According to the Central Valley Business Times, California single-family and condominium sales, including distressed and non-distressed properties, declined 1.8% in August from July, while increasing 1.5% year-over-year.

“What caught my eye this month is both sales volume and prices fell simultaneously for the first time since January,” says Madeline Schnapp, director of economic research for PropertyRadar. “The pop in borrowing costs beginning mid-June has definitely impacted market activity, reducing demand and pushing down prices.”

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Congressional vote on “de facto QM Patch” postponed

The House Financial Services Committee postponed a vote on H.R. 2445 on Wednesday, a bill that would fix the so-called QM Patch that’s set to expire in early 2021.

Nov 15, 2019 By