curve

Apache is functioning normally

Mortgage industry executives are on alert amid the global stock-market meltdown caused by fears that the Federal Reserve may have kept the federal funds rate too high for too long, which could bring the U.S. economy into recession.

Tensions in the bond markets have provoked a decline in mortgage rates, which is good news for originators since they could have more demand for loans. Operationally, leaders must decide when to add capacity — if they haven’t already — and how to manage the incoming volume. They will also monitor early payoffs (EPOs), the fees that investors impose whenever a borrower pays off their mortgage, usually within six months of funding.

When considering the servicing business, a sharp decline in rates reduces the fair value of mortgage servicing rights (MSRs), which can impact lender earnings if they haven’t protected their portfolio against these moves. If the answer is no, there is one caveat: The cost of hedging can go up in times of volatility. 

The market turmoil started when the jobs report released on Friday showed the unemployment rate at 4.3% in July, up from 4.1% in the previous month, while total nonfarm payroll jobs rose by 114,000, below analysts’ expectations.

Investors started a sell-off that resulted in the two-year Treasury yield shrinking from 4.12% on Friday to 3.87% at its lowest point on Monday, higher than the low level of 3.66% for the 10-year Treasury. When the curve is inverted, with higher short-term yields, it’s a signal of recession. On Tuesday, bond yields partially recovered, with the two-year at 3.93% and the 10-year at 3.83%. 

Melissa Cohn, regional vice president for William Raveis Mortgage, said the market reacted to weaker-than-expected economic reports that show the U.S. is likely headed into a recession. This means that Fed officials should have cut rates at their July meeting. Geopolitical realities, like tensions in the Middle East, only add to the volatility.  

“If you look at the jobs report, and that trend goes on for another month or two, the answer is yes: the economy will go into recession,” Cohn said. “Will the Fed come and do an emergency rate cut? I don’t know. I think we get a few more days of extreme volatility. We’re going to be very much in a rollercoaster. But we haven’t fallen off the cliff yet.” 

In the mortgage market, this was reflected by mortgage rates dropping to the “high 5s” on Friday for borrowers with strong credit and rebounding to the “low 6s” on Monday, according to Cohn. She added that conforming loans “have taken a much bigger drop than in the jumbo space, where some banks have reduced rates cautiously.” Meanwhile, rates are “slower to come down” in the nonqualified mortgage business. 

Getting ready for lower rates

William Chang, senior managing director and chief investment officer at Pennymac, said that Monday morning saw a “violent move both in the equity and bond markets at the open when there was a flight to safety trade, with investors loading up on Treasurys.”

“Mortgages were underperforming throughout early Monday morning, but the markets seem to have leveled out a little bit in the afternoon,“ mainly because data shows that the services sector expanded in July, Chang added. 

“If you do have a continued move down in the Treasury yield, you are going to see originators bring some capacity back on,“ he said. “It just depends on how quickly that move happens. If you have a big move and rates go down, the refinance bubble market will grow all of a sudden, but if you have a stairstep move in the rates, it’ll be more gradual. People will be able to adjust their capacity accordingly.” 

Chang said that a big move in the market to bring in more refinance business will “set up for potentially better margins” since some companies will be short on capacity. That’s when originators would grant their borrowers longer lock-in periods. Some lenders will wait to add capacity, but others may feel compelled to hire LOs. 

According to industry executives, early payoffs are a side effect of a refinance wave, which has yet to been noticed in the market due to the recent drop in mortgage rates. Another effect of lower rates is the impact on servicing portfolios, with a reduction in the fair value of MSRs. Lenders protect their balance sheets by hedging their books. 

“We want to help preserve our book value and minimize earnings volatility. But we also borrow against our MSRs, so if we’re subjected to a margin call, for example, we do want to have hedged gains that we can utilize to help offset the fair value decline and help us meet those margin calls if necessary,” Chang said. 

Pennymac will look at “basically 125 basis points higher and 125 points lower” when planning its hedging position, Chang said. He added that the company “went into this current period of market volatility having optional coverage,“ but if “we were to buy more options now, it would be very expensive.” 

At United Wholesale Mortgage, volumes increased over the past few days due to a reduction in rates, which the company expects to continue through the end of the year, according to chief strategy officer Alex Elezaj.

“People are locking in loans over the past couple of days in the high 5s because there are millions of consumers out there who have mortgages at high 6s, 7s or 8s,” Elezaj said. “Historically, what you see as rates go down, margins generally expand — but I think it’s hard to tell, especially because it’s only been a couple of days. The dust needs to settle before people get excited one way or another.”

Elezaj said UWM invested in technology, hired people and improved its processes so brokers could close loans within 14 days and remove the need to extend lock-in periods to borrowers. And when the refi wave hits, he said EPOs are a “good problem,” meaning “that’s part of doing business.” 

UWM has taken a different approach from other competitors, selling MSRs to focus on the origination business. According to Elezaj, loan production works like a “natural hedge” to the servicing portfolio.

Source: housingwire.com

Apache is functioning normally

“For example, I locked one loan today that would have cost the borrower 1.213 points on Monday versus 0.375 today. This loan amount happens to be $610,000, and the cost of the rate went from costing $7,400 to costing $3,200 today,” Hoff said. “The average mortgage loan amount in the U.S. is $405,000, and saving an extra 80 basis points could equate to $150 to $250 a month, depending on the overall scenario. This is huge for borrowers.”

According to Hoff, borrowers who take advantage of these rates are those who have purchased or taken a cash-out refinance over the past 12 to 18 months. In addition, some borrowers are looking to buy now or have been prequalified this past year.

“They can take advantage of a lower payment or even qualifying for a higher purchase price if the DTI was a key factor in the preapproval,” she said.

Hoff has already advised her clients on “rate alerts” to “get the ball rolling now so that they can be prepared for when the rate reaches the level of benefit.”

Looking forward, she believes rates will be volatile and “jump all over the place, just like the stock market.”

“Usually, when rates take a big drop, we see a correction the following week,” Hoff said. “I hope this is not the case, but I advised my clients that this is the reason why I locked three loans today.”

Cutting fees for VA borrowers

Patton Gade, the national director of military lending at UMortgage, said he believes the market has already priced in a September rate hike. He’s not limboing as low as possible on rates but is stacking fees on top or structuring refis to eat up equity.

“Some will dazzle with a 5.2% rate, but they’re charging a full point on the origination fee and two discount points,” Gade said. “I believe the best way to care for the veteran is a loan with little to no fees. The lowest rate for the lowest possible cost is the way I want to go.”

As for the future, he’s not banking on the notion that rates are going to continue dropping into the low 6s and beyond.

“You can’t bet your life or client’s financial future on what we think might happen in the next six, 12, 18 months. Things happen that are unexpected,” Gade said.

