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Vol. 8 No. 4
Young adults finally fleeing the nest
The millennial generation may finally be showing more signs of moving out of their parents’ homes and starting households of their own. The number of home owners aged 25 to 34 has dropped by more than 250,000 in each year between 2007 and 2012. Since then, the number has dropped to less than 100,000, according to a new report released by mortgage-backing giant Fannie Mae. “In fact, the decline between 2013 and 2014 was statistically insignificant, the first
December 28, 2015
www.csrej.com
The 20 hottest home features right now
indication of stability in the number of young home owners since the onset of the Great Recession,” Fannie Mae notes in its report. While the number of 25-to 34-year-old home owners has been on a decline, that trend is likely headed to reverse soon, Fannie Mae’s points out. The labor market continues to strengthen for this age group and the desire for home ownership is still strong. Only 12 percent of millennials rated home ownership as “not very important,” according to a Goldman
Sachs report published earlier this year. Nearly 70 percent said ownership was either “very important” or “important” and 20 percent said they already owned a home or were in the process of purchasing one. Fannie Mae’s report notes that homebuilders will need to build more to meet the demand coming from an upswing in millennial buyers and adjust the “size, type, and geographic location of new housing construction.”
Must-have home features are constantly evolving. After all, just a half century ago, shag carpeting in all hues – gold, orange, and purple – were all “in.” But what’s hot with home owners and buyers now? Realtor.com® set out to find out, evaluating what musthave home features are hot right now by analyzing millions of listings at its site for the most commonly used phrases of home features.
The following 20 features were most often used in listings on Realtor.com® in 2015:
1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20.
© Copyright National Association of Realtors. Reprinted with permission.
Freddie: 2016 rates to stay near record lows take the Fed at its word that monetary tightening in 2016 will be gradual, and we expect only a modest increase in longer-term rates. Mortgage rates will tick higher but remain at historically low levels in 2016.” Freddie Mac reports the following national averages with mortgage rates for the week ending Dec. 17: 30-year fixed-rate mortgages: averaged 3.97%, with an average 0.6 point, rising from last week’s 3.95% average. A year ago, 30-year rates averaged 3.80%.
15-year fixed-rate mortgages: averaged 3.22%, with an average 0.5 point, increasing from last week’s 3.19% average. Last year at this time, 15-year rates averaged 3.09%. 5-year hybrid adjustable-rate mortgages: averaged 3.03%, with an average 0.4 point, holding the same average as last week. A year ago, 5-year ARMs averaged 2.95%. 1-year ARMs: averaged 2.67%, with an average 0.2 point, increasing from 2.64% last week. A year ago, 1-year ARMs averaged 2.38%. © Copyright National Association of Realtors. Reprinted with permission.
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HELPFUL TIP: Check the license status of your mortgage broker at the Colorado Division of Real Estate’s website. Regulated by the Colorado Division of Real Estate, Corp NMLS #3113.
Chad Denny
Branch Manager
Debbie Havens
Sales Manager
© Copyright National Association of Realtors. Reprinted with permission.
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Mortgage rates edged slightly higher for the second consecutive week and following the Federal Reserve’s decision Wednesday to raise its short-term interest rates for the first time since 2006. "As was almost-universally expected, the Federal Open Market Committee of the Federal Reserve elected this week to raise short-term interest rates for the first time since 2006,” says Sean Becketti, Freddie Mac’s chief economist. “We
Fireplace (gas fireplaces were the leading type of fireplace mentioned) Wood floor Carpet Granite counter Stainless steel appliances Open floor plan Walk-in closet Formal dining room Vaulted ceiling Open kitchen Tile floor Covered patio Finished basement Breakfast bar French doors Chef ’s kitchen Crown molding Central air Separate shower Garden tub
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Sharon Ballinger
Shannon Livingston
Will Michaloski
Marianne Elep Turner
Sr. Loan Officer
Loan Officer
Loan Officer
Loan Officer
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(719) 331-2750 chad.denny@academy.cc
(719) 380-1778 debbie.havens@academy.cc
(719) 491-2500 sharon.ballinger@academy.cc
(719) 439-1413 shannon.livingston@academy.cc
(719) 232-7553 will.michaloski@academy.cc
(719) 264-1952 marianne.elepturner@academy.cc
NMLS #665068 State Lic #100037389
NMLS #653845 State Lic #100018256
NMLS #347297 State Lic #100019804
NMLS #1058406 State Lic #100045193
NMLS #1058945 State Lic #100044854
NMLS #231308 State Lic #100029888