Trey Garrison was a Senior Financial Reporter for HousingWire.com. Trey served as real estate editor for the Dallas Business Journal, and was one of the founding editors of D CEO Magazine. He has been an editor for D Magazine — considered among the best city magazines in the United States — and a contributor for Reason magazine.
It’s now almost a month since the TILA-RESPA Integrated Disclosure rule went live, and the effects are being felt up and down the pipeline across a variety of services and specialties in the mortgage finance industry. This week we look at the title space. Read on.
I’m not exactly going out on a limb here with a wild bet, but I’m going to go ahead and call it that the Fed won’t be raising interest rates this week. They just don't have the will, even though they have to get it done sometime.
Join it virtually or in person, but tonight Housing and Urban Development Secretary Julián Castro joins realtor’s Chief Economist Jonathan Smoke and The Wall Street Journal’s Nick Timiraos for a virtual town hall at George Washington University.
A congressional push to limit the salaries for the CEOs of Fannie Mae and Freddie Mac moves closer this week when the House version of a bill that already passed the Senate unanimously goes to the House floor for a vote. There's little reason to expect it won't have an easy landing, but then it goes to the White House.
Sales of new single-family houses in September 2015 cratered to a seasonally adjusted annual rate of 468,000. The northeast was the hardest hit with a giant decline, but all four housing market regions saw declines from August. Here's more.
Not to sound too bleak as the leaves start turning and dying, but it’s not a pretty economic picture out there. The only thing that doesn’t look like it’s going to be slowing or dropping are FHA premiums.
Home prices were up 0.3% for the month, according to the August house price index from Black Knight Financial Services. This puts national home prices up 5.6% since the beginning of the year and 27% since the bottom of the market at the start of 2012.
Cash sales made up 30.8% of total home sales in July 2015, down from 34.2% in July 2014, according to CoreLogic. At this pace they could hit just 25% by mid-2017. Here's the breakdown and where there are still investor opportunities.
Build to rent allows investors to buy newly built homes and rent them out instead of selling them. Because the homes are new, investors are able to charge higher rent prices and tenants often stay in the home for longer periods of time. But the question remains: Why would builders move into the rental market during a time when homes are selling quickly and at higher prices than any time in the past decade?
Today the average student debt resulting from a four-year degree stands at $30,000. According to a report released by American Student Assistance in 2015, 71% of non-homeowners surveyed who carry student debt say the burden of monthly payments has kept them from purchasing a home. More than half of those say their student debt loads will likely prevent home ownership for another five years.
Currently, institutional investors control approximately 170,000 properties (a relatively small portion of the overall SFR space, which is dominated by smaller investors, and estimated to include 11 to 13 million properties). KBRA reports that 105,000 properties have been included in the 26 single-borrower deals done to date, which suggests there are somewhere north of 60,000 properties that could still be securitized.