtors.
But Redfin also said the median-price jump had much to do with a rapid drop in housing costs that the market first saw in summer 2022, when interest rates began their steep climb upward. From 5.66% a year ago, the 30-year mortgage rate has jumped more than 1.5% percentage points in the past 12 months, according to Freddie Mac’s weekly surveys. The latest numbers reported on Thursday showed the 30-year average at 7.18%.
The observation was echoed by researchers at Black Knight.. Even if seasonally adjusted prices were to stop rising immediately, annual home price growth would still continue its upward trajectory, “simply due to price gains that are already ‘baked in,'” said Andy Walden, Black Knight’s vice president of research, in a press release.
Additionally, with unadjusted monthly gains slowing this summer compared to historical averages in July, Black Knight rate lock and sales transaction data also point to lower average purchase prices and seasonally adjusted price per square foot among recent sales,” Walden said, “suggesting a possible transition might be underway.”
In Redfin’s August data, the company found median values up in 44 out of 50 markets covered, led by Miami’s 17.1% year-over-year increase. It was followed by Newark, New Jersey, at 16.1% and San Diego at 12.3%.
Miami’s price-growth rates outpaces the national average by such a large degree, as the city never posted any annual drops in the first half of 2023 unlike the rest of the country, Redfin said. The market is also unique in the number of out-of-town buyers and investors it sees who often purchase properties in cash.
The six metropolitan areas experiencing annual drops in their median home price were concentrated in the Southwest. Austin, Texas, recorded the largest drop at 8.7%, followed by Phoenix at 2.4%. Portland, Oregon, Fort Worth, Texas, Las Vegas and San Antonio also saw annual decreases, all below 1.5%.
Bonds lost ground today and it definitely wasn’t as simple as traders having second thoughts about the strength of today’s jobs report. While it’s true that the 3.8% unemployment rate overstated last month’s shift (due to the rise in the participation rate), it’s also true that this is the first time since 2020 that NFP has been under 200k for 2 consecutive months (revisions are unlikely to change that, given the prevailing trend). The lopsided nature of the selling pointed to yield curve considerations and the odd combination of positioning for an NFP Friday, a Friday before a 3 day weekend, and the first day of a new month all at the same time. It wasn’t officially an early closer, but the bond market got in and got out by lunch, leaving 10yr yields 7.5bps higher. MBS only lost an eighth and change due to curve steepening (shorter-term yields fared better and MBS aren’t expected to be as long-lived as 10yr Treasuries).
NFP
187k vs 170k f’cast, 157k prev
Unemployment
3.8 vs 3.5 f’cast/prev
Participation Rate
62.8 vs 62.6 prev
Wages
0.2 vs 0.3 f’cast, 0.4 prev
ISM Manufacturing PMI
47.6 vs 47.0 f’cast, 46.4 prev
Construction Spending
0.7 vs 0.5 f’cast, 0.6 prev
08:57 AM
Initially stronger after jobs data but gains evaporating now. 10yr down only 1.1bps at 4.095. MBS up 3 ticks (0.09), but down an eighth from the highs.
09:43 AM
Well into the red now with 10s up 3.2bps at 4.134 and MBS down almost an eighth.
10:44 AM
Weakest levels of the day with 10yr up 7.5bps at 4.18 and MBS down 3/8ths.
03:09 PM
Decent recovery after the last update with 10yr yields grinding down to 4.17% and MBS now down only an eighth of a point.
Download our mobile app to get alerts for MBS Commentary and streaming MBS and Treasury prices.
The average U.S. rate for a 30-year fixed mortgage this week is 3.13%, matching last week’s rate that was the lowest on record, according to Freddie Mac.
Mortgage rates remained at the record low as the three most populous U.S. states – California, Texas and Florida – hit new highs for COVID-19 infections, driving money managers to seek fixed-income investments like mortgage bonds in a “flight to safety,” said Keith Gumbinger, vice president of mortgage-data firm HSH.com.
“With the rising incidents of COVID-19 in some states, there’s definitely a little bit of a shift to safety, a shift into bonds as investors wait to see how the story unfolds,” Gumbinger said.
Low mortgage rates have been a bright spot in the U.S. economy since the Federal Reserve stepped into the bond market in March and began buying fixed assets to boost competition and shrink yields. Fed Chairman Jerome Powell has pledged to keep purchasing Treasuries and mortgage bonds for as long as support is needed.
The low interest rates have helped to support home prices. When rates are cheaper, the size of the mortgage borrowers can get becomes bigger because monthly payments shrink as financing costs go lower. That means people can bid higher for a home they like.
Prices for homes in April that were bought with mortgages backed by Fannie Mae and Freddie Mac increased 5.5% from a year earlier, which matched the annual gain seen in April 2019, long before the pandemic emerged.
Rates aren’t expected to jump any time soon. Fannie Mae, the larger rival to Freddie Mac, said in a forecast earlier this month that the average 30-year fixed rate for 2020 probably will be 3.2%, down from 2019’s 3.9%. This would be the lowest annual average ever recorded. For 2021, Fannie Mae said it expects the average rate to drop to 2.9%.
