NOTE: I’m having trouble with my video editing software so no video until next week. -John


 

More Cash-Out Refis

U.S. Real Estate Week
Sat, Feb 6, 2016

Zillow: Mortgage rates drop to lowest level since 2013 | HousingWire

  • Despite some predictions that mortgage interest rates would rise in the aftermath of the Federal Open Market Committee’s December announcement of an increase to the federal funds rate for the first time since June 2006, the exact opposite has happened, with interest rates falling to a two-year low, according to a new report from Zillow.

Owners cautiously taking cash out of homes | CNBC

  • 42 percent of mortgage refinances last fall involved borrowers taking cash out of their homes, not just lowering their interest rates.
  • That is the highest share since 2008

Black Knight: Will homebuying become unaffordable in two years? | HousingWire

  • “We see that in two years home affordability will be pushing the upper bounds of that pre-bubble average.”
  • “… eight states would be less affordable than 2000-2002 levels within 12 months and 22 states would be within 24 months”

The Return of Alt-A? | CalculatedRISK

  • These mortgages, which are given to borrowers that can’t fully document their income, helped fuel a tidal wave of defaults during the housing crisis and subsequently fell out of favor.
  • Now, big money managers including Neuberger Berman, Pacific Investment Management Co. and an affiliate of Blackstone Group LP are lobbying lenders to make more of these “Alt-A” loans …

Introducing Redfin Real-Time | Redfin

  • With the launch of the Redfin Data Center, you can now visualize and download our real estate market data, which includes home prices, home sales and how many homes have hit the market.

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