Posts from July, 2016

A Demographic Peak at Those Living Alone

July 29, 2016 by Zelman & Associates

In 2014, approximately 28% of households consisted of one person living alone, up from 26% in 2000, 25% in 1990 and 23% in 1980. The gradual increase has implications for housing demand given that individuals traditionally require less space ...

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Filed Under | demographics

How Do We Reconcile Good Single-Family Housing With Bad Homeownership?

July 29, 2016 by Zelman & Associates

For 2Q16, the Census Bureau announced that the national homeownership rate registered 62.9%, down 50 basis points from 2Q15. The headline was particularly eye-catching given that it tied 2Q65 for the lowest second quarter level of the last ...

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Filed Under | homeownership

Non-Bank Mortgage Originators Most Accommodating to FHA Borrowers

July 29, 2016 by Zelman & Associates

In recent years, national banks have faced numerous legal headwinds related to legacy mortgage exposure, incurring billions of dollars of fines in aggregate, which has led many to de-risk their origination business. This has been particularly ...

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Filed Under | entry-levelmortgage

Why Don’t More Consumers With Elevated Rates Refinance?

July 15, 2016 by Zelman & Associates

In its most recent weekly survey of mortgage rates, Freddie Mac reported that the national average for a 30-year fixed-rate product was approximately 3.40%, only 10 basis points higher than the historical low posted in late 2012 dating back ...

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Filed Under | mortgagerefinancesurvey

First Single-Family REIT Refinance Highlights Asset Appreciation

July 15, 2016 by Zelman & Associates

Progress Residential is a single-family REIT that owned approximately 17,000 homes as of 1Q16, making it the fourth largest in the country behind Invitation Homes (~48,000), American Homes 4 Rent (~48,000) and Colony Starwood Homes (~32,000) ...

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Filed Under | institutional investorssingle-family rental