What Hurricane Harvey means for real estate and mortgage rates

The garage took on water during Hurricane Harvey and the asking price. activity is again picking up as mortgage rates fall. houston housing: See the complete 2019 home price survey Yet while real.

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Buying a house in areas hit by natural disaster.. What Hurricane Harvey did to home prices and mortgage rates.. That means the impact on the affected real estate market will be different.

Mortgage Delinquencies Begin to Recover from Hurricane Season. – CoreLogic reports that early-stage delinquency rates peaked at over 7 percent in some Texas markets during September 2017, as the Lone Star State dealt with the impacts of Hurricane Harvey’s.

Hurricane Irma Seen Having Bigger CMBS Impact than Harvey – Commercial Real Estate Direct Staff Report. Hurricane Irma, a Category 5 storm that already has wreaked havoc on the Caribbean, could have a much larger impact on commercial real estate in Florida than Hurricane Harvey had on Houston’s properties.

But since it was founded in 1968, the program has been contorted by developers, real-estate. mean people with money can put protections up, and people without can’t.” In moments like this, it’s.

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Since Hurricane Harvey. rising mortgage rates and potential foreclosures among homeowners who did not have flood insurance. “So far, the economy looks reasonably strong,” said Jim Gaines, an.

Just how bad is the impact of hurricane Harvey on the Houston housing market? What will it mean for real estate investors? What does the potential for recovery look like? Harvey’s Impact on Houston. At least tens of thousands of Houston housing units have been impacted by Harvey. Some estimates put this damage at around $400B.

This is a huge win for our Texas coast and its homeowners, businesses, real estate agents, builders and economic development.

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The worldwide supply and demand for money determines what we pay for all kinds of financing, including mortgages. As much as Hurricane Harvey was a huge event, its impact on mortgage rates has been minimal. Freddie Mac reports that prime mortgage rates were 3.86 percent for the week of August 24th just before the storm.

MBA Mortgage Applications. Mortgage applications were down 9.7% last week, with applications to purchase falling 11%. Refinance applications also fell 9% as the average rate on a conforming 30-year fixed-rate mortgage was up one basis point to 4.04%. Existing Home Sales. Hurricane Harvey impacted sales in the South, which were down 5.7%.