Credit Availability Falls in July

Jumbo loan product availability continued climbing and reached an all-time high in July, but it wasn’t enough to stop overall credit standards from tightening, according to the Mortgage Bankers Association. With default risks rising and mortgage rates falling, lenders pulled back available credit in the market. After leveling off in June, the MBA’s Mortgage Credit Availability Index declined 0.4% to […]

Mortgage Rates Plunge to Lowest in 33 Months

Driven down by worries about a trade war with China, mortgage rates have sunk to multiyear lows. According to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate average tumbled to 3.6 percent with an average 0.6 point. (Points are fees paid to a lender equal to 1 percent of the loan amount and are […]

Downpayment Issues Leads Millennials to Seek FHA Loans

The Federal Housing Administration program insured three-quarters of the mortgages obtained by millennial homebuyers as most had trouble saving up for a 20% down payment, according to a study by online financial marketplace LendEDU. The average down payment was just 16%, according to the survey of 1,000 people between the ages of 23 and 38. Of the […]

Mortgage Rates Falling…for the Wrong Reasons

For the most part, economists aren’t prone to hyperbole. Even in the midst of the historic financial collapse of 2008, they managed to speak in measured tones. Yet, there were several dire warnings this week about the economic dangers posed by President Donald Trump’s ramped-up trade war with China. After Trump announced in a tweet last week […]

Is A Recession Coming?

The latest eruption in the U.S.-China trade dispute pushed a widely watched Treasury-market recession indicator to the highest alert since 2007. Rates on 10-year notes sank to 1.74% on Monday, close to completely erasing the surge that followed President Trump’s 2016 election. In early trading, they fetched as much as 32 basis points less than […]

Connecticut Home Sale Fall 11th Month In A Row

Connecticut single-family home sales fell in June, the 11th consecutive monthly decline, as the median sale price also dropped, according to a report Tuesday. The number of single-family home sales totaled 3,516, down 7.1% from June 2018, according to The Warren Group, which tracks housing trends in New England. It collects data from land record […]

NY New Rental Laws: Suppressing Multifamily Lending?

Values on rent-regulated buildings in New York City have plummeted in the roughly two months since New York Gov. Andrew Cuomo signed sweeping new rent-control restrictions into law, and that could be troubling for some of the city’s largest multifamily lenders. David Chiaverini, an analyst at Wedbush Securities, said Wednesday that values on rent-regulated apartment […]

Freddie Mac’s 2Q Earnings

If 2018’s second-quarter net income of $2.5 billion was “boring,” then this year’s $1.5 billion must feel downright mundane. However, David Brickman, Freddie Mac’s new CEO, sees the stable revenue as a position of strength. On his inaugural earnings call as CEO, Brickman touted the “continuity and consistency” with the GSE’s growing track record of returns and […]

Best Places to Flip Houses

A new study from WalletHub has named Sioux Falls, S.D., as the best U.S. city for aspiring house flippers. WalletHub focused on 172 cities and culled its data from 29 indicators covering housing market potential, costs and the local quality of life. Joining Sioux Falls in the top 10 list was Missoula, Mont.; Rapid City, S.D.; Billings, Mont.; […]

Is Your Property Value Declining?

In the next year, 5% of U.S. markets are predicted to depreciate, with Louisiana holding on to its title as the state with the most depreciating markets, claiming four of the 10 spots on the bottom market list. Connecticut and Arkansas each contribute two markets to the Bottom 10 markets for home price appreciation, and Illinois adds […]

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