Month: April 2018

Rates for home loans surged on strong economic data, taking the benchmark rate to its highest point so far this year.

The 30-year fixed-rate mortgage averaged 4.47%, according to Freddie Mac’s weekly survey, out Thursday. That was five basis points higher than in the previous week, and the highest for the popular mortgage product since January 2014. The 15-year fixed-rate mortgage averaged 3.94%, up from 3.87%. The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.67%, up from 3.61% last week.

Those rates don’t include fees associated with obtaining mortgage loans.

Mortgage rates generally follow the path of the 10-year U.S. Treasury noteTMUBMUSD10Y, +0.29%  yield, which has started to recover after being battered by trade war fears a few weeks ago.

Stronger economic data and hints of firmer inflation, which would erode the value of fixed-income assets, have weighed on bond prices, which move inversely to yields. Investors are also warming to stocks, rather than bonds, after a batch of strong corporate earnings results.

Read: 10-year Treasury yield hits highest in four weeks; yield curve remains a focus

Conditions in the housing market are more muddled. Demand is much stronger than supply, pushing prices up and forcing buyers to make tough decisions.

But concerns about rising rates aren’t dampening buyer enthusiasm. Data provided to MarketWatch by the Mortgage Bankers Association shows that applications for purchase mortgages have been higher in every week of 2018 than last year. For the year to date, applications have been, on average, 5.9% higher than in 2017, even though the 30-year fixed-rate mortgage has been, on average, 19 basis points higher during that time.

Read: That apartment building boom is slowing — so rent is about to accelerate

First renderings have been posted for the Domino Sugar factory as reported by 6sqft.com.
POSTED ON THU, APRIL 5, 2018 BY DANA SCHULZ

Almost a year to date since the first renderings were revealed for Domino Park, the 11-acre park and waterfront esplanade that will anchor the three-million-square-foot Williamsburg mega-development at the Domino Sugar Factory site, a new batch of views has been released by developer Two Trees, and they showcase everything from an urban “beach” to a better look at how preserved artifacts from the historic factory will be incorporated throughout. Designed by James Corner Field Operations (of the High Line fame), the park is scheduled to open this summer, ahead of most of the buildings. more “REVEALED: New renderings of Domino Sugar Factory’s waterfront park and esplanade” …

Eyeball ODA’s Design for 63 Condos Replacing Brooklyn Church as noted on Brownstoner .Too bad the church wasn’t land marked 🙁

The modern apartment building that will replace Boerum Hill’s historic Church of the Redeemer at 24 4th Avenue is a trademark ODA design that nonetheless manages to bring a fresh look to the busy corner close to Barclays Center. Like many ODA designs, it is a variation on the theme of assemblages of boxes.

The design is trompe l’oeil: The brick appears to be a continuous 2-D surface that seems to fall away at the edges with nothing behind it. Windows are framed by shadow boxes.

Stained, not painted, garage doors made of strips of wood and ground-floor shops with big windows will likely make the building pleasant to walk by at the street level.

The rendering was first published by NY YIMBY Wednesday.

The 12-story mixed-use building will include 63 apartments as well as community and retail space. There will be underground parking for 16 cars and 32 bicycles, as well as a lounge, laundry, storage, a dog spa, and exercise facilities in the cellar, the Schedule A reveals. Outdoor recreation areas are planned for the roof, second floor and, surprisingly, the cellar. more “Here’s What Will Replace Boreum Hill’s Historic Church of the Redeemer” …

Normally I stay local – but here’s an interesting price on the changing  face of the real estate market and more short term rentals. Not only in residential but in commercial leasing too.

Reported by White & Case.

more “Changing face of the real estate market” …