by Phyllis Rockower | Aug 2, 2013 | Housing News
From a recent LA Times article “After buying tens of thousands of single-family homes in beaten-down markets, major investment firms have quickly become major landlords” New research from Morgan Stanley predicts that the buy-to-rent sector will grow from $17...
by Phyllis Rockower | Jul 31, 2013 | Housing News
[highlight bg=”#fff199″ color=”#000000″]What’s the real estate market doing now?[/highlight] Lots of contrasting trends. On one hand,Notices of default are up 39% . But houses actually getting foreclosed on fell 28% from the prior quarter as...
by Phyllis Rockower | Jul 13, 2013 | Housing News
The average 30 yr mortgage rate jumped to 4.51% for the seven-day period ending on July 10th. That is an increase from 4.29% a week earlier and 3.98% for the second week in June. The higher rates increased monthly principle and interest payments by roughly 6.5%....
by Phyllis Rockower | Jul 10, 2013 | Housing News
A rule of thumb holds that every one percentage point increase in interest rates reduces affordability by 10%, so the recent move in rates just made homes about 10% more expensive to buyers who need to finance their purchase. “There’s no one in the business right now...
by Phyllis Rockower | Jul 9, 2013 | Housing News, Uncategorized
CoreLogic said today that completed foreclosures ticked up slightly in May compared to April, but the number of homes in process of foreclosure, the foreclosure inventory, was down to about the same degree. Both completed foreclosures and the inventory are lower by...
by Phyllis Rockower | Jul 2, 2013 | Housing News
The pendulum is swinging back again. After years of scrooge like actions by the banks, things are changing. Rates are up to 4.6% for a 30 year fixed. If you hear lower rates quoted its because they are charging lots of points and fees. That’s the difference between...
