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The Mortgage Bankers Association reported today that mortgage applications for July 2015 for new home purchases decreased by 4% relative to the previous month. It’s been dry in Texas for the last month, so how that will affect August will be telling. Spoiler: in the last week, the MBA reports apps are becoming a total non-mover. -- Trey Garrison in HousingWire http://www.housingwire.com/blogs/1-rewired/post/34755-trending-thursday-end-fannie-freddie-because-big-banks-will-fill-the-void-right
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Shared by Juwai, A Chinese developer has applied to build a 88-storey tower in Surfers Paradise located in the Gold Coast of Australia
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Average fixed mortgage rates reversing course and nudging higher for the first time in four weeks, according to Freddie Mac.
The 30-year fixed-rate mortgage averaged 3.94% with an average 0.6 point for the week ending August 13, 2015, up from last week when it averaged 3.91%. A year ago at this time, the 30-year FRM averaged 4.12%. -- Trey Garrison in HousingWire http://www.housingwire.com/articles/34754-mortgage-rates-reverse-course-moving-higher
--------------------------------------------------------With the Dodd-Frank financial reform law celebrating its fifth anniversary this month, the editors at Investor's Business Daily have offered their assessment of the Obama administration centerpiece.
The review isn't positive.
"It's a pernicious law, one that a devastating new report suggests is largely to blame for our lackluster economy," an IBD editorial states. The report was House testimony offered by American Enterprise Institute fellow Peter Wallison Tuesday. -- NewsMax Finance http://www.newsmax.com/Finance/StreetTalk/Investors-Business-Daily-Dodd-Frank-Law-Economy-Banks/2015/07/29/id/659475/
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Shared by James Harrison, Liang Old Town, China (Yunnon UNESCO Site)
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Renters can expect to pay 30.2% of their income on rent, according to a Zillow analysis of rental and mortgage affordability in the second quarter released Thursday. That is the highest percentage ever, said Zillow, which has data going back to 1979. -- Laura Kusisto in the Wall Street Journal
http://blogs.wsj.com/economics/2015/08/13/renters-spent-a-record-high-share-of-income-on-rent-this-spring/
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“The fact the builder confidence has been in the low 60s for three straight months shows that single-family housing is making slow but steady progress,” said NAHB Chairman Tom Woods, a home builder from Blue Springs, Missouri. “However, we continue to hear that builders face difficulties accessing land and labor.” -- Trey Garrison in HousingWire http://www.housingwire.com/articles/34781-homebuilder-confidence-rises-in-august-to-highest-since-november-2005
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Shared by James Harrison, taken by A Lin, Rostov Veliky was founded in 862 on the shores of the sparkling Lake Nero. The first records of Rostov Veliky originated in the 9th century. Many prominent icon painters called this city home, and their work is reflected all over Russia. The city has a lot of amazing sites but the centerpiece of this historic town is its silver-domed Kremlin, one of the most attractive in Russia.
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First-time homebuyers between 2010 and 2013 were slightly younger than in the previous four-year period, according to Zillow. -- Andy Peters in Origination News http://www.nationalmortgagenews.com/news/origination/first-time-homebuyers-slightly-younger-in-2010-2013-zillow-1059116-1.html
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Yesterday, Richard Bove, an equity research analyst at Rafferty Capital Markets, didn't mince words, saying his initial judgment of the Dodd-Frank Act as the worst piece of legislation in history was wrong: It’s actually worse than that. -- Jacob Gaffney in HousingWire http://www.housingwire.com/blogs/1-rewired/post/34812-dodd-frank-is-killing-america-one-community-bank-at-a-time
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Shared by Juwai, Gold Coast, Australia
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Today, the typical first-time homebuyer purchases a home that costs 2.6 times his or her annual income. -- Brena Swanson in HousingWire http://www.housingwire.com/articles/34809-heres-the-impact-rising-home-prices-have-on-millennials
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Josephine Country Cat
Chapter 7
Josephine and the Fireflies
https://www.createspace.com/5552704
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