Image by Tumisu from Pixabay
Surprisingly , real estate continued to have much more positive news than perhaps any other investment sector during the 1st half of 2020 . Specifically , the fact that 30 year mortgage rates reached alltime record lows in the month of June was probably the primary reason why as some rates hovered somewhere in the mid2 % rate range . By comparison , the 30year fixed mortgage rate hit a whopping 18.63 % in October 1981 .
Other positive first half of 2020 trends for real estate and mortgages included :
● Mortgage application numbers reached 11 year highs .
● Home purchase applications also rose to 11 year highs while home inventory remains low .
● Suburban home market regions are expected to hit record boom sales highs because so many people want out of crowded metropolitan regions while realizing that they can work from home .
● US home prices rose for the 9th consecutive month in April , per CaseShiller .
● Prices of the most affordable third of US homes increased 5.5 % during the 2nd quarter , per Redfin .
In the second half of 2020 and beyond , more people will likely be very eager to start traveling again after being restricted from travel for much of 2020 . As a result , the revenue streams for vacation rental hosts may continue back towards historic highs if the annual positive data trends continue like they have over the past 12 years .
ABOUT RICK TOBIN
Rick Tobin has a diversified background in both the real estate and securities fields for the past 30 + years . He has held seven ( 7 ) different real estate and securities brokerage licenses to date , and is a graduate of the University of Southern California . Rick has an extensive background in the financing of residential and commercial properties around the U . S with debt , equity , and mezzanine money . His funding sources have included banks , life insurance companies , REITs ( Real Estate Investment Trusts ), equity funds , and foreign money sources . You can visit Rick Tobin at RealLoans . com for more details .
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