Slight Uptick in Markets and Mortgage Rates
Mortgage Rates Push Back Above 4%: For the second consecutive week, average fixed-rate 
mortgages inched higher, taking the 30-year fixed-rate mortgage back above 4 percent for the first time in three weeks, Freddie Mac reports in its weekly mortgage market survey.The Federal Housing Administration allows buyers to get a mortgage with a down payment as low as 3.5 percent with a 30-year fixed rate. Markets Returning to ‘Normal. "Nearly half of all the markets on the Leading Markets Index are up, See The top major market.
College Effect Schooling Housing.
Colleges and universities are having a strong effect on housing across the country, with metros that have heavy 
university influence outperforming national rates in home price trends, according to latest Home Data Index Market Report. "College towns are just another example of how real estate trends are impacted by local market conditions," says vice president of research and analytics. "It's clear a significant portion of loan dollars are going toward student housing costs, thereby creating a critical demand surge. Market Report finds in a sample of 10 metros that each have a university presence, average price growth has been 32 percent since 2004. In some places, price growth has been even more, Read more.
Home Prices Rose by 5.6 Percent Year Over Year September's home prices showed year-over-year appreciation in every state,
but signaled a slowdown as earlier double-digit increases have faded to more modest single-digit increases, according to Home Price Index for the month. On a national scale, “home prices continue to rise compared with this time last year, but the rate of growth is clearly slowing as we exit 2014,” says Anand Nallathambi. “With more positive macroeconomic trends emerging in the United States, we are forecasting moderate price growth for 2015.” Read more.
Are Owners Losing Out by Not RefinancingRecent reductions in the 30-year fixed-rate mortgage could net the population of
borrowers big savings if they would refinance, according to Mortgage Monitor Report. "Before the most recent reductions in the average 30-year mortgage interest rate, approximately 6 million borrowers met broad-based 'refinancibility' criteria," says Trey Barnes, Black Knight's senior vice president of Loan Data Products. "More than half of all borrowers have 30 percent or more equity, a level not seen in nearly eight years," This is a relatively conservative assessment, though, as those with current rates of 4.25 percent to 4.5 percent could arguably benefit from refinancing as well, read more.
Rents Soaring Leading to Rising Evictions
Rents have risen 7 percent in the past year while incomes have failed to keep pace, only inching up by an average of 1.8 percent. 
Many people are finding it more difficult to afford to pay their rent, which has led to a spike in evictions in the past year. The Neighborhood Law Clinic at the University of Wisconsin Law School estimates several million families face eviction each year. Once renters are out, it can be difficult for families to get back into a rental. Many landlords shy away from renting to someone with a previous default on his or her record. Heightening the problem, once-affordable apartments are being converted into million-dollar condos, which has forced more renters out. Read Best Time To Get a Rental Deal?
Pent-Up Housing May Be Starting To Loosen Buyers, Sellers Hopeful for Strong End to 2014: Consumer optimism in the housing
market may lead to a stronger close to the year for real estate. Also, Americans are getting more optimistic about securing financing for a home purchase. Nearly half of all respondents say they believe it is easier now to secure mortgage financing, up 2 percentage points over the first quarter, according to the survey."Consumers may be shopping for more this holiday season, and homes may likely be on their list," says Earl Lee, CEO of HSF Affiliates LLC. What's more, nearly 70 percent of potential buyers surveyed say the final months of the year are a more ideal time to buy or sell, Learn more.
Where Housing Faces Big Shortages
The lack of affordable, accessible, and well-located homes is failing to meet the
needs of an aging population and could be the nation's next housing crisis, a new report suggests. The three main issues: The cost of renting and home ownership is too high; many homes and apartments lack basic accessibility features; and older Americans say they want to "age in place" in their current home but are living in car-dependent suburbs and rural towns that can make it more difficult. But at the current rate of the aging baby boomer population, several cities will be unable to meet the demand, which will likely keep boomers from moving to the location or type of home they want. See what cities.
