TWiRP – August 1, 2015

This week in rental property, mortgage rates fell below 4% after the Federal Reserve signaled to increase interest rates this year. CNBC cited the expected effects of the Fed’s rate hike. Once again, U.S. home rental prices rose in June with the homeownership rate down to the lowest level in 48 years. According to a study, Airbnb is making even harder to find apartments in New York City.


Mortgage Rates Fall Below 4%

Thirty-year fixed mortgage rates averaged 3.98% for the week, dropping six basis points after a roller coaster of financial and economic news on China, the Federal Reserve and the housing market:


Fed Leaves Options Open for Rate Rise

The US Federal Reserve has signalled that it remains on course to increase interest rates this year. But the central bank left its options open as to when to pull the trigger as the Fed awaits more evidence on the strength of the economic recovery:


What two Fed rate hikes could mean for markets

While consensus for the first U.S. Federal Reserve rate rise is leaning towards September, a growing number of market watchers are suggesting that, before the year is out, two interest rate hikes rather than just one could be on the cards:


US Home Rental Prices Rise Again in June

U.S. home rental prices climbed much faster than incomes in June. But there are signs of slowing momentum around major job hubs such as New York, Los Angeles and Washington:


Rental Demand Supplies Home-Building Opportunity

Right now, the rental market is extremely tight. While an improving labor market has encouraged more people to set out on their own, limited mortgage availability has made it hard to buy. The Commerce Department on Tuesday reported that the rental vacancy rate—the share of rental units that are unoccupied—fell to 6.8%. in the second quarter from 7.1% in the first quarter, taking it to its lowest level since 1985:


US Homeownership Rate Falls to the Lowest Level Since the 1960s

The share of Americans who own their homes fell to the lowest level in almost five decades, extending a multiyear decline as families struggle to regain ground lost during the financial crisis and rentals gain favor. The U.S. homeownership rate was 63.4 percent in the second quarter, down from 63.7 percent in the previous three months, the Census Bureau reported Tuesday. It was lowest reading since 1967:


Airbnb Taking Up 1 out of 5 Vacant Apartments in Popular New York City Zip Codes

Airbnb is gobbling up a huge chunk of apartments in some of the city’s hottest zip codes — snagging as much as 20% of vacancies in parts of Manhattan and Brooklyn, according to a new study by two affordable housing advocates. The East Village led the list with a whopping 28% of its units going as illegal hotel rooms on the popular home-sharing site, according to an analysis from New York Communities for Change and Real Affordability For All:


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Jiwon Park

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By Jiwon Park