NAHB – “Affordability Edges Up in Fourth Quarter” (2-18-16)
“Modest home price and interest rate decreases resulted in a slight increase in nationwide housing affordability in the fourth quarter of 2015, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI) released today.”
DS News – “Is Flipping Making a Comeback? Hot Spots Are Emerging” (2-18-16)
“House flipping nationally has been stable in the last year; the current rate of around 5 percent is in line with the rate of pre-bubble housing years. In fact, the current rate is well below the 2006 flip rate of 8.6 percent.”
Mortgage Bankers Association – “Mortgage Foreclosures and Delinquencies Continue to Drop” (2-18-16)
“The delinquency rate for mortgage loans on one-to-four-unit residential properties decreased to a seasonally adjusted rate of 4.77 percent of all loans outstanding at the end of the fourth quarter of 2015.”
Housing Wire – “Freddie Mac: Mortgage rates stay frozen amid market ‘oscillations'” (2-18-16)
“Mortgage rates didn’t move from last week amid continued market volatility, Freddie Mac’s latest Primary Mortgage Market Survey reported.”
Mortgage Professional America – “1.6% vacancy a boon for sellers” (2-18-16)
“It’s a season of plenty for home sellers in the United States as vacancy nationwide sat at an average of 1.6% by the first day of February, which could apply upward pressure on home prices and promote further market recovery, the latest data from a housing research firm revealed.”
DS News – “FHFA Makes a Push to Reach HARP-Eligible Borrowers in Program’s Final Months” (2-18-16)
“For a program that was only supposed to be temporary, HARP is still going rather strong. On Wednesday, the Federal Housing Finance Agency (FHFA) released its Q4 2015 totals for loans refinanced through the Home Affordable Refinance Program.”
Housing Wire – “Mortgage servicers feel burden of regulatory pressure” (2-18-16)
“If there’s one unofficial yet overriding theme of this year’s National Mortgage Servicing Conference sponsored by the Mortgage Bankers Association, it has to be the pain of regulatory pressure on servicers.”
Mortgage Professional America – “Housing industry evolution fueled by demographic changes” (2-18-16)
“The housing industry in the United States is set to experience radical changes that would be fueled by a major demographic shift within a few decades, according to a renowned demographic expert.”
Housing Wire – “FHFA director Watt: This is the most serious risk facing Fannie Mae and Freddie Mac” (2-18-16)
“Thursday morning was an eventful time for the government-sponsored enterprises. At the same time that Freddie Mac announced that it returned to profitability in the fourth quarter after previously reporting a loss for the first time in four years, Mel Watt, the director of the Federal Housing Finance Agency, gave a sweeping speech on the state of the GSEs.”
“The FHFA’s conservatorship of Fannie Mae and Freddie Mac remains a controversial topic and the ability of the GSEs to remain profitable has been questioned by lawmakers and other stakeholders. But on Thursday, Freddie Mac answered the question—at least for now—by reporting a net income of $6.4 billion for the full-year 2015 in the Enterprise’s Q4 and full-year 2015 Earnings Report released Thursday.”
Another hard money loan closed in Moreno Valley. Real estate investor received loan for $184,000 on this single family property appraised for $284,000.
Bruce Norris will be presenting his newest talk Stay Put, Cash Out, Or Change Seats? with NORCALREIA on Wednesday, March 9.
Bruce Norris will be presenting his newest talk Stay Put, Cash Out, Or Change Seats? with OCREIA on Thursday, March 10.
Bruce Norris will be presenting Cashing in on a Boom: Investing in Quadrant 4 with Bruce Norris in Sacramento on Saturday, March 19.
The housing market overall was off to a rocky start despite positive forecasts with decreases in construction, consumer confidence, and mortgage applications. Despite this, there was an upside in first-time homebuyers who were continually visiting Redfin’s site to check out new properties. The rate for mortgage delinquencies decreased in the fourth quarter and was at 3.29%.
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.