Norris Bruce
Jul 10, 2019

I Can Almost Reach That Mortgage

Today’s News Synopsis:

Zillow’s latest report showed that high school grads in most cities can almost afford that mortgage payment.  The Mortgage Bankers Association reported a 2.4% decrease in mortgage applications from last week.  What are the five crucial questions you need to ask before selling your home?

In The News:

Mortgage Bankers Association “Mortgage Applications Decrease in Latest MBA Weekly Survey” (7-10-2019)

“Mortgage applications decreased 2.4 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending July 5, 2019.”

Realtor.com “5 Questions to Ask Before Selling Your Home – and Why Missing Even One Can Cost You Dearly” (7-10-2019)

“Selling your house is not as simple as just putting it on the market and waiting for offers from eager buyers to roll in.”

DS News “Millennials Swarming to the Suburbs” (7-10-2019)

“A new report on The Exchange on CNBC revealed that while the rate of millennials moving to the suburbs isn’t new, what they’re looking for once they get there has changed.”

HousingWire “VA loan churning is driving up mortgage costs for all government borrowers” (7-10-2019)

“The churning of loans backed by the Department of Veterans Affairs has long been a thorn in Ginnie Mae’s side, as the agency has worked for three years to curb abuses by VA lenders, even going so far as booting some lenders from its securities platform and restricting others for questionable conduct.”

Forbes “Using AI To Harness Collective Intelligence In Commercial Real Estate” (7-10-2019)

“Historically, commercial real estate (CRE) intelligence has been passed down from person to person, either through a brokerage company or a corporate structure.”

Redfin “Just 1 in 8 Home-Purchase Offers Submitted by Redfin Agents in June Faced Competition, Down from 1 in 2 a Year Earlier” (7-10-2019)

“The housing market in San Francisco tapped the brakes in June as just 28 percent of offers written by Redfin agents on behalf of their home-buying customers faced a bidding war.”

Zillow “Mortgage Payments Within Reach for High School Grads in Most Cities” (7-10-2019)

“Households including at least one person with a high school diploma or GED can afford the typical mortgage payment in most large metro areas across the U.S.i, according to a new analysis by Zillow.”

Bloomberg – “Home Bidding Wars in U.S. Fall to a Fourth of Last Year’s Rate” (7-10-2019)

“Here’s how rapidly the U.S. housing market has cooled: Buyers are now about four times less likely to face a bidding war than they were just a year ago.”

 

California Real Estate Investor Events

Aaron Norris will be presenting Innovative Real Estate Marketing with LA South REIA TONIGHT.

Bruce Norris will be speaking at the ThinkRealty Irvine Conference & Expo on Saturday, July 13.

Bruce Norris will be presenting his latest talk 10 Decisions To Make Before The Next Downturn with InvestClub on Wednesday, August 21.

 

Looking Back:

Wondering about your lawn with all this heat?  Foreclosure rates were lower as a result of both an improved economy and underwriting.  The amount of mortgage credit available increased by 0.2% to 181 the previous month.

 

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The Norris Group

Phone: (951) 780-5856

Fax: (951) 780-9827

1845 Chicago Avenue, Ste C,
Riverside, CA 92507

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The Norris Group

Phone: (951) 780-5856

Fax: (951) 780-9827

© 2018 The Norris Group. All rights reserved. Privacy Policy.

NMLS ID 1623669 (See the NMLS consumer access page). Cal DRE 01219911. Florida Mortgage Lender MLD1577

 

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