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Is Mortgage Debt Out of Control?

The housing crisis of the last decade was partially caused by unhealthy levels of mortgage debt. Homeowners were using their homes as ATMs by refinancing and swapping their equity for cash.
When prices started to fall, many homeowners found themselves in a negative equity situation (where their mortgage was higher than the value of their home). As a result, they walked away. This caused prices to fall even further.
Headlines are again talking about record levels of mortgage debt, making the comparison to the challenges that preceded the housing crash. However, cumulative debt is not an important data point. If we look at the debt as a percentage of disposable personal income, we are at an all-time low.
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4th of July Fun in the Colorado Front Range


If you are still deciding on your 4th of July plans for tomorrow ...

Independence Day is just around the corner and if you haven't quite figured out your plans, we've compiled a mega list of fun for the whole family throughout the Front Range! Whether you are looking to celebrate traditionally with a parade and fireworks or just looking for local events to celebrate and entertain guest in town you can find your celebration plans here! 
 
ARVADA
City of Arvada Fireworks | Stenger Sports Complex, Arvada CO
July 4th, 2019 | 9:00 PM *Gates open at 7:00 PM
This year Arvada will only be hosting fireworks and will not have live entertainment and food trucks as in the past. Guest are asked to enter the complex at West 58th Avenue and Oak Street. Free parking, first-come first-serve!
 
Aurora
City of Aurora 4th of July Spectacular | Aurora Municipal Centers Great Lawn, Aurora CO
July 4th, 2019 | 6:00 PM – 10:00 PM
Starting at 6 PM the city of Aurora will host their annual celebration featuring music, food, adult beverages! ...

Want More Info or to Check Another City? Click Here to View a Detailed Real Estate Market Report
Mortgage Rates Sink to their Lowest Levels in 21 Months After 6 Weeks of Decline

In November, mortgage rates appeared ready to soar across the 5 percent threshold. Seven months later, concerns over trade and global growth have driven them below 4 percent.

According to the latest data released Thursday (6/6) by Freddie Mac, the 30-year fixed-rate average sank to 3.82 percent with an average 0.5 point. (Points are fees paid to a lender equal to 1 percent of the loan amount and are in addition to the interest rate.) It was 3.99 percent a week ago, and 4.54 percent a year ago. The 30-year fixed rate fell for the sixth week in a row and hasn’t been this low since September 2017.
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2 Myths Holding Back Home Buyers



Freddie Mac recently released a report entitled, “Perceptions of Down Payment Cs ...

Some Highlights:


An emerging trend for some time now has been the difference between available inventory and demand in the premium and luxury markets and that in the starter and trade-up markets and what those differences are doing to prices!



Inventory continues to rise in the luxury and premium home markets which is causing prices to cool.



Demand continues to rise with lower-than-normal inventory levels in the starter and trade-up home markets, causing prices to rise on a year-over-year basis for 85 consecutive months. ...

Interest rates for a 30-year fixed rate mortgage have been on the decline since November, now reaching lows last seen in January 2018. According to Freddie Mac’s latest Primary Mortgage Market Survey, rates came in at 4.12% last week!
This is great news for anyone who is planning on buying a home this spring! Freddie Mac had this to say,

“Mortgage interest rates have been steadily declining since the start of 2019. These lower mortgage interest rates combined with a strong labor market should attract prospective homebuyers this spring and could help the housing sector regain its momentum later in the year.”

To put the low rates in perspective, the average for 2018 was 4.6%! The chart below shows the recent drop, and also shows where the experts at Freddie Mac believe rates will be by the end of 2019.

Bottom Line
If you plan on buying a home this year, let’s get together to start your home search to ensure you ca! ...