MBS RECAP: Uncommonly Calm Month-End Day; Bigger Events Coming Up

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Posted to: MBS Commentary
Tuesday, July 31, 2018 5:36 PM

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Today ended up being all about bond markets reacting positively to last night’s Bank of Japan (BOJ) announcement. In a nutshell, they just did one of those “lower for longer” statements that have become a mainstay of post-crisis central banking. Japanese yields fell and Treasuries reluctantly followed–emphasis on reluctance.

As soon as the initial rally was over, Treasuries set about returning to previous levels and came within 1.3bps by the end of the day. Actually they came within 1.3 bps early in the morning, but then traded sideways for the rest of the…

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More from MND:

• Mortgage Rate Watch: Mortgage Rates Edge Lower; Volatility Potential Remains
• MND NewsWire: Congress Votes to Keep Flood Insurance on Life Support for 4 More Months
• MND NewsWire: Will We Be Ready When Boomers Exit Homeownership?
• MND NewsWire: Home Price Gains are Beginning to Hurt Sales
• MBS Commentary: MBS Day Ahead: "Japan Effect" Tested; Torch Passed to Month-End

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Daily Newsletter: Home Price Gains Starting to Hurt Sales; Flood Insurance Life Support; When Will Boomer Exodus Begin?

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30 Year Fixed 4.72% -0.01 15 Year Fixed 4.19% -0.01 10YR Treasury 2.96% -0.0130 FNMA 30YR 3.5 99.11 +0.11 FNMA 15YR 2.5 99.08 +0.05 View Today’s Rates

Tuesday July 31, 2018 MND NewsWire – 10:13AM Home Price Gains are Beginning to Hurt Sales The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index put on a repeat performance for May. The index, which covers all nine U.S. census divisions, was up 6.4 percent … MND NewsWire – 4:31PM Will We Be Ready When Boomers Exit Homeownership? Baby Boomers, the largest generation of Americans in history until the Millennials came along, have influenced the country since their birth and have created what could be described … MND NewsWire – 4:35PM Congress Votes to Keep Flood Insurance on Life Support for 4 More Months Congress has once again snatched the National Flood Insurance Program (NFIP) away from its scheduled demise while setting the stage for needing to do it again. The program, which was … Mortgage Rate Watch – 5:08PM Mortgage Rates Edge Lower; Volatility Potential Remains Mortgage rates fell modestly today, bringing them back in line with last Friday’s levels. Most of the inspiration for the improvement came from overnight developments in Japan, where … MBS Day Ahead: "Japan Effect" Tested; Torch Passed to Month-End Digital Products; Legal News and Lawsuits; Layoffs and Promotions Latest Video CNBC Fed Survey: 83% say Trump’s comments on Fed policy are inappropriate CNBC Fed Survey: 90% see September rate hike Santelli Exchange: Central bank balance sheets More News from ‘Around the Web’ Calculated Risk Blog – 3:26PM Real House Prices and Price-to-Rent Ratio in May http://www.realtor.com – 3:25PM Young People Don’t Want Construction Jobs. That’s a Problem for the Housing Market. Bloomberg – 11:47AM US, China Said to Aim to Restart Talks to Defuse Trade War Bloomberg – 11:21AM US Employment Costs Increase From Year Ago by Most Since 2008 CNBC – 10:35AM Rising Risks: More intense flash floods hit overdeveloped real estate, destroying small-town America CNBC – 10:05AM Consumer confidence hits 127.4 in July, vs. 126.5 estimate Calculated Risk Blog – 9:09AM Personal Income increased 0.4% in June, Spending increased 0.4% Reuters – 8:33AM China’s July manufacturing growth slows on trade dispute, softer domestic demand Reuters – 8:06AM Fed set to hold interest rates steady, remains on track for more hikes Reuters – 8:04AM Bonds gain, yen falters as BOJ pledges to keep rates low Today’s Rates Best Execution Rate Change Current Mortgage Rates » What are best-execution rates? 30 Yr FRM 4.72% -0.01 15 Yr FRM 4.19% -0.01 FHA 30 Year Fixed 4.42% +0.00 Jumbo 30 Year Fixed 4.50% -0.01 5/1 Yr ARM 4.00% -0.01 Average Mortgage Rates Rate Points Change FHFA * 15 Yr. Fixed 3.65% 1.14 +0.09 30 Yr. Fixed 4.19% 1.21 +0.02 MBA ** 30 Yr. Fixed 4.68% 0.46 -0.01 15 Yr. Fixed 4.12% 0.51 +0.05 30 Yr. Jumbo 4.55% 0.37 +0.00 30 Yr. FHA 4.69% 0.81 -0.04 5/1 ARM 3.83% 0.68 -0.10 Freddie Mac ** Current Mortgage Rates » * FHFA averages are updated monthly. ** Mortgage Bankers Association (each Wednesday) and Freddie Mac (each Thursday) averages are updated weekly. 30 Yr. Fixed 4.52% 0.40 -0.01 15 Yr. Fixed 4.00% 0.40 -0.02 1 Yr. ARM 2.68% 0.20 +0.01 5/1 Yr. ARM 3.87% 0.30 +0.01 Secondary Markets MBS Price Change 30YR FNMA 3.0 96.39 +0.11 30YR FNMA 3.5 99.11 +0.11 30YR GNMA 3.0 97.58 +0.02 30YR GNMA 3.5 99.92 -0.05 15YR FNMA 3.0 99.08 +0.05 15YR FNMA 2.5 96.77 +0.03 Treasuries Yield Change Current MBS / Treasury Prices » MBS and Treasury data provided by Thomson Reuters. Mortgage News Daily and MBS Live! are exclusive re-distributors of Real Time Thomson Reuters Mortgage Information. Secondary Marketing Managers: If you are interested in gaining access to the most accurate real-time back-month TBA indications from Thomson Reuters and Tradeweb. Request More Information 2 YR 2.6735% +0.0081 5 YR 2.8479% -0.0033 10 YR 2.9617% -0.0130 30 YR 3.0814% -0.0257 Prices as of: 7/31/2018 5:05PM EST

