Tax Reform With $750k Cap on Mortgage Interest Deduction Would Leave 1 in 7 U.S. Homes Eligible
As the House and Senate search for common ground between their respective tax overhaul plans, reports indicate at least one discrepancy – the cap on the Mortgage Interest Deduction (MID) – might already be resolved.
Rising Single-Family Rentals Dampening Home Sales
Hundreds of thousands of homes that may have otherwise sold in a typical year over the past decade – particularly more-affordable homes – have instead been taken off the market and converted to single-family rentals, a trend that exploded in popularity in recent years and is only now beginning to level off.
Bump in 2018 Conforming Loan Limits Likely to Save Borrowers Thousands
Tens of thousands of homes in some of the nation’s priciest housing markets – including New York, L.A., Miami and Seattle – will no longer require a jumbo purchase mortgage next year, likely saving their potential buyers thousands of dollars.
For people who don't like their market too hot or too cold, these “sweet spots” have strong job and income growth but relatively affordable rents.
Tax and Fed News Bumps Mortgage Rates, But They Remain in Narrow Range
The prime 30-year fixed mortgage rate quoted on Zillow edged slightly higher mid-week last week. However, it remained in the 10-basis point range where it has been since the end of October.
Low Inventory, Sluggish Building Defined Housing in 2017; Expect 2018 to Look Similar
Persistently low inventory of homes for sale, and low levels of single-family home building activity in particular, proved the most surprising housing trends to a majority of experts in 2017 – and they say neither is particularly likely to reverse course in 2018, nor is homeownership expected to rise much.
Thanksgiving Break Makes for Quiet Mortgage Markets
The Thanksgiving holiday made for a quiet market late last week, with most lenders closed and activity being fairly subdued when the market was open on Friday.
Worsening Affordability Costs Renters Nearly $2,000 a Year
Rising rents are eating up an increasingly large share of tenants’ incomes, costing the typical U.S. renter almost $2,000 more per year than they would if renters were devoting the same-sized chunk of their paychecks to their landlord as they used to.
Case-Shiller September Results and October Forecast: Underbuilding Continues to Take a Toll
Home prices have grown at roughly the same pace for the past year or more. The real action is on the sidelines: Demand is coming first and foremost from buyers in the entry-level and mid-market segments, but available inventory is largely concentrated at the high end – causing the nation’s most affordable homes to grow in value at more than twice the pace of homes at the top of the market.
October New Home Sales: Gains Across the Country
New home sales rose 6.2 percent from September to October to 685,000 units, the most sales in a single month since October 2007.
