Today’s News Synopsis:
What’s a new, creative way to address some of the housing shortage? Freddie Mac reported mortgage rates decreased with 30-year rates now at 3.95%, down from 3.99%, and 15-year rates at 3.38%, down from 3.44%. We may see a decline in generations living apart from each other as developers may begin building senior housing next to universities.
In The News:
Freddie Mac – “Mortgage Rates Drop” (1-4-2018)
“Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey (PMMS®), showing average mortgage rates dropping to start the year.”
Realtor.com – “The 3 Best Reasons to Buy a Home in 2018 (but You’d Better Hurry)” (1-4-2018)
“Figuring out when to plunge into the real estate market can be quite intimidating—especially when prices are high, choices are limited, and history urges restraint.”
Bloomberg – “Fannie-Freddie Overhaul Might Mint Hedges Fund Riches, Losses” (1-4-2018)
“They’ve lost in court. They’ve been rebuffed by government agencies. Now, the fates of hedge funds and other investors in mortgage-finance giants Fannie Mae and Freddie Mac could lie with an old adversary: the U.S. Congress.”
The Real Deal – “Bill would remove restrictions on transit-adjacent development” (1-4-2018)
“A state lawmaker has proposed a bill to eliminate restrictions on development within a half-mile of major transit lines to address the state’s housing shortage.”
Forbes – “Takeaways From Real Estate Tech In 2017” (1-4-2018)
“We can always count on the new year to be a fixture in the news cycle to reflect, rank and highlight the notable and newsworthy events of the last 12 months. For the real estate tech sector, 2017 was immensely fruitful and continued the upward trajectory of investments and new technologies.”
“More than 45 years after graduating from college, Ida O’Donoghue is back at school. Once a week when Cal Lutheran University is in session, the 69-year-old former high school English as a Second Language teacher heads to the college’s Communication Café, where she helps foreign undergraduate students practice their English language skills.
Forbes – “Three Reasons Why Renting Can Be A Better Choice Than Owning” (1-4-2018)
“When I was growing up, a very salient stigma afflicted American real estate: renting. Renters were low-income earners who were unable to afford single-family homes.”
Urban Land – “Building More Affordable Housing in California” (1-4-2018)
“With communities across the United States facing a shortage of affordable housing, politicians have turned their attention to this alarming deficiency.”
Bruce Norris will be presenting Stay Put or Cash Out with CVREIA on Tuesday, January 9.
Bruce Norris will be presenting Stay Put or Cash Out with Robert Hall & Associates on Wednesday, January 10.
Bruce Norris will be presenting Stay Put or Cash Out with OCREIA on Thursday, January 11.
The Mortgage Bankers Association reported a 12% decrease in mortgage applications after two weeks. Freddie Mac released their latest Multi-Indicator Market Index report, showing which cities’ housing markets ranked the highest. The Federal Reserve saw a more positive outcome to rraisingrates as opposed to risks.
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.