This past week home loan rates ticked up, yet remain just above 3-year lows.
Here are 3 reasons why:
Solid corporate earnings and future positive guidance from many public companies were a pleasant surprise for many who were bracing for a far more disappointing outlook. As a result, Stocks moved higher last week at the expense of Bonds and home loan rates.
U.S./China trade deal optimism continues. It's been slightly over a week since the U.S. and China came to a "handshake" trade agreement, and all signs are pointing to the deal being papered and signed in the coming weeks. This once uncertain event has become quite positive, and was another reason for Bonds to move lower and rates higher.
Are you looking for something fun to do in Orange County this October and Halloween. Fun for the whole family!
Huntington Beach Oktoberfest Through Nov. 3 Every Wednesday through Sunday. Sample Imported German Beers and food. Guests can also enter the Beer Drinking & Stein Holding Contests, and of course do the Chicken Dance! Wednesday through Saturday are adult nights & Sundays are family day with Dachshund Races. Time/Place: Old World Festival Hall
Contact: 714-696-TAP1 / www.oldworld.ws
Haunt at Heritage Hill Oct. 1-12 The park will once again transform into a haunted adventure with scream zones, music, and game booths. Costumes encouraged, but no masks or face paint will be permitted to enter the event. Time/Place:
Over 10% of all residential homes are purchased by investors, and that number continues to rise. Who are these investors?
Many have speculated that the large institutional conglomerates such as Blackstone, American Homes 4 Rent, and Colony Starwood dominate investor purchases. However, a special report on investor home buying by CoreLogic, Don’t Call it a Comeback: Housing Investors Have Been Here for Years, shows this is not the case.
Ralph McLaughlin, CoreLogic’s Deputy Chief Economist and author of the report, explained his findings at the recent National Association of Real Estate Editors conference in Austin:
“Investor buying activity in the U.S. is at record highs. And our records go back confidently, about 20 years…
The Federal Reserve Bank (The Fed) recently released their 2019 Survey of Consumer Expectations Housing Survey. The survey reported that 65% of Americans believe homeownership is a good financial investment. Since 2014, the percentage has increased by over nine percent.The Fed’s survey also showed that when the results are broken down by age, education, income, or region of the country, more than 55% of Americans in each category see homeownership as a good investment.
This coincides with a recent Gallup survey of Americans which revealed that real estate was their number one choice for the best long-term investment when compared to stocks, savings accounts or gold.
It’s good to get data from all over. But somehow when you get it from the U.S. Census Bureau and the U.S. Department of Housing and Urban Development, it seems even more official.
The two entities jointly announced the following new residential sales statistics for February. A total of 667,000 new homes were sold, 340,000 of them with a median sales price of $315,300. This is 4.9 percent above the revised January rate of 636,000 and 0.6 percent above the February 2018 estimate of 663,000.
The average sales price was $379,600. The seasonally-adjusted estimate of new houses for sale at the end of February was 340,000. This represents a supply of 6.1 months at the current sales rate. The March report is scheduled for release on April 23, 2019.
In many markets across the country, the number of buyers searching for their dream homes outnumbers the number of homes for sale. This has led to a competitive marketplace where buyers often need to stand out. One way to show that you are serious about buying your dream home is to get pre-qualified or pre-approved for a mortgage before starting your search.
Even if you are not in an incredibly competitive market, understanding your budget will give you the confidence of knowing whether or not your dream home is within your reach.
Freddie Mac lays out the advantages of pre-approval in the ‘My Home’ section of their website:
“It’s highly recommended that you work with your lender to get pre-approved before you begin house hunting.
OPEN HOUSE, October 06, Saturday 12:00 PM - 4:00 PM
16727 Drury Drive, Whittier, CA
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2 BATHROOMS (2 full)
1893 Square Feet
Coveted North East Whittier single level family pool home with 3 bedrooms, 2 baths in 1893 sq. ft. of living space on a super large lot of 15,936 sq. ft. that is perfectly situated on a private cul de sac street of 16 large lot homes that is adjacent to La Habra Heights.This beautiful homes formal living room,
The interest rate you pay on your home mortgage has a direct impact on your monthly payment; the higher the rate, the greater the payment will be. That is why it is important to know where rates are headed when deciding to start your home search.
Below is a chart created using Freddie Mac’s U.S. Economic & Housing Marketing Outlook. As you can see, interest rates are projected to increase steadily over the course of the next year.
How Will This Impact Your Mortgage Payment?
Depending on the amount of the loan that you secure, a half of a percent (.5%) increase in interest rate can increase your monthly mortgage payment significantly.
According to CoreLogic’s latest Home Price Index, national home prices have appreciated 6.2%
Love landed Elinor Frerichs in a secured facility for people with dementia.
Twelve days after the death of her husband, 95-year-old Frerichs married a friend 26 years her junior, a man who watched the same TV shows and made her feel “happier than ever.”
But shortly after saying “I do,” Frerichs was placed under a court conservatorship at the recommendation of a psychologist and Adult Protective Services. She was hospitalized and her marriage was annulled — partly to shield her estate, estimated at $1 million.
Despite concerns over her mental capacity, Frerichs appeared lucid in a transcript of a rare visit with friends, vowing, “I’m not going to sit there and rot and die in that damn room.”