On Friday, the average 30-year fixed mortgage rate jumped to 7.19%. Over the past few months, mortgage rates have climbed back up. Financial markets, which have reacted to stronger-than-expected labor market data, are now factoring in higher probabilities of the Fed maintaining higher interest rates for a prolonged period.
This 7.19% mortgage rate is the second highest recorded by Mortgage News Daily since early November. It was surpassed only by the 7.22% rate reached in July.
This surge in mortgage rates signifies another decline in U.S. housing affordability. For instance, a borrower who secured a $500,000 mortgage at a fixed rate of 5.99% in early February 2023 would have had a monthly payment of $2,995 for principal and interest. However, at the 7.19% rate (which was the average on Friday), the same borrower would face a monthly payment of $3,391 for a loan of the same size.
Looking ahead, economists emphasize three factors that can improve housing affordability: increasing incomes, decreasing home prices, and lowering mortgage rates. Among these factors, mortgage rates can exert the most substantial influence in the short term. This is due to the fact that home prices tend to be sticky, and income growth has limitations even in a robust labor market.
Where are mortgage rates heading from here? To get some clues, Fortune tracked down mortgage rate forecasts from eight leading research firms. However, it’s important to acknowledge that predicting future mortgage rates is a challenging task, and recent history has shown that mortgage rate forecasters have struggled.
The Mortgage Bankers Association: The D.C.-based trade group projects that the 30-year fixed mortgage rate will average 5.9% in Q4 2023. Beyond this year, the group expects mortgage rates to slide to 4.9% by Q4 2024.
Morningstar: Economists at Morningstar project that the average 30-year fixed mortgage rate will average 6.25% in 2023, 5.0% in 2024, and 4.0% in 2025.
Goldman Sachs: The investment bank projects that the 30-year fixed mortgage rate will end 2023 at 6.4%. In 2024, Goldman Sachs expects the 30-year fixed mortgage rate will average 5.9%.
The National Association of Realtors: Economists at NAR forecast that the 30-year fixed mortgage rate will slide to 6.4% before the end of 2023, and then to 6.0% in 2024.
Morgan Stanley: The Agency MBS strategists at Morgan Stanley project that the 30-year fixed mortgage rate will start 2024 at 6.0%.
Moody’s Analytics: The financial intelligence arm of Moody’s still projects that the 30-year fixed mortgage rate will average 6.5% through most of 2023. Moody’s Analytics chief economist Mark Zandi tells Fortune that he expects that to slide to 6.0% by the end of 2024, and then hit 5.5% in 2025.
Realtor.com: Economists at the home listing site believe the 30-year fixed mortgage rate will start 2024 at 6.1%.
Fannie Mae: Economists at Fannie Mae forecast that the 30-year fixed mortgage rate will average 6.6% in Q4 2023. Then Fannie Mae expects mortgage rates to grind down to an average of 5.9% in Q4 2024. For the calendar year, Fannie Mae expects mortgage rates to average 6.1% in 2024.
Want to stay updated on the housing market? Follow me on Twitter at @NewsLambert.
Rate lock volume jumped 43% in March on the back of seasonal tailwinds, falling interest rates and stronger purchase market performance.
Lock volumes increased across the board, led by purchase locks jumping 44% in March — well above the 30% average February to March gain seen across the past 5 years, Black Knight’s originations market monitor report showed.
While purchase locks showed significant improvement month over month, the volume is 40% down compared to March 2022.
Cash-out refis were up 31% in March from the previous month, and even rate/terms – which have been all but nonexistent lately – grew by 36%. Compared to the same period last year, cash-out refis were down 80% and rate/term refis declined 71%.
“This continues to be an incredibly rate-sensitive housing market, and March’s rate lock activity perfectly illustrates this dynamic,” Andy Walden, vice president of enterprise research at Black Knight, said.
In early March, when mortgage rates started their climb back toward 7%, originations faced pronounced downward pressure.
However, when investors flocked to safe-haven assets in the wake of uncertainty in the banking sectors — which led to rates coming down roughly a quarter of a point — the mortgage industry saw another quick surge in originations, particularly the purchase market, Walden noted.
The 30-year fixed mortgage rate climbed to the highest levels of the year in early March, reaching 6.8% before dropping to 6.4% by the end of the month, Black Knight’s Optimal Blue mortgage market indices showed.
The disproportionate surge in purchase lending pushed the refi share of the market mix down to a current cycle low of just 13%. The ARM share of the month’s activity fell to less than 9% as borrowers took advantage of falling rates and shifted toward fixed-rate products.
The Federal Housing Administration (FHA) loan share increased to more than 20% of the pipeline in March, up from 18% at the start of the year and 12% from a year ago.
“A cooling market lacking the multiple bids and all-cash offers of the recent past has made sellers more receptive to FHA offers. That, combined with a recent reduction in FHA mortgage insurance premiums and a mid-month increase in the FHA-to-conforming spread, made FHA loans comparatively more attractive,” Walden said.
