This Week in Rental Property – July 18, 2015

This week in rental property, 30-year fixed mortgage rates rose to 4.09 percent. With home prices rising back to its pre-recession state, limits on jumbo mortgages for single-family residence may be raised for the first time in a decade. Forbes conducted a talk on how the SCOTUS ruling on same-sex marriage will affect the housing market. Though it was released in May, we thought it was worthwhile to note the Federal Reserve Bank of New York’s SCE Housing Survey for 2015. CNBC cited US housing starts has rebounded in June with a eight-year high building permits. Head of real estate at Blackstone, Johanthan Gray, said real estate boom is not over yet based on current circumstances.



Volatile Mortgage Rates Bounce Higher This Week

Economic uncertainties around the world have led to volatility in mortgage rates. Although the long-term trend has them moving higher, home loan rates have been rising and falling from one day to the next recently. This week, the 30-year fixed-rate average rose to its highest point in nine months, according to the latest data released Thursday by Freddie Mac. It topped out at 4.09 percent with an average 0.6 point. (Points are fees paid to a lender equal to 1 percent of the loan amount.):


Mortgage Limits May Increase

Jumbo mortgages for single-family residences exceed $417,000 in most parts of the country and $625,500 in high-price markets. But with home prices climbing back to prerecession peaks in some markets, baseline jumbo thresholds may be raised for the first time in a decade:


How The SCOTUS Ruling On Same-Sex Marriage Will Affect The Housing Market

Joseph Rand is the Managing Partner of Better Homes and Gardens Rand Realty. In addition to being an attorney, he clerked in the Second Circuit Court of Appeals and has taught at Stanford Law School, Brooklyn Law School and Fordham Law School. He is an expert in real estate law, and a respected real estate educator and an active blogger for the Market Intelligence Blog and the real estate education blog The World’s Best Real Estate Agent. Together we discussed the results of the Better Homes and Gardens Real Estate and NAGLREP first-of-its-kind national LGBT study dedicated to homeownership:


Survey of Consumer Expectations Housing Survey 2015

The SCE Housing Survey – 2015 indicates that attitudes toward housing as a financial investment remain decidedly positive. U.S. households, on average, expect home price growth to continue at a 4.4 percent pace over the next year, comparable to the average year-ahead expectation reported in last year’s survey. Survey respondents expect mortgage rates to increase in coming years, but at a moderate pace. Among homeowners, the expressed likelihood of investing in improvements to the home has declined somewhat relative to last year. Most renters report that they would rather own than rent if they had the necessary financial resources; as in last year’s survey, a majority of them believe that it would be difficult to obtain a mortgage, although responses suggest a slight easing in perceived credit access:


Strong US Groundbreaking, Building Permits Boost Housing Outlook

U.S. housing starts rebounded strongly in June and building permits surged to a near eight-year high, pointing to a rapidly strengthening housing market. Groundbreaking increased 9.8 percent to a seasonally adjusted annual pace of 1.17 million units, the Commerce Department said on Friday:


Real Estate Boom Not Over, Blackstone Expert Says at Alpha

U.S. commercial real estate is the midst of a big foreign investment boom that is likely to continue, according to one prominent expert. China is leading the boom, but money also is coming from Canada, Norway, the Middle East and elsewhere, Jonathan Gray, global head of real estate at Blackstone, said at the Delivering Alpha conference presented by CNBC and Institutional Investor. While under other circumstances a big inflow of foreign capital might indicate the market was about to hit a top, Gray said that’s not the case this time around:

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