Today’s News Synopsis:

Home prices increased 6.6% in May according to the latest home price report from CoreLogic.  This has resulted in good news for owners who saw growth in their equity but bad news for those having a harder time affording a home.  The top markets for summer vacation homes was just released by ATTOM Data Solutions, and just in time for summer.

In The News:

CoreLogic – “CoreLogic US Home Price Report Shows Prices Up 6.6 Percent in May 2017” (7-5-2017)

“CoreLogic^® (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, today released its CoreLogic Home Price Index (HPI^™) and HPI Forecast^™ for May 2017 which shows home prices are up strongly both year over year and month over month.”

CNBC – “Two major lending changes mean it’s suddenly easier to get a mortgage” (7-5-2017)

“Two major changes in the mortgage market go into effect this month, and both could help millions more borrowers qualify for a home loan. The changes will also add more risk to the mortgage market.”

Realty Trac – “Top Summer Vacation Home Markets for 2017” (7-5-2017)

“ATTOM Data Solutions combed through the nation’s most popular vacation home cities — where at least one in every 12 buyers is looking for a second home — to find those with the best combination of good air quality, comfortable summertime temperatures, low crime, and appreciating home values — along with still-reasonable home prices.”

Realtor.com – “Home-Price Growth Sizzles in May, Driving a Wedge in the Market” (7-5-2017)

“Home prices remained hot in May, bolstering owners’ equity but locking many would-be buyers out of the market.”

NAHB – “NAHB Log and Timber Homes Council Kicks off Month-Long Celebration of the Log Home Lifestyle” (7-5-2017)

“Members of the National Association of Home Builders’ (NAHB) Log and Timber Homes Council (LTHC) are celebrating National Log Home Open House Month in July for the sixth consecutive year.”

NPR – “Commercial Real Estate Demand Softens, Investors Fret Trump Tax Cuts Won’t Pass” (7-5-2017)

“President Trump has updated his most recent financial disclosure forms. The numbers show his overall wealth holding steady, but a recent analysis by Bloomberg News highlighted one potential issue.”

Realtor.com– “Mortgage Rates Fall to 2017 Lows” (7-5-2017)

“Mortgage rates declined last week to their lowest level in 2017, a move that could help fuel buyer demand at a time when the supply of homes already is under strain.”

Bloomberg – “Fed Officials Divided on When to Begin Balance-Sheet Unwind” (7-5-2017)

“A divided Federal Reserve policy committee couldn’t reach an agreement in June on the timing of when to begin shrinking its massive balance sheet, according to minutes of the meeting.”