Daniel Sa, a division president at NFM Lending, said he’s been proactive in communicating with past clients about how they can benefit from refinances. He’s telling clients they can refi with no lender fees and get an appraisal reimbursement.

“Given the recent positive shifts in the mortgage rate environment, we believe the coming months, especially between September and December, will be the optimal time for our clients to refinance,” Sa said.

“For new customers, we are currently quoting competitive rates that reflect both the current market conditions at 6.375% to 6.750% and our anticipation of further rate reductions,” he said. “This strategic positioning is designed to ensure our clients not only benefit from potential rate decreases but are also well-informed and prepared to act quickly to optimize their mortgage terms.

“Our aim is to keep our clients ahead of the curve, maximizing their financial benefits and enhancing their overall satisfaction with our services.”

Source: housingwire.com

Apache is functioning normally

Adaptive cruise control (ACC) is similar to standard cruise control in that it maintains a driver’s preset speed once engaged. But unlike basic cruise control, ACC also automatically adjusts a car’s speed based on traffic conditions.

For example, if the car in front of you slows, the system will automatically engage the car’s brakes to slow your speed and maintain a safe distance between you and the car ahead. Once the car in front of you speeds up, the system will resume the set speed.

While not federally mandated, most new cars come with ACC technology.

🤓Nerdy Tip

ACC is an advanced-driver assistance system, or ADAS. ADAS use in-vehicle technological features to help increase safety while driving. Other ADAS technologies include antilock brakes, lane departure warning and forward collision warning, among others. Some ADAS technologies are paired together in some newer vehicles, but this isn’t always the case.

How does adaptive cruise control work?

ACC systems use cameras, sensors and radar technology — or a combination of the three — to monitor the distance between your car and the car in front of you. This technology also automatically accelerates or slows your car, based on your settings and the speed limit.

You can set your speed and following distance, or how much space you want between the car in front of you and your car, with controls typically located on the steering wheel. ACC systems automatically keep your car at the preset speed and distance unless traffic ahead slows or you brake. You can reset your speed and distance at any time while driving.

What to know about adaptive cruise control

Adaptive cruise control systems are also often referred to as active cruise control, dynamic cruise control, radar cruise control and intelligent cruise control, among other names. And like its names, the specifics of how the system functions can also vary between vehicle makes and models.

For example, most ACC systems can bring your car to a complete stop if traffic around you stops, then accelerate once traffic picks up again. Other systems, however, don’t have this capability or may not work below certain speeds.

Some ACC systems can anticipate curves and adjust a car’s speed when it’s approaching a curve. However, some ACC systems may not be able to anticipate traffic on curving roads as well as they would on straight ones, and therefore may not be able to adjust a car’s speed accordingly.

Like similar advanced safety features that use cameras and sensors, ACC functionality can be affected by weather conditions like rain or snow, which means that drivers should remain vigilant even when the system is activated.

Source: nerdwallet.com

Apache is functioning normally

The new week is one day less new today, but no less sideways so far.  Yields rose microscopically in the overnight session, but even that is a generous assessment considering the range in the 10yr was less than 3bps.  Domestic hours are off to a sleepy start with yields in an even narrower 1bp range (essentially 4.29 to 4.30).

MBS have been a bit more willing to move with 6.0 coupons back into positive territory after a weaker start. 

The Treasury yield curve helps explain the outperformance with 2yr yields unchanged and 10yr yields up 1.5bps on the day. 

Against this boring backdrop, there’s nothing to do but wait to see if Powell has something interesting to say in the 10am congressional testimony.  Apart from that, the Treasury auction cycle is another source of potential volatility starting at 1pm, but tomorrow’s 10yr auction is far more capable than today’s 3yr auction in that regard.

Source: mortgagenewsdaily.com

Apache is functioning normally

Mortgage interest rates moved in different directions compared to last week, according to rate data compiled by Bankrate. See below for a detailed breakdown of how different loan types moved.

Inflation has cooled somewhat, but homebuyers are still feeling limited by high prices and rates. At the close of the Fed meeting on June 12, policymakers chose to hold rates at current levels.. The next Fed meeting concludes July 31.

“With [the June 12] announcement, the Fed confirms its higher-for-longer position on interest rates,” says Dr. Selma Hepp, chief economist at CoreLogic. “But the stance is looking more untenable as more American households continue to pull back on spending. As more economic indicators begin to confirm this and unemployment begins to rise, the Fed will then look to cut rates. What’s not clear yet is when exactly the disinflation signs will be consistent enough for the first rate cut — we hope it’s still this year.”

Often, though, the decision to buy a home isn’t based on what’s happening in the economy — it’s more personal. Depending on your situation, it might make sense to take a higher rate now and refinance later. This way you can start building equity, rather than hoping for a future of more favorable rates and home prices that might not materialize.

Rates accurate as of July 9, 2024.

The rates listed here are marketplace averages based on the assumptions shown here. Actual rates listed within the site may vary. This story has been reviewed by Suzanne De Vita. All rate data accurate as of Tuesday, July 9th, 2024 at 7:30 a.m. ET.

Current 30 year mortgage rate flat for the week

The average rate you’ll pay for a 30-year fixed mortgage today is 7.07 percent, unchanged over the last seven days. A month ago, the average rate on a 30-year fixed mortgage was higher, at 7.09 percent.

At the current average rate, you’ll pay principal and interest of $670.01 for every $100,000 you borrow.

Use the loan widgets on this page or head to our primary rates page to see what kind of rates are available in your situation. You just need to give us a little information about your finances and where you live. With that data, Bankrate can show you real-time estimates of mortgages available to you from a number of providers.

15-year fixed mortgage rate moves lower, -0.03%

The average 15-year fixed-mortgage rate is 6.56 percent, down 3 basis points over the last week.

Monthly payments on a 15-year fixed mortgage at that rate will cost approximately $874 per $100,000 borrowed. That’s clearly much higher than the monthly payment would be on a 30-year mortgage at that rate, but it comes with some big advantages: You’ll come out several thousand dollars ahead over the life of the loan in total interest paid and build equity much faster.

5/1 ARM moves upward, +0.03%

The average rate on a 5/1 adjustable rate mortgage is 6.68 percent, rising 3 basis points over the last week.

Adjustable-rate mortgages, or ARMs, are mortgage terms that come with a floating interest rate. To put it another way, the interest rate will change at regular intervals, unlike fixed-rate mortgages. These types of loans are best for people who expect to sell or refinance before the first or second adjustment. Rates could be materially higher when the loan first adjusts, and thereafter.

While borrowers shunned ARMs during the pandemic days of super-low rates, this type of loan has made a comeback as mortgage rates have risen.

