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Bank of America Zero Down Payment Mortgage a Potential Boon for Minority Buyers
The path toward homeownership is no cakewalk, but history and data have shown that it can be arduous for specific demographics, particularly among Black and Hispanic buyers. While the racial homeownership gap won’t close overnight, steps by Bank of America could help push the needle in the right direction in select markets. The lender recently… […]
Saving for a Down Payment
Taking small steps such as giving up buying coffee or bringing a homemade lunch to work can help potential homebuyers put aside thousands without making huge lifestyle sacrifices www.nar.realtor – Real Estate Story Ideas
Q2 GDP Forecasts: Revised Down, under 10%
From BofA: The construction spending data sliced another 0.5pp from 2Q GDP tracking, leaving us at a still impressive 9.5% qoq saar . [July 2 estimate] emphasis added From Goldman Sachs: We left our Q2 GDP tracking estimate unchanged at +8.5% (qoq ar) . [July 2 estimate] From the NY Fed Nowcasting Report The New […]
May 2021 Existing-Home Sales Down for Fourth Straight Month as Home Prices Hit Historic High
Existing-home sales data show that housing market activity in May 2021 fell 0.9% from April 2021, but rose 44.6% year-over-year. www.nar.realtor – Research
Homebuilding Dragged Down by Supply Problems; Rates Are Flat And Calm
Housing starts fell back from the annual rate of 1,733,000 units reported for March. Residential starts in April were down 9.5 percent to a seasonally adjusted annual rate of 1,569,000 units. This was also a slight rollback for the March estimate, which was originally reported at 1,739,000 million units. At that level, they were the […]
Economist calls for calm on inflation talk: ‘Everything ultimately will settle down’
The concentration of price pressures in a handful of categories means markets shouldn’t yet be worrying about inflation after Wednesday’s U.S. surprise, economists have told CNBC….(read more) Forward this article via email: Send a copy of this story to someone you know that may want to read it. Around The Web
South Carolina Real Estate in February: Sales Up 13% YoY, Inventory Down 46% YoY
Note: I’m posting data for many local markets around the U.S. The story is the same everywhere … inventory is at record lows. From the South Carolina Realtors for the entire state: Closed sales in February 2021 were 7,127, up 13.4% from 6,284 in February 2020. Active Listings in February 2021 were 14,253, down 46.3% […]
Serious Delinquencies Set Records as Early Rates Trend Down
Extremely serious delinquencies, those loans 150 days or more past due, reached historically high levels in August. Five months into the COVID-19 crisis, Corelogic said the rate of delinquencies among those loans spiked to 1.2 percent, the highest level since at least January 1999, which we assume is the limit of the company’s records. CoreLogic […]