Today’s News Synopsis:
What are the top colors for your home for 2020 and beyond? Mortgage rates are at their lowest on record with 30-year rates at 3.6% and 15-year rates at 3.07%. Home prices increased 3% in July with the 3% drop in supply.
In The News:
Mortgage Bankers Association – “July New Home Purchase Mortgage Applications Increased 31.2 Percent” (8-15-2019)
“The Mortgage Bankers Association (MBA) Builder Application Survey (BAS) data for July 2019 shows mortgage applications for new home purchases increased 31.2 percent compared from a year ago.”
Freddie Mac – “Mortgage Rates Remain Near Historical Lows” (8-15-2019)
“Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey (PMMS®), showing that the 30-year fixed-rate mortgage (FRM) rate averaged 3.60 percent, unchanged from last week.”
DS News – “Gen Z Home Loans Catching Up” (8-15-2019)
“Serious delinquency rates have declined while originations have remained conservative with 1.4 million in Q1 2019, according to a new report from TransUnion. The report found that where there is growth, it is coming from the Gen Z demographic who are 18 years or older.”
NAHB – “Builder Confidence Trending Higher as Interest Rates Move Lower” (8-15-2019)
“Builder confidence in the market for newly-built single-family homes rose one point to 66 in August, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index (HMI) released today.”
“U.S. home-sale prices grew at a steady 3.3 percent rate year over year to a median of $318,100 across the metros Redfin tracks. Home prices have been growing in the healthy 3 percent range since May.”
ATTOM Data Solutions – “Over 1.5 Million Vacant U.S. Homes in Q3 2019 Represent 1.6 Percent of All Singel-Family Homes and Condos” (8-15-2019)
“ATTOM Data Solutions, curator of the nation’s premier property database and first property data provider of Data-as-a-Service (DaaS), today released its Q3 2019 Vacant Property and Zombie Foreclosure Report showing there are over 1.5 million (1,530,563) U.S. single-family homes and condos vacant in the third quarter of 2019, representing 1.6 percent of all homes.”
Apartment Therapy – “Sherwin-Williams On What Color Palettes Will Take Us Into 2020 and Beyond” (8-15-2019)
“It’s still August, but you can bet 2020 will be here before you know it. With the new decade comes a new batch of colors of the year, and by the looks of it, we’ll be starting off on a well-hued foot.”
Curbed – “Is a recession coming? Here’s what that means for housing” (8-15-2019)
“Experts agree that the housing market is on much firmer footing than it was in 2008.”
Bruce and Aaron Norris will be hosting a Florida Boot Camp in Fort Myers Florida August 15-16.
Bruce Norris will be presenting his latest talk 10 Decisions To Make Before The Next Downturn with InvestClub on Wednesday, August 21.
Aaron Norris will be presenting his latest talk Innovative Real Estate Marketing with WEREP on Friday, August 23.
The electrifying factor affecting your property’s value. Builder confidence continued to remain strong, coming in at 67 for the month of August. Home remodeling increased drastically over 5 years by 30%
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