| Good news for renters: Mortgage lenders might start considering rent payment history in credit scores. In the current system, years of monthly payments to landlords do not show up on credit-bureau files. Per The Columbus Dispatch: -- Brena Swanson in HousingWire http://www.housingwire.com/articles/30479-switching-from-renting-to-homeownership-could-get-easier ----------------------------------------- Property Tax Hikes Compound Mortgage Market's Woes |
| by BONNIE SINNOCK |
| As home prices rise and municipalities scrounge for revenue, rising property taxes make it harder for loan applicants to meet regulatory debt-to-income ratio limits and increase default risk on existing mortgages. http://www.nationalmortgagenews.com/index.html ------------------------------------------- Shared by Dieter Birr on G+, Schloß Lichtenstein  --------------------------------------------- Construction spending flat-lined in May, rising a statistically insignificant 0.1%, far below analyst expectations, according to data from the U.S. Census Bureau. -- Trey Garrison in HousingWire http://www.housingwire.com/articles/30507-construction-spending-flatlines-in-may-as-homebuilding-declines--------------------------------------------- --------------------------------------------- Shared by Uros Kralj on G+, Manhattanhenge by Justin Kiner |
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Home prices, including distressed sales, took a leap forward and increased 8.8% in May 2014 from a year ago, according to the latest home price index from CoreLogic. --Brena Swanson in HousingWire http://www.housingwire.com/articles/30504-corelogic-home-prices-surge-88
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Pending Home Sales
The housing industry picked up a little good news, with May pending home sales rising 6.1% from April, driven largely by high-end home sales and increased inventory.
However, it won’t be enough to compensate for weak pending home sales in the first part of 2014, and this year will see a decline in pending home sales from 2013.
--Trey Garrison in HousingWire http://www.housingwire.com/articles/30480-pending-home-sales-move-up-61
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Taken and shared by Jasbir Randhawa, Captured in the famed Nek Chand's Rock Garden in Chandigarh--Trey Garrison in HousingWire http://www.housingwire.com/articles/30480-pending-home-sales-move-up-61
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Nat'l Real Estate Post: A Pep Talk
In order to enjoy your hobbies and recreation time, you must discipline yourself to do what you need to do in your job/career. Choose to recreate more so that you discipline yourself more in your job.
http://thenationalrealestatepost.com/attacking-the-second-half-of-2014/?
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Sam Thompson at NorthPoint Mortgage shares:
30 Year Fixed: 4.000%
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APR 4.152%
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15 Year Fixed: 3.125%
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APR 3.313%
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7/1 ARM: 3.125%
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APR 3.534%
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5/1 ARM: 2.750%
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APR 3.340%
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FHA 30 Year Fixed: 3.750%
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APR 5.423%
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Jumbo 30 Year Fixed: 4.000%
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APR 4.177%
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Jumbo 15 Year Fixed: 3.250%
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APR 3.415%
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Jumbo 7 year ARM: 3.125%
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APR 3.626%
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Jumbo 5 year ARM: 2.875%
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APR 3.464%
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Taken and shared by Darja Vizjak, Celje, Slovenia
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A week after a free-fall of 9.2%, mortgage applications continued their decline with a 0.2% decrease from one week earlier, according to data from the Mortgage Bankers Association’s weekly mortgage applications survey for the week ending June 27, 2014. -- Trey Garrison in HousingWire http://www.housingwire.com/articles/30523-mortgage-application-decline-continues-after-last-weeks-free-fall
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Looking at historical trends, the share of adults living with their parents drops sharply after age 24 and continues to fall to 6% by the mid- to late 30s.
“Regardless of the economic setbacks they may have experienced, today’s 20–29 year olds are still likely to follow the same pattern,” the report said. -- Brena Swanson in HousingWire http://www.housingwire.com/articles/30462-millennials-not-buying-housesyet
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Shared by Uros Kralj
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Nat'l Real Estate Post:
If you haven’t heard, the Supreme Court ruled that some appointments Obama made during a congressional recess were unconstitutional. It looks to us like the appointment of Richard Cordray as head of the CFPB might be in that mix. If this is the case, what does that mean. Unconstitutional to us means illegal. So here’s the question, if it’s deemed an illegal move, then shouldn’t all those fines get paid back? Think about it. If you were in court and something like this came up, everything would be thrown out and restitution would be awarded – no question. (Write your senators and representatives to reverse the fines and fees that are unconstitutional. This what I wrote to mine: "Cordray was illegally appointed to the CFPB according to the Supreme Ct. Therefore any regulations he passed during the time before he was offically confirmed by the senate are illegal. What will you do about this and any other regulations passed during the illegal appointment times of Obama's appointees? How much do you care about the law as it applies to your constituents?" )
http://thenationalrealestatepost.com/cordray-cfpb-appointment-appears-illegal/?
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“A rise in educational attainment coupled with effects of the Great Recession are delaying millennial major life events, such as marriage and homeownership,” CoreLogic said. -- Brenna Swanson in HousingWire http://www.housingwire.com/articles/30474-where-millennials-are-putting-their-money
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Shared by BJ Bolender, An American Welcome, Old Elgin
HAPPY BIRTHDAY USA!
