Affordability drops to 30% in Q2 despite low mortgage rates
Mortgage rates may be at the lowest rate in three years, but affordability dropped in the second quarter and remains a major concern for the housing market.
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Santa Cruz, Marin counties among least affordable in U.S.
Five of the 10 least affordable counties in the nation are in California. Also, Fremont and Irvine among the best cities for families in U.S.
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Fewer foreigners are buying homes in CA, U.S.
A slowing global economy and immigration concerns are causing more foreigners to hold off buying homes in U.S. Also, first-half rents soar in some areas and Bay Area home-sellers enjoy hefty profits.
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Earthquakes, wildfires make Los Angeles the highest-risk city for natural disasters
Earthquakes and wildfires pose very serious threats to many cities in California. Also, tax reform greatly affects Bay Area homeowners, but many will continue to tap equity for home-improvement projects.
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High home prices are bad medicine for RNs looking to buy
Registered nurses in California enjoy big paychecks, but they’re often not enough to become a homeowner. Also, home flipping profits tumble and equity gains stumble.
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Black, Hispanic homeowners suffered the most from foreclosures, housing collapse
A larger percentage of blacks and Hispanics had their homes foreclosed on during the housing meltdown, and the discrepancy could have a long-lasting effect on their personal wealth.
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Mortgage rates
Long-term mortgage rates remained steady for the period ending Aug. 15, as consumers continue to enjoy the lowest rates in three years.
30-year: 3.60%, no change from a week ago
15-year: 3.07% vs. 3.22% a week ago
Source: Freddie Mac
News
Affordability drops to 30% in Q2 despite low mortgage rates
Mortgage rates may be at the lowest rate in three years, but affordability dropped in the second quarter and remains a major concern for the housing market.
Read More
Lower mortgage rates help home sales heat up in July
The lowest mortgage rates in about three years helped the housing market rebound in July, with the most sales in 15 months.
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Home sales drop, prices reach new record in June
California home sales dropped in June, despite the lowest mortgage rates in three years, helping boost the buying power of many consumers.
Read MoreMust-reads from the web
Bloomberg BusinessWeek: Home flipping gains are slowing
The home-flipping craze has been, well, crazy in recent years, thanks to HGTV. But those head-turning gains are becoming more like head-hanging losses.
Bloomberg BusinessWeek: More Californians are leaving for Boise, Reno
Affordability and politics, in some cases, are causing more Californians to leave the Golden State for Boise, Reno and other cities in the West.
Bloomberg BusinessWeek: Zillow wants to buy (and) flip your house, for a fee
Online real estate giant Zillow is buying homes in several markets nationwide, with the goal of making minor fixes that generate nifty profits.
Knowledge
REX gets $45 million, expands AI and big data real estate listings in California
Company's 2% commission model takes on the traditional real estate industry, where Multiple Listing Service holds the key to buying -- and selling.
Resources
$1.5M in fees, taxes waived for mobile home owners
A new state program will help mobile home owners to get the proper registration and title for their property and have fees and taxes waived, saving them hundreds or even thousands of dollars.
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