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The Urban Institute says that homes categorized as low priced, that is in the bottom 20 percent of the distribution, appreciated 126 percent between the turn of the century and the end of 2019. During that same 20-year period, those in the top 20 percent of the price distribution increased only 87 percent . An analysis of 285 metropolitan statistical areas (MSAs) by Jung Hyun Choi, John Walsh, and Laurie Goodman found that rapid employment growth combined with supply constraints from zoning and other regulations was one driver of this disproportionate price growth on the low end. Those MSAs with the greatest constraints on housing inventory experienced the greater price growth on the low end relative to the high. They measured this using two indices, Wharton Residential Land Use Regulatory
Housing News
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The Urban Institute says that homes categorized as low priced, that is in the bottom 20 percent of the distribution, appreciated 126 percent between the turn of the century and the end of 2019. During that same 20-year period, those in the top 20 per... (read more)
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MBS Commentary
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Big Risks Ahead For Rates and Some Solid Opporunities Right Now
Treasury yields broke one important ceiling yesterday (.74%) and another today at .79% before finding support at .823%. This leaves them a... (read more)
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Mortgage Rate Watch
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Mortgage rates are directly tied to the bond market. This isn't too much of a surprise considering pretty much anything with an interest rate can be traced back to the bond market. Mortgages are especially relevant though, considering they comprise a... (read more)
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Rob Chrisman
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Yesterday afternoon my cat Myrtle was watching me mop the kitchen floor. (Hey, it’s not going to mop itself, right? And it is mildly amusing to use certain products – insert slogan contest here for 4 th grade humor.) While toiling, beside... (read more)
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Housing News
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CoreLogic's report on April home prices, the first for that month, says that despite fears that home prices would "bottom out like they did in the Great Recession," they continued to accelerate reaching their highest annual growth since August 2018. ... (read more)
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Housing News
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Refinancing volume continued to slide but purchase mortgage activity partially compensated during the holiday shortened week that ended May 29. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of mortgage loan applica... (read more)
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