This week in rental property, 30-year fixed mortgage rates remained at the highest level of the year, at 3.87 percent. CNBC covers how the market is responding to the upward trend of the rates. Business Insider compares the behavioral difference of homeowners of today and the past. With the rate on the rise, U.S. News & World Report says that now is the time to refinance mortgages and presents 11 steps to how to do it. Next, we take a look at the shift happening in single-family rent properties. Realtor.com released a report on 20 hottest U.S. real estate markets for buyers and sellers based on visits and searches. CNN gives an insight on why Denver has become the hottest city in U.S. real estate market.
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Mortgage Rates Update
- Fixed mortgage rates remained at 3.87 percent this week showing no sign of dropping: http://www.washingtonpost.com/blogs/where-we-live/wp/2015/06/04/fixed-mortgage-rates-hold-steady/
Mortgage rates: ‘Definitely in panic mode’
- “Definitely in panic mode,” said Matt Weaver, senior mortgage loan originator with PMAC Lending Services. “A lot of refinance clients are moving to locks immediately because the Fed talk is starting to be an eye opener for everyone”: http://www.cnbc.com/id/102733866
A critical difference between the US housing market today and during the bubble
- Even though the mortgage rates are climbing, they are still at historically lows. Homebuyers appear to be taking advantage of that by locking them in with fixed-rate mortgages. Critically, these homeowners are much better prepared for rate hikes should they come: http://www.businessinsider.com/demand-for-arms-have-collapsed-in-mortgage-lending-2015-6
A Complete Guide to Refinancing Your Home Mortgage
- If you’re paying an interest rate of more than 5 percent, now may be the time to refinance your home mortgage. Here are 11 steps to help you navigate the refinance process: http://money.usnews.com/money/personal-finance/articles/2015/06/04/a-complete-guide-to-refinancing-your-home-mortgage
Single-family rental properties shed stigma and become increasingly popular option
- According to the National Multifamily Housing Council, 35 percent of renters live in a single-family home, trailing just behind the amount of people living in multifamily unit buildings of five or more units. With home prices having fully recovered in many areas of the nation, the investor activity in single-family homes has shifted in 2015: https://www.inman.com/2015/06/01/single-family-rental-properties-shed-stigma-and-become-increasingly-popular-option/
The 20 Hottest U.S. Real Estate Markets in May 2015
- Economists at realtor.com have ranked the nation’s 20 hottest real estate markets for buyers and sellers. Looking at the nation’s 300 largest markets, the team used the number of views per listing on realtor.com to gauge demand, and the median age of inventory to assess supply: http://www.realtor.com/news/trends/hottest-real-estate-markets-may-2015/
The Pot Effect on Denver’s Housing Market
- One factor driving the demand: pot. The budding industry has impacted home prices since the state legalized marijuana in 2012. It may not be the only thing driving the market, but it has contributed to job growth in the area has people flocking to Denver: http://money.cnn.com/2015/06/04/real_estate/marijuana-denver-housing-market/