In a widely anticipated move, the FHA announced a 30 basis point reduction in the annual premium charged to mortgage brokers in February. Most borrowers are expected to see mortgage insurance premiums (MIPs) reduce to 55 bps from 85.
With the cut, housing costs will reduce by an average of $800 for roughly 850,000 homebuyers and homeowners in 2023, the White House said following the FHA’s announcement.
A fallen tree can significantly damage your home and other property. Homeowners insurance will likely cover the damage caused by the tree, but you may wonder if your policy will cover the cost of removing it. The answer is: It depends.
Does homeowners insurance cover tree removal?
If a tree falls for a reason covered by your policy, like strong winds or lightning, and damages your home, garage or other insured structures, your home insurance will likely cover the cost to remove the tree as well as the damage to your home.
There’s usually a limit to how much your insurance company will pay to remove debris, which includes fallen trees. This limit is typically around $500 to $1,000.
When doesn’t home insurance cover tree removal?
Home insurance won’t always pay for tree removal. Here are a few scenarios where you’re unlikely to have coverage.
No damage to property
If a tree falls as a result of snow, wind, hail or another covered event, but doesn’t damage structures such as your home or fence, you’ll likely be responsible for the cost of removing it.
One common exception is if the tree is blocking your driveway or a wheelchair ramp. In this case, your insurance may help cover the cost of removal.
Preventive tree removal
Home insurance normally won’t cover the cost of removing trees that pose no immediate threat to your property. This includes clearing sick or dying trees to prevent possible future damage. That’s considered part of your responsibility as a homeowner.
Events not covered by your policy
If a tree falls due to an event not covered by your policy, like a flood, earthquake or mudslide, you may need to pay for the removal out of your own pocket. It will likely not be covered by insurance.
How much does tree removal cost?
You can expect to pay between $200 and $2,000 for tree removal
. The exact price depends on the size of the tree, its location and job complexity. For example, trees under 30 feet may cost $200 to $450 to remove, while trees over 80 feet can cost $1,000 to $2,000 or more, depending on whether a crane is needed.
Even smaller trees can be expensive to remove if they’re near buildings, power lines or other structures. Similarly, trees with multiple branches or pest infestations can increase the total expense.
🤓Nerdy Tip
Weigh the cost of removal against your home insurance deductible, which is the amount you pay out of pocket before insurance covers the rest. If the cost of removing the tree isn’t much higher than your deductible, it may make sense to pay out of pocket instead of filing a claim. That way you can avoid premium increases or losing any claim-free discounts you might have.
Does home insurance cover damage caused by your neighbor’s tree?
If your neighbor’s tree falls onto your property and damages your home or another insured structure, like a garage or fence, you’ll typically need to file a claim with your own home insurance. Your insurance should cover the damage and removal costs, even if the tree was on your neighbor’s property.
If your neighbor’s tree was dead, diseased or poorly maintained and it falls on your property, your neighbor may be liable for the damages and removal costs. However, proving your neighbor knew the tree posed a risk before it fell can be a challenge. If you have proof that you informed your neighbor about the tree’s condition before it fell, it can strengthen your case. An example of proof would be a certified letter from a tree expert stating the tree needs to be removed.
Does homeowners insurance cover tree damage to your neighbor’s property?
If a tree on your property falls and damages your neighbor’s house, their insurance policy should cover the cost of repairing the damage. You shouldn’t need to file a claim with your own insurance.
That said, you could be responsible for the removal if your neighbor told you the tree was at risk of damaging their property and they have a paper trail to prove it. This could be considered negligence on your part.
What if a tree lands on your car?
Home insurance generally won’t cover a tree crashing onto your car. Instead, this type of situation falls under your auto insurance policy. If you have comprehensive auto insurance, it should cover the damage from the fallen tree. Comprehensive coverage pays for damage from non-collision events, like storms, falling trees, theft and vandalism. You may be responsible for the damage if you don’t have comprehensive coverage.
How to protect your home from tree damage
If you have trees on your property, these tips can help protect your home from damage:
Regularly inspect your trees. Look for signs of damage or disease, such as cracks, splits or dead branches. If you notice any issues, consider hiring a professional arborist to take care of the problem.
Trim your trees. Regular pruning can prevent branches from falling and damaging your home. Remove any dead or diseased branches, and trim trees so the remaining branches are a safe distance away from power lines and other structures. You may want to hire an arborist to trim branches near power lines.
Choose the right trees. Consider the size and location carefully when planting new trees. Ensure the tree is appropriate for the space and won’t cause damage to your home or other structures as it grows.
Freddie Mac Multifamily has chosen Peter Lillestolen (pictured) to lead its targeted affordable housing (TAH) business as vice president of production and sales. In this new position, Lillestolen will oversee low-income housing tax credit (LIHTC) equity, conventional and TAH structured transactions, as well as seniors housing. Steve Johnson, senior vice president for Freddie Mac Multifamily’s … [Read more…]