Today’s News Synopsis:
Zillow Group will 3D homes to Real Estate Listings for FREE! Home affordability improved in the third quarter in 60% of U.S. markets according to ATTOM Data Solutions. Mortgage rates increased to their highest in six weeks with 30-year rates at 3.85% and 15-year rates at 3.15%.
In The News:
Zillow – “Zillow to Add 3D Homes to Real Estate Listings” (10-5-2017)
“Zillow today announced plans to bring 3D Homes to for-sale and for-rent listings, providing home searchers with a new and more immersive way to envision themselves in a home.”
Freddie Mac – “Mortgage Rates Rise” (10-5-2017)
“Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey (PMMS®), showing the average 30-year fixed mortgage rate ticking up to its highest mark in six weeks.”
ATTOM Data Solutions – “Home Affordability Improves in 60 Percent of U.S. Markets in Q3 2017 Compared to Previous Quarter” (10-5-2017)
“ATTOM Data Solutions, curator of the nation’s largest multi-sourced property database, today released its Q3 2017 U.S. Home Affordability Index, which shows that home affordability in the third quarter improved compared to the previous quarter in 60 percent of 406 U.S. counties analyzed in the report — although affordability was still worse off than a year ago in 79 percent of those counties.”
CNBC – “A new way to buy a home – with no money of your own” (10-5-2017)
“You can crowdfund your business, your charity, your product, your vacation — and now you can crowdfund your home.”
Mortgage Bankers Association – “Purchase Apps Up, Refi Apps Down in Latest MBA Weekly Survey” (10-5-2017)
“Mortgage applications decreased 0.4 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending September 29, 2017.”
HousingWire – “After 75 years, NAHB rethinks strong stance on the mortgage interest tax deduction” (10-5-2017)
“The National Association of Home Builders changed its stance on one of the most highly debated homeownership conversations: the importance of the mortgage interest tax deduction.”
Bloomberg – “U.S. Jobless Claims Fall 12,000 to 260,000” (10-5-2017)
“U.S. filings for unemployment benefits fell last week as the impact of hurricanes Harvey and Irma faded in several states, Labor Department figures showed Thursday.”
Redfin – “Time to Renovate the Mortgage Interest Deduction” (10-5-2017)
“The lack of affordable housing in America’s fast growing cities is reaching epic proportions as more and more families are being priced out of homeownership.”
Bruce Norris presents his latest talk 10 Life-Changing Days of a Real Estate Investor with SF Bay Summit on Saturday, October 7.
Aaron Norris will be presenting Technology Trends and Real Estate with the California Escrow Association up in San Jose on Friday, October 13.
Bruce Norris presents his California Market Update with Chino Valley Real Estate Professionals on Friday, October 13.
The Mortgage Bankers Association reported a 2.9% increase in mortgage applications according to their latest survey. Non-performing loans totaling $1 billion were just sold by Freddie Mac, most bought by private investors with whom they worked. In light of the recent scandals with big banks, the Federal Reserve Board and the Federal Deposit Insurance Corporation posted the new goals submitted by the banks in their revised “wills.”
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.