Norris Bruce
Mar 14, 2019

The Stone Of the Brexit Exit May Be Skipping Across The Pond To America

Today’s News Synopsis:

America could be feeling the effects of Britain’s exit from the European Union.  Home prices saw their smallest year-over-year gain in seven years, having increased only 0.6% in February.  Mortgage rates decreased to 4.31% for 30-year rates and 3.76% for 15-year rates, making homebuying less expensive too.

In The News:

Realtor.com “Britain’s Brexit Mess Could Hit the U.S. Housing Market” (3-14-2019)

“Britain may be across the “pond” from America, but the growing chaos around Brexit, Britain’s planned departure from the European Union, is expected to have global ramifications—and the U.S. real estate market won’t be immune from them.”

Freddie Mac – “Mortgage Rates Drop, Making Homebuying Less Costly” (3-14-2019)

“Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing that the 30-year fixed-rate mortgage dropped 10 basis points to 4.31 percent.”

Realtor.com “The Best Week of the Year to Put Your House on the Market Is…” (3-14-2019)

“For the past few years, home sellers have been in the driver’s seat. With hordes of buyers fighting over a very limited supply of properties, many homes sold in days—and landed their sellers a windfall.”

Wall Street Journal – “U.S. New-Home Sales Fell in January” (3-14-2019)

“Sales of new homes in the U.S. fell in January, signaling a weak start to 2019 for the troubled U.S. housing industry.”

Zillow “Rent Growth Hits 10-Month High as Home Value Appreciation Drops Sharply” (3-14-2019)

“Rent prices grew at their fastest rate in 10 months in February, reaching 2.4 percent year-over-year appreciation, according to the February Zillow® Real Estate Market Report.”

Mortgage Bankers Association “February New Home Purchase Mortgage Applications Increased 3 Percent” (3-14-2019)

“The Mortgage Bankers Association (MBA) Builder Application Survey (BAS) data for February 2019 shows mortgage applications for new home purchases increased 3 percent compared from a year ago.”

Redfin “Home Prices Up 0.6% in February – Smallest Year-Over-Year Gain Since March 2012” (3-14-2019)

“U.S. home-sale prices increased just 0.6 percent in February compared to a year ago, to a median of $287,400 across the metros Redfin tracks.”

Realtor.com “Britain’s Brexit Mess Could Hit the U.S. Housing Market” (3-14-2019)

“Britain may be across the “pond” from America, but the growing chaos around Brexit, Britain’s planned departure from the European Union, is expected to have global ramifications—and the U.S. real estate market won’t be immune from them.”

 

California Real Estate Investor Events

Aaron Norris will be presenting Innovating Real Estate Marketing with the Black Inland Empire Real Estate Investment Club on Wednesday, March 20.

Bruce Norris will be presenting 10 Decisions To Make Before The Next Downturn with Pasadena FIBI on Thursday, April 18.

 

Looking Back:

Would you live in a shipping container?  Apartment List came up with a list of what $1,500 would get you in each state.  In a story about advancing real estate technology, home sellers learned more about their prospective buyers through spycams set up in the house they look at during an open house.

 

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