Monthly payments on a 5/1 ARM at 6.68 percent would cost about $644 for each $100,000 borrowed over the initial five years, but could increase by hundreds of dollars afterward, depending on the loan’s terms.

Jumbo loan interest rate moves up, +0.08%

The average rate for a jumbo mortgage is 7.23 percent, up 8 basis points since the same time last week. A month ago, the average rate on a jumbo mortgage was lower at 7.16 percent.

At today’s average rate, you’ll pay principal and interest of $680.82 for every $100,000 you borrow. That’s $5.41 higher compared with last week.

Refinance rates

30-year fixed-rate refinance eases, -0.03%

The average 30-year fixed-refinance rate is 7.03 percent, down 3 basis points over the last week. A month ago, the average rate on a 30-year fixed refinance was higher at 7.12 percent.

At the current average rate, you’ll pay $667.32 per month in principal and interest for every $100,000 you borrow. That’s down $2.02 from what it would have been last week.

Where are mortgage rates going?

The rates on 30-year mortgages mostly reflect the 10-year Treasury yield, which changes with the market. The yield curve is a tool used by investors to predict where interest rates could be headed.

“The yield curve remains inverted — no surprise here,” says Ken Johnson of Florida Atlantic University. “Until the yield curve reverts to its normal upward slope, we will not see significant downward pressure on mortgage rates.”

Besides bond yields, the Federal Reserve’s key benchmark rate also has an impact. The Fed has held this rate at a 23-year high since July 2023.

If and when the Fed cuts interest rates depends on evolving economic data, such as inflation and the jobs market. While inflation has fallen since its peak in 2022, it’s still well above the Fed’s target rate of 2 percent. Unemployment is still low, though in May it hit 4 percent for the first time since 2022.

“Much like that flight where departure keeps getting delayed 15 minutes at a time with no end in sight, the timetable for when the Fed begins to cut rates is equally uncertain,” says Greg McBride, CFA, Bankrate’s chief financial analyst.

While the Fed bases its decisions on rate changes due to broader economic factors, your rate is also affected by personal finances. Depending on your credit score, down payment, debts and income, you could be quoted a rate that’s higher or lower than the trend.

What today’s rates mean for you and your mortgage

Mortgage rates fluctuate daily, but it appears that, for now, they will remain above the historical lows of recent years. If you’re shopping for a mortgage, it might be wise to lock your rate when you find an affordable loan. If your house-hunt is taking longer than anticipated, revisit your budget so you’ll know exactly how much house you can afford at current market rates.

You could save serious money on interest by getting at least three loan offers, according to Freddie Mac research. You don’t have to stick with your bank or credit union, either. There are many types of mortgage lenders, including online-only and local, smaller shops.

“All too often, some [homebuyers] take the path of least resistance when seeking a mortgage, in part because the process of buying a home can be stressful, complicated and time-consuming,” says Mark Hamrick, senior economic analyst for Bankrate. “But when we’re talking about the potential of saving a lot of money, seeking the best deal on a mortgage has an excellent return on investment. Why leave that money on the table when all it takes is a bit more effort to shop around for the best rate, or lowest cost, on a mortgage?”

More on current mortgage rates

Methodology

Bankrate displays two sets of rate averages that are produced from two surveys we conduct: one daily (“overnight averages”) and the other weekly (“Bankrate Monitor averages”).

The rates on this page represent our overnight averages. For these averages, APRs and rates are based on no existing relationship or automatic payments.

Learn more about Bankrate’s rate averages, editorial guidelines and how we make money.

Source: bankrate.com

Apache is functioning normally

Mortgage rates were mostly higher versus last week, according to rate data collected by Bankrate. Average rates for 30-year fixed, 15-year fixed and jumbo mortgages moved higher, while 5/1 ARM rates decreased.

Inflation has cooled somewhat, but homebuyers are still feeling crunched by high prices and rates. At the close of the Fed meeting on June 12, policymakers chose to hold rates at current levels.. The next Fed meeting concludes July 31.

“With [the June 12] announcement, the Fed confirms its higher-for-longer position on interest rates,” says Dr. Selma Hepp, chief economist at CoreLogic. “But the stance is looking more untenable as more American households continue to pull back on spending. As more economic indicators begin to confirm this and unemployment begins to rise, the Fed will then look to cut rates. What’s not clear yet is when exactly the disinflation signs will be consistent enough for the first rate cut — we hope it’s still this year.”

Often, though, the decision to buy a home isn’t based on what’s happening in the economy — it’s more personal. Depending on your situation, it might make sense to take a higher rate now and refinance later. This way you can start building equity, rather than hoping for a future of more favorable rates and home prices that might not materialize.

Rates last updated July 5, 2024.

The rates listed above are Bankrate’s overnight average rates and are based on the assumptions indicated here. Actual rates displayed within the site may vary. This story has been reviewed by Suzanne De Vita. All rate data accurate as of Friday, July 5th, 2024 at 7:30 a.m. ET.

Today’s 30-year mortgage rate goes up, +0.08%

The average rate for a 30-year fixed mortgage for today is 7.08 percent, an increase of 8 basis points over the last seven days. Last month on the 5th, the average rate on a 30-year fixed mortgage was lower, at 7.05 percent.

At the current average rate, you’ll pay $670.68 per month in principal and interest for every $100,000 you borrow. That’s up $5.38 from what it would have been last week.

The 30-year mortgage is the most popular home loan, and it has a number of advantages. Among them:

  • Lower monthly payment: Compared to a shorter term, such as 15 years, the 30-year mortgage offers lower, more affordable payments spread over time.
  • Stability: With a 30-year fixed mortgage, you lock in a set principal and interest payment, making it easier to plan your housing expenses for the long term. Remember: Your monthly housing payment can still change if your homeowners insurance premiums and property taxes go up or, less likely, down.
  • Buying power: With lower payments, you might qualify for a larger loan amountor a more expensive home.
  • Flexibility: Lower monthly payments can free up some of your monthly budget for other goals, like building an emergency fund, contributing to retirement or college tuition, or saving for home repairs and maintenance.

Learn more: What is a fixed-rate mortgage and how does it work?

15-year mortgage rate moves up, +0.06%

The average rate for the benchmark 15-year fixed mortgage is 6.53 percent, up 6 basis points over the last seven days.

Monthly payments on a 15-year fixed mortgage at that rate will cost roughly $873 per $100,000 borrowed. That may squeeze your monthly budget than a 30-year mortgage would, but it comes with some big advantages: You’ll save thousands of dollars over the life of the loan in total interest paid and build equity much faster.

5/1 ARM moves down, -0.07%

The average rate on a 5/1 adjustable rate mortgage is 6.52 percent, falling 7 basis points from a week ago.

