07-26-2019

OWNER ACCUMULATION

Equity news keeps getting better: Average profit margins for homeowners who sold in the second quarter rose to nearly 34%, up from 31% in Q1 according to ATTOM Data Solutions. ATTOM’s Q2 2019 U.S. Home Sales Report (HSR) also showed average dollar gains over purchase price reached $67,500 during the same time period. The HSR also reported that the median sales price for homes sold in Q2 was up 10.8% from Q1 and 6.4% year-over-year.

AGENT ANGLES

The National Association of Realtors® (NAR) reports that the median existing-home price for all housing types in June reached an all-time high of $285,700, up 4.3% from June 2018 ($273,800). June’s price increase marks the 88th straight month of year-over-year gains, according to NAR’s latest Existing Home Sales report.

RATE RETURN

Mortgage interest rates trended upward after hovering at nearly the same levels for three weeks according to Freddie Mac’s Primary Mortgage Market Survey (PMMS) for the week ending July 18. Freddie Mac attributes the uptick to increased consumer spending in the wake of hints that the Fed may cut short term interest rates.

COLLECTIVE DEBT?

One in four Americans with a credit report has at least one debt in collection according to the Consumer Financial Protection Bureau. The information is from the CFPB’s Market Snapshot: Third-Party Debt Collections Tradeline Reporting, which covered 2004-18. The majority of collections were for medical and telecommunications/utilities debt, at 58% and 20% respectively.

*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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