Posted in lowe's home improvement

COVID-19 in Charlotte: Positivity rate stable, caseload low

A carefully watched coronavirus metric — the percent of positive tests — is stable in Mecklenburg County after steadily falling for the last 12 weeks, the latest public health data show.

The weekly average positivity rate locally is 5.7%. In North Carolina, the governor and health officials have said they want the percent of positive tests to reach 5% before contemplating reopening more businesses.

That’s in line with the World Health Organization’s guidance for states still seeing widespread COVID-19 transmission. “If a positivity rate is too high, that may indicate that the state is only testing the sickest patients who seek medical attention, and is not casting a wide enough net to know how much of the virus is spreading within its communities,” according to Johns Hopkins University Coronavirus Resource Center.

The Charlotte region continues to see improvement with other coronavirus trends, including the daily caseload and hospitalizations. But Mecklenburg

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Posted in home repair

Long Beach’s New Home Permit Rate Lags Behind Nation

LONG BEACH, CA — A report released Monday by the home improvement company Porch stated the Los Angeles, Long Beach and Anaheim metropolitan region received the 10th fewest new home building permits per capita among large U.S. metros in the first six months of the year.

Researchers at Seattle-based Porch ranked metros according to the number of new housing units authorized per 100,000 residents, based on U.S. Census Bureau data for monthly permits received.

In the Los Angeles, Long Beach and Anaheim metropolitan region, 12,176 new housing units were authorized, which is 91.6 units for every 100,000 residents. The region that includes the three cities’ data together was established by the U.S. Census Bureau.

Porch reported new housing units authorized per 100,000 residents nationally in the first six months of the year was 201.2 units.

Among large metros, the Austin, Round Rock and Georgetown, Texas, region ranked at the top

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Posted in home improvement loans

The Paradox Of The U.S. Black Home Ownership Rate

In a recent article here on the Biden housing plan, I mentioned the Paradox of the Black Home Ownership Rate – in the 30 years from 1940 to 1970 when housing discrimination against Blacks was legal and horrific, the U.S. Black home ownership rate nearly doubled going from 23% to 42%, but 50 years after the 1968 Fair Housing Act became law, the U.S. Black home ownership rate was essentially the same as in 1968. It was 41% in 2018. That paradox seems impossible but it’s true. 

Another hidden truth is that from 1940 to 1970, the Black home ownership rate increased more in the South than in the North. For example, from 1940 to 1970 the Black home ownership rate in Mississippi increased 31 percentage

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Coastal Migrants Boost Las Vegas Home Prices, Up 8% in August Amid High Local Unemployment Rate

People moving in from expensive cities and locals with changing needs are contributing to rising home prices and fast sales even as tourism industry takes the brunt of the pandemic’s economic impact

SEATTLE, Sept. 16, 2020 /PRNewswire/ — (NASDAQ: RDFN) — The typical home-sale price in the Las Vegas metro grew 7.8% year over year to $310,000 in August, according to a new report from Redfin (www.redfin.com), the technology-powered real estate brokerage. More than 41% of homes sold within two weeks of going on the market, up from 28.3% last year.

Redfin Logo (PRNewsfoto/Redfin)

Meanwhile, the unemployment rate in the Las Vegas area—where much of the economy depends on the tourism industry, heavily impacted by the coronavirus pandemic—stood at 16.4% in July (the most recent data available). That’s an improvement from 30% in April, but higher than the 10.2% national rate posted in July.

“A lot

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Posted in home improvement loans

Rate and Term Refinance: When to Consider It

A rate and term refinance is a loan improvement. You exchange your old mortgage for a new one that (hopefully) leaves you in a better financial position.

You may be able to accomplish one or more goals with a rate and term refinance, such as:

  • Lowering your monthly payment.

  • Reducing the amount of interest you pay over the long term.

  • Building equity in your home and paying it off faster.

  • Changing the type of loan you have, from an adjustable-rate to a fixed-rate mortgage or an FHA to a conventional loan, for example.

  • Eliminating mortgage insurance.

When to consider a rate and term refinance

Several situations might prompt you to consider a rate and term refinance. Mortgage rates moving significantly lower might be one. Having an adjustable-rate mortgage approach the end of its initial fixed-rate guarantee could be another.

Other scenarios that might present an excellent opportunity to refinance your

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Posted in home improvement loans

Mortgage Originations, Refinancings Surged In Second Quarter Amid Low Rate Backdrop

KEY POINTS

  • In all of 2019, lenders extended about $2.5 trillion in home loans
  • Mortgage rates fell below 3% for the first time in July.
  • Only 18% of all refinancing borrowers retained post-refinance in the second quarter

Mortgage originations set a record in terms of volume in the second quarter despite the ongoing COVID-19 pandemic, data analytics firm Black Knight reported.

First lien mortgage origination volumes approached $1.1 trillion in the quarter – an all-time record. In all of 2019, lenders extended about $2.5 trillion in home loans.

“Despite the nation being under pandemic-related lockdowns for much of the quarter, a record-breaking surge in mortgage originations occurred in [the second quarter of 2020], driven by the record-low interest rate environment,” Black Knight Data & Analytics President Ben Graboske said. “Nearly $1.1 trillion in first lien mortgages were originated in [the second quarter of 2020], which is the largest quarterly origination

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