Consumer Spending Gain Shows U.S. Is Weathering Global Slowdown
CoreLogic: Cash sales in June drop to 31%
Residential construction spending rises in August
Freddie Mac: Mortgage rates below 4% ten weeks straight
Morning Briefing: Shale towns overbuilt as oil industry declines
Regulator confirms ‘hold harmless’ period
Consumer Protection and Regulatory Relief Bills Pass Committee
Flexibility Is a Key Driver for Booming Single-Family Rental Market
Today’s News Synopsis:
In The News:
Bloomberg – “Home Price Rebound Creeps Into Policy Debate of Bubble-Wary Fed” (10-1-15)
“Real-estate broker Warren Teller watched as the housing market in Richmond, Virginia, slowed dramatically eight years ago. Today, he’s witnessing a reversal.”
Housing Wire – “Multifamily mortgage debt tops $1 trillion in 2Q” (10-2-15)
“During the second quarter of 2015, the amount of multifamily mortgage debt outstanding topped $1 trillion for the first time, according to the Mortgage Bankers Association”
DS News – “Will September’s Weak Jobs Report Slow Down Housing Growth?” (10-2-15)
“The lower-than-expected labor market gains for September brought the average monthly job growth for the year down below 200,000, which could possibly slow down the heretofore robust activity for the housing industry so far in 2015.”
“RealtyTrac® (www.realtytrac.com), the nation’s leading source for comprehensive housing data, today announced the launch of its enhanced Marketing List Lead Generation Platform allowing customers to leverage RealtyTrac’s robust nationwide real estate data on more than 120 million U.S. residential and commercial properties to create targeted marketing lists in a convenient, self-service online interface.”
NAHB – “New Hampshire Remodeler Named NAHB Remodeler of the Year” (10-2-15)
“The National Association of Home Builders (NAHB) Remodelers named Greg Rehm, CGR, CAPS, CGP, owner of Liberty Hill Construction in Bedford, N.H., the 2015 NAHB Remodeler of the Year in recognition of his professional remodeling achievements.”
Housing Wire – “Housing experts explain September’s hot mess jobs report” (10-2-15)
“Earlier Friday the September employment situation report from the Census Bureau showed new job creation cratering to a weak 142,000, well below analyst expectations.”
DS News – “CFSI Loan Management Welcomes New VP of Business Development” (10-2-15)
“CFSI Loan Management has added David Olson to their team as VP of business development. He comes to CFSI Loan Management after having spent more than 20 years in various roles with various business services and niche financial services firms.”
Mortgage Professional America – “Morning Briefing: Commercial market to be healthy for 3 years says report” (10-2-15)
“Economic conditions should mean a healthy level of growth for the commercial real estate industry through 2017.”
Housing Wire – “Tightening inventory helps flagging housing market” (10-2-15)
“House prices are picking up again on the back of a very tight housing market, says Matthew Pointon, Capital Economics’ property economist”
Bruce Norris of The Norris Group will be presenting his talk How to Create a $100,000 Payday Per Deal in 2015 on Thursday, October 8.
Bruce Norris of The Norris Group will be presenting Cashing in on a Boom: Investing in Quadrant 4 on Saturday, October 10.
Bruce Norris of The Norris Group will be presenting the 8th annual I Survived Real Estate 2015 on Friday, October 16.
The Norris Group will be holding its Property Buying Bootcamp on Tuesday through Thursday, October 27-29
Copyright: Image from www.flickr.com/photos/59937401@N07
Freddie Mac reported mortgage rates decreased slightly the previous week with 30-year rates at 4.19% from 4.2%, and 15-year rates remaining the same at 3.36%. The amount of mortgage credit available remained the same this month at 116.1. Almost half of the foreclosures completed over the previous year were primarily in five states: Florida, Michigan, Texas, California, and Georgia.
For more information about The Norris Group’s California hard money loans or our California Trust Deed investments, visit the website or call our office at 951-780-5856 for more information. For upcoming California real estate investor training and events, visit The Norris Group website and our California investor calendar. You’ll also find our award-winning real estate radio show on KTIE 590am at 6pm on Saturdays or you can listen to over 170 podcasts in our free investor radio archive.