Category: Housing Market

Rental Boom Will Lead to Homeownership Rebound

By Ryan Jackson The boom in new apartment rental construction will lead to a rebound in homeownership, according to UCLA real estate economist David Shulman. The researcher made the prediction in the university’s Ziman Center real estate economist letter. “After an agonizing six year decline where nearly $7-trillion of wealth was destroyed, the housing economy… Continue reading Rental Boom Will Lead to Homeownership Rebound

Seismic Shift in U.S. Restrains Housing Market

By Kevin Chiu Consumer doubts over the banking system, political divisions in Washington, D.C., nagging high unemployment, a growth in the understanding among the U.S. population of political corruption and doubts about the economy are developing a seismic shift in the housing market. The shift has slowly been taking place for more than ten years,… Continue reading Seismic Shift in U.S. Restrains Housing Market

Overwhelming Majority Favor Homeownership

By Mike Colpitts An overwhelming majority favor homeownership over renting despite the housing downturn, according to a new study. The results were found as part of a Fannie Mae survey that asked a variety of questions revolving homeownership and the economy. An astonishing 85% of respondants said they favor homeownership over renting based on the… Continue reading Overwhelming Majority Favor Homeownership

Mortgages Slow Despite Rate Drop

By Ryan Jackson A drop in mortgage rates did little to slow another decline in mortgage applications for the second straight week, according to the Mortgage Bankers Association. Home loan applications fell as interest borrowing rates on the 30-year fixed rate mortgage decreased to an average of 3.80% on fully executed mortgages. The drop in… Continue reading Mortgages Slow Despite Rate Drop

Foreclosures Sell 32% Under Rest of Market

By Mike Colpitts Foreclosures or bank owned homes sold at an average discount of 32% below similar homes in the same neighborhood during the second quarter of the year, according to RealtyTrac. The price was two percent lower than a year ago. Foreclosure sales accounted for 23% of all U.S. residential sales during the second… Continue reading Foreclosures Sell 32% Under Rest of Market

Pushed by Treasuries, Mortgage Rates Jump

By Mike Colpitts Pushed by higher yields paid for U.S. Treasuries, mortgage rates jumped for the fourth straight week as mixed economic news sent investors scurrying to the bond market for more secure investments. The rate on the fixed 30-year mortgage rose four basis points to average 3.66% from 3.62% a week ago. The Freddie… Continue reading Pushed by Treasuries, Mortgage Rates Jump

Mortgage Delinquencies Drop Two Straight Months

By Mike Colpitts Mortgage delinquencies fell for the second consecutive month in July and are down 11% for the last year, signaling a major improvement for the U.S. housing market, according to Lender Processing Services. Loans that are 30 days or more past due made up just 7.03% of home mortgages. The decline in late… Continue reading Mortgage Delinquencies Drop Two Straight Months