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Mortgage Rates Rip To Highest Level Since July 2015

Katy Texas mortgage rates rose to their highest levels since July 2015 as we ended the week. That new home you may have been looking to purchase just became more expensive. Unless you already had a mortgage rate locked in, higher rates likely means higher home payments or diminished expectations. As Friday came to a close, mortgage brokers were discussing the wreckage of higher yields and looking at a new interest rate landscape, at least in the short term. Mortgage News Daily explained the closing of the week in the mortgage market... "The most prevalent [...]

By |2017-12-22T01:52:34+00:00November 19th, 2016|Housing Policy, In the Press, Markets, Mortgage Rates, Real Estate|0 Comments
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Single-Family Permits Flat In October As Housing Starts Jump

Single-family permits fell flat in October. That's the news from today's Census numbers on October construction starts and permits. The unadjusted single-family permits data show 60,500 new single family permits for October 2016, virtually unchanged from last year's 60,300 print. Headline numbers for housing starts show a huge 23.3 percent YoY increase, and a 21.7 percent increase in single-family starts during October. Not seasonally adjusted, single-family starts rose almost 25 percent year-over-year. It certainly appears we will see more new home sales revisions in the months ahead. If homebuilders actually did put more inventory on [...]

By |2022-08-06T13:31:51+00:00November 17th, 2016|Development, Mortgage Rates, New Home Sales, Real Estate, Spin Cycle|0 Comments
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Texas Housing Market Meets The Fed’s ‘Game of Thrones’ Economy

The latest issue of Tierra Grande is out, and it contains more examples of the Federal Reserve's fingerprints on the Texas housing market. This new batch of evidence is contained in an article titled 'Game of Homes - The Supply-Demand Struggle'. What is thoroughly entertaining is that the two Dallas Fed employees (both recent college graduates apparently) working on this latest missive appear to completely ignore their employer's responsibility for the distortions in the Texas housing market while making a complete mockery of the economics profession. Collaborating with a PhD from TAMU, they lay out [...]

By |2016-11-20T13:26:48+00:00October 23rd, 2016|Economy, In the Press, Politics, Real Estate, Spin Cycle|0 Comments
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Debt, Deficits & Housing – The Smoke & Mirrors “Recovery”

Many among the status quo have defended the last 8 years as a productive "recovery" from the abyss of financial armageddon unleashed by our criminal banking sector. The efficacy of the recovery depends on the person responding to the question. For the vast majority of the U.S. population, there has been no recovery, but instead a steady decline. If you have been paying attention to the early release of season 5 of 'House of Cards', speaking of the email data dump exposing our corrupt political machine for all to see, the reasons behind the phony [...]

By |2018-05-11T22:53:12+00:00October 18th, 2016|Economy, Housing Policy, In the Press, International Real Estate, Politics, Real Estate, Spin Cycle|2 Comments
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Fed Looks At Texas’ Affordable Housing Problem, Fails To Look In The Mirror

The Federal Reserve can be commended on one thing. They never cease to provide entertainment in terms of their complete ineptitude and functional obsolescence. The Fed continues to show no remorse for the damage they have inflicted on the general population and their destruction of what was formerly known as the U.S. housing market. The latest comedy from the Fed comes courtesy of the inaugural report from the Dallas Federal Reserve Community Outlook Series titled 'The Scarcity of Texas Affordable Housing' In this fun-filled trip down the rabbit hole, the Fed examines the problem of the lack [...]

By |2022-08-06T13:33:39+00:00October 1st, 2016|Economy, Housing Policy, In the Press, Politics, Real Estate, Spin Cycle, Texas Home Prices, Texas Property Taxes, Video|0 Comments
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New Home Sales Decline From Summer Peak, Median Price Lowest Of 2016

The Census Bureau reported a 7.6 percent decline for new home sales compared the election-year surprise we saw for July. Compared to August of last year, new home sales were still 20.6 percent higher than last year. It appears super low mortgage rates continued to provide some lift to the new home market. What did not rise in the latest Census report is the median price of a new home contracted in August. The median price of a new home fell to $284,000, down from $300,200 last year. The average price of a new home [...]

By |2018-09-08T15:54:23+00:00September 26th, 2016|Denton County New Homes, Development, DFW New Homes, Economy, Mortgage Rates, New Home Sales, Real Estate, Spin Cycle|0 Comments
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Foreign Investment In U.S. Real Estate Cools In 2016, But China Still Leads List Of Funny Money

The National Association of Realtors has published its latest survey profiling foreign buyers of U.S. real estate, and the latest data is remarkable for a number of reasons. Not surprisingly, China is still the largest source of foreign investment into U.S. homes and property. Something also worth noting is the decline of to total investment dollars reaching its way into the United States. It appears that the latest global central-bank-sponsored asset bubble may be finally popping once again. This will be a particular cause for concern for those wealthy property owners who have bought into [...]

By |2016-07-08T13:15:17+00:00July 8th, 2016|Housing Policy, In the Press, International Real Estate, Real Estate|0 Comments
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New Home Sales Decline To 511,000 Annual Rate In March

The Census Bureau reported that new home sales for March declined to a seasonally adjusted annual rate of 511,000. This was below expectations of 522,000, but higher than March of last year. The median price of a new home contracted in March was $288,000, a YoY decline of $5,400. The average price of a new home contracted in March was $356,200, $3,500 more than March of 2015. New home sales have remained grounded as the Fed's "wealth effect" continues to diminish within the real economy. New home sales are still hovering around 1991 levels, due [...]

By |2019-02-06T01:45:29+00:00April 25th, 2016|Development, Economy, Housing Policy, New Home Sales, Real Estate|0 Comments
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Census: Housing Starts, Permits Decline In March

It appears the 2016 "pent-up demand" story didn't last very long. The Census Bureau just reported that housing starts and permits both fell during March. What is interesting is that single-family starts fell 9.2 percent from revised February numbers, posting at a seasonally-adjusted annual rate of 764,000 units. Single-family authorizations fell 1.2 percent from February figures.  Housing starts and permits are higher year-over-year, but much of the increase in activity is due to lenders "expanding the credit box", not necessarily from increased demand in general. The mortgage industry realizes that many buyers cannot afford today's [...]

By |2019-02-06T01:45:48+00:00April 19th, 2016|Development, Economy, Housing Policy, New Home Sales, Real Estate|0 Comments
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Census: Housing Starts, Permits Stall In January As Economic Backdrop Weakens

The Census Bureau reported that January housing starts and permits fell from downward-revised December numbers. Housing starts posted at a 1,099,000 annual rate in January, down from December's rate of 1,143,000. Housing permits also fell in January, posting at a rate of 1,202,00. Single-family housing completions in January came in at a rate of 693,000, down from December's rate of 703,000. Despite higher year-over-year mortgage purchase applications, new home construction is still struggling in the Fed's echo-bubble of inflated asset prices. This is why you see more advertisements of low-down-payment purchase options and even zero-down [...]

By |2019-02-06T01:46:50+00:00February 17th, 2016|Development, Economy, Real Estate|0 Comments
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