CoreLogic: Home prices rise 6.8% in October
Mortgage Applications Decrease Slightly in Latest MBA Weekly Survey
CoreLogic: Distressed home sales continue to trend lower
Freddie Mac: Mortgage rates drop further below 4%
U.S. Stocks Rally With Dollar on Economy Optimism; Crude Falls
Too big to fail is ‘alive and well’
Major online lenders may back away from FHA loans
2016 Maximum Conforming Loan Limits Established for Fannie Mae and Freddie Mac
Today’s News Synopsis:
In The News:
Housing Wire – “Here are 7 tips to secure a home when inventory is low” (12-4-15)
“While there is strong buyer demand, a giant lack of inventory in the housing market is creating a roadblock. This leaves home shoppers in a tight spot.”
Mortgage Professional America – “Morning Briefing: Negative equity falls but still a drag” (12-4-15)
“The proportion of US homes in negative equity has continued to fall but there are still a large number of homes underwater according to a new report.”
DS News – “President Signs Fannie Mae & Freddie Mac CEOs Salary Cap Bill into Law” (12-4-15)
“It appears that Fannie Mae and Freddie Mac CEOs will not be receiving the multi-million dollar pay raises that Federal Housing Finance Agency (FHFA) Director Mel Watt had in mind for them.”
Bloomberg – “Credit-Market Swoon Sends Somber Message to Property Investors” (12-4-15)
“Commercial real estate investors are receiving ominous signals from the bond market. Yields on U.S. corporate debt are rising — touching a three-year high last month — while projected returns on properties from apartment towers to offices to top-tier shopping malls stay stubbornly low.”
Mortgage Professional America – “The industry is alive and well, despite fears to the contrary” (12-4-15)
“Originators shouldn’t fear the influx of online and digital mortgage options, according to one industry veteran, who argues the role of the loan officer is more important today than ever before.”
Housing Wire – “Does November jobs report signal December interest rate hike?” (12-4-15)
“November job creation increased by 211,000 in November, giving the final confirmation that the Fed will likely raise rates this month, the Bureau of Labor Statistics said.”
DS News – “What Changes Are Coming to the CFPB’s Consumer Complaint Database” (12-4-15)
“The Consumer Financial Protection Bureau (CFPB)’s Consumer Complaint Database has generated much controversy since June when it began publishing narratives of complaints from consumers. So much so that CFPB Director Richard Cordray issued a rare public response to the criticisms in late November.”
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/usnavy
Mortgage rates decreased again to their lowest since May 2013 with 30-year rates at 3.89% and 15-year rates at 3.10%. 41,000 foreclosures were completed in October, down 26.4% year-over-year yet still at high levels. Underwater borrowers were also high at 4 million despite showing signs of decrease.
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.