Today’s News Synopsis:
Keeping house plants alive is tough work. Freddie Mac reported Mortgage rates held steady this month with 30-year rates at 3.65% and 15-year rates at 3.09%. Foreclosure activity dropped to its lowest in 15 years last year, having decreased 21% year-over-year to 493,066.
In The News:
Freddie Mac – “Mortgage Rates Generally Hold Steady” (1-16-2020)
“Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey (PMMS®), showing that the 30-year fixed-rate mortgage (FRM) averaged 3.65 percent.”
HousingWire – “Home renovation boom expected to weaken in 2020” (1-16-2020)
“U.S. homeowners are expected to spend less on home improvement and repairs over the next year, according to the Leading Indicator for Remodeling Activity from Harvard University’s Joint Center for Housing Studies.”
NAHB – “Builder Confidence Begins Year Strong as Single-Family Growth Continues” (1-16-2020)
“Builder confidence in the market for newly-built single-family homes edged one point lower to 75 in January, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index (HMI) released today.”
ATTOM Data Solutions – “U.S. Foreclosure Activity Drops to 15-Year Low In 2019” (1-16-2020)
“ATTOM Data Solutions, curator of the nation’s premier property database and first property data provider of Data-as-a-Service (DaaS), today released its Year-End 2019 U.S. Foreclosure Market Report, which shows foreclosure filings— default notices, scheduled auctions and bank repossessions — were reported on 493,066 U.S. properties in 2019, down 21 percent from 2018 and down 83 percent from a peak of nearly 2.9 million in 2010 to the lowest level since tracking began in 2005.”
“Home shoppers looking to purchase a new construction home can sell their existing home to Zillow and enjoy an extended closing time while their new home is being built.”
Mortgage Bankers Association – “December New Home Purchase Mortgage Applications Increased 38.7 Percent” (1-16-2020)
“The Mortgage Bankers Association (MBA) Builder Application Survey (BAS) data for December 2019 shows mortgage applications for new home purchases increased 38.7 percent compared to December 2018.”
Apartment Therapy – “Are Condos a Good Investment?” (1-16-2020)
“If you’re currently contemplating purchasing a condo (versus a single-family home), you may be wondering: Are condos a good investment?”
SF Gate – “These 8 Black-Thumb Mistakes Will Kill Your Houseplants This Winter” (1-16-2020)
“Keeping your houseplants happy is tough, even in the best of conditions; but winter brings a host of new challenges. Avoid these pitfalls with your plants..”
Bruce Norris will be presenting Turmoil: The Coming Storm of Negative Interest Rates on Saturday, February 1.
Bruce Norris will be presenting his newest talk 6 Things To Succeed In 2020 with LA South REIA on Monday, February 10.
Bruce and Aaron Norris will be presenting their latest Florida Buying Bootcamp 2020 Thursday-Friday, March 19-20.
How do sports stadiums impact real estate? According to the latest MBA Mortgage Applications Survey, mortgage applications increased 13.5% from the previous week. If you were thinking of moving or just wanted to have more space, what were some of the top 50 things to consider tossing?
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