Today Courtesy Margo DeLaPaz, Sr Loan Officer with AmeriFirst Financial…
QUOTATION OF THE WEEK…“I admit that I may not always be right, but I am never wrong.” –Samuel Goldwyn, American movie producer
INFO THAT HITS US WHERE WE LIVE… The Census Bureau and HUD reported that 2017’s annual home building totals for starts, permits and completions all came in at their highest levels since 2007. Starts were at an estimated 1,202,100 units, 2.4% ahead of 2016. Completions totaled an estimated 1,152,300 units, up a solid 8.7% over the prior year. Permits hit an estimated 1,263,400 units, up 4.7% from a year ago. December did suffer an 8.2% dip in starts, but 90% of this came from the South, where the spike in storm-related construction has clearly ended.
Builders remain upbeat, as the National Association of Home Builders (NAHB) January confidence index registered 72, just two points down from December’s 18-year high. The NAHB chair said, “Builders are confident that changes to the tax code will promote the small business sector and boost broader economic growth. Our members are excited about the year ahead.” Mortgage applications were up 4.1%, according to the Mortgage Bankers Association Survey for the week ending January 12, with purchase applications up 3% from the week before.
|Margot De La Paz|
Senior Loan Officer
1350 N Loop 1604 East, St 104
San Antonio, TX 78232
Direct:: (210) 724-4977
Fax: 361 360-6631
Office: 210 364-1614