Share of SFR Built-for-Rent Homes Remains Low
Home Prices in 20 U.S. Cities Increase 5.5 Percent in Year to September
GDP Growth Rate Expands in Second Q3 Estimate as U.S. Awaits Fed Liftoff
New Study Suggests Strong Outlook for Green Homes
What is the Cost of Delaying the Foreclosure Process?
SFR Securitizations Appreciating in Value
Institutional Inventors Slightly Less Active
Today’s News Synopsis:
In The News:
Housing Wire – “FHFA announces 2016 conforming loan limits” (11-25-15)
“The Federal Housing Finance Agency announced the maximum conforming loan limits for mortgages to be acquired by Fannie Mae and Freddie Mac in 2016.”
NAHB – “New Home Sales Rise 10.7 Percent in October” (11-25-15)
“Sales of newly built, single-family homes rose 10.7 percent to a seasonally adjusted annual rate of 495,000 units in October, according to newly released data from HUD and the U.S. Census Bureau.”
Mortgage Professional America – “Mortgage more affordable than renting in the US” (11-25-15)
“On average, homeowners in America can expect to spend 15% of their income on a mortgage. Zillow found that most renters that reside in some of the nation’s largest cities are setting aside around 30% of their monthly income just to pay their rent.”
DS News – “Wells Fargo Relocates 350 Servicing Employees” (11-25-15)
“The restructuring of mortgage servicing shops continues with Wells Fargo confirming Monday that the bank is moving approximately 350 home loan servicing members out of its offices in Charlotte, North Carolina, to an existing servicing center in Fort Mill, South Carolina.”
Bloomberg – “(VIDEO) U.S. Personal Spending Worse Than Expected” (11-25-15)
“Gracious Home CEO Dottie Mattison and Bloomberg View’s Barry Ritholtz discusses the U.S. economy, and consumer spending and confidence.”
Mortgage Bankers Association – “Mortgage Applications Decrease in Latest MBA Weekly Survey” (11-25-15)
“Mortgage applications decreased 3.2 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending November 20, 2015.”
Mortgage Professional America – “Google takes another step into the mortgage sector” (11-25-15)
“Google announced the expansion of its fleet of financial services this week earlier this week, a move that follows the launch of a mortgage calculator tool back in February of this year.”
DS News – “HELOC Balances at Larger Banks Continue Declining Trend” (11-25-15)
“Balances on home equity lines of credit (HELOCs) continued their trend of declining in Q3, dropping down to an aggregate balance of about $492 billion as of the end of the quarter, according to data recently released by the Federal Reserve Bank of New York.”
Bruce Norris will be presenting his newest talk Stay Put, Cash Out, Or Change Seats? with SDCIA on Tuesday, December 8.
Bruce Norris will be presenting his newest talk Stay Put, Cash Out, Or Change Seats? with Prosperity Through Real Estate on Tuesday, January 5.
Bruce Norris will be presenting his newest talk Stay Put, Cash Out, Or Change Seats? with CVREIA on Tuesday, January 12.
Image copyright source: www.flickr.com/photos/spilt-milk
The pace of home price growth was slow in 20 U.S. cities, having increased only 4.9% year-over-year compared to 5.6% in the year ended in August. At the same time, the median price for distressed residential properties increased 18% the previous month. Mortgage originations increased for the first time in a year the previous quarter, breaking the four-quarter trend.
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.