Today’s News Synopsis:
Will Millennials ever stop renting? Mortgage rates held steady this week with 30-year rates at 3.68% and 15-year rates at 3.14%. The amount of available mortgage credit increased last month by 2.1%.
In The News:
Freddie Mac – “Mortgage Rates Hold Steady” (12-5-2019)
“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 3.68 percent.”
Realtor.com – “6 Things in Your House You Aren’t Cleaning (but Totally Should)” (12-5-2019)
“If you’ve been following us at all lately, then you know we’re a bit germaphobic—and with good reason.”
Inman – “Will millennials rent forever? Study shows they believe so” (12-5-2019)
“A new Apartment List study provides the first hard evidence that large numbers of millennials who would like to become homeowners are so frustrated that they have changed their minds, at least for now.”
Mortgage Bankers Association – “Mortgage Credit Availability Increased in November” (12-5-2019)
“Mortgage credit availability increased in November according to the Mortgage Credit Availability Index (MCAI), a report from the Mortgage Bankers Association (MBA) that analyzes data from Ellie Mae’s AllRegs Market Clarity business information tool.”
Apartment Therapy – “This Is Pantone’s 2020 Color of the Year” (12-5-2019)
“It’s not only the last month of the year, but the 2010s are coming to a close. And we’re about to start a fresh decade with a new hue to rule them all, picked by the color experts at Pantone.”
HousingWire – “Redfin will now let people buy a house in California without a real estate agent” (12-5-2019)
“People in California who want to buy a home without using a real estate agent can now do exactly that, thanks to Redfin.”
MarketWatch – “This bleak chart makes scary reading for all home buyers” (12-5-2019)
“Millennials want to be homeowners, but there are lots of obstacles in their way.”
Forbes – “2020 Will See ‘Historic Low Level’ Of Housing Inventory” (12-5-2019)
“Demand for homes will be strong next year, but homebuyers will have few options.”
Bruce Norris will be presenting his newest talk 6 Things To Succeed In 2020 with SDCIA on Tuesday, December 10.
Bruce Norris will be presenting his newest talk 6 Things To Succeed In 2020 with Robert Hall & Associates on Wednesday, January 8.
Bruce Norris will be presenting his newest talk 6 Things To Succeed In 2020 with OCREIA on Thursday, January 9.
Bruce Norris will be presenting his newest talk 6 Things To Succeed In 2020 with CVREIA on Thursday, January 14.
Bruce Norris will be presenting Turmoil: The Coming Storm of Negative Interest Rates on Saturday, February 1.
Looking for a better life? The Mortgage Bankers Association reported a 2% increase in mortgage applications from the previous week. Home prices increased 5.4% year-over-year according to CoreLogic.
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