TPS Weekly - October 24th, 2018

The Best Weekly Curation of Real Estate and Mortgage News

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The Best Weekly Curation of Real Estate and Mortgage News

October 24th, 2018


Hiking Up Mortgage Payments

Rate hikes and home price growth in 2018 have resulted in adding more than $300 in monthly mortgage payments in certain markets in the U.S. READ MORE

Home Equity Has Come ‘roaring back’ from the Recession — and Owners are Poised to Tap it

The amount of home equity that consumers are sitting on has been rising steadily since it hovered at around $6 trillion from 2009 through 2011. READ MORE

Home Buyers Need 7.2 Years to Save Down Payments – 1.5 Years More Than in 1988

Turns out those record home values have outstripped incomes at such a pace that it would take much longer for a first-time buyer now to save for a down payment, even if their savings rates matched that of buyers decades ago. READ MORE

U.S. Housing Supply Posts First Annual Gain in 3 Years

Home sales declined in 50 of the 71 largest metro areas that Redfin tracks. In metros where high home prices have already pushed buyers to their financial limits, rising mortgage rates may be dampening demand. READ MORE
World Property Journal

Nearly 4M to Get a Credit Boost: Good for Mortgages?

Many consumers may see their credit scores move higher, following an announcement on Monday from FICO, a leading credit scoring company. 
Realtor Magazine

Confidence Among Remodelers Remains Solid

NAHB’s Remodeling Market Index (RMI) posted a reading of 58 in the third quarter of 2018, remaining stable from the previous quarter. READ MORE

2018 Migration Trends Accelerate as More People Look to Leave Denver, San Francisco, and Los Angeles

As mortgage rates climb, affordability in the most expensive markets has suffered, driving more people to affordable, low-tax inland job centers in states like Florida, Texas and Tennessee. READ MORE

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