It pays to be a College Landlord in HomeUnion markets

Who is a College Landlord?  An investor owning rental investment properties near colleges or universities.  HomeUnion is proud that several of our cash flow zones – Atlanta, Pittsburgh and Chicago- are among the top 5 cities where it pays to be a college landlord according to a report released by AOL .

CoreLogic’s Home Price Index for August increased by 4.6% resonating with the increases in FHFA Home Price Index and S&P/Case Shiller Index released last week.

Finally, here comes the report we all have been looking forward to! The unemployment rate in September falls to 7.8%, its lowest level since 2009. The recovery in the housing industry needs a further boost from job growth and an improvement in the other sectors of economy. The U.S. Bureau of Labor Statistics reported that employment in the mortgage banking and brokerage industry rose for 6th stratight month to 280,500 in August (+2,800 from July).  Private sector establishments added 104,000 jobs and overall non-farm payroll employment added 114,000 jobs. According to US Bureau of Labor Statistics, employment rose in health care and social assistance (+44,500), transportation and warehousing (+17,100), restaurants and bars (+15,700) financial activities (+13,000), and professional and business services (+13,000).

The 30-yr average fixed mortgage rate is at 3.36%, and the 15yr average is at 2.69%.  It is no surprise then that mortgage refinance applications rose by 20% last week, and home purchase applications increased by 4%.

The ISM Manufacturing index showed expansion to 51.5 in September after a gap of 3 months. Readings above 50 indicate increasing growth.

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