Today’s News Synopsis:
Where are the most affordable places to find a home right now? Mortgage rates decreased this week with 30-year rates now at 3.24% and 15-year rates at 2.70%. Existing-home sales decreased last month according to the National Association of Realtors, dropping 17.8%.
In The News:
Freddie Mac – “Mortgage Rates Decrease” (5-21-2020)
“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 3.24 percent.”
Realtor.com – “The Most Affordable Places Where Buyers Can Still Find a Home for Sale” (5-21-2020)
“As home prices have surged over the past few years, many buyers have been chasing affordability.”
ATTOM Data Solutions – “Residential Refinance Mortgages Comprise Over Half Of Home Loans In First Quarter Of 2020” (5-21-2020)
“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 first-quarter 2020 U.S. Residential Property Mortgage Origination Report, which shows that 1.07 million refinance mortgages secured by residential property (1 to 4 units) were originated in the first quarter of 2020 in the United States.”
Inman – “How to help clients keep kids safe during the summer of COVID-19” (5-21-2020)
“With summer inching closer and the season’s activities being canceled, kids are experiencing a lot more unstructured time, and parents today are more distracted than ever.”
KOMO News – “Remote work may trigger a ‘suburban boom’ in real estate” (5-21-2020)
“With large tech companies like Amazon and Microsoft extending their work-from-home policies until the fall due to the COVID-19 pandemic, economists are predicting that real estate trends might shift and cause a “suburban boom” in the housing market.”
Mortgage Professional America – “Delinquencies post largest single-month jump in history” (5-21-2020)
“Mortgage delinquencies posted the largest single-month increase in history in April, according to new data from Black Knight.”
Curbed – “The economy is tanking. So why aren’t home prices dropping?” (5-21-2020)
“More than 38 million Americans have lost their jobs since the outbreak of the COVID-19 pandemic.”
National Association of Realtors – “Existing-Home Sales Wane 17.8% in April” (5-21-2020)
“Existing-home sales dropped in April, continuing what is now a two-month skid in sales brought on by the coronavirus pandemic, according to the National Association of Realtors®.”
Aaron Norris will be presenting his latest talk Innovative Real Estate Marketing With NorcalREIA on Wednesday, June 10.
Bruce and Aaron Norris will be presenting Keep-Sell-Create in Sacramento on Saturday, June 20.
The Norris Group presents its award-winning black-tie event I Survived Real Estate 2020 on Friday, September 18.
Do you know what an REO is? Rent price growth was stronger in March according to CoreLogic. Existing-home sales decreased 0.4% the previous month according to the National Association of Realtors.
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