There are some that think that housing affordability is a challenge. Historically, that’s not true. Others think that home prices are approaching bubble values. If we look back over the last sixteen years, that is also not the case. As a matter of fact, the numbers show that the U.S. residential … [Read more...] about The Housing Market is Doing Just Fine
There are some industry pundits claiming that residential home values have risen too quickly and that current levels are on the verge of another housing bubble. It is easy to see how this thinking has taken form if we look at a graph of home prices from 2000 to today.The graph definitely looks like … [Read more...] about Home Values: DEFINITELY NOT in Bubble Range!!
We are often asked why there is so much paperwork mandated by the bank for a mortgage loan application when buying a home today. It seems that the bank needs to know everything about us and requires three separate sources to validate each and every entry on the application form.Many buyers are being … [Read more...] about Why Is There So Much Paperwork to Sign to Get a Mortgage?
There are many benefits to homeownership. One of the top ones is being able to protect yourself from rising rents and lock in your housing cost for the life of your mortgage.Don’t Become TrappedJonathan Smoke, Chief Economist at realtor.com, reported on what he calls a “Rental Affordability Crisis.” … [Read more...] about Don’t Get Caught in the Rental Trap!
Some Highlights:The concept of Supply & Demand is a simple one. The best time to sell something is when supply of that item is low & demand for that item is high!Anything under a 6-month supply is a Seller’s Market!There has not been a 6-months inventory supply since August 2012!Buyer Demand … [Read more...] about How Supply & Demand Impacts the Real Estate Market [INFOGRAPHIC]
Some industry pundits are saying that the housing market may be heading for a slowdown. One of the data points they use is the falling numbers of the Housing Affordability Index, as reported by the National Association of Realtors (NAR).Here is how NAR defines the index:“The Housing Affordability … [Read more...] about How Scary is the Housing Affordability Index?
Many experts have been calling upon home builders to ramp up construction to help with the lack of existing inventory for sale. For the past two months, new home sales have surged, with July’s total coming in at the highest since October 2007.The latest estimates from the US Census Bureau and … [Read more...] about Housing Market Slowing Down? Don’t Tell Builders!
Posted To: MND NewsWireRather than the month-over-month decline expected, July new home sales soared above 600,000 units for the first time since late 2007. The U.S. Census Bureau and Department of Housing and Urban Development reported on Tuesday that newly constructed homes sold at a seasonally … [Read more...] about Biggest Monthly Gain For New Home Sales in 10 Years
Posted To: Mortgage Rate WatchMortgage Rates were sharply sideways today, with almost every lender offering the exact same terms as yesterday. This is part of an ongoing phenomenon that's seen rates rise just slightly from near-all-time lows in early July only to hold an intensely narrow range for … [Read more...] about Mortgage Rate Movement Nowhere to be Found
Posted To: MBS CommentaryWe might have expected a bigger movement in the wake of the colossal improvement in New Home Sales (654k vs 582k previously, 580k forecast), but bonds barely budged. In fact, the first move following the data was into STRONGER territory for bonds. Treasuries eventually gave … [Read more...] about MBS RECAP: Have You Heard The One About “The Range?”