Mortgage rates flat, but data points to changes ahead | National Mortgage News nationalmortgagenews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from nationalmortgagenews.com Daily Mail and Mail on Sunday newspapers.
Will Lumber Prices Prick US Housing Bubble or Will Low Mortgage Rates Prevail?
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US Housing Market Outlook:
There’s a lot of chatter among market participants about the state of the US housing market, which has seen its strongest run of price growth since 2006 – right before the US housing bubble burst, which helped lead to the Global Financial Crisis.
Supply chain issues (e.g. closed sawmills) have helped lift lumber prices to all-time highs, leading to over a $35K increase in new home prices in the US since the start of 2021.
Low mortgages have kept measures of housing affordability within reason, but US Treasury Secretary Janet Yellen’s warning this week about higher interest rates are a stark warning.
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IRVINE, Calif., April 1, 2021 /PRNewswire/ ATTOM Data Solutions, curator of the nation s premier property database, today released its first-quarter 2021 U.S. Home Affordability Report, showing that median home prices of single-family homes and condos in the first quarter of this year were more affordable than historical averages in 52 percent of counties with enough data to analyze. That was down from 63 percent of counties in the first quarter of 2020 and 95 percent during the same period five years ago. But rising wages and falling mortgage rates still compensated for near-20 percent spikes in home prices over the past year, helping to keep median home prices affordable for average wage earners around the country.
Homeownership Remains Affordable For Average Workers Across Majority Of U S Despite Price Spikes prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.
LO, Ops, AE Jobs; HELOC, Efficiency, AMC, Sales, VOE Tools; Podcast for LOs; Jumbo and Non-QM News Mar 4 2021, 8:20AM
Welcome to the only day where the date is a command. Owners of shopping malls wish they could command everyone to go shopping in one. When was the last time you went into a shopping mall? I don’t remember either, and I’m starting to miss those rock-solid pretzels and henna tattoo & ear-piercing booths. Turn them into housing, affordable or otherwise? Why not?! The aggregate value of reappraised American malls fell an average of 60 percent in 2020, with 118 retail properties seeing $4 billion in value wiped out over the course of their reappraisals. Of the 1,100 indoor malls in the United States, analysts say only about half have a reasonable chance of survival. Certainly, the hundreds of thousands of loan officers hope their jobs do more than survive in 2021, and to listen to the audio version of today’s commentary with an interview