Real Estate News For July 25 2016

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Real Estate News For July 25 2016

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Here is Real Estate News For You This Monday  July 25, 2016.

Black Knight Financial Services released it’s latest Mortgage Monitor report and its shows:

  • 38 million borrowers now have at least 20% equity in their homes, at an average of $116,000
  • 2.8 million borrowers remain in negative equity, down 13% from last year
  • Cash-out refinances made up 42% of all refinance transactions, $20 billion in equity extracted

To see the complete report click here.

Real estate sales are still increasing across the states and Akin Oyedele a reporter at Business Insider explains what’s going on in detail in this article from Business Insider. Here is the link

The Title Report also just released an article regarding real estate still pushing higher. Here is the article.

On Sunday HUD released it’s New Residential Construction report. It shows that building permits for June 2016 are 1.5% higher than the previous month at 1,153,000 permits issued, but that is still down 13.6% from the previous year. (another reason why existing hoe sales are pushing higher). The complete HUD report is available here.

Will FED Raise Interest Rates

According to  the FED is likely to leave interest rates unchanged. Janet Yellen will lead the group’s upcoming 2-day meeting in Washington.

The complete article.

Quicken Loans now offers a mortgage with a 1 percent down payment option. Qualifying buyers can put down as little as 1% down while gaining 3 percent equity in the home you purchase. Visit Quicken Loans for the exact details, but your credit score (680 or better) needs to be  good, Quicken will roll the 2 percent into the money you borrow and you now have a loan with 3%. This works for single family homes or condo’s.

Monday Real Estate News is brought to you by and (coming soon).

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Milton Weiss
Born in cold country up north, I never was happy being cold. Finished college and left for warmer weather and landed in the Caribbean for many years. Met my wife there, had a happy life there and then moved to Palm Beach County, Florida, where we still have a happy life. Warm weather, the sun, and the ocean flow through my body. I hope to bring some of that energy to you.

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