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Monthly Archives: July 2016

    Home Sales Accelerate During The “Dog Days of Summer”

    By SRRealEstateGroup | July 29, 2016

    Some Highlights: Existing home sales have accelerated to the highest pace since February 2007 at an annual pace of 5.57 million. Inventory of homes for sale remains below the historically normal 6-month mark at a 4.6-month supply, down 5.8% year-over-year. Median home sales prices rose to $247,700, 4.8% higher than a year ago and replaced... Read More

    Brexit 1 Month Later: The Impact on Mortgage Rates

    By SRRealEstateGroup | July 25, 2016

    Just over a month ago, the United Kingdom decided to withdraw from the European Union in a decision commonly known as Brexit. At that time there was a lot of speculation on how that decision would impact the U.S. residential mortgage market. Today, we want to look at the impact of the first 30 days.... Read More

    A Homeowner’s Net Worth is 45x Greater Than a Renter’s!

    By SRRealEstateGroup | July 19, 2016

    Every three years, the Federal Reserve conducts a Survey of Consumer Finances in which they collect data across all economic and social groups. The latest survey, which includes data from 2010-2013, reports that a homeowner’s net worth is 36 times greater than that of a renter ($194,500 vs. $5,400). In a Forbes article, the National... Read More

    Would You Qualify for a Mortgage Now?

    By SRRealEstateGroup | July 13, 2016

    Looking at the chart above, it becomes obvious that not only do you not need a 750+ credit score, but 54.9% of approved loans actually had a score between 600 and 749. More and more experts are speaking up about the fact that if potential buyers realized they could be approved for a mortgage with... Read More

    BREXIT: What’s the FIXIT for U.S. Home Buyers and Sellers?

    By SRRealEstateGroup | July 8, 2016

    Now that much of the dust has settled and the panic has waned, let’s take a look at what impact Britain’s exit from the European Union may have on the U.S. housing market. The most immediate impact of Brexit will be on mortgage interest rates. Interest rates have remained at historic lows for the last... Read More

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