90 Seconds of News – Real Estate 10/17/15
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90 Seconds of News – Real Estate 10/17/15

More at http://www.realestatedecoded.com/us-real-estate-week/
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“Assuming a borrower gets the average 30-year conforming fixed rate on a $417,000 loan, last year’s rate of 3.97 percent and payment of $1,984 is $36 more than this week’s payment of $1,948.”

— Mortgage rates up slightly, but still under 4%, The Orange County Register

http://www.ocregister.com/lansner/mortgage-687721-rates-slightly.html
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““From my perspective, what we’re seeing is a marked slowdown tied to the strengthening of the dollar,” said Alicia Cervera, managing partner at the brokerage Cervera Real Estate. “The foreign buyers responded to the stronger dollar by stopping in their tracks. That’s fairly common when there’s a significant adjustment in currency.”

— Miami’s downtown building boom drawing to a close, Miami Herald

http://www.miamiherald.com/news/business/real-estate-news/article39189630.html
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“Mortgage applications tumbled 27.6% from last week, obliterating the prior week’s drastic jump in applications due to the implementation of the new TILA-RESPA integrated disclosure rule, according to the latest Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending Oct. 9, 2015.”

— Mortgage applications tumble more than 25% due to TRID, HousingWire

http://www.housingwire.com/articles/35337
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“The new policies in the handbook impose additional responsibilities and liability on the appraiser, which has led many appraisers to increase their prices to reflect the added work and risk involved and some appraisers have even chosen not to do FHA appraisals. I say risk because appraiser’s are being asked to perform a level of inspection similar to what a home inspector would do, however I believe that we should not have to do this because we are not qualified in this area.”

— How new FHA guidelines could cause appraisal costs to increase, Birmingham Appraisal Blog

How new FHA guidelines could cause appraisal costs to increase


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“Speers elaborates that many banks refuse to lend money to the marijuana industry, which means some entrepreneurs are moving to Colorado to begin their own “extralegal” marijuana farms, buying up homes to grow weed and pushing the prices up.”

— Is marijuana to blame for Denver’s housing crisis?, Realty Biz News

Is marijuana to blame for Denver’s housing crisis?


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THANKS!

John Wake
Geek-in-Chief at Real Estate Decoded
Real Estate Agent at HomeSmart
http://www.realestatedecoded.com






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