This information is not an advertisement to extend consumer credit as defined by Section 226.2 of Regulation Z. This is not an offer to enter into an agreement regarding interest rates. The rates quoted do not include discount points, origination points, or loan level risk based price adjustments. Rates and terms are subject to change without notice. © 2018 Brown House Media, Inc. All rights reserved. Brown House Media Inc. – 19706 One Norman Blvd – Cornelius, NC 28031

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Daily Rate Update: Mortgage Rates Edge Lower; Volatility Potential Remains

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30 Year Fixed 4.72% -0.01 15 Year Fixed 4.19% -0.01 10YR Treasury 2.96% -0.0130 FNMA 30YR 3.5 99.11 +0.11 FNMA 15YR 2.5 99.08 +0.05 View Today’s Rates

Mortgage Rates Edge Lower; Volatility Potential Remains July 31, 2018 Mortgage rates fell modestly today, bringing them back in line with last Friday’s levels. Most of the inspiration for the improvement came from overnight developments in Japan, where the country’s central bank doubled down on its commitment to keep easy money policies flowing for an extended period of time. In general, when large central banks commit to maintaining such policies, it’s good for interest rates. Last night was no exception, but much of the benefit went to Japan’s bond market (unsurprisingly) with US markets just getting a small token of the gains. It should be noted that by the time such news filters through to the world of mortgage rates, the improvements are barely detectable for the average borrower. Many mortgage seekers will be seeing the exact same quote compared to yesterday. Those who see better quotes will almost certainly still be seeing the same interest rate, but with marginally lower upfront costs (something around $100 for every $100k financed). From here on out the rest of the week is busier in terms of scheduled events that could impact rates. The potential for volatility is higher, culminating with Friday’s big jobs report. Bottom line: rates are already near the highest levels in more than 2 months, but if the incoming economic data isn’t ‘rate-friendly,’ they could keep moving higher. Loan Originator Perspective Bond markets posted small gains today as traders eyed tomorrow’s Fed Statement and Chairman Powell press conference. Today’s inflation data was slightly below expectations, which boosts bonds. I don’t expect any surprises tomorrow, and will continue locking sooner rather than later. –Ted Rood, Senior Originator Today’s Most Prevalent Rates 30YR FIXED – 4.625-4.75 FHA/VA – 4.25-4.5% 15 YEAR FIXED – 4.125% 5 YEAR ARMS – 3.75-4.25% depending on the lender Ongoing Lock/Float Considerations Rates moved higher in a serious way due to several big-picture headwinds, including: the Fed’s rate hike outlook (and general policy tightening), the increased amount of Treasury issuance to pay for the tax bill (higher bond issuance = higher rates), and the possibility that fiscal stimulus results in higher growth/inflation. Despite those headwinds, the upward momentum in rates has cooled off heading into the summer months. This could merely be the eye of the storm, or it could end up being the moment where markets began to doubt that prevailing trends would continue. It makes sense to remain defensive (i.e. generally more lock-biased) because the headwinds mentioned above won’t die down quickly. Temporary corrections can be explained away, but it will take a big change in economic fundamentals or geopolitical risk