Adjustable-rate mortgages, or ARMs, are mortgage terms that come with a floating interest rate. To put it another way, the interest rate will change at regular intervals, unlike fixed-rate mortgages. These loan types are best for those who expect to sell or refinance before the first or second adjustment. Rates could be materially higher when the loan first adjusts, and thereafter.

While borrowers shunned ARMs during the pandemic days of super-low rates, this type of loan has made a comeback as mortgage rates have risen.

Monthly payments on a 5/1 ARM at 6.52 percent would cost about $633 for each $100,000 borrowed over the initial five years, but could ratchet higher by hundreds of dollars afterward, depending on the loan’s terms.

Current jumbo mortgage rate moves upward, +0.04%

Today’s average rate for jumbo mortgages is 7.14 percent, an increase of 4 basis points over the last week. Last month on the 5th, the average rate on a jumbo mortgage was higher at 7.16 percent.

At the current average rate, you’ll pay a combined $674.73 per month in principal and interest for every $100,000 you borrow. That’s an additional $2.70 per $100,000 compared to last week.

Mortgage refinance rates

Current 30 year mortgage refinance rate climbs, +0.12%

The average 30-year fixed-refinance rate is 7.11 percent, up 12 basis points compared with a week ago. A month ago, the average rate on a 30-year fixed refinance was lower at 7.08 percent.

At the current average rate, you’ll pay $672.71 per month in principal and interest for every $100,000 you borrow. That’s up $8.08 from what it would have been last week.

Where are mortgage rates going?

The rates on 30-year mortgages mostly mirror the 10-year Treasury yield, which changes with the market. The yield curve is a tool used by investors to predict where interest rates could be headed.

“The yield curve remains inverted — no surprise here,” says Ken Johnson of Florida Atlantic University. “Until the yield curve reverts to its normal upward slope, we will not see significant downward pressure on mortgage rates.”

Besides bond yields, the Federal Reserve’s key benchmark rate also has an impact. The Fed has held this rate at a 23-year high since July 2023.

If and when the Fed cuts interest rates depends on evolving economic data, such as inflation and the jobs market. While inflation has dropped from its height in 2022, it’s still well above the Fed’s target rate of 2 percent. Unemployment is still low, though in May it hit 4 percent for the first time since 2022.

“Much like that flight where departure keeps getting delayed 15 minutes at a time with no end in sight, the timetable for when the Fed begins to cut rates is equally uncertain,” says Greg McBride, CFA, Bankrate’s chief financial analyst.

While the Fed bases its decisions on rate changes due to broader economic factors, your rate is also affected by personal finances. Depending on your credit score, down payment, debts and income, you could be quoted a rate that’s higher or lower than the trend.

What current rates mean for you and your mortgage

Mortgage rates fluctuate daily, but it appears that, for now, they will remain above the historical lows of recent years. If you’re shopping for a mortgage, it might be wise to lock your rate when you find an affordable loan. If your house-hunt is taking longer than anticipated, revisit your budget so you’ll know exactly how much house you can afford at prevailing market rates.

Keep in mind: You could save thousands over the life of your mortgage by getting at least three loan offers, according to Freddie Mac research. You don’t have to stick with your bank or credit union, either. There are many types of mortgage lenders, including online-only and local, smaller shops.

“All too often, some [homebuyers] take the path of least resistance when seeking a mortgage, in part because the process of buying a home can be stressful, complicated and time-consuming,” says Mark Hamrick, senior economic analyst for Bankrate. “But when we’re talking about the potential of saving a lot of money, seeking the best deal on a mortgage has an excellent return on investment. Why leave that money on the table when all it takes is a bit more effort to shop around for the best rate, or lowest cost, on a mortgage?”

More on current mortgage rates

Methodology

Bankrate displays two sets of rate averages that are produced from two surveys we conduct: one daily (“overnight averages”) and the other weekly (“Bankrate Monitor averages”).

The rates on this page represent our overnight averages. For these averages, APRs and rates are based on no existing relationship or automatic payments.

Learn more about Bankrate’s rate averages, editorial guidelines and how we make money.

Source: bankrate.com

Apache is functioning normally

Quick menu

Create unforgettable spaces with the best interior design software. Whether you’re a professional interior designer or a home design enthusiast, these are the top tools for bringing 2D and 3D spaces to life. 

Our expert team of reviewers have tested the best architecture software or the best 3D modeling software, so we know what you want to check out when choosing your next interior design app, and which ones really measure up. 

best landscape design software for crafting eye-catching exterior spaces. 

The best interior design software of 2024 in full:

Why you can trust TechRadar

We spend hours testing every product or service we review, so you can be sure you’re buying the best. Find out more about how we test.

Below you’ll find full write-ups for each of the entries on our best interior design software list. We’ve tested each one extensively, so you can be sure that our recommendations can be trusted.

The best interior design software overall

(Image credit: Floorplanner)

Best interior design software overall

Specifications

Operating system: Browser

Plan: Free, Subscription

Reasons to buy

+

Free plan available

+

Intuitive and easy to use

+

Broad use from interior designers to real estate

+

Numerous customization options

Reasons to avoid

–

Some limitations with the free account

–

No desktop app

Floorplanner is an online interior design app for individuals and companies, letting you redesign everything from a single room to an entire floor, or even a whole building. You can also plan out how your furniture will fit in your new home. 

This is a web-based home interior design tool, so you can achieve dazzling designs through the browser. There’s also online collaboration for editing and presenting projects in the cloud.

In our hands-on review, we felt the best home design software “is an excellent online service, designed to help you create rooms and furnish them with great accuracy. Working with it is fluid and easy, and we didn’t observe any discernible glitches. The fact there’s a free option means many amateur designer will happily use it to configure a room, but there are limitations to that option.”

Working in Floorplanner is fluid and simple – allowing you to create and furnish rooms with real accuracy. Best of all, if your needs are modest, using the program is free. 

That makes it ideal for amateur designers or those learning the art of interior design. If you find the free account too limiting, there are several subscription options available to you. Business pricing starts at $59 a month for teams. Individual pricing starts at $5. You’ll also find a credit system. As you earn credits, you can unlock extra features not typically associated with your plan.

It’s all browser-based designing, however, so needs a constant inter connection. There is an Android app available, but this is designed for presenting designs created on the website. 

Read our full Floorplanner review.

The best interior design software for architects

(Image credit: Chief Architect)

Best interior design software for architecture

Specifications

Operating system: Windows, macOS

Plan: Subscription, Perpetual license

Reasons to buy

+

Easy to learn 

+

Multi-platform

+

Limitless possibilities

Reasons to avoid

–

Can appear daunting at first

–

3D views don’t always respond as expected

Home Designer Suite delivers professional-style interior design software – which makes it powerful but also increases the learning curve. It’s not too steep as to be unnavigable, although it might overwhelm first-timers. Stick with it.

