Today’s News Synopsis:
What is the barbell of real estate? Housing demand! Mortgage rates are continuing to increase with 30-year rates now at 4.38% and 15-year rates at 3.84%. The NAHB reported builder confidence was at 72, still pretty strong levels. .
In The News:
Fannie Mae – “Growth Outlook Unchanged Despite Recent Market Volatility” (2-15-2018)
“Rising long-term interest rates and soaring market volatility are not enough to alter the forecast for strong 2.7 percent real GDP growth in 2018, according to the Fannie Mae Economic and Strategic Research Group’s February 2018 Economic and Housing Outlook.”
NAHB – “Builder Confidence Stays at Strong Level in February” (2-15-2018)
“Builder confidence in the market for newly-built single-family homes remained unchanged at a healthy 72 level in February on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI).”
HousingWire – “Freddie Mac reports $3.3 billion loss in Q4” (2-15-2018)
“Freddie Mac, while reporting a profit for the full year in 2017, posted a more than $3 billion loss in the fourth quarter.”
Freddie Mac – “Mortgage Rates Continue to Climb” (2-15-2018)
“Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey (PMMS®), showing the 30-year fixed mortgage rate reaching its highest level since April 2014.”
The Registry – “The Barbell Is Crushing the Supply of Affordable Homes” (2-15-2018)
“If you need any further convincing that we need to build more lower-priced homes, take a look at resale supply. The supply of low-tier listings (defined by Zillow as listings priced in the bottom one-third of home values in the market) have been declining steadily since mid-2014 and are down a whopping 20% YOY in the 31 largest housing markets.”
Forbes – “What Every Real Estate Investor Needs To Know About Apartment Property Managers” (2-15-2018)
“If you are looking for a way to diversify your portfolio while building wealth for the future, buying an apartment building could help you achieve both goals.”
Think Realty – “13 Steps to Real Estate Investment Success” (2-15-2018)
“In real estate, once the market begins to bounce back, investing in real property likewise turns into an all the more engaging thought – either as a profession or an awesome side job. Like any other undertaking, however, there’s a correct way and a wrong approach.”
Orange County Register – “Orange County missin 1-in-10 home sellers” (2-15-2018)
“Orange County house hunters have 10 percent fewer options as the homebuying season begins.”
Hard Money Loan Closed
San Bernardino, California hard money loan closed. Real estate investor received loan for $145,000 on this single family property appraised for $240,000.
Bruce Norris will be speaking at the 2018 Real Estate Market Forecast in Ontario, California on Wednesday, March 7.
Bruce Norris will be presenting Stay Put or Cash Out with NorcalREIA on Wednesday, March 14.
Bruce Norris will be presenting Cashing In On A Boom: Investing In Quadrant 4 With Bruce Norris in Sacramento on Saturday, March 17.
The Mortgage Bankers Association reported a 3.7% decrease in mortgage applications from the previous week. They also reported an increase in delinquencies in the fourth quarter, putting them at 4.8%. NAHB reported builder confidence decreased slightly to 65 but continued to remain stable.
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.