for the big picture to change. While that doesn’t necessarily mean rates have to skyrocket, there’s a good chance it means rates will struggle to move much lower than early 2018 lows until more convincing motivation shows up. Rates discussed refer to the most frequently-quoted, conforming, conventional 30yr fixed rate for top tier borrowers among average to well-priced lenders. The rates generally assume little-to-no origination or discount except as noted when applicable. Rates appearing on this page are “effective rates” that take day-to-day changes in upfront costs into consideration. 30 Year Fixed Rate Mortgage 15 Year Fixed Rate Mortgage Co-branding this Report Enable co-branding to personalize this report with your business information here. Learn more about co-branding with NO competitor ads. Today’s Rates Best Execution Rate Change Current Mortgage Rates » What are best-execution rates? 30 Yr FRM 4.72% -0.01 15 Yr FRM 4.19% -0.01 FHA 30 Year Fixed 4.42% +0.00 Jumbo 30 Year Fixed 4.50% -0.01 5/1 Yr ARM 4.00% -0.01 Average Mortgage Rates Rate Points Change FHFA * 15 Yr. Fixed 3.65% 1.14 +0.09 30 Yr. Fixed 4.19% 1.21 +0.02 MBA ** 30 Yr. Fixed 4.68% 0.46 -0.01 15 Yr. Fixed 4.12% 0.51 +0.05 30 Yr. Jumbo 4.55% 0.37 +0.00 30 Yr. FHA 4.69% 0.81 -0.04 5/1 ARM 3.83% 0.68 -0.10 Freddie Mac ** Current Mortgage Rates » * FHFA averages are updated monthly. ** Mortgage Bankers Association (each Wednesday) and Freddie Mac (each Thursday) averages are updated weekly. 30 Yr. Fixed 4.52% 0.40 -0.01 15 Yr. Fixed 4.00% 0.40 -0.02 1 Yr. ARM 2.68% 0.20 +0.01 5/1 Yr. ARM 3.87% 0.30 +0.01 Secondary Markets MBS Price Change 30YR FNMA 3.0 96.39 +0.11 30YR FNMA 3.5 99.11 +0.11 30YR GNMA 3.0 97.58 +0.02 30YR GNMA 3.5 99.92 -0.05 15YR FNMA 3.0 99.08 +0.05 15YR FNMA 2.5 96.77 +0.03 Treasuries Yield Change Current MBS / Treasury Prices » MBS and Treasury data provided by Thomson Reuters. Mortgage News Daily and MBS Live! are exclusive re-distributors of Real Time Thomson Reuters Mortgage Information. Secondary Marketing Managers: If you are interested in gaining access to the most accurate real-time back-month TBA indications from Thomson Reuters and Tradeweb. Request More Information 2 YR 2.6735% +0.0081 5 YR 2.8479% -0.0033 10 YR 2.9617% -0.0130 30 YR 3.0814% -0.0257 Prices as of: 7/31/2018 5:05PM EST

About This Report Mortgage News Daily is a trusted source of mortgage rate market data and analysis, with over 1 million readers each month. Unlike many rate surveys, our survey is conducted on a daily basis and is designed to bring you the most current and accurate rate data available. We use a proprietary formula to calculate averages based on best-execution rates from top lender’s rate sheets, also taking into account feedback from hundreds of mortgage market professionals around the country.

© 2018 Brown House Media, Inc. All rights reserved. Brown House Media Inc. – 19706 One Norman Blvd – Cornelius, NC 28031

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This information is not an advertisement to extend consumer credit as defined by Section 226.2 of Regulation Z. This is not an offer to enter into an agreement regarding interest rates. The rates quoted do not include discount points, origination points, or loan level risk based price adjustments. Rates presented in this report are averages and are subject to change without notice. You were sent this email because you opted to receive our weekly or daily email reports. Go here to manage your email preferences or here to unsubscribe from all email communications.