If you’re looking for meticulous planning, precise editing and customizing tools, and everything else, right down to the material required for specific jobs, this is the best interior design software for you. 

We praised the home design software in our review for its “highly detailed customisation options while at the same time, automating many processes to ease the creation process. It’s a great balance that help you create detailed environments quickly and easily.”

The interior design program is very full featured. You have full control over pretty much everything, including landscaping your dream garden. Despite its apparent complexity, there are many automatic tools that do a lot of the work for you, enabling you to focus on the details, to turn a design into a house.

Available for both Mac and Windows, you have in your digital hands everything you need to build the home of your dreams.

Read our full Home Designer Suite review.

The best interior design software for indoor/outdoor spaces

(Image credit: NCH Software)

Best interior design software for indoor and outdoor spaces

Specifications

Operating system: Windows, Mac

Plan: Subscription, Perpetual license

Reasons to buy

+

Easy to use

+

Multi-platform

+

Work on multiple levels

+

Can easily import 3D objects

Reasons to avoid

–

Not all objects installed initially

–

Occasionally awkward navigation

DreamPlan is the best home design software if you want powerful tools and simplicity of use. 

The interior design program, out for Windows and Mac, helps you create buildings on multiple levels, furnish them with a library of 3D models, and customize homes inside and out. Yes, that even includes landscape design. It’s built to let you easily make modifications and alterations.

But, in our review, what we really liked about one of the best home design software tools is that it’s “designed to make it easy to make modifications, and even goes out of its way to help you understand the app’s inner workings.”

Trace Mode will be especially handy for those with existing floorplans. These can be imported into the home design software and turned into a 3D model.   

DreamPlan features commercial and home licensing options – priced at $50 and $40 respectively, but check for regular discounts. So, it has a powerful enough toolset to use on a professional basis. But it’s intuitive enough for beginners. 

For those just starting out with the best interior design software, the built-in video tutorials help you understand the inner workings of the app – just look for the subtle blue camera icon. 

Read our full DreamPlan review.

The best browser-based interior design software

(Image credit: Dassault Systemes)

The best interior design app when you’re on-the-go

Specifications

Operating system: Browser, Android, iOS

Plan: Free, Subscription

Reasons to buy

+

Simple to use

+

Huge customisation

+

Can design an entire house for free

Reasons to avoid

–

3D pan can make some objects temporarily disappear

–

Long rendering times for low res photorealistic images 

HomeByMe is one of the best interior design apps for when the ideas are racing. It’s browser-based – even mobile browsers are supported – and has Android and iOS apps, so you can map out thoughts for your home whenever and wherever inspiration strikes.

Since the interior design tool is cloud-only, you’ll need to stay connected to use it. During our time with the home design software, we were impressed that “HomeByMe offers a very affordable service with a myriad of options. We particularly appreciated the fact that the free plan doesn’t appear to limit your design options, and lets you work on up to three different projects.” 

However, we were less impressed with the time it took to render low-res images. Worse, we found the free account pastes a giant watermark all across the image, rendering the effect pointless. HD images are rendered in minutes, and don’t have that watermark.

The platform offers three packages: free, one-time purchase, and monthly subscription. It’s a good way to see which works for you, as the free plan doesn’t appear to limit your design options, and lets you work on up to five projects. 

The limit on the number of HD photorealistic images (1920x1080px) is somewhat compensated by offering an unlimited number of lower quality ones (640x360px). You can also place real-world, branded products in your rooms for extra realism. 

HomeByMe has a lot to offer. If you’re not too fussed about those images, you can explore and create very complex designs with ease.

Read our full HomeByMe review.

The best interior design software for mobile

(Image credit: MagicPlan)

Best interior design software for Android and iOS

Specifications

Operating system: Browser, Android, iOS

Plan: Subscription

Reasons to buy

+

Easy to use

+

Free mobile app

+

Two free projects

+

Professional Report and Estimate tools

Reasons to avoid

–

AR appears to struggle when furniture is in the way

–

No desktop app

MagicPlan is one of the best interior software kits for busy creatives and contractors. 

When we reviewed the home design app, we liked its “easy to use features, an interesting AR option, and an original way of generating estimates for work needed to be done. The monthly subscriptions could pay for themselves if designing if your business, and it also offers you two free projects for casual users to explore as well.” 

Like HomeByMe, it lets you build designs from your browser, or within the Android and iOS apps. The free solution lets you design two projects. A monthly subscription is needed to unlock MagicPlan’s full capabilities.

You’ll find three tools in one: Sketch, Report, and Estimate. Essentially, tiered subscription packages that offer additional features. 

Sketch lets you create interior designs – and, for home users, that’s likely enough. Professional designers will appreciate the inclusion of reporting and estimating tools. Enterprise licensing is also available. 

One of the best interior design software tools here is the AR-enabled ‘Scan with Camera’. This lets you scan and measure the room you’re in – although we suspect this augmented reality feature would function a lot better in an unfurnished space. 

Read our full MagicPlan review.

Best interior design software: FAQs

What is interior design software?

best 3D printers. 

Time is a considerable factor. Even some of the best interior design software takes a long time to render concepts, especially when using photorealistic images. It’s a natural price to pay for high-resolution 3D designs. For some, speed may trump quality.

Check the system requirements for the software  In certain cases, highly professional interior design computer programs require high-performance computers. In this case, you may need a machine comparable to the best laptops for architecture students or the best laptops for engineering students.  These are build to smoothly run complex CAD designs. 

Check the price (and pricing model), too. Some options, like HomeByMe, offer free, paid-for, and subscription versions of its home design software. Others offer only one pricing model, so choose the one that best suits your creative budget.

How we test the best interior design software

We’ve tested a massive range of creative apps, including the best digital art and drawing software and the best graphic design software. But whether we’re testing out the top tools for 3D design or the best software for interior decorating, we follow the same fair and rigorous review process. 

When testing the best interior design software for homes, we’re looking to see how easy the experience is, how powerful the tools are, and how well the software performs. Designing in 3D can often take its toll on computers, after all. 

Asset library sizes are a factor — interior design tools should make your creative ideas a reality, not just a loose approximation. We’re also reviewing these design apps based on use. Unlike consumer software, professional-grade tools offer more advanced features, but might also have steeper learning curves and more expensive pricing models. So, we assessed how well the interior design program delivers for its intended market – whether they’re professionals or personal users. 

Essentially, when we test the very best interior design software for ourselves, we expect to see it work for its intended audience — whether they’re professional interior designers or creative enthusiasts. 

