Money Market

March 27, 2020

First-time homebuyers prefer lower interest rates to bigger tax breaks

money market low interest rates mortgage

Forget a two-car garage and a white picket fence — first-time homebuyers want lower interest rates.

A recent Redfin survey of homeowners who purchased their first home within the prior 12 months found lower interest rates were highest on first-time homebuyers’ wish lists. Of the first-time homebuyers surveyed about what ...

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March 23, 2020

National Market Update Week of March 23, 2020

NATIONAL MARKET UPDATE


 

Entering the economy's coronavirus contraction, February Housing Starts showed strength, off 1.5% after January's large upward revision, but up 39.2% from a year ago, at a 1.599 million annual rate.

Single-family starts shot up 6.7% at the fastest pace since ...

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March 18, 2020

Recovery News in Coronavirus

-China has closed down its last coronavirus hospital. Not enough new cases to support them.

 

- Doctors in India have been successful in treating Coronavirus. Combination of drugs used: Lopinavir, Retonovir, Oseltamivir along with Chlorphenamine. They are going to suggest same medicine, globally.

 

- Researchers of the Erasmus Medical Center ...

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March 9, 2020

National Market Update Week of March 9, 2020

NATIONAL MARKET UPDATE

Freddie Mac's Primary Mortgage Market Survey reported the national average 30-year fixed mortgage rate hit "the lowest level in its nearly 50-year history," as noted by their chief economist. 

He added that mortgage applications are up 10% from a year ago "and show no signs ...

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March 6, 2020

Welcome to the month of March

If you look carefully at the last couple of weeks, there’s been a little turbulence in almost everybody’s lives. Between the coronavirus … the stock market adjusting … the overall interest in the Democratic potential candidate … the extremely low inventory that most of North America is experiencing … remaining ...

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March 2, 2020

National Market Update Week of March 2, 2020

What a week for home sales data! New Home Sales spiked 7.9%, to a 764,000 annual rate in January, the hottest sales pace since 2007. Single-family home sales are now a healthy 18.6% higher than a year ago.

For existing homes, the National Association of Realtors ...

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Feb. 24, 2020

National Market Update Week of February 24, 2020

January Housing Starts dipped 3.6%, but were still up 21.4% from a year ago. Starts rose in the Northeast and West, falling only in the Midwest and South. The 1.567 unit annual rate was the second highest since 2006.

For two months now, starts have hit the 1.5 ...

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Feb. 18, 2020

National Market Update Week of February 17, 2020

A new industry survey found nearly half of all current homeowners plan to move this decade. That should allay concerns that the housing market might stagnate from too many Baby Boomers aging in place.

The Mortgage Bankers Association reports the spring homebuying season has officially begun. Last month was ...

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Feb. 14, 2020

Market Data Report for Palos Verdes Peninsula: January 1st - January 31st 2020

Feb. 11, 2020

National Market Update Week of February 10, 2020

Builder confidence hit 75 in December, a ten-year high. So it was no surprise that residential construction spending rose 1.4% for the month. This should start to relieve the tight supply in many markets.

That's important as buyer demand increases. Black Knight's latest Mortgage Monitor notes ...

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