Congress Votes to Keep Flood Insurance on Life Support for 4 More Months

Posted to: MND NewsWire
Tuesday, July 31, 2018 3:26 PM

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Congress has once again snatched the National Flood Insurance Program (NFIP) away from its scheduled demise while setting the stage for needing to do it again. The program, which was due to expire at midnight on Tuesday, was extended for another four months. It was merely the latest is a series of delaying actions while someone, somewhere, figures out how to make the program actually work.

Had the program expired, the Federal Emergency Management Agency (FEMA) which administers it would have been unable to issue new policies. This would have prevented on the sale of houses in specified flood zones that were to be financed by any federally guaranteed mortgages. The National Association of Realtors earlier estimated that some 40,000 home sales would be disrupted if the program were allowed to expire for a month. FEMA would also be unable to pay out claims in the event of a major flooding disaster – in the middle of hurricane season.

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More from MND:

• MND NewsWire: Will We Be Ready When Boomers Exit Homeownership?
• MND NewsWire: Home Price Gains are Beginning to Hurt Sales
• MBS Commentary: MBS Day Ahead: "Japan Effect" Tested; Torch Passed to Month-End
• Pipeline Press: Digital Products; Legal News and Lawsuits; Layoffs and Promotions
• MBS Commentary: MBS RECAP: Fairly Slow: Risks and Opportunities Remain

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Will We Be Ready When Boomers Exit Homeownership?

Posted to: MND NewsWire
Tuesday, July 31, 2018 1:53 PM

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Baby Boomers, the largest generation of Americans in history until the Millennials came along, have influenced the country since their birth and have created what could be described as a pig in a python in homeownership rates. They are ageing, the leading edge of the group is now in their 70s, but still, according to Fannie Mae, inhabit 46 million owner-occupied homes with an estimated $13.5 trillion. What happens to the housing market when that generation, voluntarily or not, exit homeownership? Will the four generations following behind the Boomers step up and assume the mantle of homeownership?

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More from MND:

• MND NewsWire: Home Price Gains are Beginning to Hurt Sales
• MBS Commentary: MBS Day Ahead: "Japan Effect" Tested; Torch Passed to Month-End
• Pipeline Press: Digital Products; Legal News and Lawsuits; Layoffs and Promotions
• MBS Commentary: MBS RECAP: Fairly Slow: Risks and Opportunities Remain
• Mortgage Rate Watch: Mortgage Rates Edge to 2-Month Highs

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Blitzer: Home Price Gains are Beginning to Hurt Sales

Posted to: MND NewsWire
Tuesday, July 31, 2018 9:47 AM

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The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index put on a repeat performance for May. The index, which covers all nine U.S. census divisions, was up 6.4 percent, the same annual increase as was reported in April. There was a slight escalation in the monthly numbers, which estimated an increase of 1.1 percent before seasonal adjustment, and 0.4 percent afterward. In April the index rose 1.0 percent and 0.3 percent respectively. The two composite indices did decelerate slightly from their April pace. The10-City Composite gained 6.1 percent on an annual basis, down from 6.4 percent the previous month and the 20-City Composite’s appreciation slowed from 6.7 percent to 6.5 percent year-over-year.

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More from MND:

• MBS Commentary: MBS Day Ahead: "Japan Effect" Tested; Torch Passed to Month-End
• Pipeline Press: Digital Products; Legal News and Lawsuits; Layoffs and Promotions
• MBS Commentary: MBS RECAP: Fairly Slow: Risks and Opportunities Remain
• Mortgage Rate Watch: Mortgage Rates Edge to 2-Month Highs
• MND NewsWire: Pending Sales Gained Ground in June, Continued Year-Over-Year Slump

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MBS Day Ahead: “Japan Effect” Tested; Torch Passed to Month-End

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Posted to: MBS Commentary
Tuesday, July 31, 2018 9:48 AM

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Over the past 2 weeks, there has been quite a lot of speculation on the effects of Japanese monetary policy communications on US Treasuries. I’ve mentioned these in passing, but haven’t really spent too much time on it because I didn’t happen to agree that it was the most important market mover in play. Today brings a bit of vindication for that stance as Japan was out overnight with a policy announcement that essentially aimed to quell all the recent speculation.