During our tests across the best home design software tools, we first set up an account with the relevant software platform, whether as a download or online service. We then tested each app using a handful of files to see how the software for interior design could be used for creating indoor spaces from scratch, bearing in mind issues such as ease-of-use, professional viability, and performance.

Get in touch

Source: techradar.com

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We may earn revenue from the products available on this page and participate in affiliate programs.

Home Front is a twice-weekly deep dive into the rising—and returning—trends, decor, and teeniest of design details fresh on our radar. Last week, Sam, Domino’s managing editor, looked back at her whirlwind work trip to Denmark.

Subscribe now to get the next Home Front newsletter, and read the full edition here.

“I don’t know what they’re going to do about the name.” This was the chorus I heard again and again last week while I was in Copenhagen for the annual 3 Days of Design festival. With over 400 exhibitions this year (50 percent more than in 2023!), 3 Days has started to look a lot more like 4 or 5, with previews beginning a day early and parties proliferating into the weekend. With the expansive mix of heritage brands and startups, plus a growing international presence, it was impossible to visit every showroom and store in 72 hours. But whether by boat, taxi, bike, or on foot, I hightailed it to as many exhibitions as possible—here’s my recap.

On Board: Danish Download

  1. NYC-based Ladies & Gentlemen Studio presented its Altostratus lighting collection, made with a mix of textured and silky-smooth Kvadrat textiles, in Danish designer Signe Hytte’s group show, Enter the Salon. Appropriately cloudlike!
  2. At Rue Verte, I poked around Faye Toogood’s Assemblage 8 installation of new pieces, which included a mossy-hued Gummy chair and lilac-adorned Palette table. Linde Freya Tangelder, founder of Antwerp-based Destroyers/Builders, was also showing her lacquered furniture, which she revealed is actually made of wood (!).
  3. German designer Sebastian Herkner was everywhere, but I most love his work with Kaufmann Keramik, the newest of which is the Yuma ceramic bench, which can curve around a stove or fireplace.
  4. Pinch took over the Mark Kenley Domino Tan store near the picturesque Nyhavn waterfront district to present its latest additions to its cocoonlike sofa system. Would have taken a nap in the armchair if my schedule allowed.
  5. At Framing, a curated group exhibition of brands held at Odd Fellow Palace, I spotted several reissues of rugs by designer Eileen Gray. As a former museum worker, I was drawn to the geometric De Stilj, named after a Dutch art movement in the early 20th century.
  6. The newly formed Objective Studies platform brought together several designers in a small showcase in the Østerbro neighborhood. Juhl & Lange’s basketry and Sébastien El Idrissi’s Stack planter both stayed with me. Simple and functional, yet in elegant forms. 
  7. I will be enrobing my bed in the new Tekla x Artek collection, which is splashed in Aino Aalto’s Kirsikankukka pattern. It was originally inspired by a scarf she was gifted by the Japanese ambassador to Finland.
  8. Everyone was ogling a fuzzy desk at the House of Nordic Design, but I couldn’t stop staring at Swedish designer Gustav Carlberg’s perforated steel Skir chair. 
  9. I wish I had the time to make the trek to Salem Charabi’s studio exhibition, A Thousand Moons, which featured 38 pieces of furniture crafted over a two-year period for a single residence.
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Source: domino.com

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This morning’s most notable scheduled event and biggest potential market mover was the release of May’s PCE price index, the Fed’s favorite inflation metric. Indeed the biggest volume spike and most directional movement of the day followed that data faithfully, helping yields move to the lowest levels of the past 3 days.  But things changed a short while later with a reasonably big sell-off to the highest yields of the week, all without any overt justification in terms of data or new news.  Combine it with the fact that Treasury performance is vastly different across the yield curve and this is a classic symptom of month/quarter-end trading.

To visualize the yield curve movement mentioned above, consider a chart of10yr and 2yr yields with equal y axes. Note the 10yr spiking much quicker than 2s during this morning’s sell-off.

Some smart people are considering the possibility that bonds are reacting to the presidential debate and that the improved odds of a Trump victory somehow precipitated this selling.  In our view, that’s hard to justify considering the random mid-morning timing despite an absence of similar trading earlier in the day.  It’s not as if traders changed their minds about the debate implications during this time.  On the other hand, it lines up quite well with past examples of month/quarter end trading on Fridays.

What does this mean for the future?  Nothing.  It’s just an explanation of this morning’s otherwise perplexing volatility.

Source: mortgagenewsdaily.com

Apache is functioning normally

Mission Score Execution, Pet-Centric Marketing, Website Compliance Tools; STRATMOR on Refi Biz; Webinars and Events

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Mission Score Execution, Pet-Centric Marketing, Website Compliance Tools; STRATMOR on Refi Biz; Webinars and Events

By:
Rob Chrisman

Thu, Jun 27 2024, 11:55 AM

“What did people from the Midwest call a small can of pop? A Minnesota.” (Say it out loud to your 3rd grader.) While we’re on a “pop,” lenders in the nation’s midsection are cheering the numbers as large cities in the Northeast and Midwest popped in 2023, reversing earlier population declines, according to Vintage 2023 Population Estimates from the U.S. Census Bureau. The South still rocks, however. Cities with populations of 50,000 or more grew by an average of 0.2 percent in the Northeast and 0.1 percent in the Midwest after declining an average of 0.3 percent and 0.2 percent, respectively, in 2022. Those in the West went up by an average of 0.2 percent from 2022 to 2023. Cities in the South grew the fastest, by an average of 1.0 percent, and 13 of the 15 fastest-growing cities were in the South, with eight in Texas alone. (Today’s podcast is found here and this week’s is sponsored by Candor. Candor’s authentic Expert System AI has powered more than 2 million flawless, hands off underwrites. Every credit risk decision Candor makes is backed by a warranty, eliminating repurchase worries. Hear an interview with American Pacific’s Bill Lowman on motivating people, change management during M&A, and retaining origination staff.)

Software, Products, and Services for Lenders and Brokers

With Truv, Revolution Mortgage saves 70 percent on verifications (+5 BPS savings per loan). What does Femi Ayi, EVP Operations, Revolution Mortgage, have to say about Truv? “Since we started our partnership, we’ve taken our costs for verifications from 8 basis points per loan down to 3 basis points per loan.” Truv has helped hundreds of lenders, from the biggest banks, IMBs, and Credit Unions, to the smallest, greatly improve their income, employment, asset, and insurance verifications strategy. You could be one of them: Get started!

