PRSRT STD US POSTAGE PA ID PERMIT 745 COLO SPGS CO
Vol. 9 No. 3
November 28, 2016
www.csrej.com
What the 2016 election results mean for Colorado Realtors® “Pundits Befuddled!” is how news headlines could have described the 2016 elections. Pundits, and the world, were stunned by Donald Trump’s inconceivable victory. Perhaps even more unexpected than the Presidential race, was the fact that Republicans retained their U.S. Senate majority. As of Friday, November 10th, a few Colorado counties were still counting ballots, but unlike in 2014, further tabulations are not expected to change the outcome of any races. Below is a re-cap of what the races mean for the state legislature, Congress, and of course for REALTORS®. NAR is reporting that over 90 percent of races that RPAC was involved in won Tuesday night! In Colorado we did equally well; our success rate
was 91%! Thank you to the 19 members of our CARPAC for your time and dedication to the electoral process; your tireless work has served our members very well. Thank you also to each of the local boards and associations and their members and staff for your assistance throughout the process! COLORADO State House: Democrats will retain control of the Colorado House of Representatives by a 38 to 27 margin, with Democrats picking up three seats. Most political minds agreed there were six competitive races this cycle. Whereas both parties evenly split the eight competitive races in 2014, the Democrats swept each of these six competitive
seats in 2016. The Republican House Caucus elected Rep. Patrick Neville of Castle Rock as House Minority Leader. The Democratic House Caucus elected Rep. Crisanta Duran of Denver as Speaker-designee – the full House will officially vote for the position in January – and Rep. KC Becker of
Boulder as Majority Leader. Speakerdesignee Duran will become the first Latina in Colorado history to hold the position. See Election | 8
30-Year mortgage rates are nearing 4% closely the mortgage rate would track the post-election sell-off in the Treasury market,” says Sean Becketti, Freddie Mac’s chief economist. “This week, the verdict is in -- over the last two weeks the 30-year mortgage rate jumped 40 basis points to 3.94 percent, almost identical to the 39 basis point increase in the 10-year Treasury yield. If rates stick at these levels, expect a final burst of home sales and refinances as 'fence sitters' try to beat further increases, then a marked slowdown in housing activity.” Freddie Mac reports the following national averages with mortgage rates for the week ending Nov. 17:
percent, with an average 0.5 point, rising from last week’s 3.57 percent average. Last year at this time, 30-year rates averaged 3.97 percent. 15-year fixed-rate mortgages: averaged 3.14 percent, with an average 0.5 point, increasing from last week’s 2.88 percent average. A year ago, 15-year rates averaged 3.18 percent. 5-year hybrid adjustable-rate mortgages: averaged 3.07 percent, with an average 0.4 point, rising from last week’s 2.88 percent average. A year ago, 5-year ARMs averaged 2.98 percent. © Copyright National Association of Realtors. Reprinted with permission.
30-year fixed-rate mortgages: averaged 3.94
A-Mark Budget Signs Customer Appreciation Party
Banning Lewis Ranch Fall Realtor Rally
Jay Gupta's October Housing Stats
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Chad Denny
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Debbie Havens
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Fixed-rate mortgages are climbing following a post-selection sell-off in the Treasury Market. "Last week's election fell in the middle of our survey week, making it impossible to determine how
National News............ Page 2 Local News................ Page 8 On the Move.............. Page 13 Local Expert.............. Page 14 Around the Corner....... Page 15
Sharon Ballinger
Will Michaloski
Marianne Elep Turner
Sr. Loan Officer
Loan Officer
Loan Officer
(719) 331-2750 chad.denny@academy.cc
(719) 380-1778 debbie.havens@academy.cc
(719) 491-2500 sharon.ballinger@academy.cc
(719) 232-7553 will.michaloski@academy.cc
(719) 264-1952 marianne.elepturner@academy.cc
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