San Diego home prices were up 0.3 percent in August from July, mirroring the national average, the S&P/Case-Shiller Home Price Indices released Tuesday showed.
Year over year, San Diego home prices were up 6 percent — outpacing New York City, Phoenix, Chicago and the national average.
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Monday, November 9, 2015
More Home Buyers Bypass Banks for Loans
Home buyers increasingly are turning to independent mortgage companies for their loans, not traditional banks.
According to data from the Federal Reserve, in 2014, nondepository independent mortgage companies originated 47 percent of completed home-purchase loans and 42 percent of refinance loans – up from 43 percent and 31 percent, respectively, from 2013. That also represents the largest share of the mortgage market held by non-banks since 1995.
LINK HERE
According to data from the Federal Reserve, in 2014, nondepository independent mortgage companies originated 47 percent of completed home-purchase loans and 42 percent of refinance loans – up from 43 percent and 31 percent, respectively, from 2013. That also represents the largest share of the mortgage market held by non-banks since 1995.
LINK HERE
The Housing Recovery’s Missing Link
The declining number of first-time home buyers in the market is the major missing piece in the housing recovery, says Lawrence Yun, the chief economist for the National Association of REALTORS®.
Despite an uptick in home sales over the past year, the share of first-time home buyers in the housing market dropped for the third consecutive year, and remains at its lowest point in nearly three decades, according to the NAR 2015 Profile of Home Buyers and Sellers report.
LINK HERE
Despite an uptick in home sales over the past year, the share of first-time home buyers in the housing market dropped for the third consecutive year, and remains at its lowest point in nearly three decades, according to the NAR 2015 Profile of Home Buyers and Sellers report.
LINK HERE
Home Sellers Net Highest Profits in 8 Years
Rising home prices over the last few years are finally putting more money back into home sellers’ pockets. Home owners who sold during the third quarter saw an average price gain of $40,658 – or 17 percent – from the purchase price of their property – the highest average price increase for sellers since the third quarter of 2007, according to RealtyTrac’s Third Quarter 2015 U.S. Home Sales Report.
LINK HERE
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More Sellers, Buyers Say: We Need an Agent
Fewer home sellers and buyers are opting to navigate their home sale or purchase on their own, according to the National Association of REALTORS®’ 2015 Profile of Home Buyers and Sellers report. Nearly 90 percent of respondents surveyed say they worked with a real estate agent to buy or sell a home.
LINK HERE
LINK HERE
Here It Comes: Mortgage Rates Are Climbing
Average fixed-rate mortgages were on the rise this week as market expectations mounted over a possible rate hike from the Federal Reserve. Those expectations pushed the 30-year fixed-rate mortgage to its largest increase since June, up 11 basis points to 3.87 percent, Freddie Mac reported in its weekly mortgage market survey.
LINK HERE
LINK HERE
Study: Mortgage denials down for most
It was easier for San Diegans as a whole to get a mortgage last year, including most minorities, but African-Americans still have a tougher time, yearly mortgage data released Thursday showed.
In 2014, 10.2 percent of county residents were denied mortgages — down 0.4 percent — but African-Americans were denied 15.2 percent of the time, an increase in rejections of 2.1 percent from the last year, according to Zillow.
LINK HERE
LINK HERE
Sunday, November 1, 2015
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