According to the Commerce Department, housing permits rose in October to the highest level in more than five years. This surge was driven by increased demand for multifamily housing.
Lenders are now offering interest rates on jumbo mortgages that are more than a quarter of a percentage point lower than those guaranteed by Fannie Mae and Freddie Mac.
RealtyTrac has been following large institutional purchases of distressed single-family homes that become rentals and it’s expected that these rentals will increase.
The results are in, and housing inventory fell in September across the country when compared to a year ago. However, there are higher inventory levels of available homes for sale in an increasing number of markets.