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| 12-7-2018 |
| UP AGAIN Home appreciation is up again, gaining 5.4% year-over-year in October according to the latest CoreLogic Home Price Insights (HPI). Prices were also up .5% month-over-month, but CoreLogic forecasts the November numbers will show negative gains. Despite higher mortgage rates and declining affordability, CoreLogic Chief Economist Frank Nothaft says, “Many renters view a home purchase as a way to build wealth through home-equity growth.” |
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| STAYING STEADY Freddie Mac reported a zero-percent change in rates for the 30-year fixed rate mortgage in its Primary Mortgage Market Survey for the week ending November 29. Recent trends show rates stabilizing as a result of trade concerns and weakening indicators in the auto and new home segments of the economy. The number of mortgage applications rose for the second consecutive week as a result, according to the Mortgage Bankers Association. |
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| COSTLY CREDIT Late credit card payments will cost more in 2019. Rates for first-time and subsequent tardy payments will rise $1 each next year to $39 and $28, respectively. The Credit Card Accountability Responsibility and Disclosure Act of 2009 – also known as the Credit CARD Act – permits watchdog agency Consumer Financial Protection Bureau to adjust ceilings for late fees on an annual basis. |
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| SENIOR HOUSING? In an attempt to address its worsening housing affordability crisis, Denver is “thinking outside the zoning box.” Government-sponsored entity Fannie Mae will fund a pilot program in the city that will permit property owners to install and rent out Auxiliary Dwelling Units (ADUs) to create more housing options, revenue streams for low-income homeowners and combat skyrocketing rents. ADUs are also known as “mother-in-law suites” or “granny flats.” |
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| *The views, articles, postings and other information listed on this website are personal and do not necessarily represent the opinion or the position of American Pacific Mortgage Corporation. |
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