Are homeowners starting to refinance again?
The Mortgage Bankers Association released their latest weekly report on the mortgage refinance market yesterday.
Applications to refinance a home loan surged by 35% last week when compared to the previous week. They were up 118% compared to the same week last year.
Joel Kan, an MBA economist, wrote, “The refinance index also saw its strongest week since May 2022, driven by gains in conventional, FHA, and VA applications.”
Applications to purchase a home also rose 3% week-over-week, as homebuyers start to come back into the housing market.
Are investors coming back to the housing market?
According to recent data, investor home purchases rose 3% year-over-year in Q2 2024. Investors bought one of every six U.S. homes that sold and bought a total of $43 billion worth of property in the second quarter.
Investors were also budget-minded and purchased one out of four low-priced homes that sold.
Single-family homes were the most popular type of homes for investors and accounted for 69% of investor purchases in Q2 2024.
In the second quarter of 2024, investors bought the most amount of property in markets like San Jose and Las Vegas, and they moved out of markets like Fort Lauderdale and Providence.
What does it cost to live like an NBA owner?
The owner of the Golden State Warriors, Joe Lacob, recently listed his megamansion in Malibu, CA. The asking price? A cool $44 million.
Located on Carbon Beach, also known as Billionaires Beach, the property is over 5,000 sq. ft. and offers five bedrooms and 5.5 bathrooms. The home is said to offer ‘James Bond vibes’ and combines ‘luxury, design, and technology’ throughout the living space.
The main level offers an Italian slab fireplace, a glass wine wall, and Fleetwood glass doors.
The home offers direct beach access with two outdoor showers. The third level includes a deck with a fire table that seats 12, and barbecue island with a kitchen, a lounge area, and a hot tub.
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- Tax Returns
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- Loan obligation info (student loans,
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