Today’s News Synopsis:
In The News:
Mortgage Bankers Association – “Mortgage Applications Up Sharply in Latest MBA Weekly Survey” (10-7-15)
“Mortgage applications increased 25.5 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending October 2, 2015.”
Bloomberg – “Consumer Borrowing in U.S. Rises at Slowest Pace in Six Months” (10-7-15)
“Consumer borrowing rose in August at the slowest pace in six months, reflecting a cooling in lending for autos and education.”
DS News – “IG Condemns FHFA’s Review of GSE Budgets” (10-7-15)
“As conservator of Fannie Mae and Freddie Mac since September 2008, the Federal Housing Finance Agency (FHFA) is charged with reviewing and approving the GSEs’ budget to ensure that the budget is achieving the FHFA’s stated purpose.”
Mortgage Professional America – “Washington state predicts a cooling market” (10-7-15)
“Home sales may be hot in much of the U.S., but real estate experts in at least one area say it isn’t sustainable. Home sales in western Washington state are expected to slow through the rest of 2015 and into 2016.”
DS News – “CFPB Considers Opening the Door for Class Action Lawsuits” (10-7-15)
“The Consumer Financial Protection Bureau (CFPB) announced on Wednesday it is considering proposing rules that will make consumer financial companies more accountable to the customers they serve.”
Housing Wire – “10 amazing markets housing investors really need to consider” (10-7-15)
“Atlanta, Charlotte, Fort Lauderdale, Riverside, and San Diego have been included among the 2015 Best Markets Top 10 List compiled quarterly by HomeVestors and Local Market Monitor.”
DS News – “Another Asset Price Bubble? Kroll Says ‘Yes'” (10-7-15)
“Take a look back to the year 2008 and remember where you were when Bear Stearns crashed, and the credit crisis began, leading to a shaky summer and a distressing stock market plunge in early autumn.”
Mortgage Professional America – “Equity firms under fire for foreclosures” (10-7-15)
“But these private equity firms and hedge funds are being criticized for pushing homes into foreclosure prematurely, leaving lawmakers to question why federal agencies are selling loans at a discount of as much as 30% to these firms.”
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/118087133@N02
Home price growth was on the decline having increased only 6.4% year-over-year and 0.3% month-over-month in August, compared to 7.4% and 1.2% the year prior. Despite this, growth was actually the strongest it had been in five months. RealtyTrac released data showing the best top ten college towns to buy rental properties and to flip homes.
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.