Freddie Mac reports mortgage rates moved up this week. The 30-year fixed-rate mortgage averaged 3.94%, up from last week’s 3.90%. A year ago it was 4.13%. The 15-year fixed averaged 3.36%, up from 3.30%. A year ago it was 3.36%.
The Department of Housing and Urban Development reports homelessness ticked up 0.7% in 2017. By its definition, 553,742 people were homeless at least one night during the year. In 30 states and even in relatively expensive Washington, D.C., homelessness was down but “challenges in some major metropolitan areas…have had a major impact on the national trend lines.” An Apartment List analysis for MarketWatch showed that the metros with the most cost-burdened residents are nearly all in California, Florida, or the Northeast. “Moderately cost-burdened” renters are those who spend 30 to 50% of their income on rent, while the “severely cost-burdened” spend 50% or more.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