As far as Japanese bond yields are concerned, the BOJ (Bank of Japan) was successful. Yields…

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More from MND:

• Pipeline Press: Digital Products; Legal News and Lawsuits; Layoffs and Promotions
• MBS Commentary: MBS RECAP: Fairly Slow: Risks and Opportunities Remain
• Mortgage Rate Watch: Mortgage Rates Edge to 2-Month Highs
• MND NewsWire: Pending Sales Gained Ground in June, Continued Year-Over-Year Slump
• MBS Commentary: MBS Week Ahead: Incredibly Busy Week For Data and Events

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Digital Products; Legal News and Lawsuits; Layoffs and Promotions

Posted to: Pipeline Press
Tuesday, July 31, 2018 8:22 AM

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When I was in my 20s and into my 30s, I think I had about $3,000 in my retirement account – hardly enough now to even pay for the line-caught salmon for my cat Myrtle for a year. But in down payment news CNBC is telling us that people in that age group are tapping into their retirement money to buy homes. The survey size is only 600, which by my capital markets background math is about 12 people per state – is that really representative? Regardless, it is worth a skim for originators working with first-time home buyers.

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More from MND:

• MBS Commentary: MBS RECAP: Fairly Slow: Risks and Opportunities Remain
• Mortgage Rate Watch: Mortgage Rates Edge to 2-Month Highs
• MND NewsWire: Pending Sales Gained Ground in June, Continued Year-Over-Year Slump
• MBS Commentary: MBS Week Ahead: Incredibly Busy Week For Data and Events
• Pipeline Press: Bank Statement Programs; Upcoming Events; A Look at the Economy

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MBS RECAP: Fairly Slow: Risks and Opportunities Remain

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Posted to: MBS Commentary
Monday, July 30, 2018 6:03 PM

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For a week with so much on the calendar and so much at stake, today got things off to a fairly slow start. That’s not entirely surprising, given that it had the least going for it in terms of scheduled events. It also happened to be a Monday in the summertime.

The overnight trading session made things look even more uneventful, with no meaningful movement during Asian market hours. Things changed in Europe, however, with a series of state-level inflation reports (especially in Germany) serving to push European yields higher. Anticipation for a hike…

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More from MND:

• Mortgage Rate Watch: Mortgage Rates Edge to 2-Month Highs
• MND NewsWire: Pending Sales Gained Ground in June, Continued Year-Over-Year Slump
• MBS Commentary: MBS Week Ahead: Incredibly Busy Week For Data and Events
• Pipeline Press: Bank Statement Programs; Upcoming Events; A Look at the Economy
• MBS Commentary: MBS RECAP: Bonds Relieved by As-Expected GDP

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Daily Newsletter: Mortgage Rates Edge to 2-Month Highs; Pending Sales Finally Break Recent Losing Streak For Housing

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30 Year Fixed 4.73% +0.01 15 Year Fixed 4.20% +0.01 10YR Treasury 2.97% +0.0168 FNMA 30YR 3.5 99.00 -0.06 FNMA 15YR 2.5 99.03 -0.03 View Today’s Rates

