W. J. Mencarow

Report: Dem-run Cities Top List of Places Homebuyers Want to Leave

Economy / By

Published by FOX Business | December 1, 2022 Homebuyers are looking to relocate from two expensive California cities more than any other major metro in the U.S.  A new Redfin report found buyers were looking to leave San Francisco and Los Angeles, with 24% and 20% of local users searching elsewhere, respectively. “Homebuyers typically leave expensive coastal …

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MBA Predicts Mortgage Rates To Stay Near 6.7% Through End Of Year

Economy, Interest Rates / By

Published by Forbes.com | November 30, 2022 Data suggest mortgage rates may not be as volatile in the last month of the year. The latest data from the Mortgage Bankers Association released this morning shows mortgage applications still continue to decrease from the highs they saw a year ago, but several economic signs suggest interest …

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Home Prices Plunge In Pandemic Boomtowns As The Market Slumps

Economy / By

Published by Forbes.com | November 28, 2022 Places where home prices shot up due to out-of-towners moving in with big budgets are now seeing prices rapidly decline. Home-price growth has slowed fastest in pandemic boomtowns including Phoenix, Austin, Texas and Boise, Idaho as high mortgage rates and an uncertain economy deter would-be buyers. This is …

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Rental Price Growth Slows To The Lowest Level In 18 Months

Economy, Rental Property / By

Published by Forbes.com | November 18, 2022 The median rent in the top 50 metros in October was $1,734, down $25 from September. Renters throughout the country are finally seeing a bit of relief when it comes to the seemingly relentless pace of rent growth. The Realtor.com October Rental Report details the shifting marketplace reality. …

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Affordability Squeezing Homebuyers’ Wallets as Builders Face ‘Worst-Case Scenario’

Economy, Mortgages / By

Published by FOX News | November 17, 2022 Redfin reports homebuyers need to make at least $107K annually to afford typical U.S. home The leader of the nation’s largest trade association for homebuilders has warned of a “worst-case scenario” facing some housing markets as homebuyers get squeezed. “Right now, in almost no market in this …

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Megalandlord in the Making: JPMorgan is About to Spend $1B on U.S. Rental Homes

Rental Property / By

Published by Business Insider | November 17, 2022 JPMorgan and Haven Realty Capital entered into a joint venture agreement on November 15 with a plan to acquire up to $1 billion in build-to-rent properties, starting in Atlanta. A new joint venture between one of America’s largest banks and a growing build-to-rent operator is the latest sign …

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Housing Agency Reports Record Financial Cushion as it Braces for Market Downturn

Economy, Mortgages / By

Published by FOX Business | November 15, 2022 FHA’s capital reserves rise to $141.7 billion, up $42 billion from 2021, giving officials room to trim mortgage costs A federal housing agency on Tuesday said its financial reserves have reached record levels and that it was well positioned to weather a mortgage-market downturn. The audit, released …

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Just How Low Will Home Prices Go This Year?

Economy, Interest Rates, Mortgages / By

Published by REALTOR.com | November 11, 2022 All eyes have been glued to mortgage rates lately as those all-important fees continue their seemingly inexorable upward march. While average rates for a 30-year fixed-rate mortgage dipped to 6.95% last week, that figure climbed back to 7.08% for the week ending Nov. 10, according to Freddie Mac. And if inflation refuses …

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Inflation Is Finally Slowing. Will Soaring Mortgage Rates Do the Same?

Economy, Interest Rates / By

Published by REALTOR.com | November 10, 2022 For would-be buyers who have had their home searches foiled or delayed by soaring mortgage interest rates, the housing market is likely to get worse before it gets better. Mortgage rates are expected to keep rising after new indicators showed that inflation rose 7.7% year over year in October, …

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