Strong Affordability Bodes Well for 2019

first_img Servicers Navigate the Post-Pandemic World 2 days ago  Print This Post Strong Affordability Bodes Well for 2019 Home / Daily Dose / Strong Affordability Bodes Well for 2019 The Best Markets For Residential Property Investors 2 days ago Tagged with: Affordability Housing Market 2019 Interest rates Mortgage Interest Rates Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Black Knight’s September Mortgage Monitor Report revealed that it now requires 20.7% of the national median income to make monthly principal and interest payment on an average-priced home—the second lowest payment-to-income ratio in 20 months. The report says the average 30-year interest rate at 3.64% has been a key factor, and that home affordability hit a 32-month high in September. According to the report, the $1,122 in monthly P&I required to purchase an average-priced home is 10% lower than in November when interest rates closed in on 5%. Home prices, however, have risen more than 4% since that point. Affordability was at a nine-year low in November when the payment-to-income ratio increased to 23.7%, causing an extended slowdown in home price growth. Falling rates over the past few months have boosted buying power by 16% ($46,000), while not impacting the P&I payments. Black Knight found that annual home price growth was flat in August—coming in at 3.8%—after rising for the first time in 17 months in July. June’s annual home price growth rate of 3.7% was the smallest in almost seven years before trending upward. “It remains to be seen if this is merely a lull in what could be a reheating housing market, or a sign that low interest rates and stronger affordability may not be enough to muster another meaningful rise in home price growth across the U.S,” said Black Knight Data & Analytics President Ben Graboske. “That the strongest gains in—and strongest levels of—affordability were in August and early September could bode well for September/October housing numbers. As such, we’ll be keeping a close eye on the numbers coming out of the Black Knight Home Price Index over the coming months.”California now has seven of the 10 least affordable markets in the nation, while rates or near historical lows. Purchasing the average-priced home in Los Angeles requires nearly 43% of the median household income, which is more than twice the national average. Black Knight says this, though, is a sizeable decline from the nearly 71% required in 2006. Following Los Angeles was three other California markets: San Jose, San Francisco, and San Diego. Black Knight’s report found Dayton, Ohio, to be the most affordable market, as it requires just 12.6% of annual household income to afford a median-priced home. Fellow Ohio markets Akron and Youngstown were also considered among the most affordable markets.  Servicers Navigate the Post-Pandemic World 2 days ago Mike Albanese is a reporter for DS News and MReport. He is a University of Alabama graduate with a degree in journalism and a minor in communications. He has worked for publications—both print and online—covering numerous beats. A Connecticut native, Albanese currently resides in Lewisville. in Daily Dose, Featured, News Previous: Blend Launches One-Tap Pre-Approval Next: Fannie Mae Examines Homebuyer Sentiment About Author: Mike Albanese Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily The Week Ahead: Nearing the Forbearance Exit 2 days ago The Best Markets For Residential Property Investors 2 days ago Related Articles Share Save October 7, 2019 807 Views Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Subscribe Affordability Housing Market 2019 Interest rates Mortgage Interest Rates 2019-10-07 Mike Albanese Governmental Measures Target Expanded Access to Affordable Housing 2 days agolast_img read more

Marketing campaign planning tips for credit unions in 2021

first_img This post is currently collecting data… This is placeholder text continue reading » ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrcenter_img With business operations drastically changed for many credit unions throughout the past year, many are finding it challenging to adapt their marketing budget and strategy to stay relevant in the market – and to cardholders, who are each dealing with their own specific life circumstances. As 2020 comes to a close and the campaign season changes, now is the time for credit unions to step back and consider their marketing planning approach – and how different it could look in the upcoming year.Meeting Your Cardholders’ Evolving Needs Consider a marketing planning approach that gives your credit union the ability to pivot quickly while staying top of mind and wallet, while focusing on offering cardholder incentives in a “giving back” framework. This approach will not only help meet the needs of your cardholders, but also your credit union and the local community.Below are some tips for what your credit union can do to meet your credit and debit cardholders where they are right now and maintain mutually beneficial relationships that last.last_img read more