Mortgage and Real Estate News: June 2016

Sunday, June 26, 2016

U.K.’s sovereign credit rating outlook lowered to ‘negative’ at Moody’s

Moody's Investors Service on Friday changed the outlook on the U.K.'s long-term issuer and debt ratings to negative from stable after voters opted to leave the European Union.

Saturday, June 18, 2016

You'll soon be able to buy a HomeKit-powered ‘Apple House'

New homebuyers today have many things to choose from: wood floors or tile, granite or stainless steel countertops, central air or window units. But later this year, you'll be able to decide if you want to make your space a fully Apple-supported smart home, built from the ground up.

China home prices rise faster in May as smaller cities join rally

HONG KONG: Sizzling home price rises in China's biggest cities showed signs of easing in May but sharp gains appeared to be spreading to smaller cities, making policymakers' job harder as they look to support the faltering economy without inflating bubbles.

5 Ways You Didn't Know You Could Save For A Down Payment

Buying your first home conjures up all kinds of warm and fuzzy emotions: pride, joy, contentment. But before you get to the good stuff, you've got to cobble together a down payment, a daunting sum if you follow the textbook advice to squirrel away 20% of a home's cost.

Wall Street is divided on the 2016 election

In a business that leans decidedly conservative, many are saying the divide about which candidate...

Saturday, June 4, 2016

Metro Phoenix housing market has best month in a decade

April just might have been the best month for metro Phoenix's housing market in a decade.

A look at key indicators and some national rankings show why the Valley's housing market appears to be stronger than it's been since the boom and crash.

How much a decent apartment costs you in every county

A decent two-bedroom rental today will cost you on average more than you could afford working full time on the local minimum wage everywhere in America — in every state, every county, every metropolitan area. No matter how you draw the geography. Whether you live in Sioux Falls or San Francisco.

Agents Say Real Estate Market Isn't as Fun as It Used to Be

Real estate agents are flummoxed by a housing market that's still trying to recover a decade after its historic collapse.

Agents are getting higher commissions as home prices rise, but have fewer houses to list because homeowners are reluctant to sell. Many owners don't want to put their homes on the market until they have more equity to use toward higher-priced properties, agents say. And the uncertain economy has left owners inclined to hold on to their homes. Meanwhile, there are more agents in the market competing for commissions than even just a few years ago.

HUD funding cuts could hurt homeless Valley veterans, families

A month after the federal Department of Housing and Urban Development abruptly defunded seven Valley transitional-housing agencies, tentative crisis-response plans are emerging.

Thursday, June 2, 2016

Payday Loans’ Debt Spiral to Be Curtailed

The payday loan industry, which is vilified for charging exorbitant interest rates on short-term loans that many Americans depend on, could soon be gutted by a set of rules that federal regulators plan to unveil on Thursday.

People who borrow money against their paychecks are generally supposed to pay it back within two weeks, with substantial fees piled on: A customer who borrows $500 would typically owe around $575, at an annual percentage rate of 391 percent. But most borrowers routinely roll the loan over into a new one, becoming less likely to ever emerge from the debt.

Read more...Payday Loans’ Debt Spiral to Be Curtailed - The New York Times

Wednesday, June 1, 2016

Q1 2016 U.S. Home Flipping Report

IRVINE, Calif. – June 2, 2016 — RealtyTrac® (www.realtytrac.com), the nation's leading source for comprehensive housing data, today released its Q1 2016 U.S. Home Flipping Report, which shows that 6.6 percent (43,740) of all single family home and condo sales in the first quarter of 2016 were flips, a 20 percent increase from the previous quarter and up 3 percent from a year ago to the highest rate of home flips since the first quarter of 2014.

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