Today’s News Synopsis:
New data from HUD and the Census Bureau shows new home sales for single-family homes decreased by 1.5%. Black Knight Financial reported mortgage delinquency rates are at their lowest in 16 years at 1.95%. Black Knight also released their list of the top ten states showing the greatest increase in home prices, among them being California, Hawaii, and Washington.
In The News:
NAHB – “New Home Sales Relatively Unchanged in March” (4-25-16)
“Sales of newly built, single-family homes fell 1.5 percent in March from an upwardly revised February reading to a seasonally adjusted annual rate of 511,000 units, according to newly released data from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.”
DS News – “Ten States Where Home Prices are Heating Up” (4-25-16)
“Home prices have been consistently rising for the last few years and although the pace has slowed, they are still ticking upward in these 10 housing markets.”
Mortgage Professional America – “Economists still expect two rate hikes this year” (4-25-16)
“The Federal Reserve is expected to hold interest rates steady at its meeting this week, but a Reuters poll shows most economists still expect a rate hike in June and a second before year’s end.”
Housing Wire – “There may be a future for TRID securitizations yet” (4-25-16)
“Investors are still not sold on the safety of the private label securitization market now that TRID is in the mix, despite the majority of the industry getting accustomed to the rules.”
Mortgage Professional America – “Mortgage delinquencies hit lowest level in years” (4-25-16)
“Mortgage delinquencies have hit their lowest rate in years – and in the case of 30-day delinquencies, their lowest rate in at least 16 years, according to new data from Black Knight Financial.”
DS News – “Wells Fargo Extends Outreach in Underserved Communities” (4-25-16)
“Wells Fargo unveiled new corporate social responsibility (CSR) goals that are intended to address global social, economic, and environmental challenges, including a multibillion-dollar mortgage pledge to minority and low-income communities.”
Housing Wire – “Hey Dallas Millennials! Better get used to renting” (4-25-16)
“First-time homebuyers and those looking for a smaller, new home in the Dallas-Fort Worth area are out of luck now, and will remain that way into perpetuity, according to a new report from Metrostudy.”
DS News – “Is Housing Springing Forward…Or Falling Back?” (4-25-16)
“The housing market has experienced a few setbacks in the last month or two, among them continuing tight inventory, a decline in housing starts, and inconsistent existing-home sales numbers.”
Hard Money Loan Closed
Thousand Palms, California hard money loan closed. Real estate investor received loan for $70,000 on this single family property appraised for $137,000.
Bruce Norris will be presenting his newest talk Stay Put, Cash Out, Or Change Seats? with IVAR on Wednesday, May 4.
Bruce Norris will be presenting his newest talk Stay Put, Cash Out, Or Change Seats? with OCRE Forum on Wednesday, May 11.
Bruce Norris will be speaking at the AOA Million Dollar Tradeshow and Landlording Conference 2016 on Thursday, May 19.
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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 6 pm on Saturdays or you can listen to over 170 podcasts in our free investor radio archive.