Houston Sees 15 Percent Drop in Mortgage Apps, Thanks to Hurricane Harvey – CandysDirt.com

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In the aftermath of Hurricane Harvey, Houston is facing catastrophic housing loss and the dangers of damaged chemical plants. As the waters begin to recede, rescue crews are going door-to-door.

Houston Sees 15 Percent Drop in Mortgage Apps, Thanks to Hurricane Harvey. at the impact hurricane harvey has already had on the real estate market when it comes to mortgage applications. Take a look here, and weigh in – will it pick back up, and when? Candy Evans, CandysDirt.com, Hurricane.

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which could be disguising the full extent of the mortgage debt problem. US households have reduced their debt-to-disposable income ratio by 15 percentage points – more than any other country – while.

Another blow from Harvey: Houston home prices, rents likely to rise. There are an estimated 242,000 homes in or very near the known flooded areas of Houston, collectively worth about $61 billion based on pre-storm values, according to Ralph McLaughlin, chief economist for the real estate listings and data firm trulia.

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Houston Sees 15 Percent Drop in Mortgage Apps, Thanks to Hurricane Harvey – CandysDirt.com Consumer outages due to Hurricane Harvey, which has been downgraded to a tropical storm, have ERCOT is seeing widespread transmission line outages along the coastal areas in the storm’s path During that time, the Houston area load dropped by about.

The mortgage backers could extend forbearance for up to a year.. In the Houston area and outlying areas hit by Hurricane Harvey, there are more than twice as many. That could be about 25 percent of what a house replacement cost is.”. If borrowers do walk away, are you going to enforce or write off?”.

See today’s mortgage rates, figure out what you can afford with our mortgage calculator before applying for a mortgage. Home Equity Line of Credit You might be able to use a portion of your home’s value to spruce it up or pay other bills with a Home Equity Line of Credit .