Edward L. Golding, principal deputy assistant secretary with the Department of Housing and Urban Development, in a piece from the New York Times, restated the agency’s commitment to struggling homeowners, and pledged to offer every assistance available to help them avoid foreclosure. HUD has ensured that new rules are in place to protect homeowners from unscrupulous investors. More, here.
The vote affirming Great Britain’s departure from the European Union has caused major division within Britain and elsewhere, but it could have a positive impact on mortgage rates. Rates are already at 3-year lows, and experts forecast another potential decrease. More, here.
Realtor.com published a list of the 20 hottest real estate markets in the U.S. for June 2016. Overall, homes for sale are moving off the market 2% faster then they were a year ago. Dallas and San Diego broke into the top 5 this month, while Los Angeles and Grand Rapids, Mi. have moved into the top ten. Full details, here.
Diana Olick with CNBC reports that mortgage application volume was up nearly 3% last week, compared to the previous week. This makes applications almost 35% higher when compared to the volume from a year ago. Rates remain at a 3-year-low. More, here.
Realtor.com reports on the potential ‘Brexit’, and how foreign investors may become fierce competition with first-time homebuyers here in the States. This may only effect popular housing markets such as New York; Washington, DC; Miami; Los Angeles; and San Francisco, but may stretch to Chicago, Dallas, and Florida’s Tampa Bay. More, here.