Monday July 30, 2018 Mortgage Rate Watch – 4:48PM Mortgage Rates Edge to 2-Month Highs Mortgage rates edged higher today, keeping alive a trend toward higher rates that began just over a week ago. While the overall amount of ground covered as a part of this move isn’t … MND NewsWire – 10:21AM Pending Sales Gained Ground in June, Continued Year-Over-Year Slump Pending home sales rose marginally again in June, beating the National Association of Realtors® (NAR’s) Pending Home Sale Index (PHSI) for the previous month by 0.9 percent. The … MBS Commentary – 9:54AM MBS Week Ahead: Incredibly Busy Week For Data and Events This week is rare in terms of the combination of economic data, events, and other relevant goings-on. If someone asked me to rattle off a few of the biggest market movers in terms of … Pipeline Press – 8:54AM Bank Statement Programs; Upcoming Events; A Look at the Economy “Buy land – they’re not making any more of it.” Don’t tell that to Hawai’i. While California continues to burn, 2,400 miles to the southwest Hawai’i … Freddie Mac’s Mortgage Portfolio Up 3.8 Percent at Mid-Year Price, Fee, and Lock Changes; Libor Update; Yield Curve Inversion Latest Video JPMorgan’s Jamie Dimon on the Fed and rising rates Tour the most expensive estate in America Pending home sales fall versus a year ago for sixth month More News from ‘Around the Web’ Bloomberg – 4:30PM Treasury Raises Borrowing Outlook With Second-Half Projection Hitting $769 Billion http://www.realtor.com – 3:59PM This Is How Much Money You Need to Pay Rent in the Biggest U.S. Cities CNBC – 3:55PM Interest rates could move higher this week no matter what Fed does CNBC – 3:55PM Insane things people will or won’t do for a free home Calculated Risk Blog – 3:55PM Q2 2018 GDP Details on Residential and Commercial Real Estate blog.stewart.com – 1:34PM What’s New in Real Estate Tech from Inman’s Hacker Connect blog.stewart.com – 12:09PM Existing Home Sales in June 2018 Like a Slow Leaking Tire Hard to Notice the Difference But the Dash Warning Light Just Illuminated Calculated Risk Blog – 10:47AM Dallas Fed: "Robust Expansion in Texas Manufacturing Continues; Uncertainty Picks Up" CNBC – 9:51AM Full-scale bailout for industries impacted by tariffs would cost $39 billion, Chamber of Commerce says Reuters – 8:32AM Euro zone economic sentiment edges lower in July Reuters – 8:09AM China tempts Britain with free trade, says door to U.S. talks open http://www.realtor.com – 8:08AM Cities Where People Own Their Homes the Longestand Those Where They Pack Up Fast Today’s Rates Best Execution Rate Change Current Mortgage Rates » What are best-execution rates? 30 Yr FRM 4.73% +0.01 15 Yr FRM 4.20% +0.01 FHA 30 Year Fixed 4.42% +0.00 Jumbo 30 Year Fixed 4.51% +0.01 5/1 Yr ARM 4.01% +0.01 Average Mortgage Rates Rate Points Change FHFA * 15 Yr. Fixed 3.65% 1.14 +0.09 30 Yr. Fixed 4.19% 1.21 +0.02 MBA ** 30 Yr. Fixed 4.68% 0.46 -0.01 15 Yr. Fixed 4.12% 0.51 +0.05 30 Yr. Jumbo 4.55% 0.37 +0.00 30 Yr. FHA 4.69% 0.81 -0.04 5/1 ARM 3.83% 0.68 -0.10 Freddie Mac ** Current Mortgage Rates » * FHFA averages are updated monthly. ** Mortgage Bankers Association (each Wednesday) and Freddie Mac (each Thursday) averages are updated weekly. 30 Yr. Fixed 4.52% 0.40 -0.01 15 Yr. Fixed 4.00% 0.40 -0.02 1 Yr. ARM 2.68% 0.20 +0.01 5/1 Yr. ARM 3.87% 0.30 +0.01 Secondary Markets MBS Price Change 30YR FNMA 3.0 96.28 -0.11 30YR FNMA 3.5 99.00 -0.06 30YR GNMA 3.0 97.56 +0.03 30YR GNMA 3.5 99.97 0.00 15YR FNMA 3.0 99.03 -0.03 15YR FNMA 2.5 96.73 -0.05 Treasuries Yield Change Current MBS / Treasury Prices » MBS and Treasury data provided by Thomson Reuters. Mortgage News Daily and MBS Live! are exclusive re-distributors of Real Time Thomson Reuters Mortgage Information. Secondary Marketing Managers: If you are interested in gaining access to the most accurate real-time back-month TBA indications from Thomson Reuters and Tradeweb. Request More Information 2 YR 2.6654% -0.0121 5 YR 2.8512% +0.0050 10 YR 2.9747% +0.0168 30 YR 3.1071% +0.0217 Prices as of: 7/30/2018 5:05PM EST

This information is not an advertisement to extend consumer credit as defined by Section 226.2 of Regulation Z. This is not an offer to enter into an agreement regarding interest rates. The rates quoted do not include discount points, origination points, or loan level risk based price adjustments. Rates and terms are subject to change without notice. © 2018 Brown House Media, Inc. All rights reserved. Brown House Media Inc. – 19706 One Norman Blvd – Cornelius, NC 28031

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