ActiveComply, a leader in social media monitoring and virtual office inspections for the financial industry, recently announced that it has officially launched its highly anticipated website monitoring tool: WebCompass. WebCompass will automatically Discover custom employee websites, co-marketing pages, corporate websites, blog posts, news articles, event pages, and other brand mentions. Similar to ActiveComply’s social media monitoring tool used by many institutions today, ActiveComply’s WebCompass tool will not only monitor for compliance and brand reputation concerns, but will also scan for ADA compliance, SEO scoring, provide automated archival to meet record retention requirements, and more. WebCompass is leveraged by financial institutions for ongoing monitoring of corporate and employee-controlled websites alike. Learn more about managing your compliance confidently with ActiveComply or schedule a demo today to see real findings for your institution.

“PDF Insights and Thumbprint® are a powerful combination that helps lenders streamline their loan analysis, speed up their underwriting, and enhance fraud prevention, helping them get to “Yes” or “No” faster and more confidently. Our product is well-suited for alternative mortgage and commercial lenders who rely on bank statements to underwrite loans. MoneyThumb’s tools are faster, more accurate, and significantly lower cost than other solutions. Plus, our customer service is second to none and we don’t require contracts. PDF Insights is a comprehensive financial document evaluation and data extraction tool that enables mortgage lenders to process and analyze hundreds of pages of bank statements accurately and in under 5 seconds. Our patent-pending fraud detection tool, Thumbprint®, uses AI algorithms and machine learning to evaluate and score the authenticity of PDF bank statements. Each document is given a fraud score from 1 to 1000 that indicates the likelihood of fraud.”

Picture this… your borrower completes their mortgage application and shortly after, receives a text asking if they have any pets. When the loan closes, their furry friends get a welcome package including new customized pet tags featuring your brand. The best part? Operation Fido runs automatically from Encompass® by ICE Mortgage Technology™ and you don’t even have to lick the envelope! What would you spend to deliver that kind of joy to your borrower?

STRATMOR on Preparing for the Tough-to-Find Refis

“Rising tides lift all boats.” And many lenders believe that the next wave of refinances will be the surge they need to lift their business back above water. However, some of them may be wrong. In STRATMOR Group’s June Insights Report Senior Partner Garth Graham explains why. “The latest industry forecast predicts a rising tide of refinancing, but there are reasons that the coming wave, when it appears, will be very different from the past,” says Graham. “The typical mortgage banking firm has been taking on water, with the industry showing losses for eight quarters. Many have been selling off servicing rights and stopped retaining servicing on new production because they need the cash. This will put them at risk because while having the cash is good, it also means you have likely sold off the client relationship and the potential refinance when the rate drops in the future.” Check out STRATMOR’s June InFocus article, “Why a Refi Wave Won’t Save Every Lender and How to Prepare,” for more from Garth on what smart lenders are doing now to ensure they survive and thrive when the market improves.

Events, Training, and Webinars

A good place for longer term conference planning is to start is here for in-person events in the future.

Today will be another episode of The Big Picture at 3PM ET… Rich Swerbinsky is interviewing Tabrasa’s Bill Bodnar about the economy and its impact on lenders

Join A&D Mortgage today for an exclusive webinar designed for mortgage brokers and broker owners. Titled “Next-Level Brokerage: Harnessing the Power of Self-Securitizing Lenders,” this session, in collaboration with Jared Neale, Associate at Imperial Fund, will explore the significant benefits of partnering with self-securitizing lenders. Discover how these partnerships can streamline your operations, enhance service offerings, and drive business growth.

Tonight, in San Francisco, CAMP presents, “An Evening with Rob Chrisman.” It should be a fun, informal event if you’re in the area!

Tomorrow, Friday the 28th, will see an episode of The Mortgage Collaborative’s Rundown with Melissa Langdale and me covering current events in the mortgage market for 30 minutes starting at noon PT, 3PM ET. Tomorrow features Dan Cantinella, Chief Lending Officer for Total Expert.

Class Valuation is hosting a webinar on Friday, June 28, titled “Navigating New Reconsideration of Value (ROV) Requirements for Lenders.” Expert panelists will provide a clear and actionable guide to understanding what changes need to be made and how to make them. You will learn the impact of the new ROV guidelines on lenders, how the borrower-initiated ROV process works, and your responsibilities as a lender under the new guidelines.

Next week is July already…

National MI upcoming July 2024 webinar sessions. Leading a Team​​with Andrew Oxley – July 11th at 2pm ET. How to Plan and Attack the Week for Loan Officers with Dr. Bruce Lund – July 18th at 1pm ET. Become an Open House Success Partner​​​​​with Rebecca Lorenz – July 23rd at 1pm ET. Mortgage Industry Updates Impacting the Balance of 2024 and Beyond ​​​​​with Scott Weghorst, July 25th at 2pm ET.

Newrez Correspondent offers a comprehensive training curriculum on Newrez products and processes, to keep your staff informed of the latest developments in products, technology solutions, compliance issues and process improvements. Each of these programs is offered by its training and development staff on a monthly basis and is updated regularly to reflect recent changes in the industry.

Tuesday the 2nd at 11am PT, two veteran LOs discuss all things mortgage with Industry Leaders. Mortgage Pros 411 with Audrey Boissonou and Kevin Casey.

Now Next Later Mondays at 10 a.m. PT/1 p.m. ET (45 minutes). Hosted by Jeremy Potter and Sasha Stair. Now Next Later is a show intended to provoke thoughtful challenges to the assumptions and strategies common to the housing finance industry. The show believes that looking at the mortgage businesses from a different perspective is critical to staying ahead of constant changes. The show’s goal is to get to better answers by asking better questions. Join each week for new insight and perspective on some of the industry’s most persistent problems. The show includes expertise in product development, go-to-market, data analytics and innovation, and answers well to the high expectations we’ve set for ourselves and our colleagues.

The Last Word Fridays at 10 a.m. PT/1 p.m. ET with two of the following four hosts. Kevin Peranio, Brian Vieaux. The Last Word is your ultimate destination for incisive analysis and spirited discussions on the hottest topics affecting the mortgage sector each week. Hosted by industry veterans, the show delivers expert opinions, forecasts, and critical insights to keep you informed and ahead of the curve. The show offers a comprehensive and engaging analysis of the week’s most important mortgage industry news, providing viewers with the knowledge and insights they need to make informed decisions in a rapidly changing market.

SAVE THE DATE for NMMLA’s upcoming event, The current and future state of Digital Mortgages, on Wednesday, July 10 at 11:00 AM.

The Ultimate Mortgage Expo returns to New Orleans July 10 – 11 and it’s bigger and better than ever before. Join OCN in the beautiful and historic Hotel Monteleone for a jam-packed event featuring 2 days of sessions and 2 days of exhibition hall opportunity. Also, come earlier on July 10 to enjoy complimentary access to the Mortgage Star Conference for women. Enjoy free access to this can’t-miss event using the code OCNFREE.*

MSR holders know that a great subservicing relationship can help reduce costs, lower delinquency rates, and improve borrower relationships. But the fear of a rocky transfer process keeps many from realizing all these benefits. Join Servbank’s cohosted webinar with the Mortgage Bankers Association on July 11 at 1-2p ET to learn how handling thousands of service transfers has gotten Servbank’s transfer plan down to a science. With a battle-tested plan and a laser-focus on customer experience, the painless service transfer is a reality. Register for the webinar today! The webinar is free for non-members by creating an account and entering the campaign code “SERVBANK100” at checkout.

Join ACES EVP, Nick Volpe and ACES President, Phill McCall on July 17, 11:00 AM – 11:45 AM PDT for a QC NOW webinar as they take a deeper dive into these analytics and how it aligns with the current state of the industry and how to best navigate through the volatile financial landscape.

Monday, 5 August 9:00 AM – Tuesday, 6 August at 6:00 PM PDT join the California Association of Mortgage Professionals on August 5th -August 6th for our Annual Summer CAMP at Hyatt Regency Newport Beach, 1007 Jamboree Road, Newport Beach, California.

Capital Markets

Have you heard about the Fannie Mae Mission Score product grids? MCT announced today that they are the first to integrate with the Mission Score API, which empowers originators to take advantage of market incentives for mission-oriented lending. “Fannie Mae changed the market in 2016 by bringing spec programs to the cash window,” said Phil Rasori, COO of MCT. “Now they have done it again by pushing the Mission Score pay-ups available on the securitization side toward front-end borrower pricing.” Learn how you can improve margins and price competitiveness in the upcoming webinar featuring Olga Gorodetsky, Director, Capital Markets at Fannie Mae as well as Phil Rasori of MCT.Pete Skarnulis, Single-Family Business Account Management Solutions – Vice President at Fannie Mae, shared, “through close partnership and collaboration with our industry partners, we’re able to introduce innovative solutions to the market at scale, helping to promote positive change across the mortgage industry.”

When I’m asked about the FHFA encouraging the “release” of Freddie Mac and Fannie Mae from conservatorship, I ask, name one government agency that voluntarily ceased operations. The Federal Housing Finance Agency (FHFA) released the latest report on the sale of non-performing loans (NPLs) by Fannie Mae and Freddie Mac (the Enterprises). The Enterprise Non-Performing Loan Sales Report includes sales information about NPLs sold through December 31, 2023. Borrower outcomes reflect NPLs sold through June 30, 2023. This report shows that the Enterprises sold 168,364 NPLs with a total unpaid principal balance (UPB) of $30.9 billion from program inception in 2014 through December 31, 2023. The loans included in the NPL sales had an average delinquency of 2.8 years and an average current mark-to-market loan-to-value (LTV) ratio of 83 percent (not including capitalized arrearages).

While chatter about the Fed and its decisions does have slight bearing on overall mortgage rate movement, events directly tied to the housing market are of arguably higher importance to readers of this commentary. We learned yesterday that the New Home Sales report for May missed expectations, coming in at 619k versus 650k expectations. New home sales fell 11.3 percent month-over-month to the weakest pace in six months as the new home market has softened recently alongside higher mortgage rates, increased availability of existing homes, and moderating economic growth.

Despite hawkish tones continuing to emanate from the Fed, Treasury security prices have rebounded recently due to bets that cooling prices will convince the Fed to cut rates sooner, and by more, than officials have signaled. More accommodative conditions are at odds with recent Fed rhetoric suggesting it’s still too early to consider policy easing. However, hope springs eternal, and investors continue to price in nearly two full 25 basis point rate cuts for the year, including a nearly 60 percent chance of a cut in September. As a reminder, the Fed’s latest dot-plot predicted one 25 basis point cut in 2024.

Today sees a busy calendar in terms of data and supply, and is already under way with the final look at Q1 GDP +1.4 percent (versus expectations of 1.1 percent), durable goods orders for May was +.1 percent (when it was supposed to be unchanged at +0.6 percent), weekly jobless claims (233k), and core PCE. Later today brings pending home sales for May, KC Fed manufacturing, several Treasury auctions that will be headlined by $44 billion 7-year notes (after yesterday’s solid $70 billion 5-year note sale), and Freddie Mac’s Primary Mortgage Market Survey. Before the open, Sweden’s Riksbank held rates steady, but forecast two to three rate cuts for later this year. We begin Thursday, after the salvo of numbers, with Agency MBS prices roughly unchanged from Wednesday’s close, the 10-year yielding 4.31 after closing yesterday at 4.32 percent, and the 2-year at 4.73.

Jobs and Transitions

This week, Lower, LLC announced the hiring of industry veteran Craig Montgomery in the role of Chief Strategy Officer. This move signifies a milestone moment in the company’s history as they have added another all-star industry leader to their executive team. In their release, Co-Founder & CEO Dan Snyder commented, “Getting someone with Craig’s experience and proven track record is a big win for the company.” Adding to the celebration, Randell Gillespie, Chief Production Officer for Lower, also commented, “Craig is a consummate pro with a reputation born from success and he is a stellar fit for the Lower community. Couldn’t be more thrilled for him to join our team!” When asked about his transition, Montgomery stated, “I’m so impressed by the Lower platform. I know what originators need to achieve the success they desire… and Lower has it.” Visit Join.Lower.Company for more information about “Life at Lower” and available growth opportunities.

“Join our family-owned Midwest lender as an Account Executive! Operating in 40+ states with a wide-open territory and unlimited growth potential. Ideal for seasoned mortgage pros, or those looking to break into Wholesale Sales. Enjoy competitive pay, benefits, and a supportive team environment. Develop new business opportunities, build strong client relationships, and deliver exceptional service. Interested? Please submit your confidential resume to Chrisman LLC’s Anjelica Nixt for forwarding.”

“Leadership changes for Chase Correspondent Lending! Chase Correspondent Lending is a relationship-driven, forward-looking investor focused on helping our clients and the communities we serve. Kim Salvo, our East Division Manager and a 33-year veteran of Chase, retired in May. We thank Kim for her years of service and wish her the best. With Kim’s departure, we’re excited to announce several changes to our Client Management Leadership team. Effective July 1, Tim Yezbick, current CFO for Correspondent Lending, will be our new East Division Manager. Lisa Plaien, current Director of Client Strategy & Support, will now lead our newly formed Central Division. Chris George will continue as our West Division Manager. Lisa, Tim, and Chris will report to our Head of Client Management, Bhavesh Patel. Please join us in congratulating our new leaders who will continue our commitment to providing a best-in-class experience for our clients. Visit us at www.chaseb2b.com.”

(Remember: employers can view posted resumes for several months for a nominal charge and job seekers can post their resumes for free on www.lendernews.com.)

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Source: mortgagenewsdaily.com