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The United States has the most powerful economy in the world if one were to use GDP as the criteria.China is launching a challenge but it’s obvious who has the victory. The US Bureau of Economic Analysis (BEA) highlighted the industry“Finance and Insurance” in a recent report. The real estate industry is part of this classification in the BEA summary. BEA acknowledged as the biggest contributor to growth in the 4th quarter of 2016. This sector even outperformed the GDP by 20% at one time. This is somewhat unexpected considering the 2008 crisis when the real estate bubble burst. The resulting financial crisis spread like wildfire and affected practically all industries. Eventually, this financial plague contaminated the global economy as well. The saying is true: when the US sneezes, the rest of the world catches a cold. The good news is, the real estate sector has been recovering fast. So, what are the trends and factors to look out for in 2017? What are the possibilities this year? Real estate prices continue to rise. For the last five years, property prices have been going up. The horizon is rosy and it looks like the ghost of 2008 has been laid to rest. Most experts predict only good things throughout 2017 as far as the real estate industry is concerned. This pace will hopefully continue. The primary forces that push prices upward are low unemployment rate, high consumer confidence, and a very strong market demand. In 2016, existing home sales increased by 3.8% according to the National Association of Realtors (NAR). Similarly, the US Census Bureau statistics disclosed that sales of new single-family houses are up 12%. In 2016, all 20 big cities in the US registered an upward trend in property prices. Let’s look at some of them: Seattle – 10.75% Portland – 10.01% Denver –8.89% Tampa – 8.33% Dallas – 8.06% Miami – 6.79% Boston – 6.31% Interest rates The Federal Reserve has not increased interest rates for more than 10 years. However, the US Central Bank hiked the interest rate to 0.5 (or 25 basis points) last December. Surprisingly they did it again last March. It seems these hikes weren’t enough because this month the Fed increased the interest rate once more. That makes a total of three hikes in a 7-month period. Right now the rate sits at 1.25 percent. Experts are bracing for at least one more rate hike before the year is over. Obviously, these increases directly impact mortgage rates. A higher rate will naturally mean a higher cost.The upside is, this is an indication that the economy is getting stronger and becoming more stable.Furthermore, analysts are confident that rates will not go beyond 4.3% for 30-year fixed mortgages. Low unemployment rate The US unemployment rate has been going down since 2012. It reached its lowest point at 4.3% last May. On the Bureau of Statistics website, you can check out a chart that shows how this rate has been improving. The unemployment rate has actually already equaled the levels before the crisis happened. More employment means more income to families. More income means more people with the capacity to purchase new homes.This is definitely one of the most bullish indicators not just for the housing market but for the economy as a whole. In an economic climate like this, banks will be more inclined to grant mortgages to first-time home buyers. Mortgage frenzy Even with rising interest rates, more and more people are deciding to buy their first home. The Mortgage Bankers Association (MBA) reported an unbelievable upward trend for the month of May.On top of this, a Builder Application Survey revealed that for May, applications for a new home increased by 15%. This is a very significant spike from April’s increase of 4%. It appears that the confidence and trust in the economy is more positive. The interest rate increases hardly mattered to buyers after all.

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A perfect storm is arising in the commercial property office space rental industry. Rental office space owners are already under duress as commercial property vacancy rates continue to increase, causing rental revenue to decrease. This issue only gets worse as the Fed continues to increase interest rates leaving financial lenders to hold the bag on non performing commercial mortgages that will not be able to refinance with their current revenue from the shrinking rent rolls.

Global Mortgage 5005 Texas St, Suite 302 San Diego, CA 92108 (619) 692-3630 http://www.globalmortgagesd.com/san-diego-mortgage-rates.html

With most home insurance, the interest rates are fixed and one has the option of paying back the loan earlier than the dates stated. Getting the loans will need one to at least 21 years. Being employed and having a good credit history is essential as well. The loan is usually repaid every month and extra costs include those charged upon delaying payment, insurance and processing fees. Depending on the lender one can have their loan approved the same day they apply for it. Home insurance come in handy when you need to pay for medical, business and education services. These funds can also be used to repay other loans or even pay for a vacation. There are different types of home insurance in Singapore to choose from some of which include the following. 1. Cash advance This is a loan taken with the use of the next salary as security. This loan is not usually of a high amount and is mostly used for emergencies. Some of the disadvantages of taking it include the many extra charges and the high interest rates. There are numerous payday loan lenders in Singapore thus the opportunity to look for a cash advance with an attractive interest rate. Qualifying for the loan is easy and getting it is also fast. 2. Adjustable loans Depending on the market, the interest rates of adjustable loans will either go up or down when one has already taken the loan. There is however a limit for the interest rates one can be charged. In most cases, the adjustable loans are given by mortgage loan lenders. 3. Unsecured loans They are mostly provided by financial institutions such as banks. All one needs to get the loan is their signature. This is for example getting a credit card. Because there are higher chances of not being repaid or not being repaid on time the interest rate is usually high. 4. Secured home insurance The interest rates of secured home insurance are lower compared to the unsecured loans. One will need collateral to secure this loan. Home equity is an example with some of its advantages being low payments being made monthly and the payment terms being longer. A reputable lender is crucial. Get the loan only from a money lender that has been licensed. To get the best type of home insurance, one is advised to always look at the rates as well as the terms before agreeing to take up the loan.

Global Mortgage 5005 Texas St, Suite 302 San Diego, Ca 92108 (619) 692-3630 http://www.globalmortgagesd.com/san-diego-va-loans.html

Global Mortgage 5005 Texas St, Suite 302 San Diego, Ca 92108 (619) 692-3630 http://www.globalmortgagesd.com/san-diego-fha-loans.html

Global Mortgage 5005 Texas St, Suite 302 San Diego, Ca 92108 (619) 692-3630 http://www.globalmortgagesd.com/san-diego-mortgage-companies.html

Global Mortgage 5005 Texas St, Suite 302 San Diego, Ca 92108 (619) 692-3630 http://www.globalmortgagesd.com/san-diego-mortgage-companies.html

Over the last year, countless American families sold their homes in urban areas and moved to the suburbs or to the country. Countless others took advantage of historically low interest rates and abandoned renting in favor of affordable monthly mortgage payments. This influx of interested buyers -- combined with a low supply of homes on the market -- resulted in fierce competition and thus a booming sellers market.

Industrial-style home office with vintage filing cabinet; softened with a large house plant. Photo: James Gardiner
Home office - industrial home office idea in Other