New Home Sales Soar in September

The Commerce Department reported on Wednesday that New Home Sales surged 18.9 percent in September from August to their highest level since October 2007. This was the largest monthly gain since January 1992! Sales came in at 667,000 units versus the 555,000 units expected. Sales were up 17 percent year-over-year. Currently, there is a five-month inventory of houses on the market, down from six-months in August. A six-month supply is seen as a healthy balance between supply and demand.



4 Ways to Fly Through Air Travel

Young black man smiling with cellphone

Airport security checkpoints are a standard part of air travel. And depending on the date, time and airport, some lines can seem daunting.

Here are four tips smart travelers should try:

Check out Precheck, especially if you’re a frequent flyer. The TSA Precheck program allows prescreened flyers to bypass many long lines. After submitting an application, finger printing, a background check and a small fee, your “known traveler number” status is good for five years.

Keep it handy. Place your government issued ID and boarding pass in an accessible place to avoid fumbling and wasting time in security lines and at boarding.

Make it easy on yourself. Wear slip-on shoes, keep your pockets empty and avoid metal (as in belt buckles, jewelry, change in your pockets, etc.). Get a TSA-approved laptop case. And, to avoid having to throw away expensive toiletries and beverages at the checkpoint, make sure your carry-on liquids comply with the TSA 3-1-1 Rule (i.e., liquids must be 3.4 ounces or less, and fit in one 1-quart transparent, plastic sealable bag).

Get text alerts and preprogram 800-numbers into your phone for airlines, hotels, car rentals or ground transport in case there is a flight change or delay. This comes in handy to know if you have more time to get through security, if you need to switch terminals or if you need to reschedule or cancel.

While some travel troubles are out of your hands, these tips can help make getting through your next trip a little easier!

Sources: TSA, Independent Traveler, USA TODAY


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Home Price Gains Fueled by Tight Inventories

CoreLogic reports that home prices nationwide rose 6.6 percent from May 2016 to May 2017 and 1.2 percent from April 2017 to May 2017. Tight inventories of homes for sale continue to push prices higher. CoreLogic forecasts indicate that home prices will increase by 5.3 percent on a year-over-year basis from May 2017 to May 2018. fea_chart_07-11-17

Solid Home Price Gains Continue


CoreLogic, a leading provider of data analytics, reported today that home prices, including distressed sales, jumped 7 percent from February 2016 to February 2017 due in part to high demand and limited supply across most local markets. Month-over-month, prices rose 1 percent. Looking ahead, prices are expected to rise 4.7 percent from February 2017 to February 2018fea_chart_040417_print

New Home Construction is Up, Way Up.


The Commerce Department reported on Thursday that Housing Starts hit a four-month high, rising by 3 percent from January to February to an annual rate of 1.288 million. The gains were fueled by single-family homes, which rose to a near 10-year high. An improving economy and a strong labor market were a few key reasons behind the gains. From February 2016 to February 2017, Housing Starts were up 6.2 percent.

Mortgage Rates Coming Down, a bit.


In relative terms, today’s rates are as low as they’ve been in 3 weeks.  We’ve only been able to say that one other time  since the election (early to mid January), and that turned out to be a good time to consider locking vs floating.  Past precedent doesn’t guarantee a similar outcome, but the longer the winning streak continues, the more it makes sense to look for tactical opportunities to take advantage of the gains.

To read the full article on Mortgage News Daily, click the link below.

Mortgage Rates in Line